Your business may be trying to tell you something important...
5 Ways Your Business May Be Telling You It Has Outgrown its Accounting System
All businesses use some form of accounting system, whether that’s a shoe-box full of receipts and a paper ledger, a number of spreadsheets or a dedicated accounting system. As your business grows, its requirements change and what was once good enough may now be woefully inadequate. Here are 5 simple ways your business may be telling you it has outgrown its accounting system:
- Month end is taking longer and longer to close. As the company has grown, there may now be multiple subsidiaries or other entities whose transactions need to be consolidated. If this has become a time-intensive manual process, your business is telling you it may have outgrown it’s accounting system.
- Spreadsheets are taking over. Spreadsheets are fantastic tools for extracting and analyzing data, but too often they get used as a stop-gap to compensate for a missing feature in the accounting system. If you can’t present reports or balances without entering data from a spreadsheet, your business is telling you it may have outgrown it’s accounting system.
- Integration is manual. If you cannot easily pass data between your applications, your business is telling you it may have outgrown it’s accounting system.
- You’re losing visibility into key areas of the business. As the business grows, it’s only natural that new customers, processes, product or service lines grow as well. If it has become a chore to update your key performance indicators, your business is telling you it may have outgrown it’s accounting system.
- Employees are looking for a solution themselves. No one suffers more than accounting and finance staff when a system is sub-par for what is expected of it. Are staff members taking it upon themselves to review and recommend accounting systems to you? If so, your business is telling you it may have outgrown it’s accounting system.
How did you do? Is your business telling you to upgrade the accounting system? If so, we invite you to consider looking closely at the Acumatica ERP product line – it’s cloud-based, so access to it is universal, implementation is fast, so there will be fewer business interruptions, and with no per-user license fees (just a usage fee), Acumatica is poised to support your business’s growth.
For more information on how Aqurus can help “listen to your company”, get in touch with our experts today.