Technology: Total Cost of Ownership

There are several factors that will impact the Total Cost of Ownership (TCO) of your accounting software. The good news is that Flexi has taken all of them into consideration, so you can rest easy knowing that your TCO will be lower overall if you select Flexi solutions.

Because we truly want to help you choose the accounting solution that is right for your company, we ask that you consider the following when making your selection — whether it is with Flexi or with another vendor.

Maintenance Fees

How much will you be charged for ongoing product maintenance? Closely review the vendor’s maintenance and support plan to ensure that it includes all updates and support. Also, be sure to review how the fees are calculated for future years — this can make a significant difference.

Implementation Fees

Implementation can be your biggest hidden cost. The industry standard is 5-7 times the cost of the software for implementation. However, that does not always have to be the case. Some solutions can be less expensive (and less time-consuming) to implement.

Ongoing Fees

Will your IT staff need any special skills to maintain and support your system? Consider if the solutions were developed using industry-standard technology or something proprietary.

Hardware Cost

Many solutions require dedicated systems. Determine whether or not you will be required to make new hardware purchases in order to run the solution.

Technology Shifts

Systems developed with older or proprietary technologies are likely to become obsolete sooner than later. They may not be supported or they may require an expensive system upgrade.

Process Improvements

Will the solution truly help you streamline and improve your business processes? Process improvements directly impact your bottom line.

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