For any large business, having the right tools and using the right software is the best way to make sure that the teams work in an organized and efficient manner. From operations to customer service, there is software for almost every task. There are so many options that it might be hard to choose. If you’re in charge of a large business and looking for accounting software, or you’re an employee who has been tasked with implementing accounting software, you might feel overwhelmed with the choices. Don’t worry - we’re here to help! We’ve tried three different accounting software, and compared their functionality and prices. Based on our experience, we’d recommend you go with Xero. To explain why here is a comparison of the three software and how well they fare in different scenarios:
- It makes integration easy and quick
Your accounting software will likely interact with multiple systems you already have in place, especially for a large business. Besides that, if you’re looking to potentially add more business systems in the future, you’ll want this integration to be seamless. One of the best features that set Xero apart is that it’s designed to be able to integrate into more than 400 business systems, tools, and software such as Palm HR payroll or Evernote, which creates an efficient and easy customer experience.
Compared with SAP: While SAP’s accounting software does have agreements with multiple partners, the list of business systems it can be integrated into is much smaller. SAP Business One can be integrated into a total of 6 business systems and applications, which is only a fraction of the number that Xero can be integrated with.
Compared with Oracle: Oracle can be integrated into more systems than SAP, but the number of systems it can be integrated with is still significantly less than Xero. Another pain point with Oracle’s ability to integrate is that it’s most easily integrated into other Oracle systems, which might not be ideal if you prefer to use different software for other departments in your business
- It can be used through an enhanced mobile app
In fast-paced large businesses, employees get a lot of work done on the go or remotely, and they might not always have access to a computer. Working remotely is more common than ever, with the majority of large businesses in 2021 offering working from home as an option. Fortunately, Xero can be used on a comprehensive mobile app that’s efficient and structured. This allows the software to be accessible easily and on the go. The app is updated frequently to make sure there are no technical issues and to continuously optimize its performance, with easy access to support whenever needed.
Comparison with SAP: SAP’s mobile app seems to have a relatively smaller user base, and the software seems to only be optimized to be used on a computer. Compared to Xero’s apps, SAP’s mobile app is updated much less frequently, with only a few updates a year.
Comparison with Oracle: Similarly, Oracle’s software mobile app is lacking compared to the software’s efficiency on a computer, and while it’s updated more frequently than SAP’s mobile app, the update is still few and far between.
- It can be set up and used in a simple and efficient way
Large businesses have a wider scope of activities and departments, and if you’re in one, you’ll need a system that’s easy to use in a way that streamlines business activities and connects tasks between team members, all while remaining accurate and efficient to get the job done. One of the elements that make Xero stand out is that it provides a lot of simplicity in its features: an easy setup process, a dashboard that’s comprehensive yet easy on the eyes, as well as interactive quotes, and smart lists that help automate and expedite accounting tasks.
Compared with SAP: There are certain limitations to SAP’s accounting software that makes it harder to use. Firstly, the software is only usable on Mozilla’s Firefox browser. Secondly, the initial configuration and installation of the software require a partner or an expensive Value Added Reseller. While the SAP’s software has a variety of options for customizing the software to fit your business's needs, for this customization to work the software will need to be extensively customized down to the specifics for it to be used efficiently.
Compared with Oracle: Oracle’s feature set is broad but complex. While Oracle’s interface is relatively easier to use than SAP’s, the amount of information on the screen could be overwhelming, and the built-in help could leave some of its users frustrated.
- Flexible Plans and Pricing
As a large business, you could be looking to get accounting software for your two accountants, or a whole larger team, and that means you’ll need to have some flexibility in what subscription you’re getting. Xero subscription plans offer flexible plans at different prices, and its cheapest plan is as low as 10 GBP. If only one person from your team will be using it or if you use accounting software, then the cheap price is very suitable. However, a big business will most likely want to use Xero’s premium subscription, which allows access to countless features.
Comparison with Oracle: while Oracle provides quotations based on needs, it’s estimated that the base license would be around 715 GBP as a first-time payment, in addition to the subscription fee. This makes Oracle pretty expensive compared to Xero and you might need to dedicate a larger budget for potentially the same results.
Comparison with SAP: Similar to Oracle, SAP provides customized quotations and these quotations are generally more expensive than Oracle and much more expensive than SAP. SAP offers pricing in packages, and its cheapest package is the Starter Package at 1,357 USD (around 970 GBP). This package only allows 1-5 users, and if you have a larger team, you’ll need to subscribe to one of SAP’s even more expensive packages.