Integrating accounting applications has become increasingly popular amongst businesses , and for good reason . By streamlining financial processes and centralizing data , integrated accounting applications can save companies time and money , improve accuracy and provide greater visibility into their financial health .

Below , we ’ ll dive deeper into some of the benefits of accounting application integration and how it can help businesses of all sizes .

ENHANCED ACCURACY : One of the biggest advantages of accounting application integration is improved accuracy . By automating the data entry process , businesses can reduce the risk of human error and ensure their financial information is current , consistent and correct . This enhanced accuracy can help businesses make more accurate decisions based on more reliable and trustworthy financial data .

INCREASED EFFICIENCY : With the ability to integrate accounting applications with other systems , businesses can streamline their processes

and save time . For example , businesses can integrate their accounting software , CRM ( customer relationship management ) system and their industry specific software with one another . This helps to automate responsibilities like processing customer invoices and pulling product costs , which reduces the workload of employees and allows them to focus on other important tasks .

IMPROVED DECISION MAKING : Integrating accounting applications with other systems allows businesses to save time on reporting , which in turn allows them to make more informed decisions with realtime , correct and up-to-date information . By connecting different applications , they can quickly and easily generate reports , such as financial statements , budgets , inventory , fixed assets and cash flow projections . This also helps businesses confirm that they are on the right track and making the best possible decisions for their future .

REDUCED COSTS : Integrating accounting applications with other systems can help businesses reduce their overhead costs .

By automating processes , businesses can reduce the amount of time and money spent on manual labor . This can help to free up resources and allow employees to take care of other more pressing functions or be a resource elsewhere in the business .

It ’ s easy to see what a powerful tool accounting application integration can be to help businesses in many ways . To get started integrating accounting applications , you should first identify which accounting applications you want to combine and what specific data or functionality you want to integrate .

Then , research the available integration options for those applications , such as if the application has an application programming interface ( API ) or third-party integration tools . It ’ s also important to consider the security and privacy implications of integrating accounting applications , so be sure to follow best practices and consult with an expert if necessary .

Emily Jones , PMP serves as the Principal Practice Leader for Warren Averett Technology Group . She has decades of experience in assisting companies with their IT needs .