In this continuing blog series, we will address some of those common pains that will help you identify whether it’s time for a change.
You’ve Outgrown QuickBooks When… Your business insight isn’t very insightful.
Companies used to track and update general ledgers by hand in notebooks or in rudimentary spreadsheets on the computer. Basic accounting software soon followed, and QuickBooks
was amongst the leaders to capture the accounting software marketplace. While QuickBooks is great entry-level accounting software, it has its limitations and these limitations may now be hindering your overall business efficiency, profitability and growth.
Growing Pain #2: Limited Financial Insight
Financial data and cash flow is the lifeblood of your business and if you’re not sure it’s on track, then running everything else can get quite difficult. Although QuickBooks helps businesses move from manual calculations to automatic reconciliations, growing businesses need to know more
about their finances than what QuickBooks can provide. You know you’ve outgrown QuickBooks when you have to manually combine cross-department or multiple business units’ financial
reports to figure out cash flow, budget and forecasting projections, and profitability.
There comes a point when basic accounting software can’t provide the financial insight you need to support a growing business. A business solution from BMI and Microsoft Dynamics NAV provides a complete solution for your business operations without the complexity of traditional enterprise resource planning (ERP) software.
An end-to-end view of your business in a solution will make it easier to track cash flow and expenses, create realistic forecasts, and make the swift, confident decisions that drive business growth. In-depth financial insight, such as real-time access to expected costs, cash flow, and accurate revenue reports, are essential when determining the profitability of the products or services you offer. You simply can’t get 360 degree insight from basic accounting software.
Join us next week when we explore the next growing pain: Weak Audit Trails.