Growth is integral to the success of any business. But as momentum increases, your business needs adaptable, scalable systems to keep up. As companies grow in size and complexity, they often reach an inflection point where they think they’re outgrowing QuickBooks and begin considering other solutions.
Opting for a higher–level software package might give the impression that you’ve leaped to the “big leagues,” but a higher level doesn’t always translate into higher value. Here, we’ll discuss some of the considerable downsides to switching to an ERP and ways you can significantly increase the lifespan of your QuickBooks solution. Consider these reasons that favor staying loyal to QuickBooks.
Optimizing QuickBooks vs. Upgrading to ERPs
QuickBooks is the accounting software of choice for more than 29 million small businesses in the U.S., with a diverse product offering suited to help both small businesses (QuickBooks Online), larger growing companies (QuickBooks Enterprise), and everything in between (QuickBooks Pro, QuickBooks Premier).
Oracle’s NetSuite and SAP are two more robust enterprise resource planning (ERP) systems that larger businesses frequently investigate. This software comes with increased functionality, a hefty price tag, and sometimes a six-month or longer conversion cycle.
That’s why our straightforward encouragement to our clients is to stay in QuickBooks and maximize their existing software as long as possible. In fact, you can continue utilizing QuickBooks by optimizing the software to meet your business to the fullest extent.
7 Factors That Prevent Your Business from Outgrowing QuickBooks
Here’s how QuickBooks works with business growth, not against it.
1. QuickBooks Enterprise Is Scalable
As your company grows, so does the size of its back–office team. This is where QuickBooks’ scalable architecture comes in. With over 10,000 QuickBooks engagements under our belt, we’ve seen businesses successfully use QuickBooks for up to $50M in annual revenue.
QuickBooks’ robust suite of features functions within a flexible platform that adapts to the evolving needs of enterprises, big and small. The software seamlessly accommodates growing operations without sacrificing efficiency. You can expand your financial management capabilities, ensuring a smooth transition toward increased transactions, users, and data.
As your company expands, concerns about security and permission levels also naturally arise. QuickBooks addresses these issues with intricate permission settings to help regulate access to specific data and facilitate team expansion without compromising data integrity.
Although you may worry you are outgrowing QuickBooks, consider its potential for expansion. You can accommodate a growing team while ensuring advanced security measures by activating a few more settings and reviewing permission levels.
Where QuickBooks Consulting Comes In
At Fourlane, we’ve performed workarounds to help businesses that need more than 30 active users, leveraging the expertise of a specialized custom programming team outside what Intuit can provide.
Additionally, we can perform condenses and summary conversions on QuickBooks files that are becoming too large or unwieldy. This process involves the removal of long-past transactions, old customers, or discontinued products to a separate, dormant file to free up valuable space and increase speed and efficiency.
2. QuickBooks Enterprise Has Industry-Specific Solutions
A common reason that a company might feel they’re outgrowing QuickBooks is the desire to add more tools or fulfill specific industry requirements. This motive can prompt businesses toward other solutions.
However, industry-specific accounting and ERP systems often suffer from inadequate documentation and infrequent updates. These systems can also make hiring difficult, as the company must train staff on a niche system rather than a cross-industry standard.
Fortunately, QuickBooks offers industry-specific solutions tailored to the needs of varied business sectors.
QuickBooks Enterprise has solutions that meet the needs of:
These industry-specific solutions include all the functionality of QuickBooks Enterprise but with specific features and reports unique to the industry.
Where QuickBooks Consulting Comes In
Fourlane can step in to help leverage QuickBooks Enterprise tools when your company has industry-specific needs. We can assess your unique business requirements, evaluate the efficiency of regularly used existing QuickBooks tools, offer expert software insights, and help develop a solution implementation strategy that aligns with your industry’s standards better.
3. QuickBooks Enterprise Integrates Seamlessly with Many Other Systems
Most companies use more than one piece of software for various essential business functions. Integrating these systems saves time and money, removes duplication of effort, and eliminates opportunities for errors.
