In our journey we meet many young, growing and successful companies that have outgrown the capabilities of their initial accounting system. These companies are at a crossroad; they know their current system won’t meet their future needs, yet they are uncertain about or surprised by the investment required to get them to the next level. Does this sound familiar?
Entry-level systems like QuickBooks or Peachtree are smart choices for just starting out when you need capital available for starting and growing your business. They will provide you with the basics for billing your customers, paying your suppliers, paying your employees, etc. In a nut shell, they will get you through the first couple stages of growth.
Once your business accelerates and is growing with more velocity it will no doubt get more complex, transaction volumes will increase, all the spreadsheets you had to complement your accounting system will increase in volume and complexity, etc.
At that point you realize you can’t keep up with it and need to find a way to become more efficient and scalable to grow the business effectively while keeping customers and suppliers happy and maintaining a strong bottom line.
Prepare for the Shock of Change
So as you approach the crossroad you look out on the horizon and begin investigating the next tier of solutions. As you encounter them you begin to get an understanding of their capabilities, performance, and yes, the price tag. That price tag is an initial shock, not because the value isn’t there but because it is significantly different from your first accounting system and it is a new and different experience altogether.
At this point it is important to gradually break, get a firm understanding of your company’s road map and options needed to navigate that next turn in your business growth and maturity cycle.
Keep an Eye on the Advantages of Updating Systems
As your business grows it’s important to get rid of the silos of information stored and managed in disparate systems. If you don’t, it will be a bottleneck and a road block for the successful growth of your business and ultimate destination. You need to navigate to one integrated system that will drive performance in the areas of sales, marketing, finance, purchasing, supply chain management, human resources, communications and collaboration.
For those that have taken the journey to the crossroads and successfully navigated the turn, they will tell you they can now see beyond the horizon and realize it was the best turn for their journey that continues on without unnecessary road blocks.
As you explore the next generation of accounting software, consider Microsoft Dynamics GP which is geared towards small and growing businesses. We have curated resources to help you understand how Microsoft Dynamics GP can help your business and provide you with a solution that is scalable and will support your company's growth. We have also created two offers that will help you get started with your migration from QuickBooks, Peachtree or Sage 50 2013.
Contact Eric Sheehan to find out how OTT, Inc, is helping businesses in the Twin Cities area expand and grown.