May 1, 2024
3 minutes

Why good support is crucial for financial software

Trish Toovey - Content Director at Payhawk - The financial system of tomorrowTrish Toovey
Accountants discussing Why Good Support is Crucial for Financial Software
Quick summary

Good support is the backbone of any financial software system. On top of great software, you need reliable and knowledgeable support to help with improvements, training, and more. Learn more about the benefits of good financial software support and what you should consider when choosing the right one.

Table of Contents

    As a large or growing business, you probably rely heavily on complex financial software systems to keep your finances in order. From banking to spend management, you need good technology to support your processes and keep them reliable and robust. Financial data is highly sensitive, so there’s a lot at stake, but the proof isn’t just in the quality of the software itself; the support you receive plays an essential role in keeping your organization productive and your financial information safe and secure.

    What are 2024 finance teams prioritising? Support, price, functionality?

    The importance of reliable financial software support

    You might have the most reliable finance software ever. But even then, there will be the odd occasion where something goes wrong. And one simple problem can quickly set off a string of potentially damaging events. But you can quickly alleviate these problems with a reliable support system.

    A responsive and knowledgeable support team can make all the difference between your organization running like clockwork versus confusion over cash flow issues and wasted time. So, next time you research financial software providers, check if they prioritize support.

    What support should financial software at a minimum?

    As a customer, having access to good customer support from your SaaS provider is essential for several reasons:

    1. Assistance with setup and onboarding: A SaaS product might have a learning curve during setup and onboarding. Good customer support can guide you through this process, ensuring a smooth transition and helping you get up and running quickly.
    2. Troubleshooting and issue resolution: If you encounter any problems or technical issues while using the SaaS product, responsive customer support can provide timely assistance and troubleshooting to resolve the issue, quickly minimizing downtime and frustration.
    3. Maximizing product value: Customer support can help you understand the full capabilities of the SaaS product and how to leverage its features most effectively, ensuring you get the most value out of your investment.
    4. Training and education: Customer support teams often offer training sessions, documentation, tutorials, and other resources to help customers improve their proficiency with the SaaS product, allowing you to enhance your skills and knowledge continuously.
    5. Feedback and feature requests: Customer support interactions encourage you to share feedback, suggestions, and feature requests with the SaaS provider. These sessions can influence the future development roadmap of the product, ensuring that it aligns with your evolving needs.
    6. Peace of mind: Knowing you have access to knowledgeable and responsive customer support can give you peace of mind. It reduces anxiety about technical issues or challenges, allowing you to focus on using the SaaS product to achieve your goals.
    7. Good customer support is vital for an excellent overall customer experience with a financial SaaS product. You get increased satisfaction and trust and can rely on real humans if things go wrong.

    Top four things to look for in your software

    Researching your financial software options (and the support available) can be time-consuming, so here are our top four things to look for:

    1. Can resolve problems quickly

    Time is of the essence when it comes to addressing technical issues and troubleshooting software bugs. So, providing prompt assistance is essential. Look for financial software with support teams available 24/7, particularly if you have travelling employees across different time zones or a global workforce.

    2. Increases user productivity

    The more team productivity increases thanks to good software, the more likely employees will use it. So, it's in the software developer's best interest to provide comprehensive team training to ensure high employee adoption. You need a developer who consistently optimizes software performance, updates features, introduces new ones, and listens to customer feedback to improve the product's performance in the future.

    At Payhawk, some of our latest feature updates include ESG reporting, expense filters, automatic receipt and invoice recognition, advanced card controls, EEA credit cards, and more.

    3. It helps you maximize resources

    Software that integrates with your current tech stack helps maximize efficiency across systems. Plugging your accounting software into your spend management system, for example, means you can enjoy real-time reconciliation, minimizing human errors from manual data entry and producing a single source of truth for financial data, which means everyone accesses the same figures.

    4. Enhances user experience

    A financial platform that simplifies design with paired back navigation options and an intuitive and accessible user interface immediately improves user experience. Navigating new software can be challenging enough without deciphering what should be obvious.

    What a robust support system looks like in action

    You need your departments to work collaboratively to help the finance and accounting teams do their jobs effectively, i.e., track and manage company spending. Without access to accurate financial data, tax returns can be incorrect; you can’t take advantage of tax deductions, make accurate business decisions or control costs.

    24/7 customer support for peace of mind

    Let’s say you have traveling employees; they’re in a different time zone than you, and you’re in bed. Knowing they have access to reliable customer support whenever can give you instant peace of mind. No worries if they have a problem accessing the mobile app or have forgotten how to record expenses. A live chat functionality means they’re just a click away from getting guided platform help.

    Pst. At Payhawk, we offer 24/7 customer support (including live chat), so we’re here to help wherever you are, whatever time.

    Our complete spend management solution offers various services like corporate cards, expense management software, procure-to-pay automation, accounts payable, subscription management, and more. Our top-notch in-house customer support team is skilled in multiple languages and has vast experience.

    The impressive statistics speak for themselves:

    • A 98% customer satisfaction rate
    • An average issue resolution time of 24 hours
    • An average chat response time of 36 seconds

    Key takeaways

    When comparing financial software options, it's natural to focus on features. They're crucial for how you'll use the product in your company. But don't overlook the importance of software support. Imagine navigating a brand-new interface without any guidance - it can be daunting. That's why having a reliable team of experts to help whenever you or your employees face challenges is essential.

    Learn more about the multi-lingual support we offer our customers — schedule a personalized demo.

    Trish Toovey - Content Director at Payhawk - The financial system of tomorrow
    Trish Toovey
    Senior Content Manager
    LinkedIn

    Trish Toovey works across the UK and US markets to craft content at Payhawk. Covering anything from ad copy to video scripting, Trish leans on a super varied background in copy and content creation for the finance, fashion, and travel industries.

    See all articles by Trish →
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