Choosing the right business software is an investment in your company’s growth. Picking the wrong one puts your ability to plan, forecast, or execute in serious jeopardy.
Case in point: A 2016 survey revealed that out-of-date technology costs businesses as much as $1.8 trillion per year in lost productivity. That means the software you thought would scale with your company and take it to the next level could ultimately hinder your growth over the long haul.
These concerns can cause companies to question the effectiveness of every piece of software they use — including one common solution for finances. But what are the limitations of QuickBooks? Because it’s an ideal solution for businesses trying to manage their finances, that’s all it really does. As your company grows, having different platforms for accounting, supply chain, and workflow can become confusing and cause important details to fall through the cracks.
An ERP brings those areas (and more) all into one solution, allowing different departments to speak one language and make more informed decisions. If you’re wondering whether your company has outgrown QuickBooks, try answering these questions:
1. How full is your database? Space is crucial when choosing the right business software. As your QuickBooks database increases, you’re likely experiencing lag and regularly on the phone with tech support.
That’s time not producing, which is time wasted. One of the benefits of ERP software is that its cloud capacity makes space less of an issue.
2. How handy is your data? Do your sales and logistics people need access to information but find it hard to locate?
While QuickBooks provides one layer of those insights, an ERP hosts them all under one umbrella. This means sales and logistics data can be analyzed holistically rather than in a silo.
3. How many hours do you devote to manual processes? Does every process feel like a slog? The benefits of automated business processes mean companies can spend less time on tedious tasks and more on big-picture projects.
Avoid double-entry risks by using a comprehensive business platform that includes every process you need for accounting, warehouse management, and other areas. An ERP can help your team members bring the specifics of their departments in focus and improve whatever processes are on their plates.
The limitations of QuickBooks don’t have to define your growth. Instead, ask these questions and routinely assess how well QuickBooks is servicing your company’s needs. If there’s more to be done, an ERP can handle it.
Are you interested in learning more about our SAP Business One ERP? Visit Consultare for more information.