Guide-How to Evaluate QuickBooks Replacement.

Whether it’s how to better compete in your market, what new tools and services can help support your organization, or which local utility providers will offer the best deal, every new challenge presents an opportunity to adapt your business model and better position yourself for the future. But that doesn’t mean learning is easy. Quite the opposite in fact—change and adaptation are uncomfortable necessities, but it’s that growth that helps accommodate who you hope to be in the future. At some point, typically when you cannot scale your business and your current legacy accounting software is causing bottlenecks in your company, organizations seek technology solutions to meet these challenges.  In this post, we will discuss exactly this topic plus offer a Guide-How to Evaluable a QuickBooks Replacement.

Business Growth and Challenges:

As your business grows, you take on responsibilities and expectations that your previous operations simply weren’t designed to handle. At some point, the patterns and resources you’ve always relied on just don’t quite work like they used to. Organizations that experience this usually have options including:

Ride it Out: Some organizations hope to ride out those existing challenges with their current solution. If you identify with this, you may feel aimless, frustrated, or overwhelmed by this swell of new growth and hope that things will stabilize and resolve themselves.

Hire More People: While this approach is great for easing the initial strain of growth, hiring new people means providing for those individuals as well—benefits, salaries, even workspace—and may not be an efficient or cost-effective solution.

Buy More Tools: Here you may put together a mix-and-match set of services to keep your operation running. While each individual piece may work well independently, these solutions may struggle to work well together and require additional resources to manage, from backups, storage, data aggregation, management, and maintenance to training people to use those tools.

Rethink your Processes: Of these previous options, rethinking your processes requires the most self-awareness. This means taking a step back and honestly assessing how your tools and operations work together. Do they help you grow or are they struggling to keep up? By replacing QuickBooks with cloud-based business management tools, your organization can adopt a comprehensive solution that adapts to you.

Identify What Your Business Needs:

With expansive business growth, QuickBooks can start to hamper your productivity—those familiar tools ultimately limit your ability to realize your potential. Ignoring change is a natural reaction. Change is uncomfortable and foreign. Those oddities make us nervous, so we step back, pretend like nothing is happening, and react as needed. But, when we shift mindsets from reactive to proactive, we can capitalize on those changes and address growing needs in a way that creates a competitive advantage and builds toward future success.

When a company beings the journey of new Accounting/ERP Software Selection, there are typically key questions to review.  For example, what do you expect out of your next accounting software? By identifying what you want and, perhaps more importantly, what you need, you can better pinpoint a solution that meets your long-term goals. What do you need from your ideal accounting solution? As you are evaluating accounting software and company requirements think about the following areas if they are a must-have, nice to have, or perhaps neither.

Are the following business areas important to you and part of your discovery for new Accounting/ERP Software Solutions?

  • Connect multiple systems.
  • Simplify my operations.
  • Improve my data security and controls.
  • Make better use of my data.
  • Provide smarter financial and auditing tools.
  • Keep up with higher transaction volumes.
  • Integrate with other technology.
  • Work from different devices and locations.
  • Adapt to my business needs and industry standards.
  • Meet changing customer demands.

This is not an exhaustive list; As you explore deeper into expectations for your business, you may want also to consider the following questions:

  • Do you want to open an online store?
  • Perhaps you’re considering going public, acquiring a competitor, or just want to simplify your IT responsibilities.
  • What do you hope to accomplish as an organization over the next five years?
  • Do you want to leverage modern cloud business technology?
  • Is having a business solution that can scale and grow as your company expands important to you?

After that, consider how your ideal accounting solution would help you achieve those ambitions. For example, if you’re aiming to land a new round of funding in the next few years, then your ideal solution might consolidate your financial data, and use that information to create accessible reports that show your previous success and future growth trends.

Discovery Technology Solutions to Reach Business Objectives:

In the era of Digital Transformation, technology, including modern business technology systems are advancing at a rapid pace. Companies are leveraging the power of cloud business applications to help meet customer demands, streamline their operations, and scale to support future growth.  As your company explores these solutions consider some of the primary drivers for the business move to the cloud including:

Keep your Data Safe: With cloud services, you get more than just storage; you get security. Not only do cloud solutions feature built-in redundancy to make sure your data’s backups have backups, but you also leverage your cloud partner’s security investment—millions of dollars that someone else has paid to ensure your data stays safe.

Connect your people, processes, and data: Get ahead of the competition with united, adaptable, and stable solutions that work together to connect your teams and streamline your operations.

Gain a complete picture of your business: By integrating your accounting data into a cloud solution, you can get real-time analytics and reporting to create an accurate and up-to-date picture of your organization’s habits and trends

Improve cash flow: Cloud services typically operate on a monthly, per-user license, so costs are predictable, and limited to your needs. Pay for what you need and adapt as your business grows.

Eliminate your Hardware: Migrating to the cloud presents the chance to unload on-site servers, free up hard drive space, and eliminate the need to monitor and maintain those tools. That means fewer IT expenses, less administrative oversight, and more space to grow.

Reduce IT Concerns: By removing your server responsibilities, your IT team can focus on more value-added tasks like onboarding new employees and expanding your services.

Simply Mobility: Cloud access controls mean your team can securely work from home or in the field with the full capabilities of an on-site employee. With the cloud, you can manage quotes, orders, and projects from nearly anywhere

Get Started Fast: Because cloud solutions are managed by your partner, there’s no hardware to set up or software to install—you can get started on day one.

Save Time and Money: Merge bookkeeping, inventory, sales management, and other tasks into a single solution that makes previously time-intensive responsibilities more efficient.

Scalability: For a growing business, the flexibility to pay for and use only what you need provides peace of mind that you’ll always have the right service at the right time.

Mobility: Select a Modern Accounting/ERP solution that employees can securely access from their desktop, tablet, or business app made for today’s on-the-go workforce.

Next Steps:

Learn about Modern Cloud Accounting Software such as Microsoft Dynamics 365 Business Central.

Download the Free Guide called Beyond the Basics-How to Evaluate a QuickBooks Replacement.

Posted by iCepts Technology Group, Inc. a Microsoft Dynamics 365 Business Central Partner in Pennsylvania. 

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