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4 Signs You Have Outgrown Your Finance System

Companies that are experiencing rapid expansion often reach a tipping point where the tools that have previously served them well no longer satisfy their evolving business needs. Many organizations start out with entry-level tools, which work effectively in the early phases of the company’s growth. But as business continues to expand, these tools no longer perform at optimal levels or make it difficult to get a complete view of the organization.

As your company grows, you require more sophisticated financial management systems that can keep pace with your organization’s needs. Outdated financial systems can cause instability, erroneous data, insufficient security, leading to decreased productivity, increased cost of ownership, and lost opportunities.

Is your finance system giving you what you need? Here are 4 signs you have outgrown it:

  1. You have difficulties processing financial closing and accounting: Over time, older systems often lose efficiency, making it more time-consuming and labor-intensive to handle financial processes.
  2. You don’t have a complete view of your business: With more complex data, legacy system often struggle to pull together information in a meaningful way, making it difficult for executives to make timely decisions.
  3. You spend a lot of effort maintaining your systems: Aging systems require constant upkeep tying up valuable resources and time. This results in increased cost of ownership and an overall rise in operating costs.
  4. You have difficulties incorporating new compliance requirements: Companies are constantly introduced to new regulations and requirements that older systems can no longer satisfy, putting the company at a risk.

Aside from operational inefficiencies, legacy solutions often lack the robust security features required by growing companies. This can expose your business to fraud, theft, and data breaches, all of which can have severe consequences for your company’s finances and reputation.

The SAP S/4 HANA Finance Bundle delivered by Argano provides a comprehensive, affordable financial solution for organizations that have outgrown their existing tools. Modernizing your financial system allows you to eliminate the inefficiencies you are experiencing today by streamlining your financial processes.

With S/4HANA you can:

  • Centralize and streamline your accounting processes
  • Automate critical tasks
  • Speed up period-end closing
  • Deliver more accurate forecasting
  • Gain deeper, faster insight into your cash forecasting
  • Lower your cost of ownership

With a fixed 12-week timeline and cost-effective pricing, you can get up and running quickly. Leverage a proven platform and technology solution, delivered by Argano experts, and build the foundation for continued growth and success. Are you looking to upgrade to a more advanced financial management system? Learn more about Argano’s SAP S/4 HANA Finance Bundle.