5 Red Flags That QuickBooks Isn’t Working For Your Business

QuickBooks has been an integral part of your business since inception and it’s supported you through several stages of growth. Lately though, you’ve begun to question whether it can continue to meet all your needs. Sound familiar?

Watch for these warning signs that it’s time to retire QuickBooks and move to cloud-based financial software:

1. It’s difficult for you to find out what is happening across the business in real-time.

Does it seem like you can never find the right spreadsheet? When QuickBooks was still a common tool for businesses, employees wasted a lot of time playing, “Hunt for the Spreadsheet”.

Management reports are error-prone and out of date; and it’s impossible to get a comprehensive view across all business units. However, with the changes in the business world, companies need to have better, faster-paced technology to keep up with the demand.

If you are looking for a technology platform that can help you stay on top of the change, cloud financials might be right for you.

Moreover, with paper-based data, the approval processes are slow and disjointed. Managers are relying on guesswork for sales forecasting and budgeting processes when they should rely on facts.

2. Your team is manually entering and reconciling data across the business in real-time.

When sales orders, order entries and invoices are paper-based they are harder to update and manage. With the amount of data coming in everyday, incorrect information due to poor managing is almost inevitable.

3. You are losing sales because the right information can’t be accessed quickly enough.

As the business world evolves, expectations are increasing. Customers expect to have accurate real-time information and a convenient way to make a purchase.

If your business can’t meet that demand, you will lose sales.

Accurate and up-to-date information is also important when you want to launch a marketing campaign, and want to find the best segment to allocate your money.

Time and money are too sacred to waste on an inefficient and ineffective business strategy.

4. Your staff is doing more accounting work outside of QuickBooks than in it.

When employees must use several platforms to do their jobs it becomes too difficult and time-consuming.

Consider when your business starts to grow – the number of new sales channels, product lines, or locations will be impossible to keep up and maintain.

5. You spend too much time worrying instead of assessing your business results.

If you or your team are spending time figuring out how to get the information you need out of multiple systems or spreadsheets, you’re wasting time that could be put to better use actually looking at results and finding ways to improve them.

Newer business systems are built to be flexible and easy to use. In addition to these items, your management team may want more sophisticated dashboard and KPI tools than QuickBooks can provide. This can also hobble effective management of your company.

Want to find out more? Get the free white paper, From QuickBooks to Cloud Financials and discover the additional signs that you may be missing. Download now

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