Have you outgrown your accounting software?
This may seem like a relatively easy question to answer but there are many aspects that are often overlooked when it comes to identifying whether you have outgrown your accounting software. Traditional accounting software are completely different to an ERP solution, therefore hold different thresholds and limitations.
Entry-level accounting software can often meet your needs but can also limit your capabilities. Sometimes, there are functions and features that are either not utilised or are not enough for a growing company that needs more functionality. If your accounting software is limiting you, it can have a negative impact on your employees and other operational processes and departments within your business. An ERP solution means you won’t face challenges when it comes to detailed reporting or integrations with other vital business applications.
In this blog post we have highlighted some key points to help you identify whether you have outgrown your accounting software.
You’re limited without an ERP Solution and you need more user functionality
Many entry-level accounting software packages limit the number of users that can access your system; something you don’t have to worry about with an ERP solution. If you and your employees are having to log in and out using the same login account, you are limiting efficiency and are facing nuisances that can be easily avoided. If your business is growing, then naturally you may have more staff who require access and your accounting software should not slow down productivity or ultimately hinder your team’s performance. You need a feature-rich and enhanced ERP solution.
Your integration is hindered
Naturally, your business may require multiple systems for it to operate and internal communication is imperative for this to be achieved. You need each department and system to be working in unison and if your accounting software is not communicating efficiently with other departments, this breakdown in communication could be detrimental. For example, with an ERP solution, an e-commerce website can communicate with logistics, accounting and a warehouse to manage day-to-day orders. If your current accounting software does not integrate within these processes then a duplication of data input is required, slowing the sales, wasting time and manual resources.
You operate from multiple locations
Following on from the essential aspect of communication, if your business operates in multiple locations, then this will be even harder to achieve without n ERP solution. Many traditional ‘off-the-shelf’ packages struggle to manage multiple locations and if you combine this with a limited number of users, it could limit your business potential.
You need more detailed and accurate reporting for better insight
Using traditional accounting software to record information and input data is one thing but being able to extract this information and have clear, concise and accurate data, reports, KPI’s and dashboards is another. For a growing business it is important that your team are able to extract, analyse and present business information clearly to enable management to assess the profitability of your business; improved reporting is something readily available with a ERP solution. By using an accounting solution that lacks reporting capabilities, it could mean that the reports you are looking at are not giving you a true picture of the businesses health and without accurate insight into your business and how it is performing. This could lead to poor decision making, due to inaccurate data which could lead to negative results for your business.
You would benefit from expert support
Using accounting software can be challenging and whether you are using an entry-level solution or are looking to upgrade to an ERP solution, working with a partner like Micross Logic who offer technical and user support as part of their offering is vital. If you are finding that your business is needing more and more support on your current accounting solution, it may be a clear indication that it’s no longer working for you and it is worth considering upgrading.
Work with ERP Solution experts
Here at Micross Logic, we specialise in working with businesses to help them grow. As a Sage platinum partner and accredited developer, our specialist team can help you identify the weaknesses in your current system and help you transfer over onto a more robust and long-term solution.
Talk to us today and find out how we can help to get your business accounting software working harder to help you grow.