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When’s the Right Time to Upgrade from QuickBooks to ERP?
Small businesses around the world manage their finances using QuickBooks, so how do you decide when it’s time to upgrade to a different solution? We’ve identified 5 warning signs of outgrowing QuickBooks and discussed its reporting and integration limitations at length – but what should you do if these issues are only just beginning to show up in your business and systems?
For most companies, the process of outgrowing accounting software is gradual, and you can make ends meet for a while before there’s a glaring problem or costly mistake. Sure, better accounting would be nice, but at what point is it worth the cost of upgrading to a new solution?
Here are 3 key considerations that might help you decide whether to act soon or wait:
- The more of a data bottleneck you experience, the more time and money you’ll waste. This isn’t just a matter of paying staff to do tasks manually, it’s a question of how many opportunities you might miss due to limited financial visibility. Unfortunately, you might not realize you’re making ineffective decisions until those choices have a negative effect on your business. And of course, the negative consequences are harder to catch if your accounting struggles to keep up with the most basic bookkeeping.
- Sticking with QuickBooks for too long often entails creating complex workarounds that make implementing a new solution more difficult and therefore more expensive. If your books become a mess, you might find yourself stuck doing a lot of costly data sorting before you can use a new accounting system.
- If you switch to an accounting application that can grow with your organization, you’ll be able to use better analytics and better financial insight to encourage growth; in contrast, many growing businesses don’t upgrade until after QuickBooks and their accounting processes have held them back for some time.
These three points are the reasons that we recommend upgrading from QuickBooks before you outgrow it. For a growing business, the hidden costs of staying with QuickBooks outweigh the price of finding and implementing a more scalable accounting solution. Unfortunately, we frequently talk to businesses that have waited far too long after they’ve outgrown QuickBooks; many of them find themselves wasting all of their time and patience on their accounting. Don’t wait for the situation to become dire – upgrade sooner rather than later. We can help ensure the transition is seamless – contact us.
Interested in learning more? Download our ebook, Is Your Business Outgrowing QuickBooks? to dive deeper into these issues and determine if it’s time to upgrade.
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