Rose Report: Issue 13

Single Source of Truth: Linking Up CRM with Accounting

In a still recovering economy, it’s more important than ever for organizations to have constant, comprehensive visibility into how their businesses are operating, which areas are most and least profitable, which customers produce the most revenue, and which require further development. Without linking together their customer relationship management and accounting databases, it’s difficult to achieve this level of transparency.

To fully serve and reach their maximum potential with each customer, an organization’s sales and support teams should be connected with its finance and accounting functions. This way, both sides of the business can clearly see what every relationship entails, and what the various teams within the organization can do to better accommodate each customer. Integrating CRM and accounting software solutions makes this process seamless, plus eliminates the need to duplicate tasks and documents, since every team has access to the same information. For example, if the sales team has made promises during the sales cycle, the accounting department will be fully aware of these promises and have proper documentation. These promises will also be available for review by operations as they begin to service the customer.

Unlike other popular CRM systems, NetSuite CRM+ is the rare solution that can automate an organization’s processes and link up sales and support with its accounting system. With its sales force automation, NetSuite offers an organization’s sales team easy access to accurate, comprehensive records of every potential lead, the status of ongoing opportunities, key contacts within each existing and potential customer, and the ability to instantly convert opportunities into quotes and sales orders.

Its real-time dashboards, reporting, and analytics enable users to keep close tabs on key performance indicators, allowing them to immediately identify and fix anything problematic. And because NetSuite CRM+ is tied into an organization’s accounting system, the finance department instantly gets information on every company once it becomes a live client, allowing the finance and accounting professionals to fully understand what impact the new relationship will have on the organization’s finances. That level of visibility creates a single source of truth within an organization and helps an organization build trust and a common understanding with all team members.