QuickBooks, arguably the most ubiquitous accounting software on the market, is designed to help small and medium-sized businesses manage their bills and payroll, get invoices paid, accept payments etc. Widely used as a starter accounting system by organizations across industry, about 85% of our new Dynamics 365 Business Central clients come to us when they can no longer run their businesses with QuickBooks.
Dynamics 365 Business Central is Microsoft’s first pure cloud-based ERP solution. Because is it purpose-built, designed to scale as you grow, it is now the logical place companies look to compare against QuickBooks. As such, people are always asking us, “How does Business Central compare to QuickBooks?” If that question is on your mind today, keep reading.
First released in 1983, QuickBooks has the benefit of longevity on the market and an established market presence. Part of its appeal to so many users, is the ease of purchase and set up.
However, this simplicity belies a lack of sophistication, evident in its limited reporting options; QuickBooks doesn’t offer deep analytical capabilities or customer insights reporting.
With a recent study reporting that that over 90% of consumers would consider taking their business elsewhere, rather than work with a company that uses outdated technology, it’s important that you carefully choose the right technology for scaling your business.
Once you find that your QuickBooks software cannot provide insight into your cash flow, provide accurate overview reports or help to control inventory, it’s time you find a robust and scalable platform that will equip you to grow and succeed.
Microsoft Dynamics 365 Business Central
For sustained business growth, businesses must have access to a 10,000 foot view, as well as detailed insights into how their individual processes are working.
Few tools provide better insights than Microsoft Dynamics 365 Business Central. Dynamics 365 is a pure cloud solution designed to simplify your business processes through automation, connecting all your process flows in one system and providing seamless integration with Office 365 and other Dynamics 365 applications.
Backed by Microsoft’s new Power Platform and the AppSource marketplace, Dynamics 365 is designed to scale as your business grows. With end-to-end functionality and a comprehensive suite of capabilities, available at a fraction of the price of other pure cloud ERP’s like NetSuite, Dynamics 365 is priced to sell.
Microsoft Dynamics 365 Business Central Features
Still not sure which accounting software is right for you? Let’s compare 5 key features:
Ease of Automation
With QuickBooks lacking depth of capability, users find that they must be more hands-on with the software, as they add new products and their business processes become more complex.
In Business Central however, connected process flows across accounting, sales, purchasing and inventory, allows users to leverage automation to simplify and streamline their work – all within one unified dashboard.
Extensibility & Customization
QuickBooks under-performs when addressing functions like reporting and provides generic and impersonal support.
Built on Microsoft Azure platform, Business Central ships with embedded Power BI for advanced reporting and you can rely on an extensive and experienced partner network to provide implementation services, training and support.
Accounting software like QuickBooks can only provide users with a snapshot of sales performance for a given period.
What if you need to know which products are producing the highest margins?
Through user-defined KPI’s and dashboards, Business Central provides visibility into what drives the profitability of your business. It offers insight into current activities and trends, helping you prioritize sales leads based on revenue potential and uncover your best-performing up-sells and cross-sells.
Plus, leveraging the Azure platform, Microsoft is investing in AI and machine learning to further enhance Business Central with predictive insights that will suggest the best possible choices for you to make given the aggregate data available – like your own personal robotic assistant!
QuickBooks has a security protocol works best when you have a few users. As your company grows, and more people access your system, this basic security system just isn’t good enough. In response businesses will excessively limit some users or give too much access to others, leading to organizational inefficiency.
With Business Central, you get extremely granular control options, as functions can be limited by permission, groups, dimensions or accounts. You can even use built-in workflows to add an additional layer of security.
Scalability and Efficiency
Yes, QuickBooks is a good fit for smaller companies, but once you achieve a certain complexity/size, processes like job costing, inventory management, reporting, and forecasting start to become a challenge in QuickBooks.
With a robust ERP solution, your environment will grow with you, adding apps and functionality along the way. Easily configurable and extensible, you can further customize Business Central to create a unique solution to accommodate your business or industry needs.
The Verdict: QuickBooks vs Dynamics 365 Business Central
QuickBooks works, for growing startups that need a good entry-level accounting solution. Beyond that, a more robust financial management solution like Microsoft Dynamics 365 Business Central is essential.
Given the depth of data and the visibility it provides, Business Central is a complete and reliable solution for your business. At Admiral Consulting Group, we recommend Business Central as the best option for businesses with a plan for growth.
Whether you are aiming to optimize your operations, deliver projects on time and under budget, or simply sell smarter, Microsoft Dynamics 365 Business Central can help you achieve these goals.
To learn more about Business Central and see if it’s the right fit for your business, or to inquire about our software consulting services, click here to set up a no-obligation consultation today.