Monthly Archives: July 2023

Fan Manufacturer Triples Sales Volume in Ten Years and Tracks Shipping Container Movement Using AccountMate

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Fanimation, an Indiana-based designer and manufacturer of unique and innovative ceiling fan kits, has grown from a one-man shop to a thriving international business, serving more than 1,500 customers and exporting its products to over twenty-three countries worldwide. Fanimation’s corporate culture, centered on family values, combined with the development of high-quality, sustainable products, positions the company as a leader in the ceiling fan industry.

As Fanimation experienced consistent growth and increased sales demand, they realized that their original, proprietary accounting system was no longer sufficient to handle their evolving business requirements. To address this challenge, they sought a robust business and financial management solution with real-time information, automation, and scalability. They turned to an Elite AccountMate Business Partner, for a solution.

It was recommended that they install AccountMate SQL’s financial management system due to its open architecture and scalability.

Some key solutions implemented include:

  • Product Arrival Visibility. With over 200 customer orders per day, Fanimation needed to track the status of containers throughout their movement in order to project item availability for order fulfillment. Now, Fanimation employees have access to estimated arrival times and can manage order fulfillment problems in advance, equipping their team with up-to-the-minute information. Complete visibility into their products helped them efficiently create a knowledgeable workforce ultimately boosting productivity, sales and customer service.
  • Unique Inventory Attributes. Fanimation sells more than 70 different fan models, each with numerous unique attributes. To track and manage over a hundred of these product-specific attributes, the business partner deployed custom data entry screens and reports. Additionally, they facilitated importing and exporting data to and from Microsoft Excel to avoid tedious editing.
  • Comprehensive Order Tracking. This allowed seamless integration of industry-specific solutions, streamlining the shipping process and improving warehouse efficiencies.

By leveraging AccountMate, Fanimation has achieved real-time information, integration, and automation 24/7, supporting their business goals and strategies. Over the course of more than ten years, Fanimation tripled its revenue, expanded its warehouses nationwide, and experienced significant customer growth.

With the implementation of AccountMate’s financial management system, along with the specialized support from an AccountMate solution provider, Fanimation can efficiently manage its growing business, streamline operations, and significantly increase its sales volume over the years.

Read the full case study here.

Want to speak to one of our highly-skilled business professionals about what AccountMate can do for your business? Contact us now or call 707-774-7537.

Understanding the Distinctions: SaaS, Hosted, and On-Premise Accounting Software Options

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In today’s fast-paced business landscape, accounting software has become an indispensable tool for organizations of all sizes. The advancement of technology has given rise to various deployment options, each catering to specific business needs and preferences. Among the most popular choices are Software as a Service (SaaS), hosted, and on-premise accounting software solutions. This article aims to delve into the key differences between these options, shedding light on their benefits, drawbacks, and suitability for different businesses.

SaaS (Software as a Service) Accounting Software

SaaS accounting software, also known as cloud-based accounting software, is hosted on the vendor’s servers and accessed through a web browser or mobile app. Users typically pay a subscription fee to access the application and its features. The main characteristics of SaaS accounting software are:

  • Accessibility: One of the most significant advantages of SaaS accounting is its accessibility from any location with an internet connection. This enables real-time collaboration between users and provides flexibility for remote teams and businesses with multiple locations.
  • Maintenance and Updates: The responsibility for maintaining and updating the software lies with the vendor, reducing the burden on the end-users. This ensures that users are always using the latest version of the software with the latest features and security patches.
  • Scalability: SaaS solutions can easily accommodate the changing needs of businesses. As companies grow, they can quickly upgrade their subscription to access additional features or resources.
  • Cost: SaaS accounting software is often based on a subscription model, which can be cost-effective for small to medium-sized businesses. It eliminates the need for significant upfront costs for hardware or software licenses.

Hosted Accounting Software

Hosted accounting software, also referred to as Application Service Provider (ASP) accounting software, involves deploying a traditional on-premise accounting software solution on remote servers maintained by a third-party hosting provider. Key aspects of hosted accounting software include:

  • Accessibility: Similar to SaaS, hosted solutions offer remote access to the software, but it relies on a different technological infrastructure. Users access the software through a secure remote desktop connection.
  • Maintenance and Updates: While the hosting provider is responsible for maintaining the servers and infrastructure, the actual software maintenance and updates are usually managed by the user or their IT team. This provides greater control but also requires more effort to keep the software up to date.
  • Scalability: Hosted solutions can be scalable to some extent, but it might be more cumbersome to scale compared to SaaS options. Expanding server resources or accommodating more users may require additional arrangements with the hosting provider.
  • Cost: Hosted accounting software generally involves higher upfront costs due to server setup and hosting fees. Additionally, there might be ongoing expenses for maintaining the hosting arrangement.

