What to do When Quickbooks No Longer Meets All of Your Needs
Virtually all business owners starting their financial management journey will begin using Quickbooks. It is the near-universal software all business leaders use when starting. However, it is also likely that there will come a time in a company’s growth journey when it will outgrow the utility that Quickbooks was able to provide in the beginning.
Companies with a rapid growth trajectory risk losing the value that Quickbooks once provided. This is because they spread their wings and quickly picked up new clients. If the company doesn’t have a budgetary software product that also meets those needs, it may be stalled out at a particular intermediate stage of growth.
Signs That Your Business Has Outgrown Quickbooks
What kind of warning signs should you be on the lookout for when it comes to measuring the effectiveness of Quickbooks? There are a few indicators that you can and should keep an eye out for:
- Excessive Manual Entry of Data – It is not the worst thing in the world if you find yourself having to manually enter certain pieces of data into Quickbooks or some other data software as your company is first launching. However, it can easily become a burden when you manually manually enter data stacks. When that is the case, things get unruly very quickly, and you don’t want to see your business fall behind and struggle because you didn’t take the time to upgrade your software.
- Security Issues – The more data that goes into Quickbooks, the more potentially valuable it becomes to hackers. Leaving too much of your company’s valuable data out in the open for anyone to swipe is a dangerous precedent to have. You may find yourself in a situation where the security issues with Quickbooks are too much for you. If that is the case, you need to consider upgrading your software to something more protected.
- Lacks Real Time Data – No one can truly get ahead unless they have all the information they require suitable when needed. This means that real-time data is paramount to the growth of any business. You will fall behind the competition if you don’t possess this real-time data. It is as simple as that. Quickbooks cannot necessarily provide you with the real-time data that you require to steer the ship of your growing enterprise.
These are all warning signs that something may be wrong with your continued use of Quickbooks, and they indicate that you ought to consider making the switch to something more powerful and valuable.
A Transition to Microsoft Dynamics
It is often the case that companies struggling with Quickbooks will choose to switch to Microsoft Dynamics as their software. The reasons for the shift to this particular platform are as myriad as the companies who make the change. That being said, many choose to go with Microsoft Dynamics because it is a cloud-based software program with more powerful tools than Quickbooks and more useful reporting features than what Quickbooks offers.
Top-Line Functionality Across Various Departments
Did you know it is possible to use your budgetary software across many different departments for multiple purposes? That’s right. You may discover that you can make much more progress towards your long-term goals for the company if you apply the same budgetary software across every department. Human resources, customer service, payroll, and other departments can use the data entered into the program to gain insights about their department and make more informed decisions about the next steps they need to take.
Better Reporting and Analytics
Speaking of data, it is also possible that one may receive better data and analytics reporting when they move to Microsoft Dynamics and away from Quickbooks. The reason is that there are more robust data storage and reporting tools within Microsoft Dynamics than almost any other business software product on the market. Also, that data can be reported in real-time to make it even more valuable to its users.
Auditing and Security Features
Another thing worth considering is how you will audit the figures you enter into your business software. It may be necessary to double-check behind yourself to be sure you have accurate numbers and figures entered into your system. After all, it could be very deceptive to try to work off of numbers that don’t provide you with a true and accurate picture of what is happening within your business. You will always want the ability to audit everything that has been put into the system thoroughly.
On top of auditing, it is nice to have extra security features that can keep your most sensitive and valuable data fully protected from those who might want to steal it from you. An alert system that allows you to know when a security threat has been identified immediately is a big deal. Microsoft Dynamics also applies security measures that help keep your information safe and locked down from outside threats. Enjoy the peace of mind that comes with knowing your information is protected behind the wall of protection that Microsoft Dynamics offers.
Make the Switch Before it is Too Late.
It would be best if you switched from Quickbooks to Microsoft Dynamics before it is too late. Many businesses get so caught up in growing their company that they don’t think about the factors that might make all of the difference. One of those factors is the type of software they use to store their data. It is best to switch from the commonly used Quickbooks to the higher quality Microsoft Dynamics. If you do so before you begin to hit some of the limits to growth that are inherent with Quickbooks, then that is even better.
For more information on how to make the switch, don’t hesitate to get in touch with us today!
