10 Signs You’ve Outgrown Your Accounting Software
So you’re a business and your either using a fully integrated business management system or using a low-end accounting solution.
If you are one of the fortunate ones using a fully integrated business management system, then the likelihood is that the 10 points below are achievable with your system. If, on the other hand you are using low-end accounting software or even basic Excel spreadsheets, then you should read the 10 points below.
If you answer yes to any of the points below, you should consider your options of upgrading to a fully integrated business management system that incorporates finance and accounting functionality.
Some business systems – especially low-end finance and accounting software have a limited number of users that can access the system. Do you find that the application prevents multiple users from operating simultaneously? Is data frozen or corrupted by multiple access?
2. Duplicating Work
Some businesses have unique processes that require multiple systems to operate their business (e-commerce websites, procurement systems etc.). Do you often find yourself or your team members duplicating data and using multiple disparate systems? If this is the case, then you need to look at a business management solution that will provide integration capabilities to provide one version of the truth, and more importantly, more time to increase productivity.
Businesses have a legal requirement to submit their financial information to the government. Failure to do so can lead to prosecution and significant fines. Whether you are a charity that requires full audit trail visibility for Gift Aid purposes, or simply looking to file your company accounts to HMRC and Companies House, you need to submit this information. If you are unable to submit this information easily, then you are likely to be spending too much time on a system that just doesn’t tick the right boxes.
Do you spend far too much time searching for the information in your accounting software than actually analysing it? Without a user friendly interface and de-cluttered dashboard, how easy do you get access to the parts of the system you need?
Using a finance and accounting system for recording information is one thing, creating reports that present all the facts and figures you need is another. Not many low-end finance and accounting systems can actually provide both. If you have to spend time manipulating the data into spreadsheets so you can provide the insight and information to the board then stop! You are simply wasting your time! By the time the report is given to the board for review, it’s useless – it’s out of date. You need a system that provides timely
insight and visibility into your business every step of the way.
6. Multiple locations and/or subsidiaries
Do you have multiple locations or subsidiaries and have to consolidate all this information from separate systems?
Microsoft Dynamics provides a fully integrated business solution that is tried and tested throughout the world. From small businesses with one office to enterprises with multiple locations across the globe, Microsoft Dynamics can handle multiple locations, subsidiaries, languages and currencies.
7. Stunted Growth
Is your current finance and accounting system able to adapt to your business needs and grow with you?
Don’t let your low-end accounting solution hold you back from growing, Microsoft Dynamics provides a scalable solution so you have the confidence that your system grows with you.
Microsoft Dynamics is highly configurable and has a programmable layer where your Microsoft Partner can implement your own customised code. With these tools at your disposal, the business solution can be as unique as your business requires. After all, it’s your business and no one wants to be held back by one-size-fits-all software tools.
8. End of the Line
Low-end accounting software/products promise little in terms of how the product will develop. They have a narrow scope of use and that specialisation is a roadblock to growth and to integration with other facets of your business. If your business needs the ability to adapt to the increasingly competitive market environment, then you will benefit from having a clear vision on where your chosen business solution is heading. With Microsoft Dynamics, there are annual releases and a published road map for the development of the product. Business is changing and if your accounting software isn’t adapting with new releases and updates, then it’s time to change your accounting system.
9. Security Concerns
How secure is your financial data? Do you access your accounting system on-premise or over the Internet?
You need the reassurance that your accounting software is secure and their architecture can afford flexibility in deployment on premises, or in a private or public cloud service. With Microsoft Dynamics, you can re-deploy your solution in the environment that is suited to your security and IT policies.
We know using accounting software can be a bit daunting – especially if you’re not familiar with it. At Advantage we routinely deliver one-to-one and group training, as part of the successful implementation and operation of your business solution. The community forums and knowledge base on the web are a component rather than all the support resources at your disposal. You’re likely to have remote support via email or telephone, but wouldn’t it be nice to actually meet someone that knows who you are, what your business stands for and how you can get the most out of your system?
I’ve Outgrown my Accounting Software – What do I do now?
For advice and information on how Microsoft Dynamics can help your business, contact Advantage Business Systems. We’ll find out more about your current business processes so we can provide a tailored online (or in person) demonstration of the systems capabilities.
You can also download this complimentary whitepaper on the ‘Top Reasons to Purchase a Microsoft Business Solution’.
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