As a company or firm grows and adds staff, many businesses feel they need to upgrade their accounting software in order to move to a higher-end, more complex accounting system or ERP, such as Oracle or SAP.
There’s a reason why nearly 500,000 small businesses use QuickBooks: it’s a simple, easy-to-use tool.
With any business, two of the most prioritized and pivotal factors are time and money; ERP-sized software are designed to handle higher-end, more complex accounting requirements and cost significantly more than QuickBooks. In addition, the conversion process can takes months – during this time, the staff may have to perform double-entry in the old and the new systems, frequently requiring additional staff to manage. And, with ERP systems, one size does not fit all; these products require add-ons based on your industry or system requirements, increasing the already-steep price tag.
That’s why so many of our clients have kept it simple and stayed with QuickBooks – specifically, QuickBooks Enterprise. A step up from QuickBooks Online or Desktop versions, Enterprise adds additional functionality required by large- and mid-sized businesses.
Here’s a chart to compare QuickBooks Enterprise to larger ERP products:
Why stay with QuickBooks?
- 1.QuickBooks Enterprise is scalable to your needs. As your company grows, so does the size of your back office team. QuickBooks Enterprise allows up to 30 users with access to the same QuickBooks file at the same time. This administrative control gives employees the information and activities they need to do their jobs, while still having appropriate limits in place to protect data integrity.
- 2.QuickBooks Enterprise provides solutions for your industry. Two of the reasons people leave QuickBooks are to add a more robust inventory tool or meet specific industry requirements, but those reasons come with add-on modules and additional costs. QuickBooks Enterprise has the following modules already available: Manufacturing and Wholesale, Inventory and Management, Contractor, Nonprofit, Retail, EDI.
- 3.You can integrate QuickBooks Enterprise to improve your workflow. Most companies need systems to talk to each other in order to save time, money, decrease errors and reduce duplicative effort. Improving workflow is completely possible with QuickBooks Enterprise. We’ve integrated a variety of systems with QuickBooks, from CRM systems to ensure invoicing and contact information is in synch, to proprietary systems, such as a wholesale floral system that managed inventories and orders, but needed the accounting features. While these integrations require custom development work, the ROI is huge.
- 4.QuickBooks Enterprise has the capacity to manage a lot of data. As your business grows and gets older, there is going to be more data . QuickBooks Pro and Premier start slowing down as they get too large, which leads many companies to feel that it’s time to abandon the product. Don’t! QuickBooks Enterprise can handle data file sizes of 1 gigabyte or more. The system also allows you to track 100,000+ vendors, customers, inventory items and employees.
- 5.Reporting and tracking inventory. Industry specific reports, sample files and charts of accounts are available in QuickBooks Enterprise. In fact, the software’s new Advanced Reporting system allows users to create any report, including consolidated reports from multiple company files. You can also customize reports to meet your business needs.
Many companies also abandon QuickBooks when they open a new location. However, there’s simply no need to do that because the Advanced Inventory module for QuickBooks Enterprise allows businesses to track inventory in multiple locations, as well as the serialization or lot tracking of inventory. The system will allow you to track inventory by bin location, keep inventory valued using FIFO costing and use barcoding capabilities. There are also third-party inventory systems that are made to work with QuickBooks, should you have additional requirements.
We are there for you!
All kinds of clients come to us with different sets of issues; our role as a consultant and solution provider is to come up with a plan to help them manage their financial information, while getting what they need out of their systems to run their organizations more efficiently and productively.
Staying with QuickBooks, as well as considering the move to QuickBooks Enterprise, is smart in so many ways, even beyond the five reasons outlined in this article.
Think you’ve outgrown QuickBooks? Consider your alternatives and how much time and money you’ll spend on a new system before making a change. Reach out to us at Fourlane if you’d like to discuss the particulars of QuickBooks Enterprise for your business. Call us today at 800-931-2120.