Skip to main content

Key Benefits for Integrating Accounting & CRM Systems

Learn about the key benefits that integrating accounting and CRM systems can provide, including improved revenue tracking and collaboration.
banner background

In today’s competitive business environment, it’s important to accurately record revenue sources, reduce data entry errors, and amalgamate department insights. An effective way to reach these goals is by integrating accounting and customer relationship management (CRM) systems. In this article, we’ll cover the key benefits that integrating accounting and CRM systems can provide.

Revenue Tracking

From sales forecasting to financial reporting, connecting accounting and CRM tools can help create efficiencies. One of the major potential benefits is improved revenue tracking. When these systems are integrated, customer data—including open opportunities, sales orders, invoices, and payments—is stored in one central location. Information can flow from one system to the next and provide sales analytics and business performance insight. Integration also can automatically connect the dots between revenue earned and specific deals and marketing campaigns. This can help you assess which campaigns produce the most revenue for your business.

Data Integration

Another potential benefit is reduced “wasteful” data redundancy and manual data entry. While “purposeful” data redundancy (like data backups) helps data security and compliance, “wasteful” data redundancy is the unintentional storage of similar data in multiple places at the same time. This can lead to an auditing nightmare. Accurate and reliable data is vital for business productivity. When accounting and CRM tools are connected, customer data only needs to be entered once and any updates can be easily managed. Data integration can help streamline workflows and improve the employee and customer experience.

Reduced Manual Data Entry

Coinciding with the data integration benefit is the opportunity to reduce manual data entry and data entry errors. When data is entered manually into multiple systems, the risk of errors can increase significantly. Incorrect sales and revenue data can adversely impact financial reporting and compliance. However, when accounting and CRM tools are integrated, data is entered once and automatically updated across all systems, helping reduce the risk of errors.

Department Collaboration

Linking together accounting and CRM systems also can improve communication and collaboration, particularly between finance and business development departments. When finance teams have access to real-time sales data, they can more accurately forecast revenue and make informed business decisions. Similarly, when business development teams have access to financial data, they can focus on the sales activities and campaigns that drive the most revenue.

When customer data is consolidated across systems, departments can review aggregate data to help gain a better understanding of their customers’ behaviors and journeys. This information can be used to personalize marketing and sales activities, which can potentially lead to increased customer satisfaction and loyalty metrics.

In conclusion, integrating accounting and CRM tools can bring significant benefits to organizations of varying sizes. Automating data entry and streamlining processes can help organizations reduce manual labor and free up resources for more strategic activities. Further, insights derived from customer data can help departments collaborate and enhance the activities and campaigns that drive the most revenue.

How FORVIS Can Help

The Business Technology Solutions team at FORVIS has certified experience in accounting and CRM systems. We are a Sage Partner, Salesforce Partner, Microsoft Dynamics Gold Partner, and 2022–23 recipient of the Microsoft Inner Circle award, in addition to the Solver Evangelist of the Year award. From technology assessments to digital transformation, we’re here to assist you with your business technology needs and goals. Use the Contact Us form below to get in touch.

Related FORsights

Like what you see?
Subscribe to receive tailored insights directly to your inbox.