25 Nov Have you outgrown your accounting software?
As your business grows, so do your accounting requirements. It may be easy to realize that you have outgrown manually tracking your business’ finances on Excel. It’s a little harder to accept that you may have outgrown your entry-level accounting software system that does not support your growing needs. There are a few easy-to-spot signs such as extensive manual operations, visibility limitations, a rising number of users, tedious production management, and restricted functionality. Are you ignoring the signs that you have outgrown your accounting software?
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The future of business is Integrated.
It’s interesting to see the transition business make as they grow in size. When you’re still a small mom-and-pop operation, there are no separate departments. Indeed, due to size and limitation in resources, you are forced to work in an integrated manner.
However, as our businesses grow, we tend to fall into the trap of separating our operations. We employ more people and assign disconnected software solutions that are designed for each department’s exclusive needs. In the long run, this practice is limiting as the future of business is integrated.
Have I outgrown my accounting system?
Considering that your business may have grown to a level where you have multiple departments, maybe even multiple locations, there is a cost to pay if all those departments and sites operate as silos. It is at this point when you need more than just an accounting system. You require an Enterprise Resource Planning solution (ERP).
An integrated ERP allows you to control every aspect of your business from a single application. It allows for data to flow seamlessly through the company, down to your financial statements.
The limitations of a basic accounting software package
The time wasted when your staff to enter data into your basic accounting system and then enter the same data into another system could be better employed.
If your departments and multiple business locations are operating as silos, you miss out on the opportunity to spot opportunities to improve productivity and optimize your spending. ERP software provides a full-view of your entire business from one interface. Increased visibility allows you to gain better insight into your business operations enables you to make more accurate and informed business decisions.
Many businesses have unique requirements. You may require a system that caters to your industry-specific needs. It is imperative to invest in an ERP system that provides the functionality you require and can adapt to your growing needs of tomorrow. Ease of use is also crucial. A system that is intuitive and has a shallow learning curve will reduce any business interruption.
Equally important, the provider you choose to implement and provide support must be experienced and reliable. Brilliant Link is an award-winning Sage Evolution and Acumatica business partner, and we would be glad to guide you in selecting the ideal ERP solution for your business. Have you outgrown your accounting software? Give us a call on 011 792 9521 or email email@example.com and request an obligation-free needs analysis.
Choosing financial systems can be a daunting process, but with the right partner, it need not be so. Choosing the right solution ensures that you are complying with industry regulations. An integrated solution enables you to maintain adequate stock levels, and saves money on unnecessary costs of the poor financials of an entry-level accounting system.