4 Signs Accounting Software Is Holding Your Business Back

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4 Signs Accounting Software Is Holding Your Business Back

The early stages of a startup require accounting software that ’s easy to implement and use. But, eventually, your business outgrows its software, at which point you need to choose an alternative solution or risk missing information that’s vital to the growth of your organization.

Insufficient business accounting software holds companies back in a few ways:

  • Without a robust system, you lack the data to make informed business decisions.
  • Your operational costs go up because users spend too much time on manual processes.
  • Cash flow management and forecasting become harder, if not impossible.
  • Customer satisfaction decreases due to an inability to meet requirements.

If your business is on the rise and your staff and client base are growing, it’s time to start looking at new accounting software. How do you know if you’re ready for an upgrade?

When you start seeing these four signs, it’s time to switch to a more agile and robust accounting software solution:

  • Too much time spent in Excel. Loss of productivity is a result of supplemental systems that contribute to duplicate data and limit access to timely information.
  • Poor internal controls. As you hand over more trust and responsibilities to employees, you need the tools to enforce audit trails so as to avoid fraud and false claims.
  • Lack of integration between systems. Your accounting software may handle check cutting, but what about tracking cash flow between e-commerce, retail, service in the field and other points of sale?
  • Slow response time. If you’re dealing with high volumes of data, your system may slow down or lock up, and the only way out is to purge data or risk productivity.

Depending on the size and growth phase of your business, the list of software strains may go on.

Of course, if upgrading accounting and financial software is out of reach for any reason, there are a few solutions available to hold you over until your organization is ready to make the jump:

  • Improve reporting functions.
  • Develop approval workflow.
  • Develop single-data-source integration.
  • Upgrade your network.

Many options exist today for businesses to overcome constrained growth due to inadequate software. By choosing the best software fit for your business, you refocus your energy on the future of your company instead of dealing with software pains.

Microsoft: Software Tailored To Your Business Operations

One option many businesses consider is the software selection available from Microsoft. Microsoft offers ERP software that goes well beyond traditional stand-alone alternatives. Whether you’re a small or medium-sized business, Microsoft Dynamics software empowers your employees to be more productive and gives you insight into every business activity ­– manufacturing, distribution, sales, supply chain management and more.

Best of all, Microsoft software allows your business to grow beyond your accounting software to meet the demands of your industry and customers in new ways.

To learn more contact one of our consultants today by clicking HERE

 

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