Every forward-thinking entrepreneur yearns for growth. And this growth is possible only if businesses use the right set of tools necessary for an unhindered workflow. The need for these tools evolves over time. Most businesses start with traditional spreadsheets and a basic accounting software system. However, a time comes when the company outgrows this basic software. In this article, we will point out why it’s time for businesses to look past Quickbooks a traditional accounting software – and opt for a more specialised ERP tool like SAP Business One to ensure unfettered workflow.
QuickBooks Is Shutting Down Its Services In India: Look For a QuickBooks Alternative Before It’s Too Late
QuickBooks is going to discontinue its accounting software and services from April 2023. The company has already stopped onboarding new customers. Businesses relying on this accounting software must look for a QuickBooks alternative to ensure that their workflow is not affected by this decision. Since every organisation using QuickBooks will be forced to use something else, now is the right time to look beyond simple accounting software and choose a tool that can take care of the whole business – not just accounting.
Scalability Becomes an Issue With QuickBooks
QuickBooks is awesome for small businesses that are just starting out. However, as businesses grow, so does their database. And once the business database grows to a certain degree, QuickBooks starts faltering. And that’s natural. QuickBooks is made for extremely small businesses run by small, close-knit groups of people. Hence scalability is not possible with QuickBooks. So businesses must move from QuickBooks before they outgrow this accounting software.
Today, some of the best ERP software caters to small businesses by providing affordable ERP products that can handle the increased workload and empower businesses to scale up. SAP itself provides ERP software that specifically targets small businesses. Its flagship SAP Business One can be perfect for small businesses on a growth trajectory. SAP Business One can handle large databases with over a hundred concurrent users and supports all the features necessary for a smooth operation.
Growing Businesses Need More Than Just an Accounting Software
QuickBooks is a superior accounting software – no doubt about it. But a growing business needs to take care of and automate its entire business process. Otherwise, manual processes will hinder the free flow of business information and obstruct the business from establishing a collaborative environment. Such businesses need a QuickBooks alternative that can handle complex business functions.
QuickBooks has discounted cash flow management as well. Yet this is one of the most important features demanded by small businesses to examine their financial health. Yes, there is the expense management dashboard, but it is very basic. On the other hand, SAP Business One provides a comprehensive cash flow feature that covers all the advanced functionalities. From ageing customer receivables to comprehensive financial overview- SAP B1 handles everything.
If You Need Superior Inventory Management, You Have To Move Away From QuickBooks
Since QuickBooks is just accounting software, inventory management is practically non-existent in it. As your business grows, you need a QuickBooks alternative that can manage your inventory and include it in the business process management tasks. In Quickbooks, registering a sale or purchase won’t update the inventory level automatically. You have to use separate inventory software to do that. This lack of a connected experience results in cumbersome business process management. With ERP solutions like SAP Business One, the entire business process is handled by a single tool, ensuring an end-to-end connected experience.
Businesses Need Intelligent Reporting To Stay One Step Ahead. Unfortunately, QuickBooks Does Not Provide That
QuickBooks provides basic reporting functionalities. However, businesses need intelligent business reporting with responsive charts and graphs. This is only possible with state-of-the-art ERP software like SAP Business One. With intuitive dashboards, ERP tools provide more detailed yet digestible information relevant to our business. For example, in SAP Business One, you can set up the dashboard to show “Opportunities in the Lead or Quotation Stage”. This can help businesses follow up on the opportunities in a more organised way.
QuickBooks, as accounting software, is perfect. However, businesses need more than just accounting software as they grow. This is why QuickBooks becomes inadequate for growing businesses. Such businesses need a solution to support their processes from the ground up. This is only possible with ERP software. ERPs like SAP Business One can be a perfect solution for these small but growing businesses. Tools like this can strike the perfect balance between being affordable and scalable.