Quickbooks is well known for providing a low-cost accounting solution that is perfect for most small businesses. But what happens when your company grows? Will Quickbooks have the features you need for you to continue to grow? You may find QuickBooks is not designed to handle the complexities of your growth, and you end up using spreadsheets more and more for your financial processes. Here are a few questions to ask yourself to see if you would benefit from a more robust financial solution.
Are you Spending Valuable Time and Resources Managing Spreadsheets?
As your financial complexity grows, so will the number of spreadsheets you end up creating and then trying to compile to get a realistic picture of your company’s financial health. Time is money, and if you or your staff are spending a lot of time working in spreadsheets to keep your finances straight, you are not only wasting time but money and efficiency as well. Making an investment in a financial solution that could eliminate the use of spreadsheets would save you money by reducing the time spent on spreadsheets and increasing efficiency.
Are you Struggling to Manage Multiple Companies?
Keeping up with finances across multiple business units can be challenging at best, and without the proper financial solution, it can add hours of manual work to an already busy finance team. Not to mention having to compile information for multiple systems and trying to get all of the numbers to match up. You typically end up creating instances for each entity and then manually consolidating the information with the hopes of getting a true picture of your business’s overall finances.
Do you Have the Financial Reports you Need to Make Sound Business Decisions?
For any business owner having accurate reports when you need them is a must. Making business decisions can sometimes be tough, and if you do not have access to the most up to date and, more importantly, accurate financial data, your decision could fatal for your business. If you are having to access multiple systems to get your financial data, chances are it is not entirely up to date or accurate, and you should look at a solution more suited to your needs.
Do you Have Remote Workers That Need Access Anytime/Anywhere?
In this day and age, remote working is almost a standard. Being able to provide access to your team where ever and whenever they need it goes hand in hand with working remote. Allowing access to your company’s financial information remotely can be frightening if you have not invested in a solution that was designed with security in mind.
Are Manual and Paper Processes Eating Away at Your Bottom Line?
Manual process are just that – manual, but they also eat up precious time your team could be spending on helping to grow your company. If you have found yourself or your team spends a good part of the day on repeated daily tasks and other paper processes, it is time to look for an alternative that will eliminate the paper and manual process that are weighing you down.
While a new financial solution does require an investment, the time saved and increased efficiency will have a more significant impact on your bottom line, then the initial investment.
Interested in learning more? Request your free consultation today!