Many Finance leaders are working with technologies and systems that are less than half as effective as they need to be. Your growing business may be held back by your current accounting system. Below, you will find three red flags that your accounting system has been pushed past its limits.
You’re Spending More and More Late Nights at the Office
When your company grows or seeks more insight from the numbers, there are two things that can happen. You can work harder to get the job done, or you can take steps to hand these jobs over to the machines. The former is going to mean more late nights at the office for you and your team—closing the books, crunching the numbers, and planning the next steps for the business. The latter means that you’re doing more with less.
If you keep leveraging manual, outdated, or too-small-for-its-own-good accounting software and are forcing your employees to make up for this, the next point is likely a reality too.
You’re Seeing Your Top Talent Looking at the Door
In the current business world, two things are true: Accounting and Finance Talent is in high demand, and top talent wants engaging, meaningful work. Unfortunately, when you rely on a manual accounting system, the work is neither engaging or meaningful. In turn, your top talent could have one foot out the door, ready to find somewhere better.
You’re Not Seeing the Big Picture
All of this leads to a worse problem—your business is not able to act on information fast enough to succeed. Without the people, processes, or technologies in place to get the job done, your business slowly falls into paralysis by analysis or worse—watching competitors thrive while you falter. As the business landscape changes, it’s important to take steps that get you closer to where you need to be—not further away.
Wipfli Presents: Signs You’ve Outgrown Your Accounting System
On Thursday, March 22, Wipfli will present a highly informative webinar on even more signs that your company has outgrown its current “solution.”
Join us from 2:00-3:00 PM EDT to hear from Brian Dietz, Partner at Wipfli, one of the top 20 accounting firms in the US, on common signs your business may be outgrowing its accounting system and how you can utilize cloud financial solutions to support and accelerate your growth. In addition, you will learn how you can harness the power of the cloud to:
- Provide real-time reporting
- Manage multiple entities, locations, and currencies
- Implement procure-to-pay and order-to-cash processes
- Access the system anytime, anywhere
- Reduce finance and IT costs through automation