3 Signs It Is Time to Upgrade Your Company's Accounting Software

You know your company’s accounting software is outdated when…

No, seriously. You know it’s time for an upgrade when your accounting software’s limitations affect your daily business operations. Maybe you’re having trouble reconciling accounts or tracking inventory. Perhaps you can’t generate the reports you need on time. Or maybe you’re just feeling bogged down by the extra work that comes with using old-school software.

If these issues sound familiar, it might be time to consider switching to the accounting capabilities available in a full-featured cloud ERP solution like Acumatica.

Sign #1 – You’re struggling to keep up with growth

Growth is essential, but many companies rely on basic accounting software that often cannot keep up with growing business demands. This was the case for Bluefin Collectibles, a business that distributes Japanese model kits, collectibles, and toys. They were experiencing unprecedented growth, but the owners found it difficult to manage all the new financial data with their QuickBooks Enterprise software. Some shortcomings of QuickBooks Enterprise included an inability to track inventory, support complex cash management needs, and allow access to more than a few users.

Bluefin soon realized they needed a business management solution that could scale with their needs. After evaluating several cloud ERP software vendors, they chose Acumatica. The company has said that the switch “completely changed our business,” and they’re impressed with Acumatica’s growth potential.

Sign #2 – Your business data is segregated

If your business data is spread out across different software platforms and third-party applications, it’s likely that you’re experiencing inefficiencies in your overall operations. Not only is it difficult to get a holistic view of your business when data is siloed, but it can also lead to errors and duplications.

One company that experienced these inefficiencies was Roberts Glass & Service. For years, the business, which creates, manufactures, and installs interior glazing and glass curtain wall systems, ran on Sage 50 and stored its data locally on desktop computers.

“Data was very siloed,” says co-owner Jeff Hamilton. “We also had paper spreadsheets scattered throughout the office. We knew operating on Excel and siloes wasn’t going to allow us to grow or be more profitable or be more efficient and get information out to the field.”

After comparing Sage and Salesforce, Jeff and Matt Dodson recognized it was time to upgrade their accounting software to Acumatica. Jeff says, “We’ve torn down the silos we had with the client-server solution, so now we have access to one view of the data. We’re now able to see where we are cost-wise with our existing construction projects; we’re able to look at the profitability of each project, look at the customer base and understand where we are most successful.”

Thanks to Acumatica, Roberts Glass & Service streamlined their data and operations, giving them a better understanding of every aspect of their business, from financials and inventory to CRM and project management.

Sign # 3 – Your software only manages basic accounting

It might be time for an upgrade if your accounting software only manages the basics, like invoicing and payments. Manufacturers, distributing, and construction companies must deal with complex supply chain, inventory, and warehouse logistics and therefore require more robust accounting software. A full-featured ERP solution, for example, will allow you to manage your finances, inventory, projects, and HR all in one system.

Security Solutions NW (SSNW) is one example of a firm that has had difficulty with integration and company-wide visibility. SSNW—a business providing products and services to protect property, people, and assets—heavily relied on an older accounting software solution. As SSNW expanded, the software became inadequate. It had no CRM capabilities, financial controls, contract and recurring revenue monitoring, or the capacity to control inventory, automate time tracking, or change pricing in multiple contracts. It couldn’t keep up with the company’s growth.

“We searched for a provider that was built for the cloud and selected Acumatica TRUE Cloud ERP,” says Jamie Vos, Owner/General Manager. “Now we can be seamless by using CRM and the Mobile App, all departments in Security Solutions — locksmith, retail, service, sales, inspections, testing — have instant access to information, helping to speed business and lets us focus on what we do best, which is to design, implement, execute security solution that provide peace of mind.”

Bottom Line

If you notice these three signs in your business, it might be time to upgrade your accounting software. Technology is constantly changing, so it’s crucial to stay ahead of the curve. A full-featured ERP solution will provide you with everything you need to manage your finances, inventory, projects, and HR in one system.

And in case you didn’t know, a Forrester study revealed that companies using cloud ERP software will experience a 15% boost in sales volume, a 15% boost in gross margins, and a 45% boost in employee productivity.