In a business environment, change may not always be welcomed, but it is expected. Adapting to that change is necessary to keep your organization running efficiently and smoothly. If you find your organization still using QuickBooks for your financials, it is time to ask whether it's still the best fit for navigating growth in your industry. Take a good look at the current state of your business and ask yourself if any of the 4 reasons QuickBooks is holding you back are applicable.
1. Out-of-date Software
Consistently updating on-premise software can be cumbersome but not updating your organization's software within a reasonable time period can cause significant issues. Some companies risk running a previous version of software due to lack of certified personnel or because they find the processes of an older version more comfortable and don’t have the time or resources to learn the more updated versions. Running on an earlier version will deny your organization the opportunity for more productivity and efficiency, but more importantly, security will be put on the line and put your entire organization at risk.
2. Lack of Data Integration
QuickBooks has a limited set of integrations, and many of the integrations that do exist are not exactly seamless. Choosing to use applications that don't integrate well with QuickBooks may end with you consolidating large amounts of data from one solution to another manually. Running your financials as such sets your business up for system reliability and accuracy risks.
These are all unnecessary risks your organization can avoid. A growing company does not need their data spread across disparate systems - it needs data transparency and ease of access - something QuickBooks software cannot provide.
3. Tracking Your Business
Without the knowledge gained by monitoring a business's efforts, you could potentially spend money on strategies that do not work. In doing so, you will come to realize that the data you've always worked with in the past may not be the data you need now. On-premise systems cannot coordinate order taking, manufacturing, inventory, entity performance metrics, or distribution. QuickBooks core is a complex and error-prone system with a series of separate policies.
4. Compliance and Quality
The number one goal of any modern business is to meet modern customer demands. As product and subscription models become increasingly complex, more complicated customer tracking and revenue recognition are required that must meet ASC 606 and IFRS 15 compliance requirements.
QuickBooks, with its outdated on-premise versions, can't meet those demands without headaches, costly software retrofits, and less than efficient workarounds.
The limited functionality of QuickBooks requires the use of additional business tools; this all leads to wasted time, increased errors, frustration, and a higher risk of fraudulence.
More robust financial solutions, on the other hand, provide a broader range of functionality and more automation, eliminating the need to introduce additional applications into the daily operations of your business. Don't work harder than you need to and over-complicate your business processes - let your software solution do the heavy lifting for you.
If even one of the 4 reasons QuickBooks is holding you back applies to you, it’s time to make your software solutions uncomplicated and modernize your business.
Ready to stop being held back from QuickBooks? Let Oasis help you modernize your business with a software that does the heavy lifting for you: Let’s Talk
About Oasis Solutions
With more than 350 years of combined industry experience, Oasis Solutions is your local Sage, NetSuite, and Workday Adaptive Planning partner that offers expertise in accounting, human resource management, and custom software development. We have your long-term plan and business strategy in mind from the get-go.
We don’t just sell software. We are passionate about understanding your company’s processes and committed to your success and reputation long after the go-live date. Providing you with skilled consultants and developers for support, the ability to ask for help, discuss best practices, buying options, pricing, products, and more.
As industry experts, we possess a profound understanding of the software and the knowledge and skills to best tailor your implementations to your individual business needs.
Oasis Solutions has offices in Louisville and Lexington, KY, TN, and NC. Let us help you get the most ROI out of your software investment and be your local partner.