On-Premise Accounting Software

On-premise accounting software is the traditional model where the software is installed and runs on the company’s own servers, and users access it on their internal network. Key features of on-premise accounting software include:

  • Control and Security: Companies have control over their data and infrastructure with on-premise solutions, making it an attractive option for businesses with stringent security and compliance requirements.
  • Maintenance and Updates: The responsibility for software maintenance and updates falls to the company’s IT team. This gives them greater control over when and how updates are implemented but requires more resources and time for upkeep.
  • Accessibility: On-premise software usually offers limited accessibility outside the company’s network, making remote access challenging unless additional arrangements like VPNs are implemented.
  • Cost: On-premise accounting software typically requires a significant upfront investment in licenses, hardware, and IT resources. Ongoing costs might include maintenance, support, and occasional upgrades.

Choosing the right accounting software deployment option depends on various factors, such as the size of the business, budget, security requirements, and scalability needs. SaaS accounting software offers flexibility and ease of use, but this option isn’t always the best solution. Hosted solutions bridge the gap between SaaS and on-premise, providing remote accessibility with greater control. On-premise accounting software is favored by larger enterprises with robust IT infrastructure and stringent data security needs.

Before making a decision, businesses should carefully assess their specific requirements, consider long-term implications, and evaluate the available options to find the best fit for their accounting needs. SaaS has been touted as the go-to option, but most businesses don’t know that there is more than one option available to them. The right choice will empower businesses to efficiently manage their financial processes and pave the way for sustained growth and success. You have choices with AccountMate and an AccountMate Authorized Solution Provider can help assess the security needs of companies and provide a recommendation of which installation options best suit your needs. Contact us now or call 707-774-7537 so we can learn about your unique business and craft a solution just for you.

Internet Security: Striking the Balance Between Convenience and Risk in SaaS Accounting Software

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Are you concerned about your business’s cybersecurity?

The advent of the internet has ushered in an era of unprecedented connectivity and convenience for businesses. The rise of Software as a Service (SaaS) solutions, including cloud-based accounting software, has significantly streamlined various business processes. However, concerns surrounding internet security have led some to question whether the phrase “internet security” is an oxymoron. While SaaS accounting software undoubtedly offers numerous advantages, it’s essential for businesses to recognize that it also comes with inherent risks.

In this article, we’ll explore how SaaS accounting software can increase business risk and why businesses should consider more secure options like on-premise software.

  1. Data Vulnerability in the Cloud

One of the most significant concerns with SaaS accounting software is the vulnerability of sensitive financial data stored in the cloud. As businesses increasingly rely on external cloud service providers, they entrust critical financial information to third-party servers, potentially exposing it to cyber threats and unauthorized access.

On-Premise Security Advantage: On-premise accounting software allows businesses to maintain direct control over their data, residing within their own infrastructure. This localized approach reduces the risk of data exposure to external entities and provides an additional layer of security.

2. Cybersecurity Breaches and Data Loss

The cloud’s centralization of data makes it an attractive target for cybercriminals seeking to exploit vulnerabilities and execute data breaches. Even with stringent security measures in place, no system is entirely immune to the evolving tactics of cyber threats.

On-Premise Security Advantage: With on-premise software, the responsibility for data security lies solely with the business itself. This direct control enables companies to implement customized security protocols and continuously adapt to emerging threats.

3. Compliance and Regulatory Challenges

Certain industries, such as finance and healthcare, are subject to strict regulations concerning data privacy and security. When using SaaS accounting software, businesses must ensure that the chosen provider complies with these industry-specific regulations.

On-Premise Security Advantage: On-premise software gives businesses more control over compliance efforts, allowing them to tailor security practices to meet specific industry standards and ensure regulatory compliance.

4. Dependence on Internet Connectivity

SaaS accounting software relies entirely on internet connectivity. Any disruptions in the internet connection can hinder access to critical financial data and disrupt accounting operations, potentially causing delays and financial losses.

On-Premise Security Advantage: On-premise software provides users with consistent access to their data without dependency on external factors like internet connectivity. This mitigates the risk of downtime due to internet outages.

Internet security is a real concern in today’s interconnected world, and SaaS accounting software is suitable for many businesses, those dealing with highly sensitive financial data and strict regulatory requirements may find greater peace of mind by adopting on-premise software. On-premise solutions provide businesses with increased control over their data, security protocols, and compliance efforts.

Ultimately, the decision between SaaS and on-premise accounting software should be based on a thorough assessment of the business’s specific needs, budget, and risk tolerance. By understanding the potential risks associated with cloud-based solutions and carefully weighing the alternatives, businesses can make informed choices to protect their financial data and maintain the security and integrity of their operations.

One software option does not fit all, which is why AccountMate offers multiple accounting software options, from SaaS, hosted or on-premise.

Choose choice, choose AccountMate. An AccountMate Authorized Solution Provider can help assess the security needs of companies and provide a recommendation of which installation options best suit your needs. Contact us now or call 707-774-7537 so we can learn about your unique business and craft a solution just for you.