Is it time to loosen the belt on your accounting software?


We’ve already spoken about the kind of promises that people make themselves at this time of year. Top of the list for many will be losing a bit of weight. Let’s face it, the excesses of Christmas and New Year can have a negative impact on your waistline!

The pressures that your belt might be facing at this time of year isn’t too dissimilar to the owner of a growing business who’s still using an old, out of fashion, unreliable and frankly not-fit-for-purpose, entry level accounting system. And ERP fits the bill perfectly.

PUSHING THE LIMITS

Why continue to push the limits of your system when you can quite easily upgrade to an ERP solution that fits your current and future needs? An updated accounting system can cover all required departments and manage any additional strain when it’s pushed. Unfortunately, you’ll often hear the same old excuses about not being able to afford it, which means trying to squeeze a few more years’ wear out of it.

The truth is, it probably won’t last that long, and you’ll have to accept that you’ll need a big solution. The benefits of migrating to an integrated business management solution like ERP are going to pay dividends in the long run and, while you might initially think that the cost of changing is too much, if your business continues to grow at an increasingly fast rate, by investing now you should see a return on that investment much faster.

A SYSTEM THAT GROWS WITH YOU

Entry level accounting software may be fine for a business with no ambition for growth, but if your business is looking to build on recent success, perhaps moving into new areas and expanding, then you need to think about replacing it with a more up-to-date, functional system.

Here are some of the key indicators for when it’s time to give in the fight and loosen the belt on your accounting software.

    1. 1. Increased business means more transactions – low level accounting software is limited in the number of transactions it can process.
    2. 2. Duplication – Standalone entry level accounting software can often mean that you have to re-enter the same information in another system, losing you time and money.
    3. 3. Reporting – Pulling together information from various islands of information so you can report on performance and profit can be a three day task.
    4. 4. Multi branch/Multi Software – Some entry level accounting software can only be used in one location. Multi-systems across your group result in multi-sets of accounts.
    5. 5. Creating Workarounds – Managing your data becomes more complex, which results in you trying to work within the limits of your system and create workarounds.
    6. 6. Dependency on Excel – You are managing the majority of your accounting and supply chain processes in spreadsheets instead of in your accounts software.
    7. 7. User access – Entry level accounting software limits the number of people you can have working on it at one time, so when your business grows your system needs to grow with it.
    8. 8. Technical restrictions – You can’t take advantage of the latest technology such as cloud deployment or accessing your data on a mobile device,
    9. 9. Scalability – Basic accounting software will not allow you to increase numbers and move in to new business areas.

 

However your waistline might be right now, you know that you can do something about it. You’ll either change your diet or your trousers! And if your accounting software is on its last belt buckle, at ERP Central we can help you make a change and upgrade to a system that allows you to adapt, evolve and grow your business.

Written by Mark Blackmore, Head of Telemarketing at QBS Group


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