Think Your Business Is Outgrowing QuickBooks? 7 Reasons the Answer Is No
Growth is integral to the success of any business. But as momentum increases, your business needs adaptable, scalable systems to keep up. As companies grow in size and complexity, they often reach an inflection point where they think they’re outgrowing QuickBooks and begin considering other solutions.
Opting for a higher–level software package might give the impression that you’ve leaped to the “big leagues,” but a higher level doesn’t always translate into higher value. Here, we’ll discuss some of the considerable downsides to switching to an ERP and ways you can significantly increase the lifespan of your QuickBooks solution. Consider these reasons that favor staying loyal to QuickBooks.
Optimizing QuickBooks vs. Upgrading to ERPs
QuickBooks is the accounting software of choice for more than 29 million small businesses in the U.S., with a diverse product offering suited to help both small businesses (QuickBooks Online), larger growing companies (QuickBooks Enterprise), and everything in between (QuickBooks Pro, QuickBooks Premier).
Oracle’s NetSuite and SAP are two more robust enterprise resource planning (ERP) systems that larger businesses frequently investigate. This software comes with increased functionality, a hefty price tag, and sometimes a six-month or longer conversion cycle.
That’s why our straightforward encouragement to our clients is to stay in QuickBooks and maximize their existing software as long as possible. In fact, you can continue utilizing QuickBooks by optimizing the software to meet your business to the fullest extent.
2. QuickBooks Enterprise Has Industry-Specific Solutions
A common reason that a company might feel they’re outgrowing QuickBooks is the desire to add more tools or fulfill specific industry requirements. This motive can prompt businesses toward other solutions.
However, industry-specific accounting and ERP systems often suffer from inadequate documentation and infrequent updates. These systems can also make hiring difficult, as the company must train staff on a niche system rather than a cross-industry standard.
Fortunately, QuickBooks offers industry-specific solutions tailored to the needs of varied business sectors.
QuickBooks Enterprise has solutions that meet the needs of:
- Manufacturing and Wholesale
- Contractor
- Nonprofit
- Retail
- Electronic Data Interchange (EDI)
These industry-specific solutions include all the functionality of QuickBooks Enterprise but with specific features and reports unique to the industry.
Where QuickBooks Consulting Comes In
Fourlane can step in to help leverage QuickBooks Enterprise tools when your company has industry-specific needs. We can assess your unique business requirements, evaluate the efficiency of regularly used existing QuickBooks tools, offer expert software insights, and help develop a solution implementation strategy that aligns with your industry’s standards better.
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3. QuickBooks Enterprise Integrates Seamlessly with Many Other Systems
Most companies use more than one piece of software for various essential business functions. Integrating these systems saves time and money, removes duplication of effort, and eliminates opportunities for errors.
For companies relying on various tools to manage crucial business functions, QuickBooks Enterprise goes beyond standalone capabilities to offer seamless integration with diverse systems.
This capability offers numerous advantages. First, it eliminates manual data entry and toggling between disparate systems—crucial for businesses seeking streamlined workflows. You can minimize redundant tasks, reducing the risk of errors to enhance overall accuracy in data management.
Where QuickBooks Consulting Comes In
QuickBooks has a semi-open API but very little documentation. In addition to setup, file review and repair, and training, we focus on two critical tasks: workflow design and custom programming. We employ a team of custom programmers who can integrate QuickBooks Enterprise with virtually any product with an open API. Products include CRM and sales systems, proprietary software, and project management solutions.
Although these integrations are an initial capital expense, they provide incredible short- and long-term value. Integrations remove administrative tasks that may take up valuable staff time and offer opportunities for better insight into your financial data for a clearer view of how different departments impact each other.
4. Existing QuickBooks Enterprise Systems Conserve Departmental Resources
The preservation of resources is particularly crucial for businesses stretched due to rapid growth or multitasking demands. Rather than invest in an extensive time commitment by transitioning to a new ERP system, an existing QuickBooks Enterprise infrastructure is a strategic ally in preserving valuable time, energy, and human resources.
Why? Switching to a robust ERP system typically takes at least six months. During that time, your staff would need to enter every figure twice—once in the old system and once in the new one. If you’re growing quickly enough to feel you’re outgrowing QuickBooks, it’s likely that your staff is already stretched thin and may be filling multiple roles. You could spend these precious hours helping customers and fostering business growth.
The complexity of a higher-level system also requires additional staff to manage, including building your system and workflows, migrating the data, and training your team. Typically, a consultant from the new system’s staff handles these tasks. Many companies even hire an extra external consultant on retainer for ongoing support and advice.
You’ll not only pay for these additional consultants but also need someone on the team to serve as the point person. Each department must review proposed workflows, click through every new system screen, and report any bugs. You’ll also need to dedicate time to training and updating all documentation to reflect the new system processes.
If reasonably dedicating roughly 1,500 hours of your team’s time to the conversion project seems challenging, we recommend staying in your current system a bit longer.
Where QuickBooks Consulting Comes In
Fourlane can ensure that existing QuickBooks Enterprise systems effectively conserve departmental resources. When departments face challenges or require specialized guidance, our consultants step in to troubleshoot issues, provide advice, and contribute to the overall optimization of the QuickBooks Enterprise setup.
This capability allows your business to tap into external expertise without burdening internal teams, freeing departmental resources for efficient use within the existing framework.
