When your operations are small, stand-alone accounting software like QuickBooks works well. However, as your business grows, its limitations hold back your operations. For example, QuickBooks has limited reporting and analytics, only light inventory capabilities, and no purchasing and procurement.
OptiProERP with SAP Business One vs. QuickBooks
You may add other systems to handle functionality, like CRM or Project Management. If so, you end up with disparate systems that aren’t working together. That leaves information gaps and a lack of collaboration between staff.
No coordination between departments hurts productivity, increases errors, and you’ll struggle to understand your business as you scale. Costs are more significant due to inaccuracies, inefficiencies, and business complexities. It becomes hard to make good decisions since you can’t understand what is happening within the business.
It gets even more complex as a manufacturer because you must maintain production schedules and ensure quality products. In addition, you need the right resources to deliver on time so you don’t hurt your business reputation and lose customers.
OptiProERP is Enterprise Resource Planning (ERP) software for manufacturing. It extends the SAP Business One platform, the leader in business management ERP for SMEs. Like QuickBooks, it manages accounting processes and provides full integration and end-to-end functionality. Let’s take a look at both OptiProERP and QuickBooks to gain an understanding of their differences in finances and other operational considerations.
OptiProERP with SAP Business One Overview
OptiProERP with SAP Business One has all the functionality a growing manufacturing business needs. It streamlines business processes across the organization to increase productivity. It connects the enterprise for real-time transparency and greater employee collaboration. OptiProERP with SAP Business One provides deep insight into what is happening in the organization for fast and informed decisions. You can leverage production data to forecast demand and keep your deliveries on time.
As your business expands, it gets more complex. It needs technology that can manage its operations. OptiProERP with SAP Business One helps manufacturers address customer needs faster. It provides process automation for faster workflow, fewer errors, and reduced costs. Managers can track revenues, expenses, and cash flow. They can recognize new opportunities and pivot fast to stay competitive and profitable.
QuickBooks Overview
QuickBooks focuses on handling basic accounting and is perfect for starting a business. It does not support inventory management, purchasing, and production. For manufacturers, these directly affect their top and bottom lines. Growing manufacturers using QuickBooks often have to rely on spreadsheets and manual processes. Both are labor-intensive and error-prone.
Since QuickBooks is an accounting system, it does not offer data from other parts of the organization. This makes it difficult to achieve any business intelligence. It is easier to understand inventory needs by connecting to the shop floor. It also has limitations with file size, data, and the number of users. QuickBooks isn’t built for a growing manufacturing business. It simply lacks the industry-specific tools to support its operational needs.
OptiProERP with SAP Business One vs. QuickBooks
OptiProERP vs. QuickBooks
As mentioned before, QuickBooks works well for smaller businesses. It handles accounting, payroll, order management, light inventory, and basic reporting. Beyond that, it doesn’t provide the functionality a growing manufacturing business needs. Let’s examine some key components to see how the two software solutions differ.
Integration and Completeness
QuickBooks is a standalone system that can integrate with some third-party applications. The problem is that these connected systems all have different databases. So, you can’t get accurate and real-time information. IT must ensure the others are unaffected if you need to update one system. In addition, manufacturers have complex inventory needs, and QuickBooks provides only basic functionality and no lot tracking. Controlling inventory is essential to keep costs down and have visibility to trends.
OptiProERP with SAP Business One integrates your entire organization. It eliminates redundancy and lets you see your safety stock, re-order points, cycle counts, and what you need to meet demand in real-time. Goods receipts synchronize to inventory levels, and purchasing gets notified. Inventory gets kept at the lowest possible levels to reduce costs and waste and free up storage. Production gets streamlined for on-time deliveries. Inventory is tracked; you can know shelf life, expirations, and non-conforming materials. Pick, pack, and order staging gets automated and finds stock in warehouses and bins. Quality is managed to meet industry and government regulations.
“Inventory is a big chunk of our business model that we have to manage, and QuickBooks would often get out of sync. It was extremely difficult to find where things got out of whack and almost impossible to work that out.”
– Brad Stevens, CFO and Director of Operations, Serious Integrated, Inc.
