Countless businesses struggle to find the right software solution to meet their varied needs. The result is a tangle of software, spreadsheets, and systems. To find the right software for your business, you need to consider what you will need as you grow, rather than what you need at this particular time.
For many new businesses, the best software solutions are user-friendly and tailored to their current needs. This combination often leads to relying on accounting software like QuickBooks to manage tasks like payroll, income, and sales.
But as a business grows, the limitations of this accounting software can quickly become apparent. While finances can be managed, operations related to logistics and supply chain management are often overlooked. This oversight is forcing companies to build a stack of other platforms to fill these feature gaps, resulting in a bloated mess of solutions that get the job done – but not efficiently.
For businesses that want to reduce operating costs and ensure smooth navigation as they grow, choosing the right business software is essential. If you haven’t taken a close look at the software your business uses lately, now is a great time to do so.
The right software brings out the best in your business
American businesses lose an estimated $ 1.8 billion in productivity thanks to outdated technology. Software that no longer meets the needs of a growing business can end up being a drain on resources in the short and long term.
On the one hand, there are immediate savings to be made by moving to something more comprehensive, like enterprise resource planning (ERP) software. A good ERP can automate several menial office tasks including accounting, record keeping, and payroll. At the same time, more mobile-friendly solutions make it easier for employees to access data when and where they need to work.
As a business grows, so should its software. An ad hoc software approach will eventually hit a wall when attempting to scale. Whether this software lacks sufficient functionality, collects data inefficiently, or simply does not have a standardized system, problems will arise when a solution cannot work for a growing team.
In short, choosing the right software isn’t just about finding an option that works a little better. It’s about choosing scalable business solutions that will help a business thrive rather than a set of software that might actively prevent it from growing.
Questions to ask when choosing business software
Whether a business should opt for QuickBooks or ERP is not an academic question. This can have a tangible impact on your bottom line. If you think your current solution stack isn’t enough, here are some questions to ask yourself:
How much time do you spend entering data?
If your employees spend most of their day moving orders from an ecommerce platform to QuickBooks, your current system is probably in need of an upgrade.
Entering data manually not only exposes your business to human error, but also consumes time that could be better spent elsewhere. Truly scalable business solutions know this, integrate into your workflow, and automate data entry.
Are you doing a double entry?
It’s bad enough to have to manually enter data just once. Unfortunately, many companies have to go through this process for every program they use.
For example, there’s no reason for people to spend time taking order information from Amazon just to re-enter it into QuickBooks. As you scale, this minor inconvenience becomes an expensive bottleneck. There are many ERPs that allow you to automate this data entry, removing redundant logistics and supply chain management tasks from your employees’ workloads.
How do you manage the reconciliation of payments?
Processing the reconciliation of payments can be a struggle. Even something as simple as posting different market fees can be a huge waste of time. Some companies have employees whose full-time job is to enter payment reconciliations into the system.
If these situations sound familiar to you, it’s time to find a solution that can automate this process. This decision can free up your team to focus on more pressing issues.
How many apps do you have Actuallyuse?
Over the years, many companies have concocted an army of applications to meet various needs. A business can start with QuickBooks but later add inventory management software, CRM, or a production application.
Before you know it, this company can’t work without six or seven different applications across multiple Excel spreadsheets. However, there are many cohesive and scalable business solutions that can reduce operating costs and streamline operations.
If you plan to continue to grow, you must replace this assortment of solutions with a unique service that grows with you. Streamlining instead of adding is an investment in the long term viability of your business.
When choosing the right software for your business, you can’t just look at what you need right now – you need to consider what you’ll need as you grow. If you find that you are struggling with the limitations of your current services, now might be a great time to look for a solution that can serve your entire organization.
Written by Gustavo Zientek.
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