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5 Signs It's Time to Upgrade from QuickBooks for Your Growing Business

Posted by Jesse Guzman, Consultant on Mar 2, 2023 10:16:26 AM
Jesse Guzman, Consultant
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For over a decade, Concentrus has been helping organizations select alternatives to Quickbooks and migrate to a modern cloud-based ERP like NetSuite and Acumatica. 

Based on our experience, here are some indicators that your company has outgrown its current accounting system.

  1. Complex Business Operations: As your business grows and expands, it may require more advanced features for inventory management, supply chain management, project management, and other areas that are beyond the scope of QuickBooks.  Examples such as lot tracking, serial number tracking, or simply inventory management. 

  2. Multiple Departments: If your business has multiple departments such as sales, marketing, and operations, it may require a more sophisticated software solution that integrates these departments and provides a unified view of data.  Many times, organizations will piece together multiple siloed systems like QuickBooks, Salesforce, Ship Station and even Excel spreadsheets to operate their business.  And while all these tools individually serve their purpose, it can create duplicate entries, mistakes and makes reporting difficult. 

  3. Increased Transaction Volume: QuickBooks may not be able to handle a high volume of transactions efficiently, and your business may encounter limitations in terms of reporting and data management as they grow. In addition to being able to handle higher limits, modern cloud-based ERPs such as NetSuite and Acumatica are designed to provide you with all of the foundation you need to support your company's growth. 

  4. Multiple Locations: If your company has multiple locations, whether they are distribution centers, retail stores, or manufacturing facilities, it may make more sense to switch to a tool that can manage transaction data from multiple locations. Doing this could provide a single source of truth for all your data, helping you better understand how each location is performing. For example, knowing where inventory is in stock, calculating the profitability of each location, monitoring bill of materials, across multiple locations, and reporting.

  5. International Operations: If your business expands and begins to operate globally, it may need a software solution that can handle multiple currencies, languages, and tax codes.  Regional compliance is built into NetSuite and Acumatica.   Additionally with QuickBooks you can only have one entity per instance, NetSuite and Acumatica can host multiple entities in one environment.   This means that cloud ERP can help you better understand all of your operations, both domestically and internationally. 
The advantages of NetSuite and Acumatica, such as the ability to integrate data from multiple systems, streamlined inventory management, better reporting capabilities and robust security protocols make them attractive options for businesses looking to upgrade their operations. In general, businesses should consider advancing from QuickBooks or other basic accounting software to a more scalable solution like NetSuite or Acumatica to avoid growth constraints caused by technological limitations. 
 

Let us help you find the best QuickBooks alternative for your business. 

 

 

About Us

Concentrus is a cloud ERP service provider with partners like NetSuite and Acumatica. That means that we provide implementation, customization, integration, support, and training and help our clients get sustainable, long-term solutions to meet their business needs. We also provide growing organizations with better alternatives to QuickBooks. 

 

Read About Our Implementation Methodology

 

Want more NetSuite Tips and Tricks? Check out our Short & 'Suite videos

 

 

Tags: NetSuite, ERP, Reporting, Acumatica, cloud-based ERP, Business Benefits, Cloud ERP, Acumatica ERP, Netsuite ERP

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