When we are meeting with prospective clients, we are often asked: “When is the right time to move from QuickBooks to cloud financials?” In the past few years, we have moved several growing companies from QuickBooks to NetSuite. QuickBooks is an excellent and cost-effective solution when companies are getting started. However, many of our clients have found that it may not be the right choice for the long term. Once companies start experiencing accelerated growth, the limitations of QuickBooks become more apparent. I have put together a list of issues that our clients were facing before making the switch to a cloud ERP solution.
At Kraft, we have been selling, implementing, and supporting business software solutions for over 20 years. We have experience with multiple products and pride ourselves on partnering with software publishers with the best solutions on the market for our clients. We have found that NetSuite is the perfect next move when prospects are starting to outgrow QuickBooks.
Top four signs you’re outgrowing QuickBooks
QuickBooks is an accounting only solution (and you need more)
In order to address specific operational needs, business owners end up purchasing separate applications (such as CRM) or implementing manual processes in spreadsheets to keep the business running. We found that our clients were wasting valuable time re-keying data (many times double entry in different systems), which can sometimes lead to mistakes or delays in reporting. The manual processes work fine when organizations have a small customer base and few transactions, but when the volumes grow, companies are then faced with a decision between hiring more headcount to maintain the manual processes or investing in a technology solution that can grow and scale with them. NetSuite is a full ERP cloud solution with many fully integrated modules – including CRM, complex billing, inventory, distribution, e-commerce, and more on a single data source. No more re-keying or compiling data from system to system.
Too many “work arounds” must be created every time there is a small change in the business
QuickBooks was designed to automate just a few core accounting functions. As our clients’ businesses grew, they were finding that the limited functionality wasn’t scaling with their business. Some of the features needed by our clients such as revenue recognition, employee expense reimbursements, and consolidated reporting were requiring manual processes or add-on tools. The shortage of advanced features was slowing down business and leading to the need to manage more spreadsheets and add-on tools.
Inability to view real-time data, on demand
Since many of our clients’ operations were run using disparate spreadsheets and applications, it was difficult to view real-time data when needed. Our clients were spending too much time collecting, distributing, and analyzing data in spreadsheets – which quickly became outdated. Account managers didn’t have visibility on project or billing statuses and executives had to wait until month end to view financials and performance KPIs. With NetSuite, all data is real-time and all aspects of the business are connected and available (based on role permissions) on-demand to end users. Business owners are able to monitor metrics from their KPI dashboards all day – and notifications can also be set up based on user-defined parameters. With the timely data access in NetSuite, our clients are now able to react quickly to market events, or internal alerts.
Too many unnecessary difficulties managing updates, back-ups, and database performance
We had a client who had outgrown QuickBooks to such an extreme point that the QuickBooks database was crashing regularly. Their business was booming, yet, they were put at risk by the limitations of their accounting database technology. Luckily, they always had good back-ups and never experienced loss of data (but that can happen), but they knew the time had come to make a move. QuickBooks support was getting more and more arduous. NetSuite’s cloud software platform is built from the ground up to be agile and flexible, without the additional overhead complexities of maintaining the underlying platform. When our client went to the cloud, they had no more servers or databases to maintain or security patches or heavy reliance on IT. They were able to focus on moving the business forward.
If you are experiencing some of the issues above, give us a call and we can discuss if a move to the cloud is the right move for you. Don’t be left behind. Once you move your business systems to the cloud, your team can become more efficient and effective. Employees won’t spend time entering data into multiple systems, instead, they can focus on reacting to customers, the market, and their business. We sell and implement multiple solutions – so call us first so we can help you find the right fit for your business. [firstname.lastname@example.org]