SMB Finance and Accounting Comparison Guide

Transcription

1 SMB Finance and Accounting Comparison Guide Break through the myths to find the right features for your organization. Perhaps the most mystifying of all business functions is the realm of accounting. Far from a matter of simple math, the area is fraught with confusing regulations and cash-flow penalties. This one department alone portends the rise or demise of any given industry, no matter how large or small or what amount of sales are closed on any given day. Despite hair-raising consequences and the promise of bankable returns, few SMBs (small- to medium-sized businesses) give their accounting software a second thought. Maybe that s because accounting and financial software is as confusing and sometimes as scary as the accounting function itself. Inside Business Finance presents this product comparison guide to illuminate both the reasons to invest in updated accounting and financial software and the many choices available to you. Be sure to consult the accompanying SMB Finance and Accounting Buyers Guide and SMB Finance and Accounting Checklist for additional information. Vendor Overview As to which vendors top the overall financial and accounting software scorecard, industry expert and vice president of Forrester Research Inc. Ray Wang ranked them as follows: 1. Full-Blown Enterprise Class (Financials): Oracle Corp. and SAP AG 2. Upper Midmarket Class: Lawson, Agresso, Microsoft Dynamics, Sage Accpac 3. Small Business Class: Microsoft Dynamics GP, SAP Business One, Sage MAS 90 and 200, Epicor Software Corp. 4. SaaS (Software as a Service) Class: WorkDay Inc., Inc., Intacct Corp., QuickBooks Pro Geni Whitehouse, CPA (Certified Public Accountant), CITP (Certified Information Technology Professional), CSPM (Certified Software Project Manager) and founder of consulting firm Even a Nerd Can be Heard offered the following insights into leading finance and accounting software solutions: QuickBooks is the choice for companies focused on cash. It uses the checkbook register as the central vehicle for a business owner who wants to manage information quickly and easily. Copyright 2008, Tippit, Inc., All Rights Reserved

2 It offers unlimited flexibility but the trade-off is less consistency in information and more difficulty in determining where a business stands at any point in time. Peachtree [by Sage] is the choice for companies that are looking toward the future. With comprehensive inventory and tools for business owners who want to keep an eye on their results, it can help a small business look like a bigger business. It is designed with accounting concepts in mind, so reports tend to be more reflective of actual results. seems to be running into some issues with its customers. The product has a nice design and is built for the Web, but a quick search on the Web reveals a bunch of very unhappy customers who are looking for a new solution s pricing model and sales tactics can generate ill will among its customers... Sage MAS 90 is a trusted product that has met the needs of U.S. customers for many years. With the release of the Sage MAS 90 Enterprise Suite, it now offers a complete solution that goes from accounting to the sales team. It has enhanced its development environment so the solution promises to meet the needs of growing companies for many years to come. Sage ACCPAC is a multicurrency, multilingual solution built on robust technology with a depth of features and strong third-party extensions. It too has an Extended Enterprise Suite that combines CRM and accounting in a single solution. Microsoft Dynamics NAV is a product designed for fine-tuning to meet the unique needs of any business. Originally from Denmark, the solution was built for use in multiple countries and features a development environment that is second to none. It has been modified to create industry solutions for wineries (via an offering from Elypsis) and nonprofit organizations (via Serenic Navigator), among others. Now that you can see the lay of accounting and finance software land, it will be easier to narrow your search to product lines suited both to where you are as a business now and where you ll be in the foreseeable future. The comparison chart below was provided by Randy Johnston, executive vice president at K2 Enterprises, a leading accounting, educational and consultant services firm. The chart details K2 s most recent findings on 63 accounting and financial software products. Please note that not all the products listed here specifically target SMBs. Solutions for larger companies are included so that you may investigate products that meet your specific business needs both now and in the future. The point here is not to provide you a simple list of leading solutions, but rather a simple way to make your own list of top vendors to consider according to your own parameters. Keep in mind that no accounting or financial product can be used forever, simply because things change, such as tax regulations, regional sales tax percentages, reporting rules and the

3 capabilities of the software itself. You should make cost of the software or regular investments in such software a secondary priority behind their fit to your business needs, as products in this category are vital to the welfare of your company. To not have a good financial and accounting software program in play is equivalent to refusing a glass of over-priced water when you re dying of thirst. In the end, it s not the price that should be the priority in the equation. This will ultimately come down to meeting your business requirements first, the relationship you have with the vendor, then worry about the price, said Wang. The market is fairly competitive on the SMB end. Please note that this guide lists specific accounting and financial products from a variety of vendors, several of which offer more than one such product. It is important to make note of the specific product before attempting to explore it further with the vendor to avoid confusion.

