Is your off the shelf accounting system missing the mark? Are you finding your MYOB or Xero doesn’t quite fit the way it used to? Are your data tools no longer delivering the complex reports you now need? Are you spending too much time manually entering information? Are errors in reports and out-of-date data a common occurrence?
If you answered yes to any of these, at first glance it seems the complexity of your business operations are no longer supported by and have outgrown your current accounting software system.
There is no question off the shelf accounting systems like MYOB and Xero have great features and are incredibly popular. In fact, they deliver excellent value for money for many small business accounting needs.
These entry-level accounting software packages can perform very well as a business management solution when your company starts out.
However, as your business experiences growth, the limitations of an off the shelf system are uncovered as they can fail to deliver the flexibility, functionality and scalability to meet the needs of your industry and company for a variety of reasons.
What are the five signs?
Here are five common signs you are ready to upgrade to a fully customised software accounting package or enterprise resource planning (ERP) solution.
- You can’t receive the information you need and don’t trust what you get
- Important business processes are manual and highly reliant on one or a few key personnel.
- Reports and business processes are managed in Excel and errors are creeping in during their lengthy preparation
- No support for multiple sites or business divisions
- Limited configuration capability to suit your industry
What should I do next?
Do your research. Think about what system is a right fit for you. Ask yourself questions about the functions you want your new system to deliver? Does it need to produce reporting quickly and simply? Can it deliver all the business functions in one software solution? Will it support your business growth now and into the future?
Do you upgrade to another tier of your current software or do you invest in a fully customisable enterprise resource planning (ERP) solution that is designed to seamlessly integrate data across all your business functions?
Answering questions like this will give you a much clearer idea what system is best positioned to support your current and growing business needs.
If all this sounds daunting, the team at Acumen with over 40 years expertise in developing and installing software can step in and assist.
Acumen Computer Systems offer professional advice, expertise and are highly skilled in designing a customised, fully integrated software solution that fits across every facet of your business.
Reach out for a conversation around how we may help you navigate the complexities of upgrading or investing in the right accounting software system for you. Phone: 1800 228 636