Menu

News & Media

Top Three Pain Points For SMEs Outgrowing Accounting Software

By: Klugo Group04 May 2018 Klugo News, News, Thought Leadership

sme accounting software

This article was written by Brendan Laufenberg, SME Consultant, Klugo. 

As a specialist in cloud software for SMEs, I work daily to help growing companies evaluate the proven benefits of upgrading their internal software systems to a single, cloud-based business management platform.

Generally, there are three key factors that trigger this move.

1.   Multiple Software Packages and Databases

How does it happen?

As a small business grows, their requirements for different types of software to manage information increases. Over the years, owners often make multiple software purchase decisions and end up with five or six different software packages to manage CRM, Accounting, Marketing, Project Management etc. I regularly find that a huge number of spreadsheets are used to track and report on information that is not captured in the existing software packages.

What’s the impact on the business?

An enormous amount of time and effort is spent to aggregate data for reports, which over time also leads to inaccurate reporting.

2.   Multiple Accounts/Logins

How does it happen?

SME accounting software is designed to help a new business move away from spreadsheets to a more sophisticated system. At a certain point, it starts to make sense for a business to separate some of their operations from an accounting and entity ownership point of view. When this happens, most people set up multiple accounts of their accounting software for each company, which causes several back-office inefficiencies.

What’s the impact on the business?

In order to manage the new complexity, owners hire additional staff to handle the increased workload. Staff spend huge amounts of time not only logging in and out of different systems, but also correcting errors due to the wrong information being entered into the system.

3.   Duplication of Data Entry 

How does it happen? 

As there are so many different databases, staff spend a great deal of time updating different systems with the same information, or uploading and downloading information to share between systems.

What’s the impact on the business?

By continuing down the path of having multiple systems, owners can expect staff to be far less efficient in their ability to do their jobs, as well as needing to invest a lot of money in maintaining a fractured software cluster. This only gets worse as the business grows and time goes on.

My work is challenging and rewarding. I get to help small businesses evaluate their current systems, and find a genuine ROI in both time and money when they make the decision to upgrade to NetSuite for Small Business.

If your business experiences any of these issues and you’d like to find out more about possible solutions, please feel free to reach out – I’m always happy to have a discussion or grab a coffee.

Get in touch – [email protected]

Klugo Group Klugo is a software and professional services provider helping businesses transform by implementing NetSuite, the world’s #1 Cloud ERP solution.