4 Finance/Accounting Solutions Comparison Guide for Small to Midsize Companies Epicor Software Corp. Exact Software Infor Lawson Microsoft Inc. Epicor Macola ES with e-synergy Infor ERP LN M3 Make, Move, Maintain S3 Staff, Source, Serve Type of Product Integrated ERP applications suite ERP-II Licensing Structure/Pricing $10,000 - $500,000 $1,000 per named user; $1300 per module for software alone Integrated business-management applications Integrated business application suites Integrated, adaptable business-management solutions Price undisclosed Price undisclosed Starts at $3,980 per user Business-managementuite delivered as SaaS, including ERP/accounting, inventory, project accounting, CRM and e- commerce is $499 per month plus, $99 per user, per month; CRM+ has no base fee and is $129 per user, per month Company URL Type of Solution/Vendor Niche Global ERP for manufacturing, distribution, and service companies Integrates BPM tools with Microsoft technology-based ERP applications Applications bundled in industry-specific solutions, built on an SOA ERP for manufacturing, distribution and maintenance companies Out-of-the box integrated businessmanagement solution Web-based, integrated businessmanagement software suites Reccomended Number of Users 1-1, , , , , ,000 Growing and midsize businesses around Small to mid-size manufacturers, distribution Asset-intensive industries, food and Designed for midmarket multinational Targets What Types of Customers? Discrete manufacturers* Discrete and project-based manufacturers the world or divisions of much larger businesses, and business service companies beverage, fashion* companies of usually users* organizations Deployment On-premise installation; application hosting service available On-premise On-premise installation; application hosting service available On-premise installation; application hosting service available On-premise, packaged software installation Platform(s) Microsoft, Unix, Linux Microsoft SQL Open SOA IBM WebSphere Microsoft.NET, SQL Server Integrates with Industry Standards, Web-service-based ; EDI, Web services Modular Architecture Role-Based User Interfaces ; UI customizable by user A variety of implementation options, including self-implementation, assisted implementation and implementation through our nationwide network of Solution Providers. Web-based solution; compatible with Internet Explorer, Firefox and Safari Supports Regulatory Compliance ; Sarbanes-Oxley ; environmental regulations; Feature Packs provide updates ; Sarbanes-Oxley, audit trails available as addon Supports SOA (service-oriented architecture) No No ; with.net Supports Multiple Languages ; 20 ; 40 ; 40 Supports Multiple Currencies Uses Portals ; Customer Portal, Supplier Portal ; for customers, employees, resellers and suppliers No No ; as add-on Suites Included in ERP Solution Epicor Macola ES with e-synergy Infor ERP LN M3 Make, Move, Maintain CRM ; available as add-on module Financials ; additional features available in Infor Financial Management System HCM ; available as add-on module ; available as add-on module ; available as add-on module Manufacturing SCM ; available as add-on module Additional Applications Included in ERP Solution Epicor Macola ES with e-synergy Infor ERP LN M3 Make, Move, Maintain BI (Business Intelligence) ; available as add-on Infor Performance Management module ; available as add-on module BPM No ; as add-on, customizable via SuiteFlex Data Warehouse No No No No No Document Management No ; technical-document management No EAM (Enterprise Asset Management) No No ; available as add-on module No No Field-Service Management No No No ; as add-on Knowledge Management No No Product Development No No No Project Management No SRM No ; available as add-on for automotive No No Some components supported Tools ; programming tools based on Microsoft Visual Basic No ; ibrix, Web Services, M3 API ; Developer Toolkit Workflow Management No No No

5 CRM Features Epicor Macola ES with e-synergy Infor ERP LN (Infor CRM available as addon) M3 Make, Move, Maintain Account Management No No No No Contact Management No Tools ; marketing ; mail merge No No ; direct , auto-response , management Case Management No No Customer Self-Service No Web Storefront Tool No No No Marketing-Campaign Management ; , online surveys Marketing Resource Management No No No No Mobile Access Opportunity Management No Pricing No Rental Management No No No No No; possible via customization SFA (Sales Force Automation) No Sales Management No No No Sales Literature Creation No No No No No Sales-Process Management No No No Scripts for Sales and Service Personnel No No No Searchable Knowledge Base No No Service Management No ; as add-on Sales-Order Management No No No Targeted Offers No No No No Financials Features Epicor Macola ES with e-synergy Infor ERP LN (Additional features available in Infor FMS) M3 Make, Move, Maintain Accounts Payable Accounts Receivable Advanced Allocations No No No No No Bank Reconciliation No No Budgeting, add-on Active Planner (in BI) Cash-Flow Management No Cost Management No No No Expense Management, add-on E4SE No ; as add-on to HCM Fixed-Asset Management, via partner add-on General Ledger Invoicing/Billing Risk Management No No No No No Tax Management No No No

