QuickBooks Enterprise or an ERP: What Should You Choose for Your Business?
Every company, whether a startup, SMB, or an enterprise, needs some essential business functions to attain sustainable growth. These functions facilitate diverse business processes like sales, marketing, customer management, HR, and inventory management, among others.
What is ERP?
Nowadays, there are various software solutions that can integrate all your processes and offer a complete solution for your business. These are referred to as ERP or Enterprise Resource Planning software.
The ERP solution encompasses all the critical business functions in one package, so you do not need to install separate applications for each task and establish a system for information flow.
What is QuickBooks Enterprise Solution?
QuickBooks Enterprise Desktop is an accounting software by Intuit, meant to cater to the mid-size to large companies. It includes all the essential accounting functions like payroll, invoices, payment processing, receipts, and more.
It supports up to 40 users, which means that 40 employees can simultaneously work on the software. However, in addition to it, QuickBooks Enterprise also offer businesses with advanced features like –
Advanced Inventory: It offers you an integrated dashboard with an enhanced pick, pack, and ship options. It also includes features like barcode scanning so you can manage your inventory efficiently. You can also track serial numbers, lot numbers, and product movement with Advanced Inventory.
Advanced Reporting: With this feature, you can get the latest insights on finances, customers, sales, inventory, and more. Some of the diverse reports include Profit and loss, Cash flow, Income and Expenses, Job estimates, among many others.
Advanced Pricing: With this feature, you can set your pricing, customize it according to the current market situation. You can also automate the pricing by setting pricing rules, so you do not have to set them again and again.
Let us compare some of the common factors that differentiate between an ERP solution and QuickBooks Enterprise Desktop.
Scale of Business
An ERP solution contains a plethora of functions, comprising of all the business functions available. However, what you need to ask yourself is – Do you need all these functions for your business?
Hence, it is better to analyze your requirements and try to get the best solution with only the required features.
Generally, an ERP solution is well-suited for huge conglomerates with thousands of employees and an extensive client base. The big multinationals only can utilize their capabilities to the fullest, whereas the small and medium businesses do not need such an extensive feature set. Hence, by adopting an ERP solution, they usually end up paying more than they need.
On the other hand, QuickBooks Enterprise is the ideal business solution for small and medium businesses. It has all the essential business functions that a small business needs, but no complexities of an ERP solution.
The implementation of any software in your daily process requires the assistance of the local IT team. The IT needs to analyze the feasibility of the software with the existing IT infrastructure, plan an upgrade if needed, and set up the systems.
However, in the case of a complex ERP system, this scenario escalates even further. The ERP system generally requires the integration of all departments with a large number of users. Hence, the setup and deployment process is quite complicated.
Comparatively, the QuickBooks Desktop Enterprise software is an easy-to-deploy application. The IT team does not need to invest much time in setting up and installing the software. Moreover, QuickBooks Enterprise does not require high specifications. It can work on a system with –
- Window 8.1, Windows 10, Windows Server 2008, 2012, 2016, 2019
- Processor – 2.4 GHz
- RAM – 4 GB
- Storage – 2.5 GB, etc.
Another way of working on QuickBooks Desktop Enterprise is to host it on the cloud, which completely eliminates all the IT-related hassles as the cloud service provider takes care of it.
An ERP solution comprises of various complex functions, pertaining to all the processes of a company. Hence, it is an arduous task for the employees to get used to the ERP and all its features.
When you decide to implement an ERP solution for your business, it is your responsibility to train the employees well so that they can leverage the software to the maximum.
QuickBooks Enterprise Desktop, on the contrary, is an easy-to-use accounting solution. Most of the businesses already use some or the other versions of QuickBooks software for their accounting. The QuickBooks Enterprise has some additional modules which facilitate critical business tasks like procurement, sales, HR, etc.
Hence, it is easier for small businesses to start using the modules on the software they are already familiar with.
As already mentioned, an ERP solution is ideal for big multinational companies with a large workforce. Implementing an ERP solution can cost a company a significant part of its budget. Hence, for most small and medium businesses, adopting an ERP solution can be impractical.
For small businesses, QuickBooks Enterprise can be a more cost-efficient solution. It has a limited feature set as compared to an ERP solution but at an affordable price. Anyhow the small-scale businesses would not need all the features of an ERP.
Choosing the ideal business management solution depends on a variety of factors like the type and scale of business, budget considerations, workforce, clientele, and processes. Where an ERP solution is more complex and ideal for multinationals, QuickBooks Enterprise seems to be the best solution for small and medium businesses.
Want to know which solution is the best for your business? Connect with our Solutions Consultant at 855-223-4887.