- July 20, 2018
- Posted by: saenicsa
- Category: Uncategorized
In every business proper system integration – is a must! It is imperative that the different systems that you use to run your business work well together and give you accurate and meaningful information.
Even though there is effort and a modest cost involved, the end result definitively make the investment worthwhile. With cloud accounting software, this process and its implementation has been greatly simplified.
Just to clarify, systems are processes that you implement to maintain and run your business. For example, the processes to acquire and maintain clients, or to bill and receive fees, and handle suppliers, etc… are systems that you put into effect. They become integrated when they interact with each other.
As your business grows these system become more complicated and you need to decide whether to continue as you are implementing systems that are fairly rudimentary, repetitive and prone to errors, or to use technology to do them faster, more efficiently and better than your competition.
Cloud accounting software is a great at helping small businesses have integrated systems that help simplify business management and improve overall performance, at a very reasonable price.
Financial statements only show in monetary value the dollar amounts of what is on inventory at any given point in time.
As a business owner it is important to have this information, but unfortunately it isn’t enough. Other information such as, what are the items that need to be restocked, which items sell the best and what are my profit margins for inventory items is essential to know if you’re going to be successful.
Cloud accounting software helps you to integrate your accounting with inventory management applications to fulfill all of those needs and more. As an example, not only can you see what items need to be restocked, but you can also purchase them within the same application from your suppliers.
Your financial statements won’t tell you how many clients you have, or which ones are your most profitable and they definitely won’t help you communicate with them either. Cloud accounting software can easily integrate with CRM (Client Relationship Management) applications that will help you follow up with new clients, track billings and sometimes even email them.
Bank accounts can easily get out of hand and when they do, it can quickly become a tedious task to try and reconcile them. Since cloud accounting software easily integrates with bank and even merchant accounts, reconciling has never been easier. In fact, part of the process can be automated – all that is needed are the correct adjustments to be done.
The main idea of system integration is to simplify how your business is managed and reduce the overall workload by being able to take care of inventory, clients, bank account and so much more within one central place, the cloud.
In this article we discussed how cloud accounting software can help integrate many of your business’ systems. If you are interested in knowing more about cloud accounting and how your business can move to such a platform, feel free to contact us HERE to find out more. Not only can we assist you in transitioning to a new platform, but we can also guide you in choosing the best one for you.