Sure, QuickBooks is just fine for a small startup. It’s an easy, affordable tool for managing finances. But all businesses want to grow, and once your company racks up more clients and hires more accountants, QuickBooks becomes more of a hindrance than an asset. It simply doesn’t have the functionality and scalability to efficiently handle complex processes or many transactions.
Still, even as they experience their financial processes slowing down or start to lose track of their data and reports, a lot of small to mid-size manufacturers and distributors refuse to part with QuickBooks. They fear that they lack the time, money and technical prowess for a robust financial management system. Not the best strategy. By retaining their outdated system, these companies introduce risk into their processes and stunt their growth.
If you’re experiencing any of the three following problems, it’s time to ditch QuickBooks and move to Epicor ERP’s comprehensive, scalable financial management module.
Learn more about migrating from QuickBooks to ERP software by downloading our free white paper.
1. Slow Processes
QuickBooks isn’t built for the large mass of data that inevitably piles up as a business expands. When you overpower your QuickBooks system with data, you’ll find processes slowing down. Your users are waiting too long to get financial statements each month, bill clients and reconcile and balance books because your system is bogged down. Since there isn’t enough space in QuickBooks, employees are forced to make use of Excel and other methods, which means more manual data entry and more time spent searching for crucial documents. That’s in addition to constant data purges in QuickBooks, as you continuously surpass file size limits. As your supply chain becomes more complex and datasets expand, your old financial management system will hold your company back from achieving higher revenue.
Epicor ERP, on the other hand, offers automation and comprehensive functions to keep your financial management processes up to pace with your flourishing business. Epicor Financial Management offers real-time fiscal information and provides insight into every stage of your supply chain. With a centralized system, users enjoy faster response times and greater opportunities to cut costs and fulfill customer demands. Whereas QuickBooks can process a small amount of data, Epicor’s General Ledger is capable of handling unlimited financial books, making it the most flexible, scalable choice for developing businesses. Best of all, Epicor empowers users to easily find and organize the data they need, when they need it, no matter how many financial reports they’re handling.
2. Wasting Time on Manual Data Entry
Simply put, there’s too many advanced systems out there to continue wasting time on manual data entry. Manual data entry might be fine for a fledgling company handling very few transactions, but once those transactions grow, manual data entry in QuickBooks is not only time-consuming—it’s dangerous.
Since QuickBooks isn’t robust enough to process massive datasets, you’ll need to manually enter data into multiple systems. As your company expands to include several entities, users must also manually enter multi-company transactions. Every time users enter new data, risk is introduced into your system. Nobody’s perfect; even the most precise employees will slip up now and again and incorrectly enter data, potentially resulting in disaster.
Epicor Financial Management takes a lot of pressure off your users. The module automatically computes cost and revenue allocations and journal calculations to speed up your fiscal processes. This not only mitigates risk but also shortens close cycles and produces accurate statements.
3. Lack of Support for Global Sites
If you have your sights set on global expansion, don’t count on QuickBooks. QuickBooks can support small companies operating one warehouse location, but once you open additional sites, particularly if those sites are international, your business processes suffer. The system doesn’t enable organizations to easily track specific inventory or transactions. Furthermore, its insufficient audit trail capabilities put your business at risk of failing to comply with local, national and global taxes and regulations.
Constructed around unique global engines, Epicor Financial Management is created for today’s global marketplace. Epicor adds accounting agility while supporting both financial and legal compliance. While QuickBooks falls short in handling multiple currencies, Epicor offers Multicurrency Management to automate buying and selling in foreign currencies.
Wrap Up
For manufacturers undergoing any of the preceding issues, the time to upgrade to Epicor ERP is now. However, the ERP experts at Datix understand that smaller businesses may remain hesitant to take the plunge into such an advanced system. That’s why our consultants work closely with our clients to simplify implementations and help them meet their budgets. Our ERP experts have implemented software for over 20 years, making us well-versed in best practices. By teaming up with Datix, a certified Epicor Gold Partner, you can expect a successful go-live and higher ROI.
Whether you’re a small to mid-size business moving up from QuickBooks or an existing Epicor user seeking integrations and support for global expansion, Datix’s ERP consultants are here to serve your enterprise software needs. Contact us today for more information on our software solutions!
