QuickBooks is a great entry-level accounting solution. However, as your business grows, QuickBooks may not be able to keep up the pace. There are telltale signs you've hit your limits with your current business solution, and when those signs begin to pop up, it’s likely your future growth is at risk.
We have compiled a list of the top 10 signs that your company could be outgrowing QuickBooks. In this 10-part blog series, we will address these common pains to help you identify whether it’s time for a change.
Sign #1: Looking Backward Instead of Forward
It’s always wise to check the books before making any important business decisions. Unfortunately, when using an entry-level accounting software platform such as QuickBooks, the answers don’t come as easily or quickly as the questions. While you can draw some financial detail from QuickBooks, you need to know how it will impact other areas of business. If it’s not connected to those areas, then you never really have a real-time view of overall operations. Constantly going back to the books to check the numbers means the amount of time you spend gathering data makes the data you’re gathering out of date.
In order to make decisions to grow your company, you need real-time access to critical business data. If you are unable to get your hands on detailed financial reports, then you're unable to know where your business stands. Are you making or losing money? Is your profit margin high or are you just barely breaking even? You know you’re outgrowing QuickBooks when you’re so busy looking at reports focused on a backward view of your business that you don’t have time for planning and capitalizing on your future.
A business solution, such as Microsoft Dynamics GP, is a comprehensive enterprise resource planning (ERP) solution that puts all of your important data right at your fingertips without added complexity. With quick access to financial, manufacturing, inventory, and other key data, you won’t need to waste time calling managers or digging through the books. Powerful and personalized business intelligence makes it easier to make the smart, quick decisions that drive growth. In addition, you can also spot trends with customers, suppliers, and internally that you can use to your advantage.
With more insight, you can boost profit margins by sharpening your supply chain, improving productivity, and optimizing cash flow. Outperform your competition by being the quickest to respond to customer needs. With an ERP solution such as Microsoft Dynamics GP, you have the ability to know what your customers will want or need before they do and still maintain the profit you need to grow strong.
Join us next week when we explore the next sign you’re outgrowing QuickBooks: You Are Unable To Take Advantage of the Latest Cloud Technology.
Learn how Novadent, an Issaquah, WA-based dental laboratory, gained business success by moving from QuickBooks to Microsoft Dynamics GP.