For one reason or another, many business leaders are hesitant to ditch their aging software solutions. To be fair, a variety of factors are at play, including cost concerns and worries that a software migration will be hard on employees, but one particularly common factor that causes business decision-makers to cling to antiquated tech is a misconception that their software is still “good enough.”
It is understandable how some decision-makers come to that sort of conclusion, given that the technology did, indeed, get their business this far. Nevertheless, if you find yourself contending with a similar dilemma, it is important that you familiarize yourself with some of the clear signs that your basic software is preventing your business from reaching its true potential.
While there are many potential indicators that your old-school tech is holding you back, here are three of the most concerning:
1. Your Accounting Software Is Leaving You in the Dark
When your business was in its earliest stages, you likely implemented a rudimentary software solution like QuickBooks to help get things done. While an entry-level solution can meet the needs of small businesses, your business will eventually outgrow them.
As a hard-working entrepreneur, you are certainly not one to shy away from a little extra labor, but the shortcomings of basic accounting software go far beyond inefficiency. Its biggest downfall is that it cannot provide real-time insights into your financial health, which can prove to be a serious problem if you want to expand your operations, pursue growth opportunities, or invest in new inventory.
Replacing your basic financial software with a modern enterprise resource planning (ERP) software solution can help you overcome those shortcomings and tap into real-time financial insights. Additionally, ERP software enables you to streamline accounts payable and accounts receivable processes, protect cash flow, and closely monitor the financial health of your business.
2. Your Core Business Systems Are Cobbled Together
Ask yourself whether you’ve ever taken stock of the number of different applications you use to manage your business. If you are not sure of the exact amount, just tally up all of the various licensing fees that you pay each month. Chances are that you will be unpleasantly surprised by the number of apps you need and how much you spend on them.
Relying on a disjointed array of systems for manufacturing, inventory management, sales, marketing, customer relationship management, and accounting is not just costly but woefully inefficient as well. To gather information or generate business performance reports, your team has to log into multiple systems and manually combine the data they collect.
Modern ERP software, however, creates a single source of truth for your business data, and leading solutions like Acumatica include a module-based architecture that allows you to add other tools and applications as the needs of your business change. The end result is greater agility, streamlined information sharing, and improved visibility.
3. Data Is Everywhere (but Nowhere to Be Found)
When your systems are cobbled together, and you rely on manual processes, your business data is spread everywhere and therefore — ironically enough — also incredibly hard to find. If you have ever wasted a morning looking for a specific file or hunting down a spreadsheet, then you’re already aware of the dangers of unruly data.
If you want to grow your business and adequately serve your customers, you need to have readily-accessible data, but you can’t achieve that level of data accessibility with basic or legacy software.
Acumatica ERP software consolidates your data into one secure, centralized location, complete with a searchable interface that allows you to locate important business information in seconds instead of hours. By consolidating your data with Acumatica ERP, you can support advanced analytics processes and gain real-time insights into the performance of your business.
Move On From Legacy Tech With ASC
If you’re ready to leave your legacy tech behind and embrace a solution that can support the ever-evolving needs of your business, Advanced Solutions & Consulting (ASC) Co. is here to help.
As a leading Acumatica ERP software implementation partner, ASC can plan and execute your migration. We also provide extensive post-deployment support to ensure you achieve a strong return on investment from your new software. Contact us today to schedule a consultation, and let’s chat about the needs of your growing business.
Additional Resources
3 Signs it is Time To Upgrade Your Company’s Accounting Software