“Accounting and financial professionals must begin to think in terms of underlying business management solutions, not just in terms of ‘accounting’ or ‘financial statement’ applications.”

Source: AICPA Journal of Accountancy Report May 2006

Many small businesses want to grow income while preserving profit margins. But doing so can be difficult without a full view of the entire business – from financials to customer relationships. And when companies are running accounting-only software like QuickBooks, and processes aren’t linked together, it can be difficult to determine just where to cut costs or when to expand into new markets.

Small and midsize businesses today are facing challenges that drive technology decisions. Today’s technology must:

– Provide fast access to accurate business information

– Be able to accommodate global transactions as our world gets smaller

– Keep up with the speed at which things happen in business today

– Help you be proactive – by helping you look forward

So when should companies make the move from an accounting-only application to a more true ERP? Based on discussions with hundreds of small businesses in the Midwest and having migrated companies from QuickBooks to SAP Business One — their guideposts for a move can be any combination of the following:

– The business is taking on more employees in roles such as sales, purchasing, inventory control

– The business has disparate sets of data, and is using spreadsheets to manage operational areas.

– The business is set to go public, and needs a system with more financial rigor than QuickBooks

– The business needs more robust inventory management software

– The business is preparing to offer online shopping as another sales channel and realizes the benefits of integrated eCommerce

– The business is expanding to multiple locations

– The business is going global and needs multi-currency capability

SAP Business One is a great next step in technology after low-end accounting only solutions like QuickBooks for many small to midsize companies. It isn’t for everybody, but it is a good fit for companies that are:

– Engaged in wholesale distribution, service, retail or light manufacturing

– Company has annual revenues between $5 to $100 million

– Company has employees between 1 and 100

SAP Business One software is a good next step as it helps these companies manage an entire business end-to-end across sales, customers, purchasing, inventory, operations, financials and HR functions in an integrated system. It is offered in on-premise deployment, or as a hosted or SaaS model.

Source by Andrea Vermurlen