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Issue link: https://read.uberflip.com/i/909385
Have You Outgrown Your Old Accounting System? 7 Sign No. 4: New Business Requirements and Regulatory Compliance Are Difficult Obstacles To keep up with customer demands and expectations, many businesses are experimenting with new revenue models and alternative business structures� One of the most important new developments is the subscription business model, which is increasingly popular across many industries from so ware to services. However, that's placing new demands on finance, because the billing and revenue-recognition requirements for subscription businesses are more complex� Is Your Accounting System Failing You? Unfortunately when your traditional, outdated accounting system was implemented, these new requirements and rules didn't exist. A empting to bolt on or retrofit support for these sweeping changes is either painful, expensive—or impossible—because your accounting system, was never intended to do so� The result: You're forced to use manual processes (and countless rogue spreadsheets) to support these new ways of doing business. And as any finance pro can tell you—that's an open door to increased audit risks and billing errors� The Savvy Evaluator: Test your cloud accounting vendor's track record� Ask about the most recent product innovations that ma er to you. What Best-In-Class Cloud Financial Management Solution Offers A best-in-class cloud financial management solution should adapt with your business as it changes by le ing you: • Quickly add new capabilities made available by rapid vendor innovation. • Deploy new capabilities without rewriting customizations or integrations. • Support flexible subscription models that let you buy what you need as you need it. of those who reported prior difficulties adapting so ware to new business requirements report that they wish they had switched to Sage Intacct sooner. 88%