Introduction to Buying a Small Business Cloud ERP Solution from VersAccounts



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Introduction to Buying a Small Business Cloud ERP Solution from VersAccounts Global Dec 1, 2014 Thank you for your interest in VersAccounts! Data Sheet Contact Us: North America: +1 855 445 2281 Europe: +353 1 6855088 This Data Sheet is for informational purposes only. VERSACCOUNTS MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS DATA SHEET. VersAccounts cannot be responsible for errors in typography or photography. Copyright 2014 VersAccounts Limited. All rights reserved. Reproduction in any manner whatsoever without the express written permission of VersAccounts Limited is strictly forbidden. For more information, contact VersAccounts. Information in this document is subject to change without notice. December 2014 Page 1 Copyright VersAccounts 2014

Contents A Personal Message... 3 I Contacted VersAccounts - What Happens Next?... 7 2.1 Our Initial Email To You... 7 2.2 Preparing for the Discovery Meeting... 8 2.3 The Discovery Meeting (1 Hour)... 9 2.4 Preparing for the Product Demonstration... 10 2.5 Product Demonstration (2 Hours)... 11 2.6 Preparing for the Implementation and Pricing Meeting... 12 2.7 Implementation and Pricing Meeting (2 Hours)... 13 2.8 Quotation and Order From... 13 Appendix A - Discovery Questionnaire... 16 Appendix B - Demonstration Feedback Form... 19 Appendix C - Implementation and Pricing Options... 21 C.1 Annual Subscription Fees... 21 C.2 Implementation Options... 22 C.3 One Time Implementation Fees... 23 December 2014 Page 2 Copyright VersAccounts 2014

Section 1 A Personal Message Dear Prospective Customer: My name is Sunil Pande and I am the CEO of VersAccounts, a 21st century born in the cloud business software company that offers a 100% Mobile Cloud ERP system to Small and Medium Sized Businesses (SMBs) Globally. With over 20 years each invested in developing and delivering business software to a broad spectrum of Customers from Global Fortune 500 Companies to Micro Businesses, my team and I at VersAccounts have developed definite ideas around what works and what does not. How things should be and how they should not. The Buying process that you are now entering, like everything else we do is a result of these learnings. You will find it SIMPLER (believe us it is) more TRANSPARENT, and most importantly, FAIRER than anything offered by any ERP system Vendor in the industry. It is out with the old ways of doing business and in with the new at VersAccounts. Buying Heritage Accounting and ERP software has traditionally been a confusing, difficult, and exhausting experience. It was hard to know what one of these products would eventually end up costing you. How long it would take to put in. And what if any of the promised benefits would eventually be realized. There were so many Ifs, Ands and Buts. So many surprises. That was how business was conducted in the 20 th Century. December 2014 Page 3 Copyright VersAccounts 2014

We are 15 years into the 21 st Century and things have to change. So we have drastically changed the way we Package and Price our offering from the way Heritage software Vendors do it. We quote a Fixed Price for almost everything. We also don t believe that our Customers should be penalized for Growth. So we provide Unlimited options for the use of our software. Unlimited Users. Unlimited Entities or Companies. All Software Modules. We have also changed when Pricing is discussed in the Buying Cycle. As well as the level of detail we get into. We have Pricing discussions up front, rather than at the end so that you, the Customer, do not waste a lot of your time in product evaluation only to find out VersAccounts does not fit your budget. And we don t just provide estimates. We do the detailed work necessary to provide firm and detailed quotes so there is minimum scope for confusion or change later. The old way of selling Heritage ERP software counted on the imbalance of knowledge between the Vendor and the Customer. It gave Vendors a huge advantage in the buying process and specifically in negotiating what they sold you as well as Price and Terms. We at VersAccounts want to change this by Educating all our Prospective Customers and by being Transparent. Transparency is a core value in our way of doing business. So we Disclose All, and Disclose Early. This approach puts us at a significant disadvantage against many Heritage software Vendors who stick to the traditional ways of doing business. However it is more important for us to stay with the principals around which VersAccounts has been built than for us to win a particular sale through compromising them. December 2014 Page 4 Copyright VersAccounts 2014

