Integrating your accounting systems into one central system can ensure that everything works together and your books are as accurate as possible. While multiple different systems may have worked in the past, inconsistencies between them can often result in problems that start small and grow larger. Today’s integrated systems ensure that all of your records – from inventory to payroll – are in one place so that the information they contain can work together to help you stay organized and on track.
How Integrating POS Systems Saves Time
An integrated POS system can allow your sales and inventory to be in direct contact with each other via the same software. That means that updates are done in real time, which can avoid time being wasted when your current inventory doesn’t meet demand. An integrated POS system also prevents time wastes and potential errors entering the same information into multiple different software programs; the more times the info must be entered, the more likely errors will occur. A single software system means one central place to enter all of your company’s records, so errors are less common and everything is in a single location for easy reference.
The Cost of Integration
Many companies shy away from the step of moving to a complete accounting integration because of the cost involved. Naturally, adding new software and training employees to use it properly can incur extra cost, at least at first. However, after the initial cost of moving everything over and training your employees, the new software will cost less, create efficiencies, and prevent your company from losing money due to accounting errors and the sales losses due to the inability to update inventory in real time. Integrated software is an investment that provides savings in the long run.
Tracking Business Expenses and Income
Making the right decisions for your company requires an understanding of what’s really going on with your accounts payable and receivable. The more accurate and up to date that knowledge is, the better your decisions for the company will be. Ordering inventory, staffing, and other major decisions can hinge on a clear understanding of where the company’s inventory and financial status stands at any given point in time. Delayed information can result in decisions that may be detrimental to your company’s future.
Preventing Future Costs
Once all of your company’s books are integrated into one system, the cost of future changes can be minimized. It requires less IT staffing to maintain and update a single integrated system than it does to maintain, update, and introduce multiple software systems. That means less time and money spent on analyzing and selecting software. It also means fewer hours spent getting systems updated and running and ensuring that all of your staff are up to date on the changes. Integrated systems also result in less time spent on troubleshooting, since there is only one system and not multiple programs with potential problems.
A Better Customer Experience
An integrated system doesn’t only benefit your company and employees, it also benefits your customers. Access to updated, real-time inventory helps you make sales and satisfy customers, and fewer errors creates a better sense of trust. A better customer experience is always beneficial to your company, and integrating your POS system with your bookkeeping software can make all the difference when it comes to making sure your customers have confidence in your company.