By Ashley Harvey
Marketing Manager at Zerion360
If you’re finding yourself asking this question, it’s probably a good sign. As your business grows and becomes more successful, a higher burden will be placed on your current software to perform and accommodate this growth. But how do you know when it’s time to upgrade? Here are some key indicators that your business software is buckling under the weight of expansion:
Transaction volume and complexity of business
As the number of transactions you process increases, the ability for your current software to keep up may be decreasing. The inability to keep up with your business will result in an increase in the time it takes to enter in and process transactions as you work to accommodate the system. It should be the other way around – make sure the software you choose accommodates you and your businesses’ increases in sales and volume. Another key indicator is if your business needs to track and handle tasks that are industry specific or not completely handled by simple out-of-the-box software. Business software that can be optimized to custom fit your needs will save you time and money in the long run.
How much time is your business spending keeping its books? How long does it take you to complete and compile year end tasks? Beyond accounting, how much time is spent on redundant data entry? As any small business owner can contest to, time is incredibly valuable. If your current software isn’t meeting all your business needs you’ll find yourself spending more time on managing information and files – which could be a sign it’s time to switch.
You need integrated systems that give you a 360 degree view of your business
Nowadays there a tons of add on packages, websites, and mobile tools that allow you to fill in the gaps with software such as QuickBooks. While QuickBooks manages your accounting, these add-ons can help manage your CRM, inventory, and other business needs. These tools are great solutions for smaller companies – but what they fail to do is enable you to have all the information relevant to your business in one place. Making sure you and your team have access to all necessary information, being able to extract and use this data whenever and wherever you may need it, and enabling you to have an overall perspective of the business and its processes will inevitably:
- make the business run more efficiently
- increase productivity
- help make quicker and better informed decisions
- give you a better system for managing growth and success that will grow with your company.
Small business solutions such as QuickBooks and accompanying add-on resources are great options for businesses that are just starting out. They give affordable, out-of-the-box options that allow people to have access to the necessary tools to grow and manage their enterprises. However, as success brings an increase in transactions, customers and other aspects to manage; these starter options are easily outgrown and unable to accommodate the growing needs and complexities of many businesses.
Let us know your experience and opinions – feel free to connect with us and comment below.