6 HCM Features Epicor Macola ES with e-synergy Infor ERP LN (Infor HCM available as add-on module) M3 Make, Move, Maintain (Lawson HCM available as add-on module) (HCM available as add-on module) Benefits Administration No No No Compensation Management No No No Tax Administration No No Employee Self-Service No HR Management ; as add-on Manager Self-Service No No Payroll ; U.S. ; U.S. ; U.S., Canada ; U.S., Canada available as add-on Performance Management ; as add-on No; can be customized Recruitment ; as add-on No; can be customized Talent Management No No No No; can be customized Time and Labor/Attendance ; as add-on Work-Force Planning No No No No No Manufacturing Features Epicor Macola ES with e-synergy Infor ERP LN M3 Make, Move, Maintain CRP(Capacity Requirements Planning) No No Engineering Change Management No No No; available via partner add-on Forecasting Job Costing ; standard ; project-based Manufacturing/Production-Cost analysis No No ; COGS calculation MPS (Master Production Scheduling) No No MRP (Material Requirements Planning) No No PDM (Product Ddata Management ) No ; available as add-on Product Lifecycle Management module No No Quality Management/Quality Assurance No No; available via partner add-on Resource Planning/Management No No No No No; available via partner add-on Shop Floor Control No No ; as add-on No Work-Order Management No No No No Sales-Order-Management Features Epicor Macola ES with e-synergy Infor ERP LN M3 Make, Move, Maintain (Features provided in CRM, Manufacturing, SCM) BOM (Bill of Materials) No Credit-Card Processing No No No Customer Credit Management No No Invoicing/Billing Pricing Picking No No Product Configurator No ; as add-on No; available via partner add-on Quotations Sales-Order Processing

7 SCM Features Epicor Macola ES with e-synergy Infor ERP LN (Infor SCM available as add-on module) M3 Make, Move, Maintain APS (Advanced Planning System) No No No No ATP (Available-to-Promise) No Bin Management No No No CTP (Capable-to-Promise) Inventory No No No Demand Planning No ; as add-on No Distribution Management No Event Management No No No Flexible Network Design No No No Inventory Management Lead-Time Management No No No No No Lean Manufacturing No No No No Logistics Management No No No No No Manufacturing No No No Partner Agreement Management, purchase contracts No No No No Procurement No Product Variants No No No No No Production Scheduling No No Promotions Management No No No No Purchase-Order Processing Replenishment No No Requisition Management No No Requisition Self-Service No No No No RMAs (Return Materials Authorizations ) No No No Sales-Order Management No No No Serial/Lot Tracking No No Sourcing No No No No No Subcontract Management No No No No Supplier/Vendor Self-Service No No No Supplier/Vendor Performance Tracking No No Support for RF ( Radio Frequency) Technology No Transportation Management, third-party Appian Logistics No No No Warehouse Automation No No No No No Warehouse Management ; as add-on Industry-Specific Solutions Epicor Macola ES with e-synergy Infor ERP LN M3 Make, Move, Maintain Aerospace and defense; automative; electronics, and electrical equipment; fabricated metals; furniture and fixtures; industrial machinery; medical devices, rubber and plastics; distribuion, including automotive distribution, consumer goods andpharmaceutical; chemical and allied products; serivces, inclucing financial services, non-profits, government and education. None Aerospace, apparel and footwear, automotive, chemicals, communications, consumer packaged goods, distribution, building materials, electrical, industrial, janitorial, paper, PHVAC (plumbing heating ventilation), facilities management, financial services, food and beverage, health care essentials, hightech and electronics, hospitality, industrial equipment and machinery, insurance, life sciences, metal fabrication, plastic fabrication, public sector, retail, shipbuilding Distribution, equipment-service management, fashion, financial services, food and beverage, health care, manufacturing (discrete/process), public services, retail, service Apparel, automotive, construction, consumerdriven planning, customer-packaged-goods distributors, field services, food and beverage, industrial distributors, industrial equipment manufacturers, manufacturers, oil/gas energy finacial management, process manufacturers, professional services, retailchain manager, supply-chain execution Wholesale distribution, services, software, e-commerce, IT VARs, media/publishing and most recently manufacturers * According to AMR Research's 2007 Technology and Vendor Landscape Series: ERP Providers Serving the Midmarket

