Serving Clovis, Portales and the Surrounding Communities
Serving Clovis, Portales and the Surrounding Communities
STAFF WRITER
New Mexico businesses are investing in business management software at a rate rivaled only by Alaska and Texas, according to a study conducted by Wisconsin based organization Find Accounting Software.
Ace Hardware Co-Owner Rustin Self said the software his business uses is able to track sales and make automatic orders that help keep inventory stocked and provide feedback that assists management in making business decisions.
“It’s key,” Self said. “It tells us where we are profitable and where we are not. It helps us forecast what we should be doing.”
The study, conducted between 2010 and 2014, gathered data from 27,824 businesses from across the U.S. that used Find Accounting Software to explore business management software options.
The businesses in the study invested in software that assists in helping with accounting, human resources, project management, customer relationships, and the supply chain.
Find Accounting Software Managing Editor Adam Bluemner said the software companies invested in was used to boost efficiency and provide feedback used to make business decisions.
According to the study, New Mexico holds the second largest percentage of companies investing in new business management software in the U.S.
According to the study, New Mexico companies invest in new business software at a rate 33% higher than the average U.S. company.
Alaska was ranked first with companies investing at a rate 45 percent higher than the average company while Texas ranked third with a rate 30 percent higher.
Bluemner, who interpreted the data for the organization’s website, said while Texas and Alaska could attribute the percentage of companies investing in new business management software to strong state economies, New Mexico was an exception to the rule due to it’s ranking as 26th among state economies in the U.S. according to a study conducted by the American Legislative Exchange Council (ALEC).
Bluemner said that Alaska’s economy ranked 11th in the country and Texas’ economy ranked 1st.
Bluemner said the reason for New Mexico’s high rate of investment in comparison to its economic stature could be due a delay in the effects the business software has had on the economy since the ALEC study was conducted.
Self said when his company was looking into business management software, price was the determining factor.
Bluemner said that New Mexico companies that invest in business management software spend 30 percent less than the national average when buying software.
Do Drop In Co-Owner Kamille Mountjoy said she tried using business management software when she first began her business, but has since decided to handle her business herself.
Mountjoy said she prefers to do her business management herself using programs like Microsoft Excel to handle the accounting and inventory tracking.
