Accounting Seed vs. Quickbooks vs. Sage vs. Xero: A Detailed Comparison
Are you using Excel or other outdated accounting software to track your cash flows, expenses, and other financial processes? Then we’ve got some bad news for you. Most of your competitors are marching ahead in financial management as they have embraced modern and more powerful accounting software to manage their day-to-day operations. Now, the big question is – what are the top accounting platforms currently available? You will find the answer in this post as we are going to compare four really popular platforms and help you select one for your business. Software #1: Accounting Seed Accounting Seed is a native Salesforce application with a focus on accounting and financial management. Since the tool is hosted in Salesforce SSOT ecosystem, it works seamlessly with other Salesforce tools. Accounting Seed also handles every aspect of your financial workflows, right from billing and ledger to accounting and compliance. It is one of the few platforms that has the capability to deal with multiple currencies. This makes it a great option for companies with a wide global footprint. Analytics Capabilities Accounting Seed comes loaded with various dashboards to gain full visibility on your finance KPIs. Thanks to integration with other Salesforce tools, there is depth to the insights generated, and you will get a better understanding of how finance is impacting all aspects of your business. Accounting Seed also gives you access to data rich recipes and trending data with the ability to perform ad-hoc, multi-dimensional analysis. The most popular dashboards in Accounting Seed include P&L, Revenue, Expenses, Balance Sheet, and Ledger Inquiry. Software #2: Quickbooks QuickBooks is a cloud-based financial software owned by Intuit. It lets you effectively manage your finances and perform advanced accounting and bookkeeping tasks. The QuickBooks ecosystem supports integration with hundreds of applications. The most popular ones include QuickBooks Payroll, QuickBooks Time, and QuickBooks Capital. Unfortunately, to fully utilise some of QuickBooks’ most powerful functions, you need to have a sound understanding of accounting. The software often poses challenges for beginners due to its complexity. Analytics Capabilities QuickBooks offers a plethora of pre-designed financial reports and dashboards. You can use them to analyse invoices, profit and loss statements, and track overall accounting performance. It can also be integrated with external data sources, facilitating the creation of comprehensive, cross-functional reports and dashboards. A standout feature of Quickbooks is the Company Snapshot, which offers a 360-degree overview of key metrics such as purchases, invoiced amounts, and profits. Software #3: Sage Sage, helps in increasing the operational efficiency of your accounts and finance teams. It is one of the few accounting platforms to be endorsed by the AICPA (American Institute of Certified Public Accountants), making it a popular choice among CPAs. One of the positives about this tool is its quarterly updates. It keeps adding new features and product enhancements regularly to scale your accounting operations. However, Sage might not be your best bet if you are a fast-growing enterprise. If you suddenly need to manage a large transaction volume or have multiple users working in the system simultaneously, the software’s performance might get hampered pretty quickly. Analytics Capabilities Sage provides access to 150 built-in financial reports and the ability to create custom reports easily. It offers multi-dimensional visibility into income statements, balance sheets, cash flow statements, and more. You can compare operational statistics with financial metrics to make informed decisions and identify trends and deviations with built-in charts and visualisations. Software #4: Xero The final tool in the list is Xero which is tailored for small and medium-sized businesses. In fact, it lacks several features that are needed to support the complex requirements of large enterprises. However, if you are willing to modify your workflows to fit Xero, it can still serve as a cost-effective solution for you. The tool also allows the development and integration of third-party apps within its ecosystem. Right now, there are 700+ third-party apps available for functions such as invoicing, expense recording, and more. Analytics Capabilities Xero offers all the necessary analytics features, including the ability to track metrics like income and expenses, identify and compare trends for different timeframes, and even run reports. But what sets it apart from the rest is its advanced analytics capabilities, including the ability to predict future cash flows and generate insights for better clarity about future financial trends. For instance, you can make AI-powered forecasts for recurring payments of bills and invoices. Key Factors to Consider While Selecting a Bookkeeping Platform Choosing the right accounting platform is crucial for ensuring well-oiled financial operations. Here are some key factors to consider when selecting an accounting platform: 1. Ease of Use The platform you choose must be user-friendly, with an intuitive interface. It should be easy for your team to navigate and perform different tasks. In other words, it should be usable from day one, even if you or your team has limited accounting knowledge. 