An accounting software is a norm for all small and medium businesses today in India. Apart from providing functionalities such as managing bills and expenses, invoicing etc. such a software is also needs to be GST compatible. But what happens when a small business starts to grow and wants to organize itself in a manner that enhances its customer lifecycle value? Are the business owners putting in much of their time in manually managing different aspects of the business or important decisions are being taken with guesswork?
If these are questions that is also bothering you then it is time for an unified or integrated business system - a business operations platform system that can integrate your accounting software with the various aspects of a growing business like order management, inventory management or procurement management.
Once you have made the decision to integrate your accounting software with a business operations platform, what is the next step? You will look for a technology integrator. But before you start your discussions with such a partner, take a moment to understand what you want out of the integration. Here is a checklist to help you out –
One point to note here is that some platforms does not allow visibility in the different stages of business operations such as like in a multi-level production process. To take an example, the functionality to look out for would be to get real time visibility on the status of availability of raw materials, finished goods or production work-in-progress in the factory, warehouse, stores or client and vendor locations. So a best in class integrated system should provide these different stage visibility as well. This will offer better projections and enable optimum business decision-making leading to better ROI and revenue growth.
With this checklist of integrating and the resultant benefits, go ahead and integrate your accounting software with a robust Business Operations Platform!
In conclusion, you should look for a technology integrator who has industry and domain expertise to provide you with a platform that enables you to get the right visibility at the right time. Your business operations and accounting processes should work together seamlessly to provide you with the data sets that enables quick business decision-making and ultimately profitability and growth.
To understand how to integrate your financial and accounting software with a business operations platform, talk to one of our worxpert.
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