Have you Outgrown QuickBooks?

As your business grows in size, it usually also increases in complexity. Therefore, the tools that once supported you may now be hindering you. You’re faced with an important decision: replace your basic accounting software or continue down a path that leads to dissatisfied customers, lost sales, and the risk of falling behind your competition. If you recognize any of these warning signs, the time has come to make a change.

    1. You’re managing inefficient manual processes that reduce productivity and introduce errors or require additional staff. Accounting software has changed tremendously over the last several years. Cloud technology and increased functionality increase accessibility and save time and headache. If you are using outdated technology, you’re probably also juggling multiple Excel spreadsheets and re-keying data unnecessarily.
    2. You are doing more accounting outside of your accounting software than in it. Outdated or ill-fitting accounting systems tend to create a need for one-off lists and manually updated spreadsheets that are disconnected and hard to reconcile. Without a centralized, holistic view of your data, future growth is stifled, and making educated decisions about new product lines or locations is nearly impossible, not to mention risky.
    3. You’re losing sales to competitors with inferior products. It doesn’t matter if you’re the best of the best—if you can’t provide visibility into available stock, account information, or self-service options, customer service and sales will suffer.
    4. You spend more time searching for information than you do planning for ways to grow your business. Your passion is to innovate for your customers, not spend endless cycles digging for details buried in disconnected applications and those pesky spreadsheets. If strategic thinking and growth planning are taking a back seat to an ever-growing to-do list, it’s time to modernize your technology.
    5. Your ordering process still requires a telephone or fax machine, and no matter how many employees you hire, you can’t keep up with demand. Outdated technology can’t keep up with the pace of today’s businesses. Customers who don’t get served quickly and conveniently (or can’t serve themselves easily) usually won’t return.
    6. You would rather wrestle a bear than face your impending audit. If you need to become fully GAAP-compliant or just need more control, today’s financial software produces audit-ready data and allows your auditor read-only secure access to your data, simplifying the audit process for you. If you do not have an audit trail, or workflows in place to protect your assets and keep you compliant with industry regulations, you could be putting your company at risk.
    7. The high and lows of your cash flow cycles make you wonder if a crystal ball would really work. Without an accurate, comprehensive view of where you’re spending and earning, knowing when and where to cut costs is going to take more than luck. Today’s accounting software features powerful tools for real-time business intelligence and flexible reporting. Accounting dashboards make explanation to those outside accounting easier, and the insight and time saved allow for more strategic planning.
    8. You’re “pretty sure” you have that product “somewhere” in your warehouse. If your system can’t tell you what is in stock, what is on order, and what is allocated to a customer, you’re not alone. Surprisingly, many highly visible and sophisticated companies operate without a firm handle on their inventory. If your software doesn’t easily provide you with this information, it’s time to upgrade.
    9. Every news report on a data breach has you thinking it’s just a matter of time until you face the same scrutiny. You lose sleep worrying about malware, back-ups, security breaches, and fraud. The idea of your sales team’s laptops and devices getting stolen fills you with dread that critical business data may be compromised or forever lost. When it comes to security, modern accounting software uses a variety of methods for keeping sensitive financial data secure.
    10. You are green with envy when watching others run their businesses from a smartphone. When answering a customer’s question means having to first go into the office or call someone else to help, you’re losing credibility and wasting time. You need true mobility to be able to respond to new opportunities and customer expectations.

You may have outgrown your accounting system, but finding the right fit is easy. LBMC Technology Solutions offers several ERP solutions and provides expertise in selecting, planning for, implementing, and supporting the right one for your business.

Contact us to get started today.

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