Quickbooks Online Advanced As A New Tier Of Cloud-Based Financial System
A growing business is usually faced with a choice between Quickbooks migration to another version and migrating to another system that is usually more complex, more rigid and more expensive. Migrating from one version to another may result to data transition problems and the need to learn new software.
According to Alex Chriss, senior vice president and chief product officer of Intuit, in addition to keeping existing customers of Quickbooks in the ecosystem, there is massive opportunity to bring in new-to-the-franchise customers who are migrating from solutions that were overbuilt for them. Examples of overbuilt solutions include entry-level ERP systems from vendors like Oracle, Microsoft and Sage.
Historically, there are several factors that will push customers of Quickbooks to move on and this includes the need for most users to have access to their financials or to gain more control over the access of users. In some instances, there is a need for a faster way to enter thousands of invoices into a system. It can also be a requirement for customized reporting or software integration.
Intuit wants to provide a solution to all these problems through Quickbooks Online Advanced, a new tier of cloud-based financial management system that can add support custom user permissions, bulk invoice import and priority consumer report. Functionality can be expanded through hundreds of Quickbooks compatible cloud services that are available through apps.com.
There are also enterprise tools like Expensify, Method CRM, bill payment service Bill.co, SOS inventory for inventory management, Jobber for field service management or Shopify for commerce. Additional tools include AI-based automation and recommendation tools that Intuit plans to expand in the coming months.
The online tools mentioned above draw inference from data that has been aggregated from Quickbooks 3.4 million users that power things like automation in identifying business expenses eligible for tax deductions or recommending applicable rates of sales tax based on natural language description of the items or services sold.
If you are going to switch platforms, QuickBooks migration can be done easily through correct software. Migration is simple because a team can help map out your field, collect data and transactions and build a custom connection between the old and new accounting platforms.