2. Features and Functionality Carefully evaluate the features offered by the platform and see if it meets your basic requirements. Must-have features of accounting software include invoicing, expense tracking, bank reconciliation, payroll management, and financial reporting. Nice-to-have features include project accounting, multi-currency support, and inventory management. 3. Integration Capabilities A good accounting platform should integrate seamlessly with other applications your business uses. It could be anything from CRM systems like Salesforce to communication systems like Slack. Integration helps to automate data entry and ensure consistency across different business functions. Check out how an integrated accounting system improved time and resource efficiency by over 30%. 4. Scalability As your business grows, your accounting needs will evolve. Choose a platform that can scale with your business. The platform must have the capacity to handle increased transaction volumes and complex financial operations. 5. Security Security is critical when dealing with financial data. Ensure the platform employs robust security measures, such as data encryption, secure user authentication, and regular security updates. Our Recommendation Brysa recommends Accounting Seed as it is the only platform that checks all the above
Making Slack the Pillar of Collaboration in Your Company
According to Gartner, 47% of digital employees struggle to find the desired information, while 32% end up making the wrong decision due to a lack of information. These 2 hard-hitting facts convey the same thing – effective collaboration is the key to business success. Most of the time, the information is stuck in silos, leading to inefficiencies, duplicated efforts, and missed opportunities. Now, to improve collaboration in your organisation, there are countless tools available on the internet, but if there is one that stands out due to its rich feature set and capabilities, it has to be Slack. In this article, we will understand how Slack can become the pillar of collaboration in your company. But first, some basics. What is Slack? Slack is an instant messaging and collaboration tool that was launched in 2013. In the last 11 years, it has turned out to be a boon for many companies looking to bolster their team communication. Apart from a real-time environment where team members can chat, Slack also allows them to seamlessly share files, do audio and video calls, and integrate with third-party tools. In Slack, users can create spaces dedicated to specific topics or projects where only relevant team members are invited to collaborate. Here are some common use cases of Slack: Instant communication Project planning and progress tracking File sharing and document collaboration Customer support Internal knowledge sharing Task management and reminders Importance of seamless collaboration: Why do you need a tool like Slack? Let us now understand why seamless collaboration between team members is very important for a healthy organisation. This also answers the question – why you must adopt Slack in your company. Here are the top reasons: All the team members get a better understanding of all the projects happening within the organisation. For instance, you will find many organisations creating one large Slack space for all the employees in the organisation, where everyone can share what they are going to work on that day or week. Seamless collaboration facilitates easier and better knowledge transfer. For example, when an employee quits, most of the time, the knowledge they gained leaves with them. But when they have interacted with other team members via Slack, all the information is available for retrieval later. This minimises the impact of their departure. Strong collaboration results in a better product or service. The logic is simple. The more the employees communicate, the more they come up with innovative ideas. It results in more opportunities for enhancements and fewer chances of errors. Effective collaboration fosters a strong culture where everyone supports each other. As a result, there is less fear of failure because now, every project is a group project. Integration of Slack and Salesforce (SSOT) While Slack is a great tool, no doubt, it becomes even more effective when integrated with Salesforce SSOT. Here are some reasons why Slack plus Salesforce SSOT should be the actual pillar of collaboration in your company – Real-Time Sales Updates Once you integrate Slack with Salesforce SSOT, all your relevant sales data and updates become easily accessible within Slack. Your sales teams can receive real-time notifications about