One thing commonly associated with a growing business is a tight budget. Every purchase and expenditure scrutinized and analyzed. Every dollar allocated and tracked. When it comes to your accounting software, an entry level solution like QuickBooks did the job; however, with growth, increased revenue and expansion, also comes new concerns. Here are five good reasons why businesses should invest in online accounting . . .
- Lack of Data Transparency: Are you able to maintain transparency at every level of your operation? Can you access the information you need, when and how you need it? What about accountability? As these systems become more complex, so does the data they house. You need a solution that provides data transparency so your team is efficient and spending time adding value to your operations, not trying to find information.
- Inventory is Out of Control: Are you able to track, control and manage your products? And with so many moving parts in your day to day operations, inventory control and costing falls through the cracks. What if you could control your inventory with true multi-location, and GAAP compliant features?
- Insufficient Financial Controls: In a perfect world, you would match every purchase order to a corresponding invoice, and send it over for payment. However, in the real-world, you or your team are making phone calls, and sending emails trying to track that special pricing that was promised from your vendor. You have to ask yourself if your business is getting the most value from your purchase order system?
- Endless Spreadsheets: When your hardworking team is hampered by inaccessibility to crucial information from your sales, marketing, inventory and financial departments. All that drive and energy are essentially wasted on compiling tons of spreadsheets to produce a monthly financial statement. Why not have a reporting solution that works for your business instead of against it.
- Questionable Security: Protecting your company data shouldn’t hinge on having your IT guru on-call. Setting up proper security measures, parameters and deciding who has access to what should be easy. You need a solution that provides full role based security to control access to your company's data to ensure that users cannot see information or create documents that you don't want them to see.
A Robust Cloud Solution
Fortunately, reliance on a patchwork of entry level software, spreadsheets and your local IT expert, is not the only option, and far from the best as your business starts to grow. Set your sights on a bright horizon by implementing a solid cloud-based accounting solution like Gravity Software™ (Gravity).
Built on the Microsoft Dynamics 365 (aka Microsoft CRM) Platform, Gravity is structured to help manage and efficiently operate your startup business. By implementing an online accounting solution, you’ll reduce those dreaded overhead costs while increasing operational efficiencies across the board. What a way to save and grow at the same time! My business is connected. Is yours?