8 Finance/Accounting Solutions Comparison Guide for Small to Midsize Companies Oracle-JD Edwards Oracle-PeopleSoft QAD Sage Software SAP EnterpriseOne Enterprise Enterprise Applications MAS 500 Business All-in-One Type of Product Integrated ERP applications suite Integrated business applications Integrated business-management applications Integrated business-management applications Integrated business-management applications Licensing Structure/Pricing Price undisclosed; sold through resellers Price undisclosed; sold through resellers Starts at $20,000; via vertical/regional bundles, enterprisewide licenses or by module Sold through resellers; price not released Sold through resellers; price not released Company URL Type of Solution/Vendor Niche Integrates with all of the 70 JD Edwards EnterpriseOne modules Integrated business applications that can be extended with Oracle Fusion Middleware Targets global midmarket manufacturers Microsoft-based business-management applications and services for samll to medium-size businesses It is based on SAP ERP and includes preconfigured, industry-specific business processes Reccomended Number of Users , , , ,000 Targets What Types of Customers? Industrial manufacturing, consumer products, automotive, high-tech, and medical-device industries* Midmarket firms with light manufacturing needs and complex sourcing needs* Manufacturers in automotive, industrial equipment, consumer products, electronics and medical-devices industries* Manufacturers, services firms, and distributors High-volume product, manufacturing and service operations Deployment On-premise installation or hosted by Oracle On-premise installation or hosted by Oracle On-premise software installation, delivered on demand, or installed on appliance On-premise installation On-premise installation Platform(s) Oracle Technology Foundation or IBM Technology Foundation PeopleSoft Progress Software, QAD QXtend Microsoft SQL Server SAP NetWeaver Integrates with Industry Standards ; XML, SOAP and JMS No Modular Architecture Role-Based User Interfaces ; in Financial Management, Manufacturing, Supply Management No No Supports Regulatory Compliance ; screens against OFAC Specially Designated Nationals list, Sarbanes-Oxley ; Sarbanes-Oxley, IFRS (International Financial Reporting Standards) 2005 Supports SOA (service-oriented architecture) No; Oracle Application Integration Architecture No; Oracle Application Integration Architecture No Supports Multiple Languages ; 23 ; 27 different languages Supports Multiple Currencies ; unlimited number of currencies ; Sarbanes-Oxley; environmental, health and safety regulations Uses Portals No No No No No Suites Included in ERP Solution JD Edwards EnterpriseOne PeopleSoft Enterprise Enterprise Applications MAS 500 Business All-in-One CRM No; available as add-on module from SAP Business Suite Financials HCM No Manufacturing No Limited; some features provided in ERP Operations SCM Limited; features provided in Manufacturing Limited; some features provided in ERP Operations. Full SCM module os available as an add-on from SAP Business Suite. Additional Applications Included in ERP Solution: JD Edwards EnterpriseOne PeopleSoft Enterprise Enterprise Applications MAS 500 Business All-in-One BI (Business Intelligence) BPM ; financial management No No No No Data Warehouse No No No No No Document Management No No No EAM (Enterprise Asset Management) No No No Field-Service Management No No No Knowledge Management No No No No No Product Development No No No Project Management SRM No No No No; available as add-on module from SAP Business Suite Tools ; PeopleTools No ; Software Developer Kit for Microsoft Visual Basic ; SAP NetWeaver Workflow Management No No No ; in CRM No

9 CRM Features: JD Edwards EnterpriseOne PeopleSoft Enterprise Enterprise Applications MAS 500 Business All-in-One (SAP CRM available as addon) Account Management No (via add-on module) Contact Management No No (via add-on module) Tools ; auto acknowledge, auto response, suggested response ; campaigns No ; mail merge (via add-on module) Case Management No No No (via add-on module) Customer Self-Service ; as add-on (via add-on module) Web Storefront Tool No No (via add-on module) Marketing-Campaign Management No ; as add-on (via add-on module) Marketing Resource Management No No No (via add-on module) Mobile Access ; as add-on No Opportunity Management No (via add-on module) Pricing No (via add-on module) Rental Management No No No No No SFA (Sales Force Automation) ; as add-on No Sales Management No No No Sales Literature Creation No No No No No Sales-Process Management No No No No Scripts for Sales and Service Personnel ; as add-on No (via add-on module) Searchable Knowledge Base No (via add-on module) Service Management (via add-on module) Sales-Order Management (in ERP Operations) Targeted Offers ; as add-on (via add-on module) Financials Features: JD Edwards EnterpriseOne PeopleSoft Enterprise Enterprise Applications MAS 500 Business All-in-One Accounts Payable Accounts Receivable Advanced Allocations No No No No Bank Reconciliation No yes No Budgeting Cash-Flow Management Cost Management (in SCM) No No Expense Management No No No Fixed-Asset Management ; as add-on General Ledger Invoicing/Billing Risk Management No No No Tax Management ; as add-on

