When running a small business, owners are usually responsible for many tedious tasks, particularly for owners who only have small teams that also perform multiple tasks. As the owner, you need to be capable of delegating some of these tasks to key technology so that you’ll have time for growing your business and serving your customers better. Some of these could include cctv systems, project management software and bookkeeping tools.
One of the most efficient ways to accomplish this is to make sure that two of your business’s key tools, your accounting software and CRM, work seamlessly together. Most small business owners start managing their customer and financial data using standard spreadsheets. While this might work when you are just getting started, your operations could quickly outgrow this process.
As your business steadily scales and grows, your data and time become even more valuable. You will inevitably require a potent accounting system and CRM as your financial responsibilities expand, and you obtain new clients. But have these systems is not enough. You will need accounting and CRM tools that can function well together. Why? Take a look at the benefits below:
Reduce Potential Errors As Much As Possible
Most business data breaches typically result from human error. Focusing solely on managing your data with manual methods and keeping sensitive data in files that are not a hundred percent secure could expose your business to all sorts of security and financial risks.
On the other hand, by leveraging secure systems for processing and storing financial and client data for your business, you’re minimizing the time it takes for your team to process and input data, and reducing the possibility of costly and time-consuming mistakes.
Additionally, you can help ensure that your data is consistent and updated across all platforms when your accounting and customer relationship management tools work harmoniously.
More Streamlined Processes
When your CRM and accounting tools are linked together, you could easily and quickly create workflows and automation for streamlining your core business processes.
For instance, if a client of your CCTV systems business in Salt Lake City settle invoices via your accounting system that’s integrated into your CRM, the data from the invoices could be used for triggering a workflow to input relevant properties within your client’s contact record instantly.
Using this kind of automation, you and your team could have a clearer idea of clients’ payment records in a centralized place, without needing to do manual entry. Additionally, you will have the ability to generate and transmit invoices from your CRM, without switching back and forth between your accounting and CRM systems.
More Efficient Reporting Processes
Having all your financial and client information centralized could likewise streamline reporting processes. Since you won’t have to go looking for data in various systems and spreadsheets, you could easily make custom reports, placing all the data you require to operate your business when and where you require its use.
Improved External and Internal Communication
Integrating your CRM and accounting tools will also help you improve communication among you, your team, and your clients. This is especially helpful for businesses that have separate sales and finance teams; this integration could make communication and information sharing between these teams easier.
Likewise, since your financial data will be connected to client records, you’ll be able to send your customer’s targeted communications according to their payment history and status, resulting in improved customer experience.
Being able to bring in and monitor cash, as well as manage customer relations, are among the essential processes of small businesses. Optimizing these processes will also enable you to offer a better customer experience, in turn, positioning your business for scalability and growth.