It’s a fact of life, as businesses grow they become more complex and customers begin demanding faster and better service. And sometimes, the software that served you well initially begins to stand in the way of your business being able to realize its full potential. And, while replacing an important system like your accounting software can seem like a daunting task, you have to also ask yourself “what is the risk of continuing with a system that’s a struggling to support my business?” These costs often come from a variety of sources, including lost sales, dissatisfied customers, inability to meet compliance regulations, and poorly informed decision-making.
That said, you are probably wondering, “how do I know if I have outgrown my accounting system?” Here are a few of the main warning signs.
- Sales suffer due to production delays or inventory issues
- Manual processes that used to work for your business can no longer keep up with demand, even after you increase staff headcount
- Manual reporting processes make month-end closing very difficult and time-consuming for your accounting employees
- You find yourself struggling to keep up with increasingly complex regulatory requirements
- You lack confidence in your business intelligence data. You are not able to confidently invest in new locations, lines of business, products etc. in order to grow your business further.
- You lose valuable employees or prospective hires because you cannot offer the mobility and flexibility the modern workforce has come to expect.
Do any of these sound familiar? If they do, it is time to make a change and give your business the modern accounting software it deserves. To learn more about what’s involved in replacing your accounting software,
Also, if you’re interested in exploring a few of the top of the line ERP systems SMBs in your shoes often look to when replacing their entry level accounting software,
By: Laura (Heinbockel) Schomaker, Intelligent Technologies Inc., a South Carolina Microsoft Dynamics and Acumatica ERP partner