For companies relying on various tools to manage crucial business functions, QuickBooks Enterprise goes beyond standalone capabilities to offer seamless integration with diverse systems.
This capability offers numerous advantages. First, it eliminates manual data entry and toggling between disparate systems—crucial for businesses seeking streamlined workflows. You can minimize redundant tasks, reducing the risk of errors to enhance overall accuracy in data management.
Where QuickBooks Consulting Comes In
QuickBooks has a semi-open API but very little documentation. In addition to setup, file review and repair, and training, we focus on two critical tasks: workflow design and custom programming. We employ a team of custom programmers who can integrate QuickBooks Enterprise with virtually any product with an open API. Products include CRM and sales systems, proprietary software, and project management solutions.
Although these integrations are an initial capital expense, they provide incredible short- and long-term value. Integrations remove administrative tasks that may take up valuable staff time and offer opportunities for better insight into your financial data for a clearer view of how different departments impact each other.
4. Existing QuickBooks Enterprise Systems Conserve Departmental Resources
The preservation of resources is particularly crucial for businesses stretched due to rapid growth or multitasking demands. Rather than invest in an extensive time commitment by transitioning to a new ERP system, an existing QuickBooks Enterprise infrastructure is a strategic ally in preserving valuable time, energy, and human resources.
Why? Switching to a robust ERP system typically takes at least six months. During that time, your staff would need to enter every figure twice—once in the old system and once in the new one. If you’re growing quickly enough to feel you’re outgrowing QuickBooks, it’s likely that your staff is already stretched thin and may be filling multiple roles. You could spend these precious hours helping customers and fostering business growth.
The complexity of a higher-level system also requires additional staff to manage, including building your system and workflows, migrating the data, and training your team. Typically, a consultant from the new system’s staff handles these tasks. Many companies even hire an extra external consultant on retainer for ongoing support and advice.
You’ll not only pay for these additional consultants but also need someone on the team to serve as the point person. Each department must review proposed workflows, click through every new system screen, and report any bugs. You’ll also need to dedicate time to training and updating all documentation to reflect the new system processes.
If reasonably dedicating roughly 1,500 hours of your team’s time to the conversion project seems challenging, we recommend staying in your current system a bit longer.
Where QuickBooks Consulting Comes In
Fourlane can ensure that existing QuickBooks Enterprise systems effectively conserve departmental resources. When departments face challenges or require specialized guidance, our consultants step in to troubleshoot issues, provide advice, and contribute to the overall optimization of the QuickBooks Enterprise setup.
This capability allows your business to tap into external expertise without burdening internal teams, freeing departmental resources for efficient use within the existing framework.
5. QuickBooks Enterprise Has a Large Data Capacity
As businesses grow, so does the volume of financial transactions and operational data. For companies dealing with large amounts of information, storing, managing, and analyzing all that data—without compromising performance—is essential. QuickBooks Enterprise boasts a substantial data capacity.
QuickBooks Enterprise handles larger data file sizes if you’ve configured the system correctly. The system allows tracking of up to a million vendors, customers, inventory items, and employees. This capability is sufficient for most mid-sized businesses and even meets the needs of departments within some Fortune 1000 companies.
Many users think they’re outgrowing QuickBooks when, in reality, they haven’t even come close to the maximum number of data points. The expertise of QuickBooks consulting can step in here to help.
Where QuickBooks Consulting Comes In
The perceived sluggishness or problems users encounter often stem from improper setup or poor environment, such as insufficient room on the hosting computer, rather than the actual limitations of QuickBooks. QuickBooks consulting can assess the existing setup, identify potential bottlenecks, and optimize the system for enhanced performance.
Rather than attribute problems to the software, Fourlane facilitates a more suitable environment for QuickBooks to handle the required data points. Consultants address configuration issues to ensure a better user experience, maximizing the software’s full potential.
