Is it time for a new financial management system? Evaluate your options.
Is your company struggling with outdated financial management and accounting systems? Many financial leaders find themselves trying to handle an increasingly complex and rapidly changing business environment with financial tools – like QuickBooks and Oracle – that predate the internet. If your accounting software is holding you back, it might be time for a new financial management system.
When the time comes for an upgrade, one of the first decisions to make is the delivery model that makes the most sense for your organization. An on-premise platform? A hosted solution? Or a cloud-based option? These six questions can help you decide if a cloud-based solution is the right one for your company.
1. Does my team need to work outside the office?
The ability to access information any time, from any location, is a key benefit of cloud-based solutions.
2. Do I need to increase productivity?
Cloud systems eliminate cumbersome processes like manual data entry and spreadsheet maintenance. They also speed up critical functions such as collections and period closings.
3. Does my financial system need to integrate with other applications?
Cloud-based systems integrate with each other easily, so that you can choose the best application for specific areas of your business.
4. Do my managers need better access to information?
One of the greatest benefits of cloud-based systems is real-time visibility of critical data. Custom dashboards mean your team can see the KPIs that are important to them.
5. Does my company struggle with inefficient processes?
Many of the solutions companies are using were never designed for today’s connected business environment – meaning that lack the flexibility and operational efficiencies a cloud-based platform can provide.
6. Do we need to compete with bigger businesses?
Even if your organization is small, a cloud-based financial management system allows you to take advantage of the same world-class infrastructure and leading technology that larger companies have access to.
If it’s time to upgrade your financial management system and you’re trying to decide if the cloud is right for you, download our ebook, 2019 Buyer’s Guide to Accounting and Financial Software, for guidance. It offers helpful tools and information, including a comparison of software delivery models, a basic evaluation checklist, what to look for in a cloud provider, and a list of critical elements for your service level agreement.
To find out more about MicroAccounting and our robust solutions, including Sage Intacct, call us today at 855-876-3773.