Did Your Financials Software Help or Hinder Year-End Close?
Leap Day is a great time to take stock of your company’s accounting system. You’ve completed the year-end close and likely have survived the annual audit. While it’s still fresh in your mind, use this year’s “extra day” to consider whether your financial accounting software is meeting your growing company’s needs.
Three points of pain we see most often in companies who are looking for more robust accounting software:
Inability to scale
Basic accounting software might be OK for a start-up company. But as the company adds new products, gains news customers, and launches new markets, it demands more of its financials software. If the software can’t scale with the company’s growth, productivity suffers.
Lack of extended functionality
As a business evolves, accounting needs become more sophisticated. While an organization may start with simple financials it will eventually need more robust functionality. An enterprise accounting system should have robust functionality built in from the start – and it should be accessible with just a few clicks.
Inadequate financial reporting
Financial reports must provide a detailed and accurate view of a company’s financial performance. Having the ability to quickly create statistical and financial reports by department, by division, or across an entire organization is a critical element of managing growth. Being able to customize reports on the fly, run report templates for individual departments and divisions, and automatically distribute financial packages by email improves productivity and insight.
Taking time now to review your accounting software will put you on a more productive path in 2016.
