Posts Tagged benefits

Should You Build or Buy Financial Integration Software?

You know you need a financial interface, but where you’re really stuck is whether you should buy one or build your own. There are perks to both, that’s for sure. If you buy one, you have instant access to a solution that can solve some of your most pressing challenges. However, if you build one, you can customize it to work exactly how you want.

We get the dilemma you’re in. In fact, this is something that we struggled with when we first created the company in 1982. And, this is also a question we get asked from some prospects. Most of the time, it gets posed by someone with previous programming experience who is motivated and excited to take on a challenge — and that we admire.

However, we believe we can save companies, like yours, who are considering building their own interface a lot of time and money by sharing our experience for what it takes to make a financial interface successful.

You see, there are many obvious (and some not so obvious) costs required to develop, install, maintain, support, and update these interfaces. The technical development of the interface isn’t the largest cost, but the ongoing maintenance requires a significant investment of both time and money when it comes to system updates, trained personnel leaving the organization, and the employees who are not being able to perform their originally assigned duties because they’re so bogged down with the newly built (or aging) software created.

3 Objectives for a Successful Interface

Low costs
When you purchase a GetLinked subscription, you’ll save money that you otherwise would have needed to pay your employees or contractors to develop the interface. In addition, your staff must have both accounting and programming knowledge in order to be successful, driving up the rate they charge for the build.
Similarly, to maintain the interface, you’ll sink money into program adjustments, software bug fixes, and developing it into a user-friendly interface for your accounting keypunchers, controllers, payroll clerk, and other users.

Finally, things can change with your POS systems, which require the interface to be updated. If cost is a factor in your decision making, we think you may lean to buying over building.

If you’re going to invest in a financial interface software, regardless of whether you’re buying or building, you want to make sure it works consistently.

Some of the things you’ll need to worry about when you build your own solution is technical staff, repairs, data polling, flexible translation capabilities, balanced journal entries, and the list continues. Buying an interface means there will be little to no on-going maintenance for a reliable software because another company is doing all the updating to the program behind the scenes for you.

Any interface will be able to provide you with solutions in a much more efficient and fast manner than any human on your team could process. But when you build your own software, you need to consider how to automate processes, such as data polling, multiple location imports, transfer functions batched, and more. Here at GetLinked, we’ve already figured all that out for you, and what you get as an end user is speed, without having to worry about all the tech specifications to make it work efficiently.

6 Requirements for Creating a Successful Interface:

Computer Skills
Still interested in building? Hire someone with high-level programming knowledge (for example, C languages, database file handlers, internet security protocols, and more). This person will also need experience in data file handlers, and the different versions (ex. MS_SQL, Sybase, MySQL, Dbase, flat file structures, etc.). Each system functions differently, uses a different database, program and extraction tools, and has differing levels of capabilities.

Accounting Knowledge
To build an interface, you’ll also need accounting knowledge to understand matching principles, default transaction balance, typical account entry, contra-accounts, and more functions. There will need to be a great understanding of the general ledger, payroll, receivables, and payables-related functionalities.

Data Polling
Polling of data can be the longest and hardest process of setup and needs to be done before any interface (including GetLinked) can operate — make sure you have someone proficient if you plan on building your own interface. This is where computer technicians can assist the most in automating this process on a daily basis.

Network and security intelligence
Anyone you hire to build an interface will need a vast amount of additional experience, such as covering network protocols, login configurations, server versus cloud-based requirements. They’ll also need to focus on getting the manufacturer’s permission to read or write to their system or database, as well as understanding encryptions and decryptions.

Staying on top of updates
Every system you interface to or from requires constant updates. Don’t count on a point of sale system to contain balanced transactions. It does not need to as it’s not a financial system. Building your own interface requires due diligence to make sure any outside updates get factored into your tasks.

Retaining the talent
If you’re able to move past all of the above challenges and invest in employees with all the skills and knowledge to create a customized interface, do everything you can to get them to document procedures, engage them, and retain their employment. Programmers will and do leave, and this is one of the biggest costs to a custom-built interface. In most cases it stops working, requires updates, gets a bug, and you’re forced to start over.

Bottom Line:
What is your time, money, and frustration worth? While we sincerely recommend more businesses purchase a financial integration solution instead of building one, you’re the only person who can determine which option is best for your company. While you’re mulling it over, we invite you to learn more about GetLinked, and find out if we’re the right solution for your company.

