The blog that follows is an extract of a whitepaper titled “Life After QuickBooks” produced by Sage Intacct.
For many small and mid-sized businesses, Intuit QuickBooks is the preferred choice for financial software in the organization’s early days—and for solid reasons. QuickBooks is well-known and easy to use, and it offers the basic functionality that almost any business can use to get off the ground.
In this post, we’ll discuss how “Standing Pat” with QuickBooks can cost more than you think.
If you’re trapped by workarounds, extra steps, manual data entry, and patched-together analyses, you are already spending more than you realize. That’s because these inefficiencies gradually become “standard procedure” and create a silent drag on your organization by hampering your ability to do business. And since budgets are always tight, it might seem like “standing pat” is the safe and cost-effective option. But the reality is: if you’re using QuickBooks you’re incurring a broad range of hidden costs.
A recent TechValidate study* of QuickBooks users who switched to Sage Intacct uncovered a long list of challenges that organizations struggle with prior to moving to Sage Intacct:
- Over-reliance on spreadsheets to support financial process and reporting
- Excess manual data entry and re-entry
- Limited access to reports and information to drive decision-making
- Difficulty in adapting to new business requirements
- Inadequate controls around financial processes
Source: TechValidate TVID: 94C-D40-7D5