changes in lead status, deal closures, and other important account activities. This allows your team to act quickly and stay informed without the constant need to open multiple platforms. Seamless Account Collaboration With Salesforce data available directly in Slack, your sales representatives, account managers, and customer success teams can collaborate more effectively on customer accounts. Shared access to Salesforce records in Slack channels means your teams can discuss and resolve issues in an agile manner. Enhanced Lead Management By integrating Slack with Salesforce, processes like lead assignment and follow-ups become more efficient and effective. In fact, you can set up automated alerts in Slack for new leads. This ensures that no opportunity is missed and that leads are promptly addressed by the right team members. Improved Sales Pipeline Visibility The integration provides clear visibility into your sales pipeline, as you can share Salesforce dashboards and reports in Slack channels. This enables your sales teams to monitor progress, identify bottlenecks, and make data-driven decisions to improve sales performance. Accurate Forecasting Using Slack as a communication hub integrated with Salesforce helps maintain data consistency and accuracy. Real-time updates and synchronisation between Slack and Salesforce ensure that sales forecasts are based on the most current data, leading to more reliable predictions and better strategic planning. Salesforce + Slack: The Road Ahead The integration of Salesforce and Slack has already reshaped how teams operate and interact in today’s dynamic business world. A particularly exciting development on this front is the native integration of Slack with Einstein Copilot, the conversational AI assistant for Salesforce CRM. This infusion of GenAI into Slack is set to empower employees to accomplish their tasks more efficiently by providing direct answers to their questions within Slack, all based on trusted customer data. You can read more on how Single Source Of Truth (SSOT) creates a better foundation for GenAI in your company. You can build a workspace where mundane tasks are handled by Slack and Salesforce, allowing employees to focus on more meaningful work. This AI integration will make everyday tasks simpler, interactions more pleasant, and overall productivity higher. If you wish to be a part of this tectonic shift in meaningful collaboration, join hands with Brysa, the leading Salesforce expert in the UK. We offer Salesforce implementation and maintenance services and make sure that you experience all the benefits offered by Salesforce, including the ones you achieve by integrating with Slack. Contact us to start your transformational journey.
Growing Significance of Programmatic and Data in OOH Advertising
Growing Significance of Programmatic and Data in OOH Advertising Are you part of the OOH (Out-Of-Home) or the Digital OOH (DOOH) advertising industry? Then exciting times are ahead for you. Recent advancements in AdTech have led to the rise of one of the biggest trends ever seen in the OOH format. Yes, we are talking about programmatic OOH advertising. A significant global demand for programmatic OOH ads is expected in 2024 and beyond. In fact, most of the spending in OOH campaigns this year will be driven by a rapid expansion in programmatic OOH and data advertising. In this post, we will understand the growing significance of programmatic and data in OOH advertising. What is programmatic OOH advertising? Programmatic OOH advertising is the process of automatic buying, selling, and delivering out-of-home advertising. Unlike traditional OOH advertising, programmatic OOH advertising uses computers to orchestrate the sale and distribution of ad content. This is quite similar to what is prevalent in typical online advertising. The only difference is – in programmatic OOH advertising, customers define specific parameters for media acquisition, which then performs programmatic data analysis and triggers automatic ad purchases upon fulfillment of these criteria.With that introduction, let us understand why programmatic OOH advertising has grown in importance in recent years. Why is the significance of programmatic OOH advertising surging? Here are 6 different reasons why programmatic OOH advertising is the new talk of the town in the OOH industry: 1. Quicker activation Advertising and marketing are extremely time-dependent. Even a couple of days you waste in launching a campaign can be the difference between a successful sale and a lost sale. This is where programmatic OOH advertising helps, as it lets you quickly upload, schedule, and initiate campaigns. Put simply; it doesn’t matter if your campaign has to align with the latest social trends or if you need to respond promptly to a market shift; programmatic OOH ensures the timely delivery of campaigns. 