Strategies for Implementing Accounting Software Systems within SMEs Essay

Strategies for Implementing Accounting Software Systems within SMEs - Essay Example Under these circumstances it is essential to conduct a detail research all factors that help SMEs in providing good corporate governance while preventing accounting crime through careful selection of accounting software. This project, therefore, will provide advice on selecting and implementing appropriate information technology tools or software among hundreds or more available accounting software packages currently available in the market. AMI-partners tell "[in the U.S. alone] small businesses [] spent $86 billion on IT products and services over the past 12 months [in which] spending on IT products and services grew by 11 percent" (Small Business Computing, 2003).1 The project, for that reason, will discuss various considerations need to take into account for SMEs when selecting and implementing accounting software. In compliance with the issue, Lisa Kanarek (2004), the founder of HomeOfficeLife.com and the author of some books on home office business, says that deploying high tech technology like accounting software should consider several items in order to ensure increased productivity effectively and efficiently. For that reason, the product of this rese... ploying high tech technology like accounting software should consider several items in order to ensure increased productivity effectively and efficiently. For that reason, the product of this research is list of several appropriate considerations for SMEs in selecting and implementing accounting software packages that match their operational needs while taking into account strategic software implementation strategies obtained over the courses of the research. Problem to be Solved and Worth Selecting the best accounting software become challenging task since it will determine whether the company have spend money for useful software package or vice versa. There are thousands or possibly millions of standard and customized accounting software available in the market. To figure out the number of accounting software, we can try to use 'accounting software packages' as keywords word while searching out with Google. We might be surprised to see that there are about 1,690,000 sites about accounting software packages. Although the number does not reflect the exact number of accounting software, at least, it indicates the growing concerns on the development of accounting software packages. The vast number further implies that ones should have appropriate tools in selecting and then implementing suitable accounting software that match their diverse needs and characteristics. This situation suggests we should perform thorough research and understand what we needs and expect from accounting software packages so that the software will be supporting tools for managements in assessing the accounting performance while acting in accordance with good corporate governance. Unfortunately, there is no common rules determining the way we should take in selecting and implementing