By: Phillip Massey
Blog Series: Moving to the Next Level—Preparing for Life After QuickBooks (Post 3 of 5)
The workarounds you’ve developed have probably increased gradually, so it may come as a shock how many of these regular processes are the result of your system not being able to do the things you need. They’ve become ingrained in your day-to-day work and invisible out in the open. These workarounds are costing you money even if you aren’t cutting a check to get them done. And, these hidden costs are really quite expensive when you start adding them up.
The symptoms are as follows:
- Increasing over-reliance on paper-based, manual processes
- Solution silos: lack of integration between accounting and other mission-critical operations software
- Poor reporting due to inadequate data—which means poor insight into the business
- Increased manual effort to manage business processes
- A high dependency on Excel
- An inability to get the information you need, how and when you need it
- Reduced staff productivity from manual processes and workarounds for activities such as revenue recognition, billing, reporting and more
- Increased security risks, financial controls, and auditability
- Lack of scalability as you grow (e.g. users, entities, and data)
- If there’s more frustration than insight generated from the accounting system,—it’s time for a new one
Philip D. Massey, CPA is the Founder and President of Raleigh, NC-based Massey Consulting, Inc. Philip has been a CPA for nearly twenty years and worked in the accounting software side of the industry for seventeen of those years. After spending a few years working on tax returns, bookkeeping and audits, he decided his love for computers was greater than his love for traditional accounting. Over the years, Philip has worked on a few accounting packages, including QuickBooks, Sage, Microsoft Dynamics, SAP and Intacct. Currently, Massey Consulting specializes in cloud-based accounting solutions, although they certainly continue to support on-premise solutions as well. Philip currently resides in Youngsville, NC with his wife and daughter.