Four Reasons Why QuickBooks Is Failing Your Services Business

Innovergent writes: QuickBooks was the best fit for your business when your company was in its infancy, but is it the right choice to drive success in the next stage of your

organization’s growth? QuickBooks claims more than 3.5 million users, so you’re

not the only one facing this question. 

Many services organizations arrive at a similar crossroads every year. Timing is

everything—if you replace QuickBooks too early, you may end up buying more

capability than you need. But if you wait too long, you could end up struggling

with inefficient business processes that hurt your project delivery, business

performance and future profitability and growth. 

Laboring ahead on QuickBooks may seem convenient, but at what point do

you start missing out on growth opportunities by maintaining the status quo?

When is the right time to make the move? NetSuite has been working for years

with businesses in the services industry that have reached the limits of QuickBooks.

While services businesses are diverse, the issues they face when reaching the limits

of QuickBooks are remarkably similar. 

This white paper draws on real-world stories of small and medium-sized

professional services organizations (PSOs) that have upgraded from QuickBooks

to NetSuite at critical junctures in their development. It also outlines four common

business process inefficiencies that you might see reflected in your own business—

the reasons why QuickBooks may be failing your services organization:

1.QuickBooks is a simple general ledger solution that doesn’t support

your entire company.  Fast-growing services organizations need solutions

that can create efficiency and reduce headaches across functions, instead of

addressing only accounting and finance.

2.QuickBooks restricts your visibility into business performance.

Companies using QuickBooks usually have siloed applications and data,

making real-time analysis and accurate business decisions virtually impossible.

3.QuickBooks’ limited functionality won’t scale with your business.

Because QuickBooks was built to support a narrow scope of processes and

business offerings, it severely limits companies from expanding their offerings

or offering new methods of service and payment.

4. With QuickBooks, you always have to worry about IT issues and costs.

On-premise software like QuickBooks and the applications that surround it need

monitoring and troubleshooting by your IT team, and can drive up personnel

and infrastructure costs. 

Click Here to View or Download the NetSuite Whitepaper