Home / Blog / Trusting open-source: free ERP software for SMEssoftware-5 must knows
Accounting is the heart and soul of business revenue, and to be able to achieve the right revenue management, you need the correct information when selecting the best ERP software for your small business in South Africa. So, you may have decided that open source ERP software is what your business needs but are not sure which one to select. In order to select the right ERP software, there are 5 things you need to be able to do or rather to know.
Side by Side Comparison of ERP Accounting software
If you want to choose the best open source ERP software, then you need to know what you are walking into. The best way to do that is a side by side comparison. Not all ERP software is the same, they can promise a lot but knowing the core modules of what your business needs is important. Be prudent by at least reviewing one open source ERP software solution and set it as a bench mark against other proprietary solutions. From there, perform a cost benefit analysis based on your gap analysis of what other proprietary solutions offer versus what is available for FREE from that open source ERP software. Thereafter you can be sure you made the best informed decision even if you don’t go for an open source ERP.
What Support can you get- Know who else is there for you
Every business that has an accounting software package requires some form of ERP support, if you want to trust that you have the right open source ERP then research on who can provide you support. This calls for checking if the software is widely used enough for you to obtain the right support. Find out who is providing support for that software, it will be easier for you to trust it then
Security of Transactions- Know who does what
ERP software sometimes is as good as its security; accounting transactions only makes sense when the appropriate segregation of duties can be configured. Remember when auditors come, one of the things they will ask is how secure the software is. You want the comfort of knowing that your accounting software enables the right security measures which can be configured and supported . For any open source ERP software, test if the segregation of duties is configured or can be configured.
Reporting- Know what went on
Accounting is about what happened in the system, the transactions that occurred during business operations. Accounting software is also as good as the amount of reports that can be produced and that can be designed for the system. Our trust levels will increase once we know that we can easily access what has been produced and interpret it the right way which will help the business to develop. Business is about decision making and having the right information is crucial for management to be able to make the right decisions. Choose the best open source ERP software by ensuring that you can trust that the ERP will give you the right reports.
Accounting Policies - Know your accounting requirements
When selecting good open source ERP software, the accounting portion must be flexible enough to allow for different accounting policies that you may need to implement. Accounting is based on core accounting principles and being able to apply these in the system. Accounting software that is not able to implement this may not be useful to you as this is the basis of accounting. Test your software when compared with the principles that you need to be applying.