Make the switch:
From QuickBooks to NetSuite Financials

Why fast-growing software companies leave QuickBooks and adopt NetSuite Financials to accelerate growth

Common QuickBooks pain points:

It’s difficult to find out what’s really happening across the business in real-time. Most systems are designed for an era when companies could wait until the end of the month to get the data they need. That’s not the case today—consolidated views and up-to-the-minute reporting can make the difference between thriving and barely surviving.

Team members waste time playing “Hunt for the Spreadsheet.” Employees rely on spreadsheets to fill the information gap since data lives in so many disparate systems. People end up spending more time hunting for data than actually analyzing it and making decisions.

Financial consolidation takes ages. Cross-posting transactional data between systems is time-consuming and the finance team works late every month to consolidate financial reports. Yet, as hard as they work, weekly and monthly reports are delayed.

Sales forecasting and budgeting processes rely on guesswork, rather than facts. Since it is difficult to get historic information in the right format in a timely manner to do trend analysis, employees put figures in spreadsheets based on guesswork. Even though the actual data exists somewhere, it’s too hard to find and extract.

More accounting is done outside of the financial system than in it. Standalone financial systems are designed to automate a limited set of core accounting functions. As a result, it limits how companies can run their operations. As businesses grow, companies must adapt their processes to fit the application, rather than having a system that is flexible, scalable and will accommodate growth. It is easy to run out of headroom when companies have more customers, vendors or inventory items than many standalone financial systems can practically handle.

It is too difficult to add new sales channels, product lines or revenue streams. Every time there is a change in the business, staff must work overtime to figure out workarounds to accommodate it. Standalone financial systems do not have built-in support for everyday functions like making simple changes across matrix SKUs, adding new sales tax rates, or handing bill of materials, kits and assemblies for manufacturing inventory. Processes that cry out for automation have to be done manually or from spreadsheets.

“I’ve used eight different ERP systems—from SAP to QuickBooks Online. NetSuite is perfect. It’s not too complex, not too simple. It’s flexible and powerful, but still easy to use.”

-Gary Hornbeek
Corporate Controller, Quicken

Best practices for transitioning away from QuickBooks

As small businesses grow, it is clear that alternatives to QuickBooks are needed, but the path forward isn’t always well defined. Here are several best practices that can smooth the path to a better solution:

Consider a suite. Rather than perpetuating the “applications hairball” when replacing QuickBooks, many companies decide to adopt an integrated product suite. A suite platform eliminates the need to piece together different solutions. An integrated suite makes managing data much easier. Dual data entry is eliminated, since all information is stored in a single, centralized data repository. A suite solution enables companies to start with the basics and add complexity over time.

Take time to understand the business needs and key business requirements. Before selecting a solution to replace QuickBooks, be sure the organization understands its business and key business processes. Growing companies often believe they are saving money by not spending the time needed
to understand and capture the business requirements. Unfortunately, this can lead to building the wrong solution.

Hire a partner to help with data migration. Regardless of what platform a company adopts, it can be helpful to find a suitable partner who can help migrate data and perform checks and balances before the system goes live. This approach will ensure that the transition to a new system is consistent with business processes and objectives. When you choose Aspen as your partner, you are choosing a partner that engineers at the speed of business – we do it better, smarter, and faster.

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