8 Warning Signs That QuickBooks Is Harming Your Business
You're operating your business with spreadsheets and QuickBooks, or an aging ERP implemented years ago.
But these options simply do not provide what a growing company needs to thrive.
Your business has evolved beyond them. You seriously impact productivity, efficiency and revenue with such limiting systems.
Here are 8 signs it's time to explore transitioning to Cloud ERP.
You Spend Too Much Time Managing Spreadsheets With QuickBooks or older systems, employees can spend hours each week on manual processes that range from creating invoices to filling out complicated spreadsheets. Many QuickBooks users must create workarounds to make the system function for their organizations
Manual Processes Are Creating Errors Not only is manual data entry time-consuming, but it also leads to significantly more human error and frequently results in end-of-month crises. A common cause of delay with QuickBooks is revenue recognition
Inaccurate Data Is Preventing Informed Decision-Making With error-prone data and disjointed systems, it is nearly impossible to gain comprehensive and valuable business insights. QuickBooks reporting is critically limited: It takes even more workarounds to try to make existing reports work for your goals or to create new ones. On the other hand, you can easily report on any data you enter into NetSuite
Audits Pose Concerns Without sufficient internal controls around approval workflows, separate roles or audit controls, QuickBooks has audibility concerns. This prevents you from taking the next step in building your business: If you need to get a loan from the bank, are pursuing funding from investors or are looking at going public, for example, you need a rock-solid set of numbers
Customizations Are Getting Complicated QuickBooks can work for a growing business, for a time. All it takes is an army of consultants and/or a tangle of complex workarounds, which often come with a hefty price tag
It’s Too Hard To Find Out What’s Happening Across Your Organization In Real Time Keeping one set of data in QuickBooks and storing other critical information elsewhere makes it nearly impossible to get a real-time view of operations. Many product companies that use QuickBooks for financials manage inventory in spreadsheets or add-on systems like Fishbowl. Without integration between inventory and financial data, they lack accurate inventory counts. Having inventory and financials on the same system, however, gives product companies the real-time view they need to accurately track and value inventory—and increase sales
Billing Processes Affect Your Forecasts And Cash Flow Being able to accurately forecast future payments and cash flow is especially crucial today. For services companies, subscription billing and project accounting are manual processes in QuickBooks
Reports Take Hours (Or Days) To Pull While working in QuickBooks, beverage brand Super Coffee built its own order entry system. That spreadsheet acted as a dashboard which the sales team used daily in order to understand its goals. However, manually entering each order into the spreadsheet “was taking a lot of our team’s time,” said Co-founder Jordan DeCicco. Now, while working in NetSuite Cloud ERP, the entire company gets a sales report at the end of each day, which breaks down sales by SKU, region and customer. That report, which arrives in their inboxes automatically, “would’ve taken hours, days or maybe even weeks to produce before,” per DeCicco. This newfound ability to work smarter means team sizes have stayed consistent, he added. The supply chain and finance teams haven’t changed since Super Coffee’s ERP implementation, even though the company has grown nearly 500%
NetSuite is the world's #1 Cloud ERP for a reason: it's a single, integrated suite of applications that runs your entire business—and lowers operating costs. Affordably.
"We were running with blinders on. If we had stayed the same any longer, we would have become obsolete. After implementing NetSuite, it made difficult decisions really easy for us. NetSuite was the change agent that made our transformation possible." - Sean Cwynar, President, Action Health
"The company could have handled the growth without an ERP system, but we would have been forced to hire a lot more people." -Ian Larkin, Controller, CentralReach
NetSuite ERP can affordably transform your enterprise by:
Automating Financial Processes - Improving financial operations, efficiency and productivity
Gaining Inventory Visibility - Monitoring inventory levels, minimizing carrying costs & delivering orders on time
Supplying Chain Optimization - Controlling the flow of goods across the value chain, from suppliers to customer
Order Management Optimization - Error-proofing your order management and procurement
Increasing Warehouse Efficiency - Optimizing the put-away process and reduce picking errors
With a single, integrated suite of applications for managing accounting, order processing, inventory management, production, supply chain and warehouse operations, NetSuite ERP gives companies, both small & large, clear visibility into their data and tighter control over their businesses.
CHOOSING NETSUITE IS ONLY HALF THE BATTLE.
Since 1995, Meyer has been managing the entire ERP process for organizations, including:
NetSuite makes the software, Meyer does everything else to streamline processes, increase revenue, and intelligently grow your business.
Speak with Meyer. We've been implementing and supporting ERP for 27 years.
Is NetSuite a fit for your company?
Visit the Meyer Website or Call 888.MEYER.50