Story image

Integration software speeding up and simplifying collaboration

13 Mar 2018

The success of a company is dependent on their sales and a finance department, which requires these two departments to seamlessly work together.

Unifying the sales and finance departments is imperative to the profitability of a company, whereas a lack of communication is a constant friction and drags on operations and growth.

Communication is key 

Getting the entire company aligned — which is what people mean when they say ‘rowing in the same direction’ — is terribly difficult.

If it were easy, we’d all do it.

So it’s a rare opportunity to massively increase alignment, communication, and knowledge sharing across the sales and finance teams.

How can sales teams optimise their operations if they can’t ask questions like “Which clients were invoiced? Which are due, or overdue? By how much? How late do they usually pay? What are our total overdue receivables?”

Attempting to answer this (without data integrations connecting the teams) usually requires so much time and manual communication that it’s easier to just get on with the job without this info, even if that means operating blind.

But the sales department needs this high-quality data, powerful reporting and up-to-date information at their disposal to drive maximum profitability.

And the finance department needs accurate data from which to construct valid invoices that will be paid promptly.

How integration software helps 

While the individual teams have better tools than those of yesteryear, and the CRMs and accounting software accelerates their individual work, for most companies the knowledge sharing between teams hasn’t caught up.

That's why so many Salesforce Consultants emphasise on providing companies with better integration tools and resources.

Thanks to CRM and accounting software integrations, the path to creating a more seamless, transparent, and efficient workflow between the two departments is a possibility.

Integration software companies like Breadwinner, DBSync and Workato help bring sales and finance together by integrating Salesforce with popular accounting systems like Xero, QuickBooks Online, NetSuite or Sage.

These integrations help remove departmental barriers, provide management with reliable data and broader insight, and empower organisations so they can improve the company’s bottom line.

They are most important for fast-growing companies as they expand.

Expansion itself is an accounting problem, as multiple currencies, multiple tax rates, and even multiple legal entities complicate the connection between sales and finance.

This increased complexity can only be solved by software or increasing headcount.

At the end of the day, finance integrations speak to the very heart of a company’s concerns. They keep headcount under control while speeding time to payment and aligning sales teams to the company’s cash generation.

An organisation that achieves this, particularly one with a common goal among teams, and is armed with better information, will ultimately demonstrate compelling and improved performance.

Better data management: Whose job is it?
An Experian executive’s practical advice on how to structure data-management roles within a modern business environment.
Platform9 and Intersect partner to bring unified cloud to A/NZ
“For Intersect, Platform9 represents the single most strategic solution to a set of challenges we see expanding across the board."
Meet the future of women in IT
Emily Sopers has just won Kordia’s first ever Women in Technology Scholarship, which was established to address gender imbalance in the information and communications technology (ICT) sector.
Web design programmers do an about face – again!
Google is aggressively pushing speed in the mobile environment as a critical ranking factor, and many eb design teams struggling to reach 80%+ speed scores on Google speed tests with gorgeous – but heavy - WordPress templates and themes.
Digital spending to hit US$1.2 trillion by 2022
A recent study by Zinnov shows that IoT spend reached US$201 billion in 2018 while outsourcing service providers generated $40 billion in revenue.
'Iwi Algorithm' can grow Aotearoa's mana
Ngāti Whātua Ōrākei innovation officer Te Aroha Grace says AI can help to combine the values from different cultures to help grow Aotearoa’s mana and brand – and AI is not just for commercial gain.
Dropbox brings in-country document hosting to A/NZ & Japan
Dropbox Business users in New Zealand, Australia, and Japan will be able to store their Dropbox files in-country, beginning in the second half of 2019.
Why 'right to repair' legislation could be a new lease on life for broken devices
“These companies are profiting at the expense of our environment and our pocketbooks as we become a throw-away society that discards over 6 million tonnes of electronics every year.”