You started your business using QuickBooks, and it has worked well. However, recently you have noticed bottlenecks in your accounting cycle. What is the problem? The better question to ask is, what are the signs that your business has outgrown QuickBooks?
To get the answer review the list of signs and you might see that it is time for an update to your accounting system.
You have outgrown QuickBooks if:
- You want the ability to create multiple company consolidated financial reports in a custom format that suits you.
- You need SOX Compliance and audit controls.
- You are spending too much for IT staff to manage solution for other areas of your business.
- You want to accept multi-currencies from customers and cannot.
- You are paying extra to manage customer relations and e-commerce.
- You need real-time reporting and timely analysis for informed decision-making.
- You wish you had completely automated quote-to-order process.
- You find it hard to know what your true cash balance is.
- Importing data into your current system from outside sources is impossible.
This list of signs that you have outgrown QuickBooks touches on the basics. Some companies hang on to QuickBooks because they fear that changing over to a new system will take too long. Or they believe they cannot afford to switch. Or that they will lose their QuickBooks data by changing to another system. Then there is the doubt that the employees cannot learn new processes, so it is better to stick with QuickBooks.
If this has made you realize that you have outgrown QuickBooks what next? First you should prioritize your functional requirements. Then make a budget for how much you can afford to pay for a new system. Lastly, research the options.
Preparing for the transition is easy if you find the right company to do your installation BuyERP.com has years of project implementation experience. We use “a simple and refined approach that produces the highest quality and lowest risk.”
Contact us to see how we can help you with your new ERP system.
Written by J.K (Sales Team)