Many businesses utilize Quickbooks as their first accounting software—and there’s nothing wrong with that. But eventually, your organization will come to the point when QuickBooks is no longer serving your interests. Graduating to a platform that can do more for your business should be exciting. But how do you know when it’s time to start looking elsewhere?
Here are six signs that your company has outgrown QuickBooks, and you’re ready to move on.
1. Accounting Issues
The first and most obvious sign that your organization has outgrown QuickBooks is that you’re experiencing a greater number of accounting errors. An accounting system should be decreasing, not increasing problems. You shouldn’t be wasting time on fixing mistakes.
Similarly, if you find that billing takes forever, reconciling your bank account is a nightmare, or converting to other currencies produces errors, then it’s probably time to make the switch.
2. Security or Compliance Issues
Depending on your industry, using QuickBooks can put you at risk of noncompliance. Are you confident your business would come out of an audit squeaky clean? If your answer is anything other than a resounding “yes,” then run—don’t walk—toward a solution that can put your mind at ease.
Playing between the lines of compliance is no joke. Are you willing to risk fines, legal reprimands, and your client’s loss of trust?
3. Duplicate Data into Multiple Systems
Trick question: Would you rather do more work or less?
Manually entering the same numbers into multiple platforms and systems is no way to run a successful business. It’s a waste of time and effort. QuickBooks isn’t meant to manage processes outside of financials, so if you find yourself running financial reports outside the capabilities of QuickBooks or manually syncing data into other systems, it’s time to look for a platform that can do it all.
4. Bogging Down Business Processes
The more data you feed into QuickBooks Desktop, the slower it runs. When time is money, slow business processes can become a money pit. And that’s not to mention that the application could crash if it’s overloaded. Can you imagine the disaster it would be if you lost all that information?
Since QuickBooks Desktop uses a proprietary database, importing data from outside systems like payroll, billing, receivables slows down your business processes as well. If your organization has needed to find workarounds to get the job done, that’s a sign you’ve outgrown QuickBooks.
5. QuickBooks isn’t Scaling with Your Business
If your organization is hitting limits in QuickBooks, that doesn’t mean you should start using spreadsheets! It means that you need to look for a solution that better fits your demands. You’ve quite literally outgrown the platform.
Don’t give up functionality just because you’ve been successful enough to hit the ceiling of QuickBooks’ capabilities.
6. Reactive Instead of Proactive
Your financial management software should be helping you make informed decisions. QuickBooks offers your organization a “plug and chug” type of management. But if you’re looking to make proactive decisions, then you’ll need to look elsewhere.
Not receiving actionable insights from QuickBooks is a tell-tale sign that it’s time to move on to a platform that can offer intelligent budgeting and forecasting.
If you recognize these issues, then it’s time to look for a solution that will meet your needs. Microsoft Dynamics 365 can address all the signs mentioned, plus a whole lot more! Drive agility and growth through better financial controls and make forward-thinking decisions.
Implementing a new financial platform is easier said than done. Reduce the burden on your internal IT team and allow Rangeline Solutions, a Nexer Group Company to implement the Microsoft Dynamics 365 solution that meets your needs.
Rangeline Solutions, a Nexer Group Company is a boutique ERP solutions provider that drives digital transformation for manufacturing and distribution organizations. Our services guide our clients through an ever-evolving world and position their supply chains for continuous improvement into the future. Leveraging our specialized supply chain and Microsoft technology expertise, our team designs a tailored solution to increase efficiency and optimize processes.
We would love to chat more with you about bringing your software up-to-date to meet your company’s needs. Contact us today.