4 Signs You Have Outgrown Your Finance System

Companies experiencing rapid expansion often reach a tipping point where the tools that have previously served them will no longer satisfy their evolving business needs. Many organizations start with entry-level tools, which work effectively in the early phases of the company’s growth. However, as a business expands, 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 will require more sophisticated financial management systems to meet your organization’s needs. Outdated financial systems can cause instability, erroneous data, and insufficient security, leading to decreased productivity, increased cost of ownership, and lost opportunities.

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

1. You have difficulties processing financial closing and accounting: Older systems often lose efficiency over time, making financial processes more time-consuming and labor-intensive.
2. You do not have a complete view of your business: With more complex data, legacy systems often struggle to combine information meaningfully, making it difficult for executives to make timely decisions.
3. You spend a lot of effort maintaining your systems: Aging systems require constant upkeep, consuming valuable resources and time. This results in an increased cost of ownership and an overall rise in operating expenses.
4. You have difficulties incorporating new compliance requirements: Companies frequently encounter new regulations and requirements that their older systems can no longer satisfy, putting the company at risk.

Aside from operational inefficiencies, legacy solutions often lack the robust security features growing companies require. This shortfall can expose your business to fraud, theft, and data breaches, severely affecting your company’s finances and reputation.

The SAP S/4HANA 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

You can get up and running quickly with a fixed 12-week timeline and cost-effective pricing. 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/4HANA Finance Bundle.