While all accounting firms continually look to grow their business, the infrastructure to support this growth is usually one-step behind.
Below are six tell tale signs that your firm has outgrown its accounting software…
1. You have too many workarounds.
If you are setting up new workarounds whenever you have a new business demand, or your workarounds have a workaround, it is time to look for another solution that is ready for the next stage of your business growth. Your data is getting more complex as business grows but growth is a good problem to have.
2. Your employees are spending a lot of time on manual entry
Does your team re-key your sales orders into your accounting software? Or keying many lines of journals from another source into your system? If the answer is yes, your people are spending valuable time duplicating efforts.
3. You cannot get the reports you need.
Do you find yourself constantly exporting data out from your accounting system into Excel and massaging it? Do you link different tables from different systems to make your own customized reports in Excel? If your answer is yes, you probably have already outgrown your current software. Stop wasting your time manipulating the data into spreadsheets and invest in software that can serve your needs now and into the future.
4. Your system users are playing musical chair.
Are you maxed out on the number of users that can be in the system simultaneously? This is an inefficiency that you should not have to put up with.
5. You have multiple systems and multiple databases.
Is your data scattered across multiple databases with multiple versions of the truth? Dynamic software can integrate with other 3rd party programs so you can look to one application to retrieve all of your customer, vendors, supply chain, manufacturing, inventory, project, HR and financial data.
6. You are lacking real-time information.
Having real-time access to your data is vital. It enables you to make better business decisions, effectively manage your cash flow and continue to support your future growth. Instead of reacting to the reports of past performance, the right solution can give you your real-time data at your fingertips.
For full article click here.