So we have put together this Introduction to assist you in the Buying process along with a Best Practice Series of White Papers to Educate our Prospective Customers on how to go about Selecting, Buying, Implementing, and Using ERP systems. Not the typical advertorials you see from Vendors under the guise of so called White Papers, but the kind of meaty, advertorial free, pieces that one would expect from experienced practitioners. To find the latest list of White Papers that are available from VersAccounts and to download them for your use free of charge, please visit the VersAccounts website at www.versaccounts.com or contact me directly. And if you do read one or more of our White Papers please let us know what you think about them, how we might improve them, and what other White Papers we might publish. Get in touch via Phone, Email or Twitter, or leave us a comment on the download page at the VersAccounts website. It would be very much appreciated both by us and your peers at other businesses when they begin their search for their next business system. Finally, I would like to reiterate that the VersAccounts Small Business Cloud ERP system is already deployed and in use by SMBs across the globe. It is a tried and tested solution that has been in use by these businesses for many years. So thank you for your interest in VersAccounts and we look forward to making your buying experience and your journey to ERP as enjoyable as possible. Please do reach out to me with any questions you may have, as well as any thoughts and advice on how we can do better. Or if there is something you particularly like about our software or the way we treated you, we would love to hear about that as well. December 2014 Page 5 Copyright VersAccounts 2014

We are always looking to improve and become better at meeting the needs of our Customers. One of the ways to do that, is to preserve what is good and working. So do let us know and get in touch. My contact information is below, and I look forward to hearing from you. Regards Sunil Email: sunil.pande@versaccounts.com Twitter: @sunilpande Phone: +1 855 445 2281 Ext 701 December 2014 Page 6 Copyright VersAccounts 2014

Section 2 I Contacted VersAccounts - What Happens Next? Thanks for reaching out to the VersAccounts team. Your interest in the VersAccounts Small Business Cloud ERP solution is very much appreciated. The following pages will provide you with a preview of the next steps we will take together to understand the complete scope of your Business needs, to map them to Business System Requirements, define possible Solutions, and finally determine the exact role that a Small Business Cloud ERP system like VersAccounts might play in helping you run and grow your Business. Our hope is that providing you a preview of the exact steps we will take allows you to be better prepared for the important decisions you will need to take along the way and will make the process of making them smoother and less stressful for all concerned. 2.1 Our Initial Email To You On receipt of your inquiry VersAccounts sent you an email with this document - Introduction to Buying Small Business Cloud ERP from VersAccounts attached. In addition the - Small Business Cloud ERP Requirements Collection Guide White Paper is available to download here. And the VersAccounts Small Business Cloud ERP Product Brochure can be found here The Introduction to this document also provides links to some White Papers that are designed to help educate prospective Customers on Cloud ERP and the Searching, Evaluation and December 2014 Page 7 Copyright VersAccounts 2014

Buying Process. It covers the process as well as the Challenges and Risks that you will face along the way and how best to deal with them. You may find these White Papers helpful as well. In addition the email from VersAccounts introduced one of our highly experienced VersAccounts Solution Partners to you. He/she will be your Guide through our engagement. VersAccounts Solution Partners have decades of experience helping hundreds of businesses purchase, implement and use a large variety of different Accounting and ERP systems including many from our competitors. So this puts them in a unique position to help you select the right system for your needs, regardless of whether it is from VersAccounts or not. They will be able to tell you if the VersAccounts Small Business Cloud ERP system is appropriate for your situation, and if it is not, they may be able to recommend some other solutions that are a better fit. Expect a call from your Solution Partner within a day or two of your enquiry, and feel free to reach out to them as well. 2.2 Preparing for the Discovery Meeting The next step is a meeting with your Solution Partner. This is called the Discovery Meeting. To prepare for the Discovery Meeting and to get the most out of it please consider doing the following things while you wait for the Solution Partner to set up the call. First if you already have a Requirements Document, please locate it and send it to the Solution Partner ahead of your conversation so that he/she can be better prepared to discuss your situation with you and be helpful. If you have not developed a Requirement Documents it may be helpful if you reviewed the Small Business Cloud ERP December 2014 Page 8 Copyright VersAccounts 2014

