One of the most important factors in a growing business is making sure it has the systems needed to support expansion. Small businesses often try to work around the inadequacies of their existing systems to delay investing in a more appropriate system. When a small business pushes an accounting system beyond its limits it usually results in user frustrations and unreliable data.
So what are the signs you're starting to outgrow your software?
1. Everything takes too much time and there are too many errors.
- Data is being re-entered into different systems that don't connect, or worse, your business is relying on spreadsheets.
- Reporting takes too long.
- Errors are being made.
2. Everyone has poor visibility into the business.
- The right metrics aren't tracked.
- Data provided can't be trusted.
- Forecasting isn't available, so it's harder to plan for the future.
3. Everyone has a different version of the truth.
- Data can't be shared or accessed by the right people.
- Collaboration doesn't exist or is more difficult than it should be.
- Everyone takes longer to make decisions because they have different data.
4. No one has enough time to grow the business.
- It's difficult to build on a bad foundation.
- Time is spent on basic things instead of improvements and upgrades.
- Everyone has a workaround instead of focusing on streamlining the business.
5. The business is poorly equipped for business expansion.
- Information isn’t easily accessible
- It's difficult to consolidate financial information, especially for more than one site.
- Setting up new products and services is cumbersome.
Okay, here are 3 steps to get you started in the right direction.
1. Understand your core needs and engage a trusted advisor (consultant).
- Identify your business’ needs.
- Think which systems you need to connect--accounting, inventory, HR and payroll, sales, marketing, payments, etc.
- Have your trusted advisor (consultant) do a detailed Needs Analysis.
2. Stop doing business as usual.
- Eliminate unnecessary tasks.
- Delegate so you can make time to grow the business.
- Create incentives for quality, to help reduce errors.
3. Don't tackle everything at once.
- Do what's within your budget. Ideas to save money: subscriptions and software with add-on capability.
- Prioritize. Handle your biggest challenge and then move onto the next priority.
- Enlist your team. It takes everyone’s involvement to be successful.
Ready, Set, Go!
Change is hard. But not changing will be more expensive, through lost sales or poor service.
Integrated Data can assist you with your growth. Contact us for more information.
“Putting your vision to work with solutions that fit”