October 10, 2023

5 Surefire Signs Your Accounting System Is Failing You

Sage Intacct

Blog > 5 Surefire Signs Your Accounting System Is Failing You

Sage Intacct Accounting

Business growth is exciting, but with the rewards come challenges. Suddenly, there aren’t enough hours in a day to get things done.

Do you know what’s eating up your time? It’s probably your small business accounting application.

The accounting system that got your business started has run its course. Growing companies with complex operational and financial needs can’t survive with outdated data, error-prone spreadsheets, and time-consuming manual processes.

As a finance professional in a fast-paced environment, you need real-time information and complete visibility into your business’s financial performance to make bold decisions about the future—and outdated, inadequate technology can’t help.

If your current accounting software is hindering your progress and stealing your valuable time, consider a powerful cloud financial management solution like Sage Intacct.

Here are the five surefire signs your accounting software is failing you.

You're on an Old Accounting Software Release

Your finance team is so busy they may not realize how outdated your software infrastructure has become. An old and possibly unsupported software platform is risky because it can lead to significant downtime and security breaches. It’s also expensive to maintain a legacy solution—plus, that maintenance is just putting a band-aid on a bigger problem.

Disconnected Systems and Processes Are Gumming Up the Works

Finance works best when data flows seamlessly between departments and systems. Small business accounting applications can’t easily integrate with your other critical systems, so you’re constantly entering and re-entering information in multiple systems—something you don’t have time for.

Business Expansion Is Making You Anxious

As you add business units, office locations, or products and services, the burden on finance can be crushing. Seemingly overnight, you’re dealing with multiple currencies, tax jurisdictions, regulations, and pricing structures. And small business accounting applications can’t handle complicated financial functions like multi-entity consolidations.

New Business Requirements and Regulatory Compliance Are Difficult

Many businesses are experimenting with new revenue models and alternative business structures, like the subscription business model, where organizations focus on long-term relationships rather than transactions. This requires more complex billing, revenue recognition, forecasting, metrics, and regulatory requirements—placing even more demand on finance. Many of these options didn’t even exist when your legacy accounting system was developed, and retrofits are tedious or impossible.

A Lack of Visibility Is Affecting Your Decision-Making

To succeed, you need a clear view of everything that’s happening in your business—financials, available capacity, inventory levels, and more. Small business accounting applications don’t provide real-time information so you can course-correct and make confident decisions on the fly. Instead, you’re grappling with spreadsheets, and the information you manage to piece together is already outdated.

There's a Better Way

Resisting change and continuing to use your old accounting software is costing you more time and money than you realize. Today’s dynamic, growing businesses are moving to cloud financials, and it’s never been easier or more affordable.

Sage Intacct, a modern, cloud-native solution built for financial professionals by financial professionals:

Learn More With Our Sage Intacct Info Kit

Vision33 is an award-winning Sage Intacct partner and the leading integration and automation solutions provider for Sage customers. Our certified consultants work with growing businesses that have outgrown solutions like QuickBooks, Peachtree, Sage 50, Sage 300, and Xero.

With hundreds of successful Sage Intacct implementations, Vision33 helps businesses—including non-profit organizations, SaaS companies, and financial services firms—in many industries transform accounting frustrations into mission success and strategic growth.

Want to take a deep dive into Sage Intacct? Access our free info kit containing a product overview, customer success stories, demo videos, and FAQs.

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