NOT ENOUGH TIME
As companies grow or systems proliferate you can find there isn’t enough time in the day to get everything done. Your staff are working overtime, or catching up with the backlog at weekends. Simple manual workarounds become arduous as volumes increase. Reconciliations get ever more difficult. As efficiency declines, morale declines alongside it. Time for a rethink!
TOO LITTLE FLEXIBILITY
How often are management staff asking you urgently for a new report? As a business grows its complexity grows with it and it’s a struggle to keep up with the demand for management reports. When things are simple it’s easy enough to extract the data you need and restructure it in Excel, but this becomes exponentially more difficult and time-consuming as complexity increases. You can’t keep up with demand, and your management can’t manage without the reports they ask you for. Time for a rethink!
TOO MANY MANUAL PROCESSES
As demand for data and reporting increases, so your spreadsheets proliferate, along with the formulae and rules you use to provide the analysis that’s needed. Consistency is lost. And all sorts of ad-hoc spot solutions get developed to solve particular problems. Even separate databases in Access or other tools provide what’s needed. Your vulnerability to the know-how of particular staff, to the errors they might make, to failures of reconciliation, grows daily. Can you trust the vital management reports you eventually receive? Time for a rethink!
THE REPORTING HEADACHE
As your accounting system database grows it becomes an ever more valuable repository of data that’s useful for your company. But it’s one thing to possess ‘big data’, and it’s another thing to be able easily to use it. Your customers, suppliers, employees, the financial authorities, your corporate headquarter, and your operational management, all need reports, and their requirements change from day to day, as the operational environment of the business changes. The may come a time when your systems don’t allow you easily to build reports quickly and flexibly. Time for a rethink!
INTEGRATION - THE ACHILLES HEEL
Even the biggest companies with massive budgets and teams of specialist IT people know that no one business system can do everything for everybody. The lower you go in the application hierarchy the less and less any one system can do for you. Most companies quickly find themselves running a couple…a handful… a plethora of separate business applications to address their operational needs. Accounting, billing, procurement, payroll, HR, asset, project services, customer relationship, manufacturing, warehousing, distribution, budgeting, forecasting, management reporting – the list is endless. The accounting system is usually at the centre of this application universe. Sooner or later data needs to pass across the finance threshold. It is critically important that data integration is validated, verified and posted into the ledgers in an approved, efficient and timely manner. Small accounting systems struggle with the integration needs of such a real life environment. Time for a rethink!
THE CORPORATE AND GLOBAL CHALLENGES
Operating multiple independent entities brings extra challenges to the finance team, and you may need to handle inter-company and intra-company transactions. You also need to be able efficiently to produce good financial reports for each individual entity as well as a consolidated position. You may face the added complexities of joint-venture accounting. At just a day-to-day level, people may be frustrated, having to switch between separate databases for each entity or potentially separate installations of the system. Here lies the need to have a single solution that handles all the various entities of a complex or growing organisation. Time for a rethink!