If your business is like a lot of other small businesses, you are hyper-focused on growth. But is your current accounting software up to the task? Sure, it’s super easy to keep on using the same old program — it’s implemented, everyone on your team knows it, and it still works ok (kind of, sort of, in a way…)
Here’s the thing: The most successful businesses recognize the difference between doing what’s easy and doing what’s right. So if you need a little help determining the latter for your growing business, ask yourself these questions:
- How many Excel Wizards do you have on staff?
As proud as you and your team may be of their stellar Excel skills, it can be a red flag. Using lots of spreadsheets is a coping mechanism. It means that your accounting and financial programs are ill-equipped to satisfy the current needs of your business. Don’t let heaps of error-prone spreadsheets take over your business. Your accounting software should be handling all that extra work for you and your team.
- Is there software that doesn’t integrate with your current accounting software?
Having a bunch of different software programs that don’t “talk” to one another often means a lot of extra work for you and your team. Doing a lot of double entry is a big clue that there’s a problem. Those tasks should be automated, which will save time and money to better help your business grow. Having the ability to integrate your software programs will streamline your work processes, allowing your company to work smarter, not harder.
- Have you hit the limits?
Your accounting software needs to be able to grow as your business does. Typically, a canned software program comes with limits on transactions, clients, employees, and storage. If you are hitting the limits on any one of these, you’ve essentially maxed out your potential to grow your business too.
- Can you access your current accounting software remotely?
We’re not talking about arduous VPN access here. We are talking about easy access via the cloud, from anywhere on any smart device. A growing business needs to be as mobile as you and your team are. No matter where you happen to be, unlimited access allows you to get work done any time of the day, any day of the week. If your current system can’t do that easily, you’re hindering your company’s productivity.
- What is the ROI on your current system?
Ok, so take some of that exceptional Excel knowledge you have and create a spreadsheet to determine the ROI of upgrading to an accounting program like Intacct versus keeping the one that you have. Keep in mind that you want to future-proof your business as much as possible, so include those important factors. These could be your intent to open more locations, a significant increase in transactions or the need to handle multiple currencies as your business grows.
At this point, you may be realizing that it’s time to upgrade, but are intimidated by the thought of moving up to something new. Don’t be! You can always give it a dry-run with a 30-day free trial. Besides, Intacct implementation is easier than you think. And if you have questions or concerns, feel free to contact us. We’ve helped tons of other companies upgrade to Intacct, and welcome the opportunity to help you too.