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How Does the GetLinked Subscription Work?

You are the ultimate diligent decision maker.

And we say this not to tease or poke fun — it’s an honorable trait. When it’s time to make decisions about what to purchase in your professional or personal life, you research thoroughly, collect data, analyze similarities and differences, and move forward feeling confident you’ve made the right decision because of all the time and effort you’ve put into the process.

Right now, you’re looking for a financial integration system for your organization , and we’re honored you’re considering GetLinked . But you might be curious about how our subscription-based system works.

Here, we’ll explain the basics of our GetLinked Software Subscriptions (GSS), and how choosing to link up with us will save your company time, effort, and money immediately and in the long term.

What You Need to Know About GetLinked Subscriptions

All of our subscriptions are licensed on an annual basis, which runs from July 1st through June 30th each year.

But it’s not July 1st today, is it? And this leaves you wondering what you’ll be charged and for how long your subscription is valid, right? We understand, and this is one of the most commonly asked questions  we receive.

Great news — our subscription plan is prorated on a daily basis. This means that you’re only paying for the actual time you’re using through the end of the subscription period. So whether you start in November, February, or May, your pricing will be adjusted to reflect the remainder of the subscription year.

And we believe in being upfront with our pricing so that you can factor the cost into your decision-making process . We don’t hide our prices and force you on a sales call to try to close the deal. Our pricing is available to view every day at our online store. Here, you can view what today’s price is to subscribe so you can feel confident knowing you’re getting a great deal for a great product, and not paying for an annual year if you join us after the subscription period begins.

What’s the Benefits of Subscribing?

When you choose GetLinked as your financial integration software, you can rest easy knowing that your annual subscription grants you access to any enhancements to the product, as well as any software updates that occur during that time period. Better yet, we’ll provide you with online documentation, support topics and the technical know-how included in our helpdesk.

If you’re looking for more hands-on help, there are upgrades available to add to your subscription. GetLinked customers can purchase one-on-one support packages through our online store if any need arises in which you want a little extra help.

What Modules Are Included in a GetLinked Subscription?

With so many other tools out there, consumers are forced to purchase an entire program loaded with many modules that will likely go unused as they only need a portion of the product to achieve what they need in their business. The beauty of our software is that you only need to purchase the modules  you actually need.

When you join GetLinked, you have the option to purchase subscriptions in one, more, or all of the following modules, depending on your organization’s needs. The investment is priced per location (profit center) per module.
POSLink (Daily Sales)
PRLink (Payroll/Time and Attendance)
APLink (Accounts Payable)
ARLink (Accounts Receivable)
GLLink (General Ledger)
BRLink (Bank Reconciliation)

 What Interfaces Are Included?

GetLinked integrates with over 1,300 point of sale (POS), time clock, financial, and payroll systems, and with a subscription, you’ll have access to all interfaces for all systems per module. We’d bore you if we listed all of the 1300+ interfaces here, but some of the most popular are Square, Micros, Aloha, ABC Financial Services (Fitness Clubs), Intacct, QuickBooks, ADP, Paychex, US Foods, Sysco, and many more options.

The access to so many interfaces is what so many of our customers love about working with GetLinked, and you’ll have access to the interfaces with a subscription.

What Happens When The Subscription Ends?

If June 30th doesn’t feel too far away, you might be wondering what happens with your subscription. Don’t worry! We’ll notify you in advance of the expiration date with instructions on how to purchase your next annual subscription. So long as there are no interruptions (time or payment) on your part, this process will be seamless!

Here’s something we’re really excited about: customers who choose to continue their annual subscriptions with GetLinked get discounted pricing for most modules so long as they continue to purchase their subscriptions every year without interruption or non-payment. We’re so thankful for our very loyal customers , and this is just one of the many ways we share that gratitude with them.

Also, we understand that sometimes our customers may need to interrupt their service, such as if a location is closed or for other reasons. Because the subscription is sold as an annual subscription, it will stay active until the end of the subscription period with no prorated refunds.

That being said, we currently have a 92% re-subscription rate , and potential customers have access to a trial period to test and make sure our software works best for their organization.

We’re proud of our subscription service, and we’re honored to have so many long-term customers who feel the same. If you feel like you’ve done your due diligence in researching financial integration systems, we hope you’ll join our subscription service. Find out more about the specific products we offer.

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