This is probably one of the most tricky questions most small and mid-size businesses face at some point in time to use QuickBooks or invest in an ERP. This question may arise from the need if your organization is either stepping into new markets or experiencing exponential growth or facing some kind of complexity with the legacy software like Quickbooks.
To begin with, we need to understand that accounting and finance are the two important functions of any business. This is why; many organizations pick Quickbooks that looks after the accounting and finance needs of a business. But, are businesses only confined to accounting or managing financial transactions?
There is manufacturing, inventory, sales, planning, procurement, formulation, quality control (QC), regulatory compliance etc., to consider. And to manage all these functions, you need to have a robust and international-standard ERP in place. Quickbooks are incredibly good but ERP solutions are required to manage the entire business operations.
QuickBooks is essentially an accounting software, which allows businesses to manage invoices, pay bills, manage supplier bills and payments, purchase orders, generate different financial reports, and track all your finances on the go. A user-friendly system, QuickBooks helps businesses from the manual tasks to maintain tables and spreadsheets for accounting and financial tasks. So, all-in-all, Quickbooks remains a bookkeeping software to manage your accounting and financial tasks like a pro.
But, as mentioned earlier, managing financial transactions is not the sole purpose of a business. And, when we want to look at other aspects like formulation, R&D, regulatory compliance, QC, then QuickBooks software cannot handle all these areas of a business. This is where the need for ERP arises. A comprehensive and smart ERP can streamline all business processes and manage the different areas of business with greater precision and automate processes for better.
More benefits of using ERP over QuickBooks
A business typically faces an assortment of operational challenges. There’s a need to manage the ocean of data, deal with traceability and lot issues, automate batch sizing, manage recipe formulation, achieve accuracy in reporting, planning & scheduling, be GST compliant, and meet the diverse industry challenges head-on. To effectively deal with these challenges, business users need advanced and next-gen ERP software like SAP Business One.
With intelligent and affordable ERP like SAP Business One, it becomes relatively easy to store, retrieve formula and manage every production cycle and gain key insights into your business. Whether you are in a Pharma, retail, manufacturing, healthcare, trading, education, logistics, or any other industry, ERP helps you to meet ongoing day-to-day challenges and automate processes for maximum profitability and business sustainability.
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Still unsure whether to invest in an ERP or a bookkeeping software? You may ask one of the reliable ERP software partners in India. Before zeroing in ERP partner, check the level of partnership that it enjoys with that software. You may also dive deep and check their testimonials, references, success stories, and the number of ERP projects that they have carried out.