Requirements Collection Guide mentioned earlier and started putting a Requirements document together. Finally please do visit the VersAccounts web site www.versaccounts.com and review the capabilities of the VersAccounts Small Business Cloud ERP system as described there as well as the Pricing to ensure that the system falls within your Budget 2.3 The Discovery Meeting (1 Hour) The purpose of the Discovery Meeting is for you to get to know the Solution Partner and to learn about VersAccounts and the VersAccounts Small Business Cloud ERP solution. It is also an opportunity for the Solution Partner to learn about you and your Business, your specific Business System needs, specific Pain Points, your preferred Buying Process, Decision and Implementation Timelines, etc. As previously mentioned, if you have your Requirements Document already thought through and completed then please send a copy to the Solution Partner in advance of the Discovery Meeting. The Discovery Meeting should last approximately 1 Hour. In addition to the documents mentioned earlier, it would be very helpful if you reviewed the information contained in this document Introduction to Buying a Small Business Cloud ERP Solution from VersAccounts, before the Discovery Meeting including the Discovery Questionnaire in Appendix A. Implementation and Pricing may also be discussed at the Discovery Meeting. If it is discussed the Solution Partner will want to refer you to the Implementation and Pricing Options included as Appendix C of this document. If the Discovery Meeting determines that there is a likely fit between the solution provided by VersAccounts and your needs, December 2014 Page 9 Copyright VersAccounts 2014

the Solution Partner will suggest and setup a deeper discussion as the next step. This will include a demonstration of the VersAccounts Small Business Cloud ERP system with specific emphasis on your specific needs. 2.4 Preparing for the Product Demonstration The best way to focus the Product Demonstration on the specific needs of your Business, is to provide VersAccounts with a Business Specific Demonstration Script. The Demonstration Script is a document that enumerates important Usage Scenarios and Workflows that your Business executes on a daily basis or new Usage Scenarios and Workflows that the Business would like to implement. The Demonstration Script is then used by VersAccounts to inform the Demonstration delivered and helps make the Demonstration as relevant as possible to your needs. These Usage Scenarios and Workflows may be a Purchase-to-Pay workflow, or a specific way you Invoice a Customer, or anything else that is important to you. You may have your own Business Specific Demonstration Script already prepared, or one can be developed with the Solution Partner as part of the Discovery Meeting. If you don t have a Business Specific Demonstration Script and the Solution Partner determines that your business workflows are sufficiently well reflected in the Standard Demonstration Script used by VersAccounts, then no Business Specific Demonstration Script may be necessary for the Product Demonstration. The documents you should review in advance of the Product Demonstration are: Small Business Cloud ERP Implementation Guide - this is available to download here Appendix C - Implementation & Pricing Options (summary) December 2014 Page 10 Copyright VersAccounts 2014

VersAccounts Small Business Cloud ERP Subscription Pricing & Implementation Plans (detail) - this is available to download here Appendix B - Demonstration Feedback Form 2.5 Product Demonstration (2 Hours) As the next step the Solution Partner will invite you and your Small Business Cloud ERP search project team to a web conference meeting for a short Presentation on the VersAccounts Small Business Cloud ERP system to be followed by an in depth Product Demonstration. Please ask questions and dig as deep as you need to, to determine if the VersAccounts Small Business ERP system will meet your needs, specifically with respect to key Requirements as well as specific Pain Points you need to address. The result of the Product Demonstration is both you and the VersAccounts team will gain a much deeper understanding of your Requirements, as well as a better understanding of the kind of Solution that may be required. In addition, if time permits, after the Presentation and Product Demonstration and discussions around them are complete, Implementation and Pricing may also be discussed. Alternatively a follow up Implementation and Pricing Meeting will be scheduled by your Solution Partner. The Product Demonstration Meeting is usually scheduled for 2 hours. Finally a request. Our goal during our engagement with you is to make it as easy and quick for you to get the information you need to make your assessment of fit between your Business System needs and the VersAccounts Small Business Cloud ERP system. December 2014 Page 11 Copyright VersAccounts 2014

