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Do You Have The Right Financial Accounting Software To Take Your Startup To The Next Level?

03 Jan

Do You Have The Right Financial Accounting Software To Take Your Startup To The Next Level?

by SMB Suite
in Managed IT, SMB Blog
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It’s been a few years now and your startup business is really starting to grow. Orders are coming in and several contracts with clients are taking off. So what’s holding you back?

For many medium-sized companies, one of the biggest inhibitors to success isn’t finding the right employees, leadership, distributors or substantial cash flow. For the most part, you already have those important assets. What you lack is the right technology to manage the financial workings of the company.

QuickBooks and Excel have worked fine for a while, but in order to take your startup business to the next level, you need powerful financial accounting software. Here are eight ways that having the right software for your company can help your business take off.

  1. Mature financial accounting helps to reduce mistakes created by human error: Using QuickBooks or spreadsheets to run your growing business is a bad idea, especially when it comes to tracking information about customers. The problem with spreadsheets is the manual data entry they require. Juggling multiple sets of QuickBooks for several parts of the company (or companies) also can lead to serious mistakes.
  2. Powerful software provides insight about customers, payables and receivables: These tools are functionally mature and have built-in best practices, which provide greater insights about the company. What do you need to do today to prepare for next quarter or next year? The software is able to help you answer such questions.
  3. Financial accounting tools help with self-auditing: These tools create auditing transactions and a paper trail. Even for businesses that make only a couple of million dollars each year, auditing is highly important. Using spreadsheets to manage your financial information will create challenges for this effort.
  4. Powerful software is agile and scalable: Accounting software is able to grow with you in both transaction volume and functionality. It gives a company a long runway for growth. Spreadsheet systems will often cripple the ability for a business to go to the next level.
  5. Accounting tools provide better access to a SQL Server Database: Leveraging a Microsoft SQL server is widely accepted because it provides access to your data anytime, anywhere. Spreadsheets, on the other hand, can become corrupted and must be manually consolidated.
  6. Mature financial software is able to add new features and modules that are specific for SMBs and are easy-to-upgrade: When you’re trying to grow fast, you don’t want to become bogged down in upgrades or be unable to do business because you’re too busy trying to get your system to work.
  7. Accounting tools have the lowest total cost of ownership (TCO): That’s because these services include the cost of upgrades, maintenance and support. There is no need for additional IT personnel.
  8. Some accounting tools are available with an online subscription model: Cloud-based tools are more manageable and require less capital because you’re less likely to have to write a huge check for something unexpected. Plus, when you have a manageable solution you’re able to budget against, you can avoid putting stress on cash flow or the ability to run the business.

Give your company the wings to reach the next level and stop relying on primitive accounting tools. Having the right financial accounting software is the key to successful growth.

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Steve’s been with SMB Suite since 1998 and has been involved with nearly every aspects of the Company’s business as a strategist, professional services executive, cloud solutions architect, and senior consultant. In his current role, Steve is responsible for SMB Suite’s revenue and oversees the execution of ERP, CRM and BI projects for customers across a broad range of industries. Steve combines his expertise in MS Dynamics GP, CRM and other Microsoft products with a strong foundation in accounting and business to identify gaps and streamline customers’ processes. Prior to co-founding SMB Suite, Steve was previously Corporate Controller for MEHLE Behr and, prior to that, Audit Senior for Ernst & Young. Steve holds a Bachelor of Business Administration degree from the University of Texas at Arlington.

Jeremy is responsible for SMB Suite’s technology vision, strategy and implementation and is the architect of the Company’s Dynamics Cloud Platform. Highly adept in every facet of managed services, ERP systems and e-commerce platforms, Jeremy’s expertise spans the implementation and support of business and financial software solutions, as well as the customization and integration of SMB Suite’s cloud ERP technology stack. He holds numerous Microsoft and industry-related certifications, and was primarily responsible for designing the Company’s progressive business services platform in the early days of the Cloud. Prior to SMB Suite, Jeremy served as the financial analyst, systems administrator, and information systems liaison for a $2 billion financial services corporation.

Monty is responsible for SMB Suite’s day-to-day operation and, most importantly, its customers. As a leader, motivator and mentor, Monty creates loyal high performance teams willing to “walk through walls” to accomplish their goals. Prior to SMB Suite, Monty served as President of The Bradshaw Group (TBG), a global distributor, manufacturer, and repair facility for digital printers. In this role, he was the Company’s ambassador to its most important domestic, European and Latin American customers and TBG achieved a best-in-class Net Promoter Score of 74 for its superb customer satisfaction. Prior to TBG, Monty served as the General Manager of Sam’s Clubs three highest grossing U.S. stores and was named Regional Operator of the Year in 1999. Monty holds a BBA in Marketing from Texas Tech University and is an active member of Business Navigators. He has been active in Vistage International, Executives in Action, the Dallas/Fort Worth Retail Executives Association, as well as, A.P.I.C.S., the leading professional association for supply chain and operations management. Monty also volunteers with Hunger Busters and ManeGait, a therapeutic horsemanship organization.

David is a proven financial and information technology professional with expertise in providing business accounting software and computing solutions. He began his career by starting and managing a successful independent consulting practice for several years. He then launched the local systems consulting unit of Ernst & Young’s Entrepreneurial Services Group, leading the office into the hi-tech consulting arena. After successfully developing the unit for Ernst & Young, David founded NextCorp (which became SMB Suite in 2013) to serve the business software needs of clients throughout the US. David has made SMB Suite one of the best cloud ERP providers in the industry. In addition to being a successful entrepreneur and leader, he is a software and technology specialist, holding certifications in various Microsoft and other technologies.