Have you often wondered if your accounting software system needs to be replaced? Here are some common signs that can help you recognize it might be time.
Age of the Accounting Software System
Visibility of Data
Another sign that your accounting software needs to be replaced is the visibility of your data. Oftentimes, companies struggle to discern what their margins are on products and services, and the best they can do is blend together high-level or average data to achieve these metrics. Really, you can only go so far when you don't have the data that you need, and this results in a lack of confidence in the data and the process overall as you try to unravel these mysteries.
Insufficient workflows are another sign that you need new software. Just think about the workflows that you might be doing. What does it take to initiate an order or to get a requisition started and approved? Think about the manual hand offs that you go through day to day and how many systems you have to enter the same data into. I mean, if you're facing lots of workflows and workarounds and spreadsheets, that's a huge indicator that your software needs to be replaced.
You Recognize You Need New Accounting Software, So Now What?
Cheer up, because
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by Gary Volland, The Resource Group