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Decision-making is an essential part of good business. In order to make better decisions, you need to have access over good information. Therefore it is wise to check the books before you make any important business decisions.

Unfortunately, when using entry-level accounting software like QuickBooks, the answers don’t come as easily or quickly as the questions. While you can draw financial data from QuickBooks, you still need details from procurement, manufacturing, and other departments to provide all of the information you need to move forward. Constantly going back to the books and your managers means you are looking backward more often than forward.

Quickbooks

Growing Pain #4: Looking Back isn’t Helping Your Business Move Forward

Making important decisions regarding your business can be a stressful task. We all want to make the right decisions and this can create a lot of anxiety. But to get ahead of the game, it is a necessity.

According to a 2012 survey by Information Week Enterprise Applications, 24% of businesses hope to develop and deliver innovate products and services. In order to achieve this forward thinking approach to business, you need access to critical business data in order to make the timely business decisions that drive growth. If you are unable to get your hands on detailed financial reports in real-time, then you never really know where your business stands. Are you making money or losing money? Is your profit margin high or are you just barely breaking even? You know you’ve outgrown QuickBooks when you’re so busy looking at reports focused on a backward view of your business that you don’t have time for planning and capitalizing on your future.

A comprehensive enterprise resource planning (ERP) solution like Microsoft Dynamics AX can turn your attention around. It will put all of your important data right at your fingertips without added complexity. With quick access to financial, manufacturing, inventory, and other key data in less time, and with greater accuracy, you won’t need to waste time calling managers or digging through the books. Powerful and personalized business intelligence makes it even easier to make the smart, quick decisions that drive growth. You can also spot trends with customers, suppliers, and internally that you can use to your advantage.

Joe Whitty, Controller at Amalfi Semiconductor says, With Microsoft Dynamics… we can grow our sales and operations based on real insights into the actual needs of customers. If we had to do it all over again, we’d make the same choice.”

With more insight, you can boost profit margins by sharpening your supply chain, improving productivity, and optimizing cash flow.  Outperform your competition by being the quickest to respond to customer needs, knowing what your customers will want or need before they do and still maintain the profit you need to grow strong.

The possibilities are endless when you can stop looking backward for data you need and use a robust business solution, consisting of Microsoft Dynamics, to move forward and take your business to the next level.

This blog series addresses some of the common signs businesses like yours are outgrowing QuickBooks and how Microsoft Dynamics AX is the business solution that helps keep you on the path of growth. If you missed the previous postings, you can view them here:

Growing Pain #1: The Rubber Bands Holding Your Business Together Are Keeping You Up at Night

Growing Pain #2: Managing the Books and Cash Flow Isn’t As Easy As It Used to Be

Growing Pain #3: A Lack of Control and Weak Audit Trails Create Business Risk

Download FREE eBook! Grow Your Business with Confidence A Guide for Businesses Outgrowing QuickBooks

Source: Microsoft

Topics: ERP