Most companies grow slowly, they slowly gain traction, slowly and steadily grow their customer base, slowly add more employees…you get the point. But over time, they also slowly outgrow their business systems. QuickBooks is a great option for those who are just getting started, but over time companies outgrow the basic functions and features in their QuickBooks accounting systems. If some of the bullet points below strike home with you, then it is a good indication you are ready for a change, you have outgrown QuickBooks. Once you have come to this realization, the next logical question is, “what do I do now?”
Here are some of the most common indicators of a company who has outgrown QuickBooks:
- Transaction volume increases significantly.
- Better control over security becomes required.
- More employees need access to the system.
- The amount of data in the system has grown beyond what QuickBooks can handle.
- You have developed multi-currency needs.
- You need better reporting capabilities.
- Business complexity has increased.
- You have too many disparate systems.
- You’ve come to need double-entry accounting capabilities in your system.
- You need remote access to your accounting system.
- Employees are spending more and more time on manual processes.
- You are having issues with reporting due to data entry errors.
- You are having nightmares of being crushed by piles of spreadsheets.
- You have developed a number of work-arounds in your system.
- You are spending a ton of money on the development of new features in your system.
- You are integrating more and more third party products into your system.
Do any of those sound familiar? No worries, this means you are growing! So, you recognize this need for a bigger, better, more robust accounting system- but where do you go next?
There are a few different options for your next move depending on your current size, projected growth, and system requirements. You will have quite a few decisions to make, and a lot of research ahead of you to make sure you choose the right one. To get you started, we have developed a white paper that outlines budget and cost considerations, as well as an outline of entry-level ERP, Mid-market ERP, and Enterprise ERP to help you figure out where to go now that you have outgrown QuickBooks.