When your e-commerce business is growing fast, maintaining order cycles and keeping a tab of accounting processes can become overwhelming. At this stage, the best way to handle things effectively and scale further is to make software your best friend.
Here are 6 ways accounting automation can help you scale your e-commerce business.
1. Error-free record-keeping
As an e-commerce business owner, you want to offer the best services to your customers, and one way to achieve this is to optimize and automate your record-keeping process. Accounting automation reduces entry error rates, as feeding information into the system takes place without any manual work.
2. Build a seamless business workflow
A series of actions take place at the same time the moment a customer places an order. With accounting automation, the entire order cycle is managed on auto-pilot, and it helps you develop a seamless business workflow. You can integrate your ERP with Xero, QuickBooks, TaxCloud, TaxJar, or any other automation software to quickly export data. With an ERP software, you can manage asset entries such as sales orders, invoices, payments, customers, credits, and consolidated data entry on a prefixed schedule without any human involvement.
3. 24X7 Availability of Critical Data
With accounting automation, you get access to a cloud dashboard where all your vital data is populated securely. Authorized individuals from your team can access accounting information from anywhere in the world, which makes business processes all the more seamless and streamlined, especially for remote and cross-continent teams.
4. Saves time
Let’s be real—manual bookkeeping, order management, and accounting take a huge amount of time, even if the ones involved in the task are experts at their job. The process itself is boring and repetitive, so automation makes a lot of sense in this area. When you choose accounting automation, you save tons of time and energy, and your employees can focus on more important services.
5. Saves resources
Manual data entry is not only tedious, but it can also drain out the resources that you could have used elsewhere. If you want to handle the accounting processes of each customer with an in-house team, you need to hire employees solely for that purpose, or you’ll have to assign the task to your finance team. Either way, it will cost you money to get the work done, but you cannot be assured about accuracy as everything is being done manually. With accounting software, it’s possible to automate everything, and you only have to pay a small fee.
6. Quick data retrieval
You might have to retrieve old records for data forecasting, tax audit, preparing financial reports, or any other reason. Accounting automation allows you to quickly access old data saved in the system, without having to go through thousands of files and paperwork.
Stay on top of e-commerce operations with kentro.io
Be it warehouse operations, customer support, fulfillment, accounting automation, sales, or tech—kentro.io takes care of every aspect of your e-commerce business, so you can focus on the core. Book a demo to know more!