Over 80% of the small businesses that partner with Vision33 start out using QuickBooks to manage their accounting - and with good reason. Intuit’s accounting software for small businesses does a great job of keeping cash flowing at the early stage of business growth. Keep a close eye on your business’ most valuable asset today, and you’ll be able to invest in your business’ growth tomorrow.
Answering the question of whether QuickBooks is still the best accounting software for your small business in 2019 requires identifying where you see your business heading. Does the feature set of your small business accounting software – great as it is – provide you with the performance, functionality, and scalability you’ll need to support your plans for growth and expansion in the next five years?
What to Do When Your Business’ Growth Outpaces Your Current Accounting System
If your small business isn’t so small anymore, that’s a good thing - but it’s important to recognize that an accounting system that can no longer meet your needs can have a significant impact on your business. Maybe you’ve started to notice that you’re experiencing growing pains in the form of system limitations. These signs are often a symptom of reaching a stage of complexity too great for QuickBooks to handle.
Do any of the following statements sound familiar to you?
- Manual data entry from one system into the other is increasing the occurrence of human errors in our data.
- Lack of integration between QuickBooks and other applications is creating an inefficient workflow.
- It’s difficult to maintain visibility into our growing inventory.
- Employee productivity has decreased due to poor system performance.
These are symptoms that you are outgrowing QuickBooks. Many businesses, however, delay the transition to a new enterprise resource planning (ERP) solution and instead explore stop-gap solutions such as choosing the next tier of QuickBooks. These businesses spend considerable time and money trying to grant access to more users, add basic inventory management, and patch-in additional software to support a specific feature not available within QuickBooks.
While the status quo in the short term may seem like the better option, it will inevitably cost you your long-term success. Keep in mind that there are other costs associated with maintaining the status quo - your customers ultimately pay the price with wrong orders, late shipments and dissatisfaction with their overall experience. We have seen so many companies with huge potential fail or return to where they started because they delayed the transition to a new ERP solution for too long.
We have seen so many companies with huge potential fail or return to where they started because they delayed the transition to a new ERP solution for too long.
Make This a Year to Embrace Change for the Betterment of Your Business
If you find that your business is being held back by redundant data entry, limited access to important information or a lack of inventory control, consider that it’s not just your business that’s suffering; your customers are suffering too.
Download the Vision33 guide ‘Is Your Accounting Software Holding Back Your Business?’. This comprehensive guide will show you the differences between basic accounting software and ERP software. Our guide will help you make an informed decision about whether or not now is the time to invest in ERP.