Productivity
Having efficient and productive operations is essential to a growing business. With QuickBooks, you have limited reports, and it becomes necessary to use spreadsheets for analysis. It takes time to pull the information together, and it can be error-prone. Since QuickBooks is standalone accounting software, departments have no data flow. Everyone works in silos, and there is redundancy. This hurts collaboration and efficiency.
OptiProERP with SAP Business One integrates operations across the business. Everyone works from the same database, so there is a single version of the truth. Processes flow smoothly across departments. There is real-time synchronization of goods receipts and inventory levels to inform purchasing. Staff can easily communicate and collaborate. It provides advanced manufacturing and supply chain management capabilities. Industry best practices get used to help growing businesses optimize. Workflow gets automated for better productivity, greater accuracy, and reduced costs.
Insight
As mentioned, QuickBooks doesn’t provide integration across departments, making it difficult to know what is happening in different business areas. For example, in manufacturing, it’s essential to have visibility to production, inventory, and the supply chain. You want to understand trends and be able to predict demand. Not having insight into what is happening within the business is very limiting. It makes it difficult for managers to make informed decisions.
OptiProERP with SAP Business One gives you a 360-degree enterprise-wide view. Every part of operations works seamlessly together, so there is clarity about data. It lets you see what is happening with orders, production, the supply chain, deliveries, inventory, etc. To grow and compete, you need to spot problems and opportunities. OptiProERP with SAP Business One has customizable dashboards that provide updates on KPIs. Complex reports are generated for quick insight. Historical data can show trends, and forecasts can be created. These are all key to helping your manufacturing business grow and profit.
Agility
Since QuickBooks is a stand-alone system, it doesn’t allow you to forecast demand. In addition, it isn’t connected to other parts of the business, such as production and sales, to help you see future scenarios. As a result, there isn’t insight into business operations, and it can’t help to optimize workflow. Without good visibility into what is happening with the company, it’s challenging to be competitive and profitable. However, it is also hard to work at peak efficiency when you lack the necessary tools.
OptiProERP with SAP Business One helps companies be agile with information at their fingertips. Managers can quickly drill down to get needed answers to critical business questions. They can react fast to changes in demand. Revenues, costs, and cash flow get tracked. Performance can easily be assessed and addressed as needed.
You can adapt OptiProERP with SAP Business One to suit your manufacturing business needs. The system can be configured to fit the way you need to work. It also provides best industry practices to help you streamline processes. The system is designed to scale with your business. It has innovative technology to support your business processes and supports 28 languages and 44 countries if you want to expand globally. In addition, it offers mobile access so workers can retrieve business data while on the move. These features help your manufacturing company be more productive, make better decisions, improve profitability, and quickly adjust to change.
Business Intelligence
As the size of your business increases, you’ll need more robust financials. Having an accurate view of your business at any time is essential. You need to be able to dig deeper into data to have a good understanding of complex information. QuickBooks can’t provide this due to its limitations with connectivity to other parts of the business. It also wasn’t designed to provide deep insight into a growing business. It lacks real-time business data or company-wide forecasting to help management make decisions.
OptiProERP with SAP Business One has intuitive dashboards that show the real-time status of business operations. When creating reports, you can drag, relate, and drill down to find your desired information. Sales performance gets tracked, and critical indicators can be predefined to increase performance. In addition, OptiProERP includes the widespread Crystal Reports to provide insightful information. You can use them to position your organization for a more competitive advantage. You need everything at your fingertips to stay informed and gain perspective for intelligent decisions.
Why OptiProERP with SAP Business One Is Your Best Choice
As your business grows in scope, your employees must have the tools they need to perform tasks efficiently. OptiProERP with SAP Business One improves collaboration, automates processes, and streamlines workflow. All this lets staff move away from tedious tasks and focus on more strategic ones. In addition, with OptiProERP with SAP Business One, manual entry gets reduced for greater accuracy. For example, you no longer have to rely on time-consuming and error-prone spreadsheets to create reports like depreciation and amortization. As a result, month-end closing is faster and easier.
If you use QuickBooks and add on other applications, you’ll always have to work with information from different systems. It’s challenging to manage and takes more human resources to get the data needed, and there is concern over its accuracy. You must ask yourself, how do you see your company growing, and what will your organization need? Think 5 to 10 years down the road, and if you see QuickBooks able to provide the resources you’ll need.
See OptiProERP with SAP Business One in Action
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