Wisdom says “If it’s not broken, don’t fix it.” But how do you know when something is actually broken?
We bring this up because a lot of businesses are still using the on-premises accounting software they installed in their earliest days. They’ve stuck with this solution – QuickBooks is the most common culprit – so long because it’s familiar and it gets the job done, mostly. Plus, who wants to learn a completely new system, especially for something as important as accounting?
This attitude is totally understandable. The only problem is that older, on-premises, or introductory accounting solutions create problems that are easy to excuse or ignore. Too many people assume that accounting is supposed to be confusing, time-consuming, repetitive, and reactionary. In fact, those are all just symptoms of broken accounting software. And they’re not just annoying…they’re unsustainable.
Your 6 Signs
In the best instances, ineffective accounting will drag down growth. But in the worst, it can ruin a business, even one that is exceptional otherwise. Given this fact, any enterprise using on-premises accounting software should take an honest look at whether it’s still working. Watch for these signs that an upgrade is overdue:
- Endless Manual Entries – Entering data by hand or copying and pasting it between spreadsheets eats up a lot of productive time and creates the constant risk of typos throwing off the data.
- Constant Compliance Hiccups – Basic accounting tools make it harder to comply with regulations like HIPPA or GAAP. You either have to spend a lot of time on compliance or pay the penalties for non-compliance.
- Lack of Visibility – Accountants only have one perspective into the data because the metrics are limited and hard to customize. Asking anything besides the most typical accounting questions is difficult because the data lacks transparency and flexibility.
- Uncertain Cybersecurity – On-premises IT is vulnerable to both hackers and fraudsters. You have to make the tough choice between investing heavily in cybersecurity or leaving financial data open to attack.
- Exhaustive IT Maintenance – IT staff need to spend a big part of each day keeping on-premises servers updated and secure. If there is not enough staff or there is some kind of mistake, the accounting software may go offline.
- Overuse of Excel – When the accounting solution falls short, Excel is the backup, which creates different problems. Spreadsheets are notoriously confusing and hard-to-use. They also keep data trapped in separate spreadsheets instead of integrated in one place.
When you notice these signs it’s cause for alarm, and for celebration. That’s because outgrowing your old accounting software is an issue you need to address and also a sign of your success. Stronger, smarter, more sophisticated businesses need tools that can keep up. When your old ones no longer work, it’s proof of how far you’ve come. So take a quick victory lap, then get serious about an upgrade.
If any of this sounds the least bit familiar please don’t hesitate to reach out. We want to help you on your path to the accounting system that fits your business and helps you reach your full potential. Give us a call at 855.913.3228 or send us an email at email@example.com and we can schedule a discovery call. At Alta Vista Technology we take pride in being part of your solution!