Is Your Accounting Software Your Achille's Heel?
How’s your business doing? On the surface, things may seem great. You are landing new accounts, keeping your clients happy, and building a positive reputation for your business. But behind this bright facade, you may be starting to notice problems emerging in one of your company's fundamental support structures – your business accounting software.
Detecting a problem – the telltale signs
It goes without saying that money management is critical to the success of your business. Good business accounting software lets you know where you stand financially, saves time with routine accounting tasks, and takes the guesswork out of keeping your books and preparing taxes. But ask yourself a few questions, and you may realize that trouble is on the horizon.
Is your system sluggish? If your staff is spending time cooling their heels while waiting for information to process, you’re cutting into their productivity.
Are you wasting time by re-entering data between multiple systems? If your system is a patchwork of disparate applications, you run the risk of compounding errors and making them hard to track down.
Is your staff having trouble keeping up and devoting extra time to software-related tasks? Your business shouldn’t be about devoting time to making your software work – it should work for you.
If you’re saying “yes” more often than you like, the takeaway is obvious – your accounting software system is holding your business back.
Let’s do a deeper dive
You’ve identified that there’s a problem. Now look for some of the underlying problems that may be causing it. The following are common underlying problems in your software systems that are causing the symptoms you’ve identified above.
Your business is being run on excel spreadsheets. While spreadsheets are a useful accounting tool, employees will quickly reach their limitations, causing them to have to step outside of the system to create workarounds if they want to get things done.
You’ve had to excessively modify or customize the system. Modifications to your software can create a domino effect of new problems cropping up, meaning more modifications and workarounds.
Your CRM system is detached from the accounting software system. This means that valuable customer contact info, interactions, and accounts are a diffuse cloud of information that can’t easily be integrated into your overall software system.
Your reporting gives you plenty of data, but little insight. In today’s fast-paced business world, you need to be able to understand not just what happened, but why it happened. Raw data just doesn’t cut it – you need a system that helps eliminate guesswork with solid analytics.
The bottom line is that if your software isn’t effective, it’s much more difficult to compete effectively in your industry.
The upgrade upside
If you’ve identified these problems, you owe it to your business and yourself to take the important first steps in finding a new software system that will accommodate the growth of your business. Consider these reasons why that upgrade will pay off.
You’ll be prepared for future growth in transaction volumes.
Process automation will free up human resources and improve customer response times.
You’ll be able to keep your finger on the pulse of your business with improved reporting and analytics.
Routine tasks will be handled with less time and effort, letting you concentrate on strategic thinking.
New solutions in the cloud
There are a growing number of small to medium-sized businesses who’ve discovered that cloud-based accounting software offers a viable solution to their needs. They offer easy access to your finances from anywhere, improve team-wide collaboration, and scale up quickly when you need to grow.
SuiteSciens has the experience to help you weigh all the cutting-edge accounting software options available for your business. We’ll help you create solutions that will enhance your business and accommodate your business’s future grown. Contact us for information on upgrading your accounting system.