Keeping in step with the latest technology is the key to success in business today. If you use server-based software, you are undoubtedly familiar with updates. Even if you like your platform as it is, updating your software can serve as an upgrade. However, there comes a time when your software reaches its maximum capacity, and you have to use a different platform.

Some people don’t like migrating platforms because it means relearning systems or transferring large amounts of data. Sometimes, it also means a longer ramp-up time for the staff, which translates into lost productivity and a disrupted accounting workflow. How do you know, though, when it’s time to change?

Signs That It’s Time You Need to Switch to a New Practice Management Software

Here are things that can indicate its time to switch to a new practice management software:

    1. There are recurring issues with the computer system
    2. You’re not getting enough updates (or getting too many)
    3. Your practice has exceeded the capacity of your software

1. There Are Recurring Issues With The Computer System

If the computer reacts sluggishly to mouse clicks or has strange error signals, you have to determine if it’s time to change to a faster cloud-based platform. Recurring issues like these might mean your system is no longer compatible with the server-based software. Using a cloud-based platform solves this issue. As long as you have a good Internet connection, your devices can access the most up-to-date software from the developer.

2. You’re Not Getting Enough Updates (Or Are Getting Too Many)

It might seem like a good thing that you’re not getting too many updates. However, this could indicate that the software provider isn’t making any improvements to the product. At the very least, they have a backlog of updates and have not kept up with these. Lags in updates could be a security risk, especially for software that stores confidential information. Outdated software may have vulnerabilities that you might not be aware of, which puts your client’s confidential information at risk.

Meanwhile, you might have the opposite problem and get too many updates for your accounting practice management software. This could also cause a decline in productivity if you prioritize updates during work hours. If you are having issues with updates, switch to a cloud-based software platform where updates can occur in the background while you go about your normal activities.

3. Your Practice Has Exceeded The Capacity Of Your Software

Your accounting practice does not benefit from using an outdated server-based software platform. Aside from being a security risk, old systems might be unable to support your tasks as they evolve. If your customer base has new needs, or if you open a new practice, it could be challenging to track your workflow in the old system.

It is also tricky to transact with other firms, especially ones with all their workflow and data in the cloud. Migrating to a cloud-based system will make it easier for you to consolidate information with other practices, leading to faster processes for both companies.

Finally, client relationship management is easier if you have a cloud-based system. Updating client data, including billing information and the status of payments, is easier when you do it through digital channels. It also creates a more accessible experience for your clients and employees. One of the primary benefits of cloud-based software is not being tied to a physical location or desktop software that only works on the one computer it’s been installed on. Taking you practice management tools to the cloud removed those physical constraints.

Conclusion

The best software solution for your accounting practice is one that grows with your needs. Aside from providing all the necessary features, your software shouldn’t get in the way of you doing your job. If your work is slowing down because of the software you use, it might be time to make the switch.

Organize your accounting practice when you partner with Financial Cents. We provide an intuitive practice management software that takes care of everything from workflow and time tracking to capacity management. Start a free trial today or contact us for more information.