The old saying is, “If nobody moves, nobody gets hurt.” But that’s not true for business today. In fact, if you don’t move—change, innovate, accelerate—you may be at great risk of losing customers and losing ground to the competition.

Twenty years ago, organizations could perhaps afford more of a cautious, wait-and-see approach. But today, innovations such as cloud-based accounting systems deliver such powerful capabilities and extensive business benefits that failing to implement them can put your organization at a serious disadvantage.

What Are the Risks?

A report by IT consulting and advisory firm Saugatuck Technology, sponsored by Intacct Group, delves more deeply into this topic. The report, “Finance at a Crossroads: The Risks of Standing Still,” examines three types of risk of taking a “wait-and-see” approach to improving financial management systems:

  1. Finance effectiveness gaps: Will your existing systems and software enable you to achieve your management priorities?
  2. The shifting finance responsibility Footprint: Are there lapses in some business areas as finance struggles to do more with less?
  3. Digital success gaps: Is finance inhibiting business success because it can’t make data readily available, standardized, and ready for analysis?

Take the First Step

Implementing a new financial accounting system can seem overwhelming, but it doesn’t have to be.

First, select a proven solution like Sage Intacct cloud accounting software, the leading accounting software solution for businesses and nonprofits. The secure, cloud-based software is proven to streamline operations and provide deep visibility into real-time metrics. Plus, it can free your team members to spend more time focusing on mission-critical work and less time on mundane data entry and related tasks.

Second, choose an experienced firm like Michaud Accounting Solutions, with experts who can work with you to implement cloud-based accounting software and manage your financial operations.

You know the risks of standing still, so pick up the phone and talk with professionals who can discuss how best to move your organization forward.