7 Reasons Why You Need To Upgrade Your Accounting Software

If you want your business to work faster and harder as it grows, you have to keep the tools you’re using up-to-date. A good place to start is upgrading your accounting software. Especially if your business has just gone through a growth spurt.

Your accounting software shouldn’t be a pain to use and it certainly shouldn’t result in unhappy customers, falling behind the competition, or lost sales. Even worse, if you have yet to think about updating to cloud accounting software, it could be costing your business time and money.

Do you need some incentive to start pushing for your company to upgrade its software? We’ve got 7 reasons why you should upgrade your accounting software right now ready to go.  If anything on this list sounds familiar, quit wasting time and upgrade already!

  • You’re jealous of anyone who can run their business from their smartphone. Do you still have to call someone in the office for help when you’re trying to answer customer questions? Did you know you can easily resolve this problem by upgrading to cloud-based accounting software?

    Using cloud-based accounting software gives you complete mobility. You can stay connected with your data on any device with an internet connection, respond to new opportunities, and exceed customer expectations. It’s a win-win for everyone. Added bonus: cloud-based accounting software is often much more cost effective and it’s 10x easier to use. There’s no need to stay within arms reach of a desktop anymore. Oh, and it’s also one of the most secure ways to store information nowadays. You’re lagging behind if you’re not using some mobile-friendly software. It’s 2016. There’s no reason you shouldn’t be using accounting software that’s mobile-friendly and allows you to provide the customer service clients have come to expect in the digital age.
  • You’ve uttered the phrase, “I think we might have that product somewhere in the warehouse.” If your system can’t tell you what’s in stock or what’s been distributed to a customer, you aren’t alone.It’s surprising, but there’s a lot of businesses out there that operate without a firm understanding of their inventory. But why? There are so many great options out there  just waiting for you to take advantage of them!Your accounting software should provide you with any and all information about your inventory with the easy tapping motion of fingertips on a screen. So, if you constantly find yourself playing the “maybe” game, don’t you think it’s time you start thinking about an upgrade?
  • You’re losing sales to competitors whose products don’t hold a candle to yours. You can be the best of the best but if you don’t provide visibility into account information, available stock, or self-service options, your customer service, and sales will fall flat.There’s no good reason why you should be losing sales to competitors with inferior products. Especially if that reason comes back to your accounting software. Mainly because that’s an easy problem to fix.How? You guessed it: upgrade your system.
  • Your accounting software is older than the college sophomores applying for internships at your company. If you can still talk to me about how you Y2K-proofed your current accounting system, we’ve got a problem.Your accounting system has seen better days when it starts limiting functionality. Things move fast in the world of tech and software and if you haven’t made any changes over the last two decades, it’s safe to say that you’re missing out.Don’t hold your business back by hanging on to old, outdated systems and processes. Change is good. Embrace it. Keep moving forward and upgrade that accounting software.
  • You don’t have a comprehensive view of where you’re spending and earning.  How many details about expenses and accounts do you have in one-off spreadsheets?Lacking an accurate and comprehensive view of where you’re spending and earning is going to catch up with you and hurt you in the long run. The ability to operate cost-effectively relies on your ability to utilize information like payroll and other expenses.You have to know when and where to cut costs and adjust budgets if you plan on continuing to grow. Analyzing your costs and earnings should be easy if the accounting software you’re using is up-to-date and it’s the right fit for your company.
  • Your current software is no longer benefiting your business. This should be a no-brainer and practically encompasses everything we’ve discussed this far anyway but it’s worth going over again.Does your current system provide you with automatic updates? Is it multi-user accessible and collaboration-friendly? Do you have a clear overview of your financial position in real-time? Has it reduced upfront business costs like version upgrades, maintenance, and system admin costs? Has it prevented you from worrying about server failures?If you can’t answer yes to all of the above questions, here’s your sign. It’s time to upgrade your system.
  • Your accountant recommends an upgrade. Your accountant’s job is to help you with your business accounting, right? They understand how things work and how your accounting software might be holding you back.If you’re not sure that it’s time to upgrade your accounting software, talk to your accountant. They’re a great resource for making decisions like this and can probably recommend what you should be looking for in order to improve the accounting process.Your accountant knows you and your business. They’re an expert at what they do. So if they’re recommending it’s time to upgrade it might be worth your time to listen. What do you think?