10 HCM Features: JD Edwards EnterpriseOne PeopleSoft Enterprise Enterprise Applications (No HCM module included) MAS 500 Business All-in-One Benefits Administration No Compensation Management No Tax Administration No No No Employee Self-Service No No HR Management No No Manager Self-Service No No Payroll ; for U.S., Canada, Australia/New Zealand ; North America, Global No Performance Management No No Recruitment No No Talent Management No No No Time and Labor/Attendance No Work-Force Planning No No No Manufacturing Features: JD Edwards EnterpriseOne PeopleSoft Enterprise (Features provided in SCM) Enterprise Applications MAS 500 Business All-in-One CRP(Capacity Requirements Planning) No No Engineering Change Management No No No Forecasting Job Costing ; standard ; noncost, standard, actual, by specific lot ID and serial ID, perpetual and periodic weighted ; actual, average, standard, FIFO and LIFO No average, retroactive perpetual average Manufacturing/Production-Cost analysis No No No MPS (Master Production Scheduling) No No MRP (Material Requirements Planning) No PDM (Product Ddata Management ) No No No Quality Management/Quality Assurance Resource Planning/Management No No No Shop Floor Control No Work-Order Management No ; production-ids No Sales-Order-Management Features: JD Edwards EnterpriseOne PeopleSoft Enterprise (Features provided in SCM) Enterprise Applications MAS 500 Business All-in-One BOM (Bill of Materials) No No Credit-Card Processing No No No No Customer Credit Management No Invoicing/Billing Pricing No Picking ; as add-on No Product Configurator ; as add-on (via add-on CRM module) Quotations Sales-Order Processing (via add-on SCM module)

11 SCM Features: JD Edwards EnterpriseOne PeopleSoft Enterprise Enterprise Applications MAS 500 (Features provided in Manufacturing and Distribution) Business All-in-One (SAP SCM available as add-on) APS (Advanced Planning System) No No No No No ATP (Available-to-Promise) No Bin Management No No No No CTP (Capable-to-Promise) Inventory No [done] No Demand Planning ; as add-on No (via add-on module) Distribution Management No No No Event Management No No No No No Flexible Network Design No No No Inventory Management Lead-Time Management No No No No No Lean Manufacturing No ; flow production ; as add-on No No Logistics Management No No No Manufacturing No No Partner Agreement Management No No No Procurement No Product Variants No No No No Production Scheduling ; as add-on Promotions Management No ; as add-on No Purchase-Order Processing Replenishment No No Requisition Management No No Requisition Self-Service No No No No RMAs (Return Materials Authorizations ) No No (via add-on module) Sales-Order Management No Serial/Lot Tracking No Sourcing No No No Subcontract Management No No Supplier/Vendor Self-Service No No No Supplier/Vendor Performance Tracking No No Support for RF ( Radio Frequency) Technology ; as add-on (via add-on module) Transportation Management No ; as add-on No Warehouse Automation No No No No Warehouse Management No ; as add-on Industry-Specific Solutions JD Edwards EnterpriseOne PeopleSoft Enterprise Enterprise Applications MAS 500 Business All-in-One * According to AMR Research's 2007 Technology and Vendor Landscape Series: ERP Providers Serving the Midmarket Food and beverage, real estate and home construction Campus solutions Automotive, consumer products, electronics, food and beverage, industrial products, life sciences Automotive and industrial: automotive; commercial and industrial; farm equipment and supplies; industrial equipment and supplies; primary metals and minerals. Construction and supply: building-materials supply; electrical, plumbing and HVAC; tools and hardware. Consumer goods: alcohol and tobacco; apparel, soft goods and textiles; food and beverages; furniture and home furnishings; home, personal and leisure goods; petroleum and chemicals. High tech: aerospace and defense; consumer electronics, appliances and computers; life sciences; scientific and professional equipment. Office and workplace goods: office furniture, equipment and supplies; paper and allied products; printing and publishing Partners provide "micro-vertical" solutions by adding vertical functionality plus local and global capabilities