Houston, TX, July 23, 2008 – A wholesale food accounting software expert says scary recession stories are spiking new interest in financing among food distributors who operate their companies with one-size-fits all accounting software.
“Many wholesale distributors of produce, meat, seafood and grocery products have told us that they know that they are sacrificing profits by continuing to use generic, off-the-shelf accounting software packages that do not provide them with information as to which items and customers are or are not profitable, said Henri Morris, CPA, president and CEO of Edible Software, the Houston-based company that designs and sells accounting and inventory software coded expressly for the food distribution industry.
“Food distributors say that they are spooked by all the negative news about a downturn in the U.S. economy and are therefore afraid to spend the money needed to upgrade, even though they will recoup their investment many times over!”
Morris talks about one wholesale produce distributor who confessed that he was using the same QuickBooks accounting package that his sister used to operate her business – “only she owns a gift shop,” he told me. “He said he didn’t know whether to laugh or cry about it.”
It is remarks like this, said Morris, that are motivating more and more companies to finance food-specific accounting software rather than pay for it in cash – “or worse, not upgrade at all.” He said even business owners who are not cash-strapped are choosing to finance food accounting software because they want to:
• Free up working capital for more productive uses and
• Preserve credit lines for emergencies
“Vital business information provided by industry-specific software is generally unavailable from generic packages, and the resulting increased profits will usually cover the cost of financing,” said Morris. He added that lease payments for Edible Software could be as low as $400.00 a month! “It’s sort of like financing a car,” he said, “only instead of your investment depreciating the moment you drive it off the lot – or in this case, install it on your computer – it does the opposite. Custom food accounting software like ours starts increasing profits as soon as it is driven off the lot.”
He said Edible Software outsources to a credit company that specializes in financing software products, “often providing 100% financing with no down payment.”
For more information about financing Edible Software for wholesale produce, seafood, meat and grocery distributors, contact Morris or Charles Butler at (832) 200-8000, or visit the company’s website at www.ediblesoftware.com.