Not too long ago, general ledgers and other financial data were kept by hand in notebooks or rudimentary spreadsheets on the computer. Basic accounting software soon followed, much to the pleasure of accounting departments. QuickBooks was among the leaders in the accounting software marketplace and is still used by many small businesses today. While QuickBooks is great entry-level accounting software, its inherent limitations may now be hindering your overall business efficiency, profitability and growth.
Growing Pain No. 2: Managing the Books & Cash Flow Isn’t As Easy As It Used to Be
Thankfully, the days of checking off payments with a pen in the general ledger are long forgotten. Switching from manual calculations to QuickBooks’ automatic reconciliations has allowed businesses to save time and reduce common data errors. However, as your business grows, there comes a point when basic accounting software can’t provide the financial insight you need. You know you’ve outgrown QuickBooks when you have to manually combine financial reports across multiple departments or business units to figure out cash flow, budget, forecasting projections and profitability.
Microsoft provides a complete solution for your business operations, including financials, customer relationships, supply chain management, manufacturing, human resources, payroll and more—without the complexity of traditional enterprise resource planning software.
Joe Whitty, controller at Amalfi Semiconductor, testifies to the efficiency of Microsoft solutions:
With reporting in Microsoft Dynamics GP, we consolidate our financial statements in five minutes, a process that used to take us a day. We filter and distill transactional data to help us with reconciliations and export transactional information into an Excel spreadsheet so that executives can manipulate and analyze the data.
Microsoft offers a 360-degree view of your business that makes it easier to track cash flow and expenses, create realistic forecasts and make the swift, confident decisions that drive business growth. In-depth financial insight, such as real-time access to expected costs, cash flow and accurate revenue reports, is essential when evaluating the profitability of your products or services. You simply can’t get that end-to-end insight from basic accounting software.
Go beyond a backward-looking recording system with robust business solutions from Microsoft and gain financial perspective that can take your business to new heights. Watch this short video to learn how informed decision making can help you better serve customers and improve your bottom line. And be sure to join us next time as we explore Growing Pain No. 3: Lack of Financial Controls & Audit Trails Is Putting You at Risk.
Until then, take a test-drive or learn more about our cloud or on-premises solutions for small and midsize businesses—they’re easier to implement and more affordable than you might think.
This blog series addresses some of the common signs your business has outgrown QuickBooks and how Microsoft business solutions can help you keep growing. If you missed the previous post, you can view it here.