2.Real-time optimization Programmatic OOH advertising can help optimize your campaigns in real time, a key requirement in the OOH industry. Advertisers can dynamically enhance their campaigns thanks to continuous monitoring of campaign performance and the generation of advanced reports. Advertisers can swiftly adjust their messaging, targeting criteria, and creative components as and when needed. This proactive, real-time model enables data-driven decision-making. 3. Dynamic Creative Optimization Imagine you run an OOH creative display campaign during an Ashes test match between England and Australia. If England beats Australia, you would want the creative to change quickly to congratulate England so that fans witness the congratulatory message while returning home. This is made possible via Programmatic OOH thanks to its Dynamic Creative Optimization capabilities. Advertisers can also modify content such as images and ad copies based on unique factors such as weather conditions and traffic information. For instance, you can display ads based on the temperature or UV index to display the most relevant ad creative. 4. Improved targeting Programmatic DOOH also enables you to reach your desired audience with amazing accuracy. It uses a data-driven and programmatic strategy to help you carefully target specific demographics and locations, which ultimately helps in pushing hyper-relevant and personalized messages. Even granular factors such as the time of day can be used to improve your targeting capabilities. Ultimately, programmatic targeting ensures that all your ads are more impactful and result in better conversion rates. 5. Creative opportunities Programmatic OOH advertising has unlocked a cartload of opportunities for advertisers. Thanks to the creative flexibility programmatic OOH offers, advertisers can run an ad on a wide variety of screens. Be it a small TV in a gym to a large screen in a shopping mall, advertisers can target people from walks of life that were previously unimaginable. Advertisers have all the knowledge at their fingertips, including who, where, and when someone will see their ad. This helps them build targeted messages into their creative that are supported by the ad’s physical surroundings. 6. Integration capabilitiesProgrammatic OOH seamlessly integrates various data sources, including mobile and online data, amplifying campaign effectiveness through informed decision-making, optimization, and impact measurement. Moreover, this integration with other advertising channels, like digital and social media, fosters a smoother customer journey, augmenting the overall efficacy of OOH campaigns. Wrap Up The role of programmatic technology has transformed the way OOH advertising works. Thanks to it, advertisers can now achieve unprecedented levels of targeting precision, flexibility, and overall effectiveness in their campaigns. However, infusing programmatic technology into OOH advertising is not easy and takes a lot of time and resources. This is where the need to partner with an OOH expert like Brysa arises. We are the world’s leading OOH consultant with a focus on the Salesforce ecosystem. We ensure that you and your team effortlessly adapt to the changing OOH landscape including the efficient handling of programmatic and data in OOH advertising. To know more about Brysa and how we can help, contact us now. Frequently asked questions 1. What are the creative opportunities offered by programmatic OOH advertising? Programmatic OOH provides creative flexibility, allowing advertisers to run ads on various screens and target diverse audiences across different locations and times, maximizing the impact of their campaigns. 2. Why is programmatic OOH advertising significant? It offers quicker campaign activation, real-time optimization, dynamic creative changes, improved targeting, creative flexibility, and seamless integration with data sources. 3. How does OOH advertising differ from traditional methods? Unlike traditional OOH advertising, programmatic OOH utilizes automated processes, enabling real-time adjustments and data-driven targeting. 4. How can I learn more about programmatic OOH advertising? Contact Brysa for insights and consultation on implementing programmatic OOH advertising strategies tailored to your needs. 5. How does programmatic OOH advertising integrate with other channels? Programmatic OOH seamlessly integrates with mobile, online, and social media data, amplifying campaign effectiveness through informed decision-making, optimization, and impact measurement, fostering a smoother customer
Salesforce as the Ultimate Single Source of Truth: Integrating Business Lifecycle with RevOps Flow
