For many small and mid-sized businesses, QuickBooks is the preferred choice for financial software in your organization’s early days as it provides the necessary capabilities to keep finances on track. However, as your business grows, you may begin to experience excessive manual accounting that takes up a lot of time and clouds financial decisions. Most companies start to see these signs at about $4M in revenue or 25+ employees and they become significantly more painful as your company grows. At this stage, many businesses come to realize that they are outgrowing QuickBooks and begin evaluating mid-market ERP software, like Sage Intacct.
There are many reasons companies look to migrate from QuickBooks to Sage Intacct including:
1. Excessive Work in Spreadsheets
Often times, QuickBooks will force the finance team to rely on using spreadsheets. Spreadsheet dependency and complex workarounds lead to entry errors, painful processes and wasted time and resources. Not only will this delay reports, it can cause errors and makes budgeting and forecasting a very difficult process.
2. Company Consolidations
QuickBooks isn’t equipped for advanced financial functions like revenue recognition and multi-entity consolidation. By migrating from QuickBooks to Sage Intacct, you can consolidate 100s of entities with the click of a button.
3. Manual Billing and Data Entry
If your team is spending hours on manual workarounds, then QuickBooks isn’t doing you any favors. Manual data entry is tedious, time consuming and prone to errors. Instead, you can automate your billing process and allow your finance team to focus on more valuable and strategic business initiatives with Intacct.
4. Difficulty Adapting to Compliance Needs
From meeting new business requirements to compliance regulations, you need a tool that can adapt to the changing business world and maintain your data appropriately. Many organizations migrate to a financial management solution like Intacct that was designed to be GAAP compliant and audit-ready.
5. Lack of Financial Insight & Reporting Capabilities
As your business begins to grow, you need more advanced reporting capabilities and access to real-time data. QuickBooks only provides canned reports and doesn’t integrate with other business applications. Without access to real-time dashboards and customizable reports, your finance team is limited and forced to make decisions using outdated data.
Using QuickBooks often results in high overhead costs, functional limitations, and unnecessary workarounds. Today’s financial leaders need to have access to real-time financial insights in order to have the agility to make business decisions at a moment’s notice– something that QuickBooks can’t provide. As your organization grows, it’s important to stay ahead of the curve with a financial system that’s designed to work the way you need it to. Once you realize your organization is outgrowing QuickBooks it is time to start looking into more automated solutions.
Want to learn more about the benefits of migrating from QuickBooks to Sage Intacct ? As a top VAR for Intacct Partner for 15+ years, our team of experts are here to help!