Businesses rely on accurate financial management and many describe finances as the very lifeblood of the company. Many decisions are based on current financial figures, which is why reliable accounting software is such a necessity. However, over time basic accounting software no longer fits the bill, so to speak, and an enterprise resource planning (ERP) solution makes more sense.
Entry-level accounting software, such as QuickBooks, can work successfully for a time. These solutions offer basic financial management activities such as monitoring income and expenses, populating bank statements, and paying bills. You may be able to create invoices and print financial reports; however, there isn’t much more you can get out of entry-level accounting software. A secondary problem often presents itself some time later – basic software can only handle a limited volume of data and a limited number of users. With growth, your business generates more and more data that can quickly bog down the software, making it difficult to process data and reports. Additional delays can occur as employees have to wait to enter or retrieve information needed to make important business decisions. Before basic accounting software begins to stifle growth, make the change to a stronger business management solution.
You can manage all of your business operations with a modern ERP solution including financial transactions, supply chain and inventory, manufacturing and distribution operations, human resources and payroll activities, and other core business processes. You can enter, access, and analyze data with greater efficiency when it’s located within a single, centralized solution. In addition, data is seamlessly shared between processes. For example, you can create a proposal or contract for a customer and turn that data into a purchase order, and later, an invoice. This and other time-saving automations reduces the time spent handling data and improves the productivity of your team. Powerful ERP solutions also offer business intelligence and reporting features that make it easier to identify trends, uncover ways to control spending or reduce waste, and further improve business processes.
As your business grows, you need more than basic accounting software. Choose a solution that can provide the insight you need to make data-driven decisions, improve productivity and profitability, and support superior customer service.
Contact AppSolute for more information about making the switch from entry-level accounting software to modern ERP.
By AppSolute Consulting Group, LLC, Microsoft, Accumatica and Sage Partner out of New York