Why invest in integrated Accounting and CRM software?
Why do companies have accounting systems?
The majority of organisations have some sort of accounting system and software in place, and this has been the case for a number of years. The reason for this is simple: accounting software makes the accounts process quicker, easier and more accurate, saving time and money. So, accounts systems are seen as must haves for the daily operation of a business. Although there are businesses that still perform book keeping manually, they are in the minority. Manual book-keeping is not only extremely time consuming and prone to error but it also lacks the ability to provide users with in-depth reporting or analysis facilities. And, because financial information is often the basis of business critical decisions, it's absolutely paramount that the information is up to date and correct. If this is not the case, management will be working with data which is inaccurate and this could have serious implications on the decisions made, and therefore the future success of the business.
The importance of Customer Relationship Management (CRM)
The importance of CRM systems within businesses has changed quite significantly over the past few years: they've moved from being "nice to haves" to essential tools used within organisations to ensure their future success. What's more, the current economic situation has emphasised the fact that it costs much more to obtain new customers than it does to retain existing clients, which has in turn made many companies focus on safeguarding their existing customer relationships. Through investing in a CRM system, organisations can ensure that they have all their customer information in one place. This means that customers are likely to receive much better service throughout, due to the level of employee knowledge.
Typically, organisations implement CRM systems because they want to improve front-office functions, making them more effective and efficient. In essence, CRM systems provide a clear insight into what is happening within the company and this gives managers the ability to accurately plan for the future.
Why use an integrated solution?
Both accounts and CRM systems contain valuable nuggets of information, and if distributed throughout the company, it has the potential to give the organisation a significant competitive advantage. However, when companies have two systems working independently of each other, all too often there is no information sharing, and the two systems will run parallel to each other, but in isolation. This can cause problems within the company especially between the front and back office functions. What's more, there is likely to be duplication of effort, especially as far as inputting data is concerned.
The integration of CRM and financial software prevents departments working independently of each other and it means that procedural hurdles between departments are significantly reduced. The integrated system gives all staff throughout the business access to a single, comprehensive and reliable source of information. This single-source of information ultimately reduces error, duplication and improves response times.
What Integrated CRM and Accounting System does Concentrix recommend?
Concentrix recommends the Sage 200 suite. As well as integrating outstanding Accounting and CRM applications, Sage 200 provides a comprehensive set of integrated business management software modules for mid-sized companies, which helps them to automate their whole business process. What's more, Sage 200 is a business wide application, which means, rather than having to run your company on several unconnected pieces of software, you can control everything from one solution.
For more information about CRM, Accounting Software or Sage 200, please contact Concentrix on 01509 410500 or email info@concentrix.co.uk