Ask yourself the following questions.
- Do you have multiple, disparate systems for Accounting, Expenses, CRM, etc. that don’t share data?
- Are you using spreadsheets to keep track of your financial and customer data?
- Are you still manually processing paper for invoices, expense reports, etc.?
- Do you have to manually generate your financial and sales reports?
- Do you have sales over $1 million and do you have to hire another finance person every time sales increase by a substantial amount?
If you answered yes to any of these questions, then you have a data disconnect problem. Don’t worry, there are many other businesses with this same problem. If this was a decade ago, then your company could probably survive with your data being disconnected. But not anymore.
Many companies come to us with the problem of having disconnected data; siloed financial information in each of their financial software programs. It is fairly common to get into this situation. Every company starts small and uses small business solutions that are made to address a single function. Unfortunately, these financial software programs are not scalable to meet the growth. Most often, SMBs are utilizing multiple non-integrated systems (general ledger, travel and entertainment, purchase orders, invoicing, etc.) that were chosen on a point solution basis to solve one individual challenge the company was facing at the time.
As result of having disconnected data, a company faces the following serious issues:
- Data duplication: the same client, vendor or employee information has to be double or triple entered into multiple financial systems.
- Data not syncing: Data is usually not synced across these multiple platforms, resulting in incorrect information.
- Reporting difficulties: Having disparate financial systems make it challenging and time-consuming to generate the operational and profitability reports.
- Not scalable: The inefficiencies created by these systems increase exponentially with each new employee, client or vendor added as the company grows, making these unconnected systems untenable.
All of these issues severely impact your company’s ability to be competitive. Many other companies have chosen the alternative – a comprehensive financial solution from a company like Consero which provides an enterprise-level accounting package that is connected to best-of-breed software programs. These companies, including many of our customers, are now enjoying the following benefits:
- Ability to scale
- Complete financial visibility
- Operational efficiency
- Minimized exposure to fraud
- Reduced staffing costs
- Financial reporting on demand
- Superior customer experience
- Improved profitability
If you are interested in learning how we can help your company connect your data, contact Consero to learn more about our financial solutions.
