We’ve said it before, and we’ll say it again一 QuickBooks is great for small, order-centric businesses, but your business will experience growing pains if you have a variety of billing models or recurring revenue.
At the time of its inception, QuickBooks was a dependable choice in helping companies get off the ground. The user-friendly financial software made it easy to understand why it was the preferred option for young companies. However, many businesses have now come to realize that their business is being limited by QuickBooks as their organizations grow.[Read more…] about Is Your Business Being Limited by QuickBooks?
Professional services firms are not behind the times in terms of technology. In fact, one survey showed that 95% of firms rely on best-of-breed technologies. But these firms are also not unique in struggling to use technology to the fullest.
The issue is that while individual capabilities may be strong, cross-functionality and interoperability are weak. Technology serves individual aspects of the enterprise but doesn’t extend across departments, data sets, or workflows. Consequently, tech tools cause as many problems as they solve. [Read more…] about Why Enterprise Technology is Essential to Professional Services Firms
The software industry is evolving away from a focus on on-premises software and towards a focus on SaaS offerings. Even companies that continue to provide on-premises options now often sell subscription-based services as well.
That evolution is distinctly important for CFOs because key metrics and performance benchmarks are changing as well. Traditionally, software CFOs looked at revenue, expenses, and profits to measure performance. And since sales figures are what drives the bottom line, the sales department led the way in revenue forecasting. [Read more…] about Software CFOs: Managing Metrics for Continued Success
There are lots of factors to consider when upgrading your accounting solution – cost, capability, complexity etc. But one feature that is non-negotiable is that your solution exists in a multi-tenant environment. This has become the leading option for forward-thinking firms, and it’s on the way to becoming an industry standard. [Read more…] about Multi-Tenancy – The Must-Have Feature of Modern Accounting Solutions
Financial data is your company’s greatest asset. As a result, it’s also your company’s biggest liability.
The global cost of cybercrime is projected to reach $6 trillion annually by 2021. In response, more than $1 trillion will be spent on cybersecurity between now and then. Hackers are highly motivated to go after financial data, and companies are scrambling to stay ahead of attacks.
The good news is that one of the most effective defenses is also one of the most affordable and accessible. [Read more…] about Why Two Factor Authentication is Now Mandatory for Accounting