Accounting Software on Salesforce
A few years back, Forbes named Salesforce the most powerful CRM technology in America. Salesforce is known not only for its robust CRM but also for its software marketplace, the Salesforce AppExchange. Every tool you need to run your business can be bought on the Salesforce Platform. Salesforce users have access to over 3,000 applications from project management to document generation to accounting, and much more.
Within this ecosystem, the future of cloud-based accounting software is alive and well. There are accounting application options for all verticals, as well as small business to enterprise solutions. However, these options fall within two categories: sync applications and native applications.
Sync Applications
One option is to utilize accounting software that requires a sync tool to Salesforce. The most popular sync tool on Salesforce is DB Sync for applications such as QuickBooks and XERO. While these sync tools work, they come with the high risks of interrupted or failing connections and often waste valuable time syncing multiple systems/data together.
Additionally, most software applications release upgrades/updates throughout the year due to the ever-evolving nature of technology. When upgrades are released, your sync tool may fail as changes in one software do not necessarily speak well with the other software. This means any customizations and configurations will break, causing companies to spend unplanned dollars just to restore the connection. Besides connection failure, companies may experience data inaccuracies because information is being pulled from one system to another through the sync tool. These sync connectors do not always bring over all the data needed in a timely manner, nor can companies rely on them to pick up all the data needed, leaving important information left behind.
However, for very small start-up companies, a sync tool can work well, but only if the transaction volume is low as there is less data to manage than small to midsize businesses.
Native Applications
Within the Salesforce ecosystem, native accounting applications are the best option for any business. Native applications are apps built on Salesforce, meaning they rely on the same security, API, and features. There are no sync tools needed nor will the application break when an upgrade is released. Additionally, data is all in one place, eliminating the need for multi-system reconciliation.
Salesforce does not have a Salesforce product for accounting software. They rely on AppExchange partners to manage back-office functions like accounting. But, there are accounting applications on the AppExchange that are native to the ecosystem and work for any and all industries. Moving to a native application ensures your data is all in one system, eliminates sync issues and duplicate data, and provides real-time visibility of customers from lead to ledger.
What Now?
Do your research. Ask the questions to find the best option for you. And, talk with an IT specialist that is up to date on the latest technology. Fortunately, the application we use is fully native to Salesforce and taps into the same power Salesforce users know, love, and trust. If you want to expand your Salesforce environment with a native accounting application that is automation-ready and customizable, contact us to learn why transformative accrual accounting software is your solution.