Indicators that suggest you have Outgrown QuickBooks
QuickBooks may have been a great option for you at the beginning of your business. It provides basic bookkeeping functions you need when your company is small. However, things have changed. You have more customers, more resources, more automation requirements, and more complexity across your business. Fundamental functions in QuickBooks may not satisfy your needs as your business grows. You now need a more powerful and capable accounting system to handle these data. Following are a few indicators to help you decide if you have outgrown QuickBooks.
- System lock-up and performance degradation
- Team has to compete for usage licenses and take turns to use the system
- Difficulty accessing key information as it is not readily available
- Inventory has grown complex and you need to track a large number of inventory items, multiple units of measure, multiple bin numbers, and manufacturing or warehouse management processes
- Slow report processing and lack of reporting
- High volume of transactions and large amounts of historical data
- Manual processes and the re-creation of reports in Excel
- Business has industry-specific requirements
- Regulation compliance (such as GAAP, IFRS, SOX) and incurring auditing and non-compliance fees
- Exceeded limitations on document numbers, customer, vendor, inventory, and general ledger account field sizes
- Multinational transactions and global commerce requirements
- Web access and customer portal needs
- Multiple company support including consolidated financial statements and inter-company transactions
- Automation requirements for job costing, CRM, industry-specific requirements, and supply chain management
Now that you know that you have outgrown QuickBooks, it is time to move. Sage Intacct or Sage 100 may be the perfect fit for you. Here are some reasons why you need to transform to Sage Intacct or Sage 100:
Sage Intacct helps CFOs access integrated management and financial reports across their business entities – in minutes not days – to grow and drive their businesses. As the only AICPA-preferred financial management solution, Sage Intacct delivers the automation and controls around billing, accounting and reporting that finance needs to reduce errors, stay audit-ready and scale the business.
1. Become audit-ready in accordance with GAAP compliance
Sage Intacct is designed to make it simple for you to be audit-ready with GAAP compliance. Sage Intacct tracks changes at a transaction level and offers through its partnership with Salesforce collaborative compliance to document not only what you did, but why you did it.
2. Consolidate 100s of entities without continually logging in and out
One of the biggest shifts in recent years is the widespread recognition of the need to protect your company through multiple legal entities and structures. The effective utilization of that strategy is fundamental to the protection, acquisition, and sale of assets. Previously solely the territory of large, complex firms, this has become a focus of modestly sized firms. Sage Intacct is able to consolidate across hundreds of entities in seconds. Permissions can be restricted to a particular entity or used to consolidate across all entities in real-time.
3. Slice and dice data in real-time dashboards without Excel exports
Sage Intacct makes it simple to create real-time dashboards across one or more entities without the need to export to Excel. The dashboards can combine both financial and operational data, and with Sage Intacct’s built-in dimensions you can slice and dice your data drilling down to source transactions.
4. Be ASC 606 ready while automating billing and revenue recognition processes
Sage Intacct is designed to automate your financial processes without data re-entry. These processes include automating billing, revenue recognition and quote-to-cash with Salesforce. The upcoming ASC 606 standard eliminates transaction and industry-specific revenue recognition guidance under GAAP and is widely recognized as the biggest accounting change the world has seen in over a decade. This is a key driver causing many organizations to switch to cloud financial systems. Sage Intacct is a leader in making customers ASC 606 ready and is able to show side-by-side ASC 605 and ASC 606 in the same report.
Sage 100 Cloud
1. Simplified Business Financials
Though Sage 100 helps to manage more complex business needs, it is easier to use. It eliminates spreadsheets so you will have a more accurate view of the company’s finances and tools to accelerate the financial close. It also has a user-centered design and allows you to access commonly used websites and activate services easily.
2. Increased Security
Sage 100 makes security settings flexible for users. It creates optimum workflow and cross-functional data sharing and reporting to help drive business decisions. Users can only access the data they are authorized to see.
3. Business Insights Dashboard
Sage 100 enables you to personalize and create role-based dashboards. It provides an easier and quicker access to the details that you need. Therefore, you can make faster decisions, stay on budget, and identify new revenue and profit opportunities.
4. Optimized Tracking Process
Sage 100 allows you to see up-to-the minute information across the business. So you are able to track inventory in a single or multiple locations. Sage 100 can reduce excess inventory and free up working capital while minimizing stock-outs and increasing revenue.
5. Room for the Future
Sage 100 can grow with your business. It allows you to choose the functionality that fits your business needs the most. As your business expands, you can quickly add modules and users.
6. Streamline the Back Office with Integration and Automation
Seamless integration between CRM, ecommerce, and financials allows you to eliminate data entry errors and operate an end-to-end business system, automating and integrating everything from accounts receivable management to payroll, sales orders, and everything in between.