GROWING BUSINESS

Scaling smart: Tackling growth challenges for mid-market firms

5 min read
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As businesses grow, so do their challenges. Managing finances, staying compliant, and ensuring your team has the tools they need to succeed can feel overwhelming. 

Many mid-market firms can find themselves stuck between two extremes: entry-level accounting software that no longer meets their needs, and costly systems and tech stacks that can be complex to implement and maintain.

This gap in the market creates unique hurdles for businesses outgrowing their current tools but not ready to leap into enterprise-level solutions. And when scaling is on the cards, many firms enter a critical transition phase. 

Scaling is not always about expanding services and increasing their client portfolio, at its core, it can fundamentally change how firms operate. The traditional response has been to add more technology solutions, but this approach can show signs of strain. 

For many, this ends in inefficiencies, missed opportunities, and over-reliance on fragmented tech stacks. 

Untangling the complexity of systems and tech stacks 

The 2024 Intuit QuickBooks Accountant Technology Survey found that accountants and bookkeepers planned to increase spend on technology by 50% over the next 12 months. 

According to Deloitte’s 2024 financial results, the Big Four firm reported spending £135 million on technology in 2024 alone, underscoring how significant technology costs have become for the accounting sector.

As teams grow, these inefficiencies compound. Redundancies emerge as tools overlap in functionality, leading to wasted resources and fragmented systems causing data silos, requiring teams to manually consolidate information for reporting and analysis.

"As businesses grow and become more complex, they often end up with lots of third-party applications, leading to a growing tech stack, a growing bill, and more risk of mistakes," says Danny Wetherall, Mid-market Specialist at Intuit. "Simplifying these systems is not just about cost, it’s about reducing friction, inefficiency, and human error."

While the Enterprise Resource Planning (ERP) market has evolved to target mid-sized firms, implementation remains challenging with integration challenges particularly acute. Smart Transformation Solutions reports that only about 30% of ERP projects are completed on time and within budget, highlighting the complexities and resource strain involved.

Danny explains, "For many mid-market firms, ERP systems promise a lot but deliver complexity. Implementation timelines and costs often spiral, and the one-size-fits-all approach rarely aligns with how accounting firms work day-to-day. QuickBooks Advanced offers a more tailored solution without the heavy lifting."

ERP systems can also exacerbate tech stack sprawl. For example, AccountingWEB highlights that while digital transformation is essential, only 35% of accounting firms feel they have the right technology stack to support growth ambitions.

Instead of solving the problem, ERP systems often add complexity and financial strain to an already stretched tech environment.

Balancing tech and growth

Recent ICAEW research reveals that an overwhelming majority of mid-tier accountancy firms - 93% - are prioritising technology investments through 2027, highlighting the sector's push towards digital transformation.

The message is clear - firms need to evaluate their tools, identify inefficiencies, and ensure that their technology supports their ambitions without adding unnecessary costs or complexity.

Danny notes, "When your tech stack gets out of hand, it can feel like you’re working for the software instead of it working for you. Mid-market firms need solutions that streamline and scale without adding complexity - something designed to evolve with their needs, not something they’ll outgrow in a year."

"We see this challenge further compounded by firms when they switch to QuickBooks from larger ERP systems like Intact or NetSuite. Many businesses find themselves paying enterprise-scale prices while only using a small fraction of the software’s capabilities. This not only strains budgets but also adds unnecessary complexity to their operations."

QuickBooks Advanced bridges this gap, acting as the natural step for businesses scaling up. It provides the advanced functionality required to grow sustainably without the overwhelming costs and inefficiencies of enterprise-level software."

The solution lies not in accumulating more software or forcing enterprise-scale systems to fit, but in finding platforms that align with the specific needs of growing firms and becoming the partner for the future. An ideal solution needs to balance simplicity and power by offering a seamless path for those who have outgrown entry-level tools while avoiding the steep costs and complexity of full-scale ERP systems.

Why QuickBooks Advanced is the right solution for growing firms:

QuickBooks Advanced is the cloud-based accounting solution tailored for firms seeking a balance between usability and advanced functionality. With QuickBooks Advanced, businesses can tackle their growth challenges head-on by automating workflows, scaling effortlessly, and gaining deeper insights into their operations, all without breaking the bank.

QuickBooks Advanced is ideal for mid-market firms looking to:

  • Save time by automating repetitive tasks

  • Scale confidently without switching platforms

  • Make informed decisions with customisable insights

Take the next step

Growth is exciting but it doesn't have to be overwhelming. With QuickBooks Advanced, you can simplify your operations, empower your team, and focus on what you do best: growing your business.

Ready to experience the difference? Speak to one of our consultants today and discover how QuickBooks Advanced can transform your business.

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