10 Accounting Processes That Run Better On Salesforce
Many businesses have migrated to cloud-based Customer Relationship Management (CRM) systems to improve customer services and sales processes in the last few years. Now businesses are interested in getting even more value out of these technologies. One of the examples of increasing the benefits of using CRM technologies is companies connecting departments on a single platform. Working on the same platform means everybody can see the same data and information, so teams become more collaborative and productive.
Salesforce is an excellent example of unifying applications on the same platform, as it allows using complementary add-ons and plugins dedicated to each department. Finance and accounting systems are among the essential add-ons to the Salesforce platform to help companies streamline and automate business processes.
If you`re interested in optimising your usage of Salesforce to maximise your return on investment, you can benefit from the accounting apps available on the Salesforce AppExchange. You can find a finance app that meets your specific requirements to suit your size of the company and fits your budget.
Accounting on Salesforce streamlines your finances and automates manual business processes. It saves time by eliminating repetitive manual tasks and allows you to manage everything from a single platform. We have listed 10 accounting processes that run seamlessly on Salesforce for you to evaluate better the benefits of accounting on Salesforce.
10 Accounting Processes That Run Better on Salesforce
1. Sales Invoicing
Accounting on Salesforce helps you turn your opportunities into invoices with one click. You can avoid repetitive manual data entry and deliver more accurate invoices to your customers. With Salesforce native accounting software, you can create and send customised branded invoices to your customers and send automated invoice reminders.
2. Automated Invoice Reminders
Get paid faster with automated invoice reminders. Send automated invoice reminders to your customers. Decide how often reminders are sent and take the work out of chasing payments.
3. Revenue Recognition
Create automatic deferred revenue calculations and journals from sales invoices to give you real-time visibility into deferred revenue. One-click access to deferred and recognised revenue by Company, Account, sales invoice and products with daily, weekly, monthly or quarterly schedules.
4. Customer Balances
Easily track customer balances on Salesforce. You can maintain accounts, paid and unpaid invoices, expenses, transactions, credits, and more processes. All the people who need to see this information can easily view it on the customer record in one single platform.
5. Sales Orders
Automate and accelerate your sales order management on Salesforce. You can give sales and finance teams a fully integrated environment for processing sales orders and managing warehouses, inventory, and shipping. Gain complete visibility into inventory at all locations, instantly access available quantities, reserve the inventory and fulfill orders with streamlined workflows. Make this information available to your sales and customer service teams to better serve your customers.
6. Financial Reports
Make better business decisions with real-time financial reporting. Your finance team gets accurate, real-time financial statements, while your entire business benefits from detailed insights into organisational performance for improved decision-making. Use standard, out-of-the-box financial reports or easily create your own custom reports. Securely access financial reports from anywhere using a web browser or mobile device.
7. Finance Dashboards
View all your key information in one place with real-time financial dashboards. You can customise financial dashboards, eliminate spreadsheet-based reporting with real-time reports and dashboards and make better decisions. See the big picture in real-time, spot trends, and drill down to source transactions instantly from dashboard components and reports.
8. Purchase Orders
Control and monitor the entire purchase order process. Create purchase orders quickly using inventory items and email them directly to your suppliers. Allow approvers to quickly approve purchase orders from web, email or mobile. Get visibility into both direct and indirect spend with a complete audit trail.
9. Mobile Access
When you unify your accounting with Salesforce, you can access your financial data on mobile, so you can access your data anytime, anywhere. That means you enable a comprehensive 360-degree view of your business for your team to collaborate better and speed up processes.
10. Customer Self-service:
Personalise digital experiences for your customers and partners. With a self-service digital experience, your customers can access finance information in the same place as other customer information. A digital experience is a cost-effective way of increasing the productivity of finance teams by making accounting information available to customers. For example, customers can view orders statuses, pay Invoices, or download statements on their own schedule.
Unify your CRM and Finance to become a more productive, collaborative, social, and mobile business. Zumzum Financials, built 100% native on the Salesforce platform, moves your accounting to the cloud. Implementation is easy with Zumzum Financials as it shares the same powerful user interface as Salesforce. Getting started with Zumzum Financials will be one of the best investments for your company. Contact us for more information and get started.
