Before you launch your new business, you have the luxury of taking the time to make sure your products or services are perfected for the public. Once you start gaining clients and revenue, however, it’s go, go, go! At that point, you’re wearing a hat for customer service, sales, and yes, your business’s financials. As an entrepreneur, your business system should manage all these day-to-day operations, allowing you to concentrate on what matters most: growing your brand! Entry-level accounting solutions such as QuickBooks or Xero can manage your financials at the beginning of your company, but what about when it’s thriving and growing at an exponential rate? Most business owners find difficulty in determining when they’ve outgrown their accounting software. However, if you’re experiencing any of the following pain points, it’s time to invest in a new solution that can work for you.
Let’s make a list to see if your current accounting software can keep up with your business’s growth potential.
Does your current accounting solution…
Offer security down to the field level?
As your employee count grows, so should your security. You need a system that provides full role-based security to control access to your company’s data to ensure that users can only see the information that you want them to see.
Have a complete audit trail?
Do you have a system that provides a full audit trail on every transaction that is created, such as date and time stamps with user entries? Are you able to view a summary of everything that has changed? If not, your business is probably not compliant with various regulations. You have to ask yourself, “how safe is my data?”
Let you track, control, and manage your inventory wherever you do business?
Entry-level software is not effective at managing inventory, let alone costing and accounting for it at multiple locations. What if each location can control its own pricing, reordering, and stocking characteristics? With the right inventory management system, you can.
Allow you to work from anywhere at any time?
Your business should be available on mobile devices or any browser via the cloud, not spending money on upgrading your hardware. The cloud presents numerous benefits, including mobility, security, and the ability to scale up as your business grows.
Give you the option to extract data quickly and with ease?
Your accounting system should not only give you a one-click look into your financials, but also be able to easily create an advanced search query to give you a deep dive into your business. You should also be able to add filters and dimensions to your searches to easily access the data you need.
Create reports that are easy to produce and in real-time?
Having this information accessible at all times is key to the inner workings of your business. You need a cohesive business system that can handle all your company’s needs at any time.
Allow you to account for multiple companies or entities in one database?
Does it take your staff days to prepare consolidated financial and operational reports? Are they having to log in and out of databases? If yes, is all that manual redundant data entry a good use of their time? Forget about happy employees at month-end because of all the manual processes that have to go through.
What if you could have it all?
Since there isn’t a predefined answer, the number one thing to consider when evaluating your current solution is functionality. If you’re having to sacrifice any of the above features, you’re running on non-functional accounting software, simple as that. As companies become more sophisticated, they need more than just basic financial transactions, and that’s where Gravity Software® (Gravity) comes in.
Gravity is built on the Microsoft Power Platform (aka Dynamics 365 CRM) platform, an open platform that hosts over four million users worldwide. With Gravity, all of your essential business apps are located in one database, with one user interface! Gravity’s features include robust financial reporting, customizable dashboards, multi-location inventory, and its claim to fame: its advanced multi-company reporting capabilities.
It if sounds like your business has outgrown its accounting software, the time to act is now! Imagine your employees having more time to perform value-added activities that ultimately drive your company forward. Schedule your online demo with Gravity today to see how you can apply this exciting technology to your growing business.
Gravity Software
Better. Smarter. Accounting.