As organizations work towards different goals like increased efficiency, faster decision-making, reduced risks, and better revenue, it becomes increasingly difficult not to talk about the role of RevOps in achieving them. Traditionally, sales, marketing, services, and finance have operated via distinct, specialized systems—like a billing tool that was suitable only for one-time purchases but not for subscriptions. Or an order management system that integrated with an E-commerce store but not with a kiosk. The absence of seamless data flow between these systems means manual data transfer, resulting often in incomplete customer information for decision-making. This ultimately lead to revenue loss for the company. To address this, the integration of different functions into a unified RevOps flow is crucial. At the forefront of this transformative shift stands Salesforce, positioned not just as a CRM platform but as the singular source of truth for the entire business lifecycle. RevOps using Salesforce unifies the functions within the same ecosystem which enables cohesive and informed actions. Let us now understand how different Salesforce solutions at different stages of business lifecycle help in making this formidable ecosystem the ultimate single source of truth. Stage 1: Marketing Cloud For Personalized Marketing Campaigns Marketing Cloud empowers businesses to create personalized, data-driven marketing campaigns. The integration of Marketing Cloud into the RevOps flow allows you to align marketing efforts with your finance objectives. For starters, you can leverage this platform’s automation and analytics capabilities to optimize lead generation and nurture prospects effectively. The collaborative environment offered by Marketing Cloud also ensures that the insights are seamlessly shared across the organization for inclusive decision-making related to marketing strategies. Stage 2: Sales Cloud For Early Stage Growth The integration of the Sales Cloud into the RevOps flow ensures that your sales team operates on a unified platform, fostering collaboration and streamlining the entire sales process. Your team gains a comprehensive view of the entire sales pipeline, allowing them to identify trends, find bottlenecks, forecast sales accurately, and make instant decisions. The automation features in Sales Cloud enable sales representatives to automate routine tasks, such as data entry and follow-up emails, allowing them to focus more on engaging with prospects. All these benefits lead to improved lead-to-revenue conversion rates and an accelerated sales cycle. Stage 3: Salesforce CPQ for Accurate Quote Creation Salesforce CPQ (Configure, Price, Quote) is designed to simplify and accelerate the quoting and contracting processes. By integrating CPQ into your RevOps framework, you can ensure that your sales teams generate accurate quotes based on real-time product and pricing information. This not only expedites the sales cycle but also minimizes errors in the quoting process, enhancing customer satisfaction. The seamless connectivity between Sales Cloud and Salesforce CPQ ensures that all teams are working with consistent data, promoting a synchronized approach across the organization. This ultimately leads to improved revenue. Stage 4: Service Cloud for Exceptional Customer Experience Service Cloud enables organizations to deliver exceptional customer service by providing an environment for case management, customer support, and field service. Integrating Service Cloud into your RevOps flow ensures that customer service teams have access to the same customer data as sales and marketing, facilitating a complete understanding of customer interactions. This alignment enhances customer satisfaction, improves retention, and contributes to upsell and cross-sell opportunities, driving overall revenue growth. Stage 5: Accounting Seed for Financial Management Accounting Seed is a robust accounting solution built on the Salesforce platform. Its integration into the RevOps framework completes the end-to-end business process, ensuring that your financial data is seamlessly connected with sales, marketing, and service information. With Accounting Seed, you can manage invoicing, financial reporting, and other accounting functions directly within Salesforce. This integration minimizes data silos, reduces manual errors, and provides a real-time financial overview for better decision-making across the entire organization. Parting Thoughts Salesforce’s suite of products, including Sales Cloud, Salesforce CPQ, Marketing Cloud, Service Cloud, and Accounting Seed, collectively form a strong ecosystem that supports and enhances Revenue Operations. The integration of these solutions to form a Single Source of Truth ecosystem empowers organizations to streamline processes and make informed, data-driven decisions. As businesses continue to evolve, a unified RevOps strategy built on Salesforce becomes not just a competitive advantage but a strategic imperative for sustained success in the ever-changing market landscape. But you need not be alone in this journey towards RevOps excellence. Brysa, the UK’s leading Salesforce expert, can be your strategic partner and guide you through the intricacies of implementation, customization, and ongoing enhancement, thereby unlocking the full power of Salesforce. To know more about Brysa, contact us now.
Salesforce Single Source Of Truth: Benefits, Challenges, and Solutions
In the world of sales, data is everything. It provides valuable insights and tools for making informed decisions, optimising strategies