We recently conducted a survey to learn more about what business people experience when switching from one accounting software program to another. Of the respondents who had made the decision to switch software, 66% of them said they did so because they needed more advanced features. At Red Wing Software, we do find many customers need more robust features that can handle their accounting in a way that helps their business run more smoothly. Here are some of the most common features companies begin to need as they grow.
Manage multiple companies
Many of the basic accounting software programs put a limit in the number of companies/entities you can have and manage in your accounting software. This is fine at first, but as you grow, you may add companies and may want to manage and track their financial information separately. Many of these customers turn to Red Wing Software since our products offer the ability to set up and manage unlimited companies/entities. The ability to do reporting for one, all, or a combination of your companies which is often not found in more basic products , is another feature offered by Red Wing Software products.
Increased data capacity
If your system is getting bogged down, running slowly, crashing often, or simply performing poorly, you may be reaching that system’s data capacity. This is typical of basic systems after you have used them for some time. Many things can contribute to filling up a system’s data capacity: the number of transactions, inventory items, or even the amount of history stored in the system. Most basic systems place a finite limit on capacity of those items, cutting you off abruptly once that limit is reached. (For instance, you can only enter 20,000 inventory items or two years of history, etc.) Red Wing Software offers products that have unlimited storage capacity, where a finite number is not placed as a limit on any of those items. (Note: Please keep in mind that, although no finite limit is placed, hardware capacity may be reached someday, if used for long enough.)
What good is an accounting software system if you cannot pull out the information you want and need? The profitability of your business depends on it. Whatever information you were able to pull out at the start may not be enough for you, the management team, or third parties, such as banks, who are requesting information from you. The inability to get information the way you want or need it is a good sign you need a better accounting software program. Red Wing Software products do offer a wide range of standard reports, and also the ability to add, remove, and move around fields of information on reports. You can also name and save your reports in a list of favorites so they are easily accessible when you need them!
These are some of the most popular reasons we find companies turning to Red Wing Software products as they outgrow their older, more basic accounting software. There is a long list of reasons businesses outgrow their accounting software, and surely your reasons are unique. If you have outgrown your software and need something new, give us a call at 800-732-9464 or e-mail firstname.lastname@example.org.