6. QuickBooks Enterprise Offers Advanced Reporting
Business growth calls for financial reporting that empowers businesses to glean deeper insights into their financial data. An in-depth examination of critical performance indicators aids businesses in making informed decisions. Fortunately, QuickBooks Enterprise offers diverse customizable reports for comprehensive financial analysis.
Beyond basic reporting, industry-specific reports and sample-based financial reports are available in QuickBooks Enterprise. The new Advanced Reporting feature allows your staff to create a wide array of reports, including interactive dashboards for a better end-user experience and easy Snapshots into the data that drives your business. You can customize reports or use the report consolidation tool to combine reports across multiple company files.
Where QuickBooks Consulting Comes In
Advanced Reporting can be challenging to learn and set up. The Intuit support team has minimal training in Advanced Reporting. Users may find it tough to harness its full potential without proper guidance.
We recommend working with an expert to implement Advanced Reporting and ensure correct data tracking. Fourlane offers assistance in learning and setting up Advanced Reporting, helping businesses maximize tool benefits and transform complex data into actionable insights. Consultants can also tailor assistance to address specific business needs, making Advanced Reporting a valuable asset rather than a daunting challenge.
7. QuickBooks Enterprise Tracks Inventory in Multiple Locations
Many companies perceive themselves as outgrowing QuickBooks when they open a new location. However, QuickBooks Enterprise stands out for efficiently managing inventory across multiple locations. The Advanced Inventory module for QuickBooks Enterprise Platinum allows businesses to:
- Track inventory in various locations and by bin location
- Track serialization and lots
- Keep inventory valued using FIFO costing and use barcoding capabilities
- Work with third-party inventory systems that connect with QuickBooks should you have additional requirements
The chart below illustrates that QuickBooks Enterprise features compare favorably to other ERPs. However, Quickbooks holds the advantage of minimal conversion, decreased training time, and a lower price tag:
| QuickBooks Enterprise | Large accounting software products | |
|---|---|---|
| Simple to convert | X | |
| Minimal staff training | X | |
| Needs additional staff to manage | X* | |
| Lower cost option | X | |
| Scalable to your needs | X | X |
| Handles data files of more than 1 gig | X | X |
| Offers industry and need-specific modules at an additional cost. | X | X |
| Allows customization and integration of other software products such as CRMs and proprietary tools. | X | X |
| Offers robust reporting tools | X | X |
*Potentially
Where QuickBooks Consulting Comes In
Fourlane can help your company configure the QuickBooks system to effectively manage inventory in diverse settings, ensuring more accurate tracking and seamless coordination between locations. Our consultants offer insights into best practices for multi-location inventory management. These specialists can also contribute to staff training to help teams understand how to leverage these features properly.
Do You Still Think You’re Outgrowing QuickBooks?
If you’re still uncertain whether you’re genuinely outgrowing QuickBooks, consider reaching out for expert guidance. Fourlane can help detect missing opportunities in your current software or determine if it’s time for an upgrade. With over 10,000 accounting software implementations under our belt, we can guide an assessment of your existing software’s capabilities.
This isn’t to say that it’s never the appropriate time to leave QuickBooks behind. If you need the features of a full CRM and ERP at your fingertips, another option might be best. Fourlane can help you make that determination.
Our team specializes in unbiased advice to see which product best fits your business. We can also help determine the ROI of an upgrade. Reach out today for a free consultation and gain valuable insights into optimizing QuickBooks for continued success.
I would have to disagree. QuickBooks does not work well for service industry companies that need to handle transactions on the field. It did. But for the online version, the decided to eliminate key functions that simplified it’s mobile usage. A simple 2 step process on an android device now requires roughly 7 steps and the additional use of a computer and separate app (GoPayment) to process. And I might add that process can also prevent the usage of the card reader in the field causing further expense to the contractor.
Another issue with QuickBooks is they NEVER consult with the users to see which features are important to them. Without the simplicity of the mention process and its mobility, QuickBooks is now useless to us. We now have the daunting task of finding a system that works and then of course the process of migration. Yeah QuickBooks (said no one ever…