Integrating your accounting system with your B2B and B2C ordering platform has become a necessity for any company wishing to improve its operational efficiency and profitability. In particular, this integration enables business processes to be optimized, manual input errors to be reduced, and visibility of sales and inventory to be improved.
Here are the 4 main benefits:
Save time and reduce errors
Synchronizing sales data from your customer portal with your accounting system saves time and reduces data entry errors. Manual processes are avoided.
- Automation: Integration automates the transfer of data from the ordering platform to the accounting system, eliminating the need for tedious manual data entry. This reduces the data entry errors that can occur when manually entering online sales data into an accounting system.
- Automatic verification: automatically transferred data is automatically verified by the accounting system, reducing accounting errors. Errors can be easily identified and corrected before they cause bigger problems.
- Faster processing: Integration also speeds up data processing, as information can be processed more quickly when transferred automatically.
Better financial management
Sales data are automatically entered into the accounting system, facilitating invoicing and revenue recognition. As a result, companies can accurately monitor cash flows and make financial forecasts.
- Automated financial transactions: When a sale is made on the customer portal, transaction data can be automatically integrated into the accounting system, eliminating the need for manual data entry and reducing human error.
- Real-time inventory tracking: If the ordering platform is integrated with an inventory management system, this will enable real-time tracking of stock levels, so that orders can be processed faster and more efficiently.
- Reduced labor costs: This type of integration can reduce labor costs, as there will be no need for employees to perform accounting tasks.
- Accurate financial reporting: Financial data collected by the customer portal can be used to produce accurate and timely financial reports, which can help company executives make more informed decisions.
Better inventory management
Real-time sales data enables us to better anticipate inventory requirements and order the necessary products accordingly. It also helps control storage costs and reduce losses due to overstocking or underestimation of inventory requirements.
- Real-time updating: The integration enables stock and inventory levels to be updated in real time, based on sales made on the digital platform. This gives business owners an accurate, up-to-date view of their available inventory.
- Replenishment: It also tracks stock levels and triggers automatic replenishment alerts when a predefined threshold is reached. This reduces the risk of stock-outs, ensures continuous product availability and maintains good customer relations.
- Order management: Integration also enables better management of customer orders, as stock levels are automatically updated in real time, enabling rapid identification of available products and planning of deliveries accordingly.
Better decision-making
Finally, integrating an ordering platform with an accounting system facilitates informed decision-making. Accurate, real-time sales and inventory data enables companies to identify market trends. Decisions on business expansion or downsizing can thus be made with full knowledge of the facts.
- Data analysis: Integration enables the collection of precise data on sales, best-selling products, slow-selling products, returns, refunds, etc. This data can be used to analyze business performance and make informed decisions on inventory management, investments and marketing strategies.
- Easy access to financial information: The integration also facilitates access to financial information by bringing together sales data from the digital platform and accounting data in a single system. This enables business owners to quickly consult financial data and make informed decisions based on this information.
- Sales forecasting: It also enables more accurate sales forecasts. Collected sales data can be analyzed to forecast future sales trends, which can help business owners make informed decisions on stock levels, product orders and marketing strategies.
ATTENTION!
To make the connection possible, it's essential to choose an ordering platform that can be easily integrated with your accounting system. Your different systems must be compatible to enable efficient data synchronization. It's also important to ensure that data is well protected and that information security is guaranteed.
Some of the important features to consider are the availability of an API or connector for integration, ease of installation and configuration, quality of documentation and technical support, etc.
At dvore, all our solutions have an API. Our team can integrate your accounting system, your ERP, your CRM and even your marketing tools with your customer portal. Contact us for a quote!