There is no point in you wasting your precious time looking at and evaluating a system that will not meet your needs, or one you can t afford. The sooner we help you get to that assessment the better. Hence we are always trying to tailor our discussions and presentations to your needs and preferences as we learn more and gain clarity about them. We always want to make sure we are having the most relevant and focused discussions possible and providing you with the most pertinent information. To help us continue doing this we will request feedback from you at the end of the Product Demonstration. If there is time we will ask for it at the Product Demonstration. If not please do send it to us by email or provide it at the Implementation and Pricing Meeting. The Feedback Form can be found as Appendix B - Demonstration Feedback Form of this document 2.6 Preparing for the Implementation and Pricing Meeting If it makes sense, the Product Demonstration Meeting is followed by a Meeting to discuss the Implementation Process as well as Pricing. While the User Fees charged by VersAccounts are simple to understand and determine, the VersAccounts Small Business Cloud ERP system affords unprecedented flexibility and power in terms of the Implementation approach that may be chosen by each Customer as well as the level of Customization that can be delivered. Hence the cost of each Implementation can vary from $750 on one end to many 10s of thousands of dollars on the other. The goal of the Implementation and Pricing Meeting is to review these choices with prospective Customers and get their input with respect to the Implementation approach they would like to take as well as the Customization desired. This allows VersAccounts to generate a Proposal for you that actually makes sense for your Business. December 2014 Page 12 Copyright VersAccounts 2014

Please review the following documents ahead of the Implementation and Pricing Meeting: Small Business Cloud ERP Implementation Guide - this is available to download here Appendix C - Implementation & Pricing Options (summary) VersAccounts Small Business Cloud ERP Subscription Pricing & Implementation Plans (detail) - this is available to download here In addition to these documents your Solution Partner may also provide you with a Sample VersAccounts Purchased Services Order Form that you can understand your purchase choices better. 2.7 Implementation and Pricing Meeting (2 Hours) The Implementation and Pricing Meeting usually takes 2 Hours. First there is a review of the Implementation Process itself. That is followed by a discussion of the many Implementation choices that are usually faced by a prospective VersAccounts Small Business Cloud ERP Customer. Cost drives the decision in many cases so the VersAccounts Small Business Cloud ERP system Pricing is also discussed in detail. Finally, once the Implementation Process and Pricing are well understood and discussed by the Customer, the VersAccounts Purchased Services Order Form is also discussed. This allows the Customer to finally start making specific choices with respect to the VersAccounts Small Business Cloud ERP based solution they would like to implement one that is closely tailored to their needs and within Budget. 2.8 Quotation and Order From Based on the discussions and choices made in the Implementation and Pricing Meeting as well as the Requirements and the feedback received following the Product Demonstration, the Solution Partner December 2014 Page 13 Copyright VersAccounts 2014

will prepare and present you with a Proposal in the form of a VersAccounts Purchased Services Order Form. The VersAccounts Purchased Services Order Form enumerates the following: Module to Be Implemented Number of Users and Roles Configuration Options Number of Internal Entities to Consolidate Number of Companies Data to Be Setup/Migrated Forms and Reports to be Customized/Created Mashup and other Add-Ons Applications to be Created Extensions/Changes to be Made to the VersAccounts Small Business Cloud ERP system Standard Integrations that are to be Enabled For example UPS, FedEx, SF.com. Custom Integrations that are to be Implemented For example with Internal Proprietary System Proposed Implementation Plan In addition the VersAccounts Purchased Services Order Form specifies the Initial Payment to be made on Order placement as well as the recurring Yearly Payments to be made in the Second and Subsequent Years of Service. The Initial Payment is made up of the User Subscription Fees for the First Year, Fees for Phone Support if applicable as well as Implementation and Customization Fees. The Fees for the Second and Subsequent Years of VersAccounts Small Business Cloud ERP system usage are typically made up of only the User Subscription Fees for One Year, and Fees for 24x7x365 Phone Support if applicable. The Standard Term of the Contract enumerated in the VersAccounts Purchased Services Order Form is one Year with Auto Renewal for One Year at the end of each Year unless cancelled by the Customer. December 2014 Page 14 Copyright VersAccounts 2014

However Customers may also enter into Multi-Year Contracts for the use of the VersAccounts Small Business Cloud ERP system where the Term of the Contract extends for anything between 2-4 Years. The benefit to the Customer of these Multi-Year Contracts is that they lock in Terms and Prices for the Term of the Contract. The Term of the Contract is unrelated to Payment Schedule which is Annual and in Advance for User, Implementation and most other Fees. December 2014 Page 15 Copyright VersAccounts 2014

Appendix A Discovery Questionnaire Dear Prospective VersAccounts Small Business Cloud ERP Customer, this is the Questionnaire we use to guide our initial discussions with you, during the Discovery Meeting. Our goal during the Discovery Meeting is to get a better understanding of your Business and to learn more about your key Requirements including the most important drivers behind your desire to move to a new Small Business Cloud ERP solution. Please review this Questionnaire before the Discovery Meeting and we look forward to discussing it in detail with you. 1. What has prompted you to look for a Small Business Cloud ERP solution for your Business? (We would like to determine the problem statement and to understand the pain points with your current solution.). Have you ever migrated a Business from an existing Business System to a new one before? If so from which Business System did you migrate and to which Business System? How long did you take to complete the Migration and what was the Process? 2. Could you tell us about your Business? (Industry type, number of employees, Local/Global etc). What are your growth plans for the next Year? Next 5 Years? What has your Historical Growth been like? 3. Is there any particular Function or Person in your Business that is driving the requirement for a new Small Business Cloud ERP solution? (Is there a particular function need, or has the Board suggested it due to expansion or other reasons) December 2014 Page 16 Copyright VersAccounts 2014

4. When are you planning to Go-live with the new Small Business Cloud ERP solution? (New financial year, new quarter, mid-year?) 5. What business software systems are you using to run your business today and which of them do you want to replace with the new Small Business Cloud ERP system that you plan to implement? Are there any additional Business Systems you plan to Implement with the new Small Business Cloud ERP system? 6. How familiar are you with Cloud computing? Do you have any Business Systems currently running in the Cloud? 7 Please provide us some more details on your Small Business Cloud ERP system needs: a) What Modules are required to run your Business; i. Financial (GL, AR, AP) ii. Purchase to Pay iii. Order to Cash iv. Inventory v. Logistics vi. Fixed Assets vii. Projects viii. Reports b) Will you bring across Opening Balances only or will do you also hope to import Historical Transaction Data? Going how far back? Years? Months? c) Have you had any Demonstrations or Proposals from any other vendors of competing products? If so is there anything you have seen that you would like to have in the new solution? Or something that you would not like to have? December 2014 Page 17 Copyright VersAccounts 2014

d) Are there any other software Products and Services you would like to integrate the VersAccounts Small Business Cloud ERP system with? Why do you need the integration? How would you like the integration to work? e) How many Users will need access to the VersAccounts Small Business Cloud ERP solution? In what role would these Users access the system and what would their main requirements be? f) Is Mobility an important requirement for you? Does Mobility mean access to 100% of the VersAccounts Small Business Cloud ERP application or just a part of it? If only a part of the VersAccounts Small Business Cloud ERP system needs to be Mobile, which part? Can you describe the usage scenarios where Mobility is important for your business? g) How many Companies and/or Entities (Departments, Divisions) will you need to put on the VersAccounts Small Business Cloud ERP system and will you need consolidation? Will you need automated Inter-Company Transactions (Ex. A Purchase Order in one Company automatically creates a Sales Order in another) h) Have you decided on a Budget for the Project? How much would you be comfortable paying for Users to use the VersAccounts Small Business Cloud ERP system on an Annual basis? How much would you be comfortable paying for Implementation and Customization in Year 1? December 2014 Page 18 Copyright VersAccounts 2014

Appendix B Demonstration Feedback Form Thank you for attending the VersAccounts web conference. While the meeting is still fresh in your mind could you please provide us with your Feedback and Observations? Our goal during our engagement with you is to make it as easy and quick for you to get the information you need to make your assessment of fit. The Feedback you provide will help us to continue doing that better and better each time we engage with a Business like yours that is looking for a solution. Thanks in advance for taking the time to engage with us and provide us this Feedback. 1. Did you find the Presentation useful? Did you already know everything that was presented or did you learn anything new? Were there any additional areas that you wished we had covered? Were there any improvements we can make to the Presentation for the next time we present to a Business like yours that is looking for a Small Business Cloud ERP solution. 2. What was your first impressions on seeing the VersAccounts Small Business Cloud ERP software? Did you like the User Interface, look and feel? What about the Functionality? What did you like. What were some of the deficiencies? 3. What areas (Modules, Functions, Features) did you like best and what areas do you think require more explanation or additional capabilities? December 2014 Page 19 Copyright VersAccounts 2014

4. Did the Demonstration cover off all the areas that you wanted to see or would you like to have another Demonstration to drill into more specific details? If so, what are the specific areas that you would like to see more of? 5. VersAccounts can assign you a Coach and provide you with access to a Demonstration Account so you can Test Drive the VersAccounts Small Business Cloud ERP system yourself. Is this something you would like us to arrange? 6. Based on what you have seen do you think the VersAccounts Small Business Cloud ERP system is a good fit for your business? If so what are the most important reasons? If not can you please let us know why? 7. How would you rate the Presentation and Demonstration on a scale of 1 to 10 (1 being Dissatisfied and 10 being very Satisfied) Presentation Demonstration 8. Please provide us some Feedback on the Logistics around the Presentation and Demonstration. Did you think the time allocated was sufficient? Too long? If not how long do you think is appropriate? Did you find the web conference software we are using easy to use and navigate? Have you any other Feedback and Observations for us? (We value Feedback and believe it s a Gift!) December 2014 Page 20 Copyright VersAccounts 2014

Appendix C Implementation and Pricing Options C.1 Annual Subscription Fees For illustration only. Final prices are those enumerated in the current version of the VersAccounts Small Business Cloud ERP Subscription Pricing & Implementation Plans, Pricelist Subscription Fees Paid Annually Single User Single Entity Unlimited Users Single Entity Single User Multiple Entity Unlimited Users Multiple Entity Timesheet only User $49/user/month $999 per month $79/user/month $1499 per month $10/user/month Phone/Skype support 24x7x365 Email & Community support 24x7x365 Depends on Implementation Plan Included Storage Fees Full Database Download Annually Monthly Weekly Daily Permanent Sandbox System 500GB Included $50/month per Additional 100GB Paid Annually Included $50/month $150/month $300/month Setup $2,500 Annual 20% of Subs Refresh /Sync $1500 Iceberg Subscription Setup $500 Annual 10% of Subs December 2014 Page 21 Copyright VersAccounts 2014

C.2 Implementation Options For illustration only. Details can be found in Small Business Cloud ERP Implementation Guide - this is available to download here Key: Customer = Customer may complete the Task themselves Chargeable = Task will be completed by VersAccounts for a Fixed Fee. Customer or Chargeable = Customer may complete the Task themselves or VersAccounts can complete the Task for the Customer for a Fixed Fee. Quote = Fixed Fee will be Quoted for the Task by VersAccounts after determining exact Requirement. December 2014 Page 22 Copyright VersAccounts 2014

C.3 One Time Implementation Fees For illustration only. Details can be found in Small Business Cloud ERP Implementation Guide - this is available to download here. Final Prices are specified in the current version of the VersAccounts Small Business Cloud ERP Subscription Pricing & Implementation Plans Pricelist. December 2014 Page 23 Copyright VersAccounts 2014