You may have used QuickBooks since you started your company, and it’s supported some growth. But are you starting to see signs that QuickBooks is failing your business? Review these five points and see:
- It’s difficult to find out what’s really happening across the business in real-time.
QuickBooks was designed for a time when companies could wait until the end of the month to get the data they need. That’s definitely not what companies need today—most companies need up to the minute info on sales, income and expenses. If that’s that you’re looking for, then cloud financials are probably the answer for you.
- Your team is manually entering and reconciling data across systems.
If your team is spending time entering data in different systems and then trying to track down discrepancies, you’re burning money while trying to save on a less expensive software. You will probably find that investing in a better business management solution will save you quite a bit of money in the long run.
- You’re losing sales because employees can’t get the information they need fast enough.
Customers now expect to get real-time stock availability, delivery schedules and more at the time they place their order. You can’t possibly provide this level of real-time responsiveness with limited desktop systems like QuickBooks. Don’t let your software system’s limitations curtail your company’s growth.
- Your staff is doing more accounting outside of QuickBooks than in it.
If your staff is resorting to Excel spreadsheets and other workarounds to get your accounting done, there’s a reason: QuickBooks was designed to automate a limited set of core accounting functions. It’s easy to run out of space when a company has more customers, vendors or inventory items than QuickBooks can really handle. If your finance team is forced to use several different applications to do their jobs, your company’s finance needs have probably become more complex than QuickBooks can handle.
- You spend too much time worrying about technology instead of assessing your business results.
If you or your team are spending time figuring out how to get the information you need out of multiple systems or spreadsheets, you’re wasting time that could be put to better use actually looking at results and finding ways to improve them. Newer business systems are built to be flexible and easy to use, giving you the information you need without having to wrestle it to the ground.
In addition to these items, your management team may want more sophisticated dashboard and KPI tools than QuickBooks can provide. This can also hobble effective management of your company.
Want to find out more? Get the free white paper, From QuickBooks to Cloud Financials and find out the additional signs that your company has outgrown QuickBooks.