3 + 1 Benefits of CRM and Accounting Software Integration

Accounting systems sometimes display different data than your customer relationship management (CRM) system, and you waste valuable time trying to find the differences.

If this describes your situation, you probably should have implemented a CRM and accounting software integration.

To successfully integrate your accounting and CRM system, you must be able to understand the benefits of doing so. Today, we will explore the benefits of integration and what to consider throughout this project.

Benefits of CRM and Accounting Software Integration
  1. Increased Efficiency​

One of the biggest benefits of integrated CRM and accounting software is the ability to streamline business processes.

For example, when a customer places an order, with the integration you can automatically create an invoice in your accounting software. This eliminates dual data entry and reduces the time from sending an invoice to a customer and receiving payment.

  1. Data Accuracy

When different departments or business units use different software applications to manage their data, you end up with data in different places.

However, with system integrations, your data can sync between your systems in real-time so you know your customer and financial data is accurate and up-to-date.

As a result, you can more easily analyze the relationship between sales and revenue and make more informed decisions.

  1. Improved Customer Service​

When your CRM and accounting software are integrated, the customer service team can use real-time data to quickly answer customer questions.

For example, if a customer has a question about a payment they made, your customer service team can access this information within the CRM system rather than switching over to the accounting system or department.

  1. Better Financial Visibility​

With successful integration, you can get a comprehensive view of your business’s financial performance and make better informed decisions.

Integration also enables better financial forecasting. By using predictive analytics, managers make better decisions about resource allocation and product development.

What to Consider When Integrating your company’s CRM and Accounting Software

  1. Compatibility

Before you can integrate your systems, you need to make sure they’re compatible with each other.

Many systems have pre-built integrations that make the process simple and fast.

If your software does not offer a pre-built integration, you may need to work with a developer or use a third-party integration tool. If that’s not the case, you should consider replacing your current systems with a comprehensive ERP system. These systems consolidate data and automate processes across functional areas.

A government organization recently asked us for assistance in evaluating accounting and finance solutions. The organization specified that it was looking for an integrated ERP solution.

  1. Employee Training

Training your employees on new business processes before integrating your systems is the best way to minimize operational disruption.

Start by identifying the key business processes that will be affected by the integration. This will help you develop a user training plan that is specific to each employee’s roles and responsibilities.

  1. Data Security

Integrating your CRM and accounting systems means that sensitive customer and financial data will be shared between the two.

As such, you must ensure that both systems have appropriate security measures in place. This includes strong passwords, two-factor authentication, and encryption to protect data in transit and at rest.

It’s also important to limit data access to only those who need it and to regularly monitor your systems.

CRM and accounting software integration can be a game-changer for your business. By syncing your customers data with your financial data, you can save time, improve your service, and make more informed business decisions.

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