Back when everybody was still using ink and pencils and paper, tracking and updating the general ledger was a challenging process. Then basic accounting software like QuickBooks came along and streamlined accounting for small businesses. While QuickBooks has managed to help you get by, it has its limitations and might now be hurting your business, dragging down profitability and growth. If you aren’t getting the financial insight you need, you might be outgrowing QuickBooks.
This is the second installment in our blog series on outgrowing QuickBooks. In out first blog we looked at how businesses continue to beat their heads against the wall trying to make their solution work with a bunch of QuickBooks workarounds. Now lets look at what you could do with more financial insight.
Get more financial Insight
Without accurate financial data and a steady cash flow your business can’t operate. But even if you are slightly off track and don’t operate with confidence in your data the whole organization can suffer. QuickBooks can help business move from manual calculations to automatic reconciliations, but is that enough? A growing business needs to know their finances backwards and forwards with financial visibility that QuickBooks can’t provide. If you are being forced to manually combine cross-department financial reports or multiple business units’ financial reports for budgeting, forecasting and figuring out cash flow, then you have probably outgrown QuickBooks.
There comes a point when basic accounting software can’t provide the financial insight you need to support a growing business. A business solution from Microsoft provides a complete solution for your business operations without the complexity of traditional enterprise resource planning (ERP) software.
An end-to-end view of your business in a solution will make it easier to track cash flow and expenses, create realistic forecasts, and make the swift, confident decisions that drive business growth. In-depth financial insight, such as real-time access to expected costs, cash flow, and accurate revenue reports, are essential when determining the profitability of the products or services you offer. You simply can’t get 360 degree insight from basic accounting software.
Join us next week when we explore the next growing pain: Weak Audit Trails.