The downturn in the economy, coupled with concerns over falling sales, export costs, cashflow and investment has hit business confidence. With many owners and leaders expecting profits or margins to dip. Businesses are now in a rush to find new ways to save costs and improve performance.
If you are spending hours looking for solutions but unsure where to even begin, one current solution -which is often overlooked- is business system integration.
As most will know, system integration is the process of connecting computer systems or software platforms through one single larger system. Enabling all solutions to functionally work together.
Most will also know that system integration is an effective way to improve efficiency. But how does this have a direct impact on cost?
In this article, we will explain how!
Four reasons why business system integration can help reduce costs and boost performance.
Real-time Reporting
Business system integration creates a flow of data between various software systems and platforms. What this does is offer a real-time view of all business data within one platform.
By keeping an eye on current trends and changes, businesses can minimise risks and discover quick wins to reduce costs. As well as, understanding more about their customers and improving the company’s overall financial health.
Improved Data Accuracy
Data automation removes the need to manually re-enter key data between systems. This removes human errors from the data, helping improve forecasting and financial decision-making.
Not only this but, inaccurate data such as an incorrect customer address in an accounting/fulfilment system can not only cost money to rectify but can leave a customer unhappy. Affecting any potential future sales.
Syncing data such as customer details and orders from your website into your ERP/CRM systems removes such slip-ups.
Time is Money
A great benefit of system integration is the reduction of hours spent performing manual tasks. Without manual data processing, teams can reduce their workload significantly. Giving them time to focus on improving the business performance.
Businesses can also save costs in recruitment. With integration there’s no need for extra staff to handle manual processing. Even with an increase in data, processes or systems, the right integration solution can continue to handle this.
For example, across 2021, our integration platform saved each customer 700 hours on average of manual processing time. Reducing our customers’ need for further recruitment and allowing their current team members to focus on meaningful tasks.
Improve employee productivity/wellbeing
Manual data entry is the bane of an employee’s existence. Let’s face it, updating spreadsheets and systems with new and existing data is mind-numbing and can soon affect even the most positive of moods. As the saying goes, variety is the spice of life.
Integrated systems remove the need for manual data transferring, lifting the mood of those currently burdened by updating and maintaining data.
With employees now able to focus on tasks that can grow the business, their work becomes more meaningful. Further helping to improve work culture, employee performance, and staff turnover rates.
Prioritise integration
Whilst there are many tools and strategies to reduce costs, data automation/integration software should be a priority. Integration tools -such as our own- allow businesses to connect their disparate systems in minutes providing an instant impact on business performance, efficiency, and visibility.
Our Besyncly product is helping a wide range of businesses to integrate data between platforms such as:
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Salesforce
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NetSuite
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Sage
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Xero
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QuickBooks
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Shopify
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Amazon
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Magento 2
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eBay
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Freshdesk
If you are in the market for an integration platform, why not get in touch or visit our integration page to see what Besyncly can do for you and your business.
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