What are some indicators a business can use to know if they have outgrown their current financial application?
There are many growth-driven indicators – when multiple people need to have access to the financial system, when financial tasks need to be delegated, when dollar volumes become significant and when new offices are opened – it’s time to think about graduating to a more powerful system. There are also brick walls that require you to graduate – when you need to operate in more than one currency, when you have more than one business entity, if you need to work effectively from multiple locations or when you need to deal with specialized requirements like revenue recognition or managing the profitability and utilization of billable services personnel. Most businesses know when they’ve outgrown their application – what’s been holding them back is often that they didn’t used to have cost effective alternatives. They might have been paying a few hundred dollars per year for QuickBooks and would have faced a total annual cost of $100,000 or more to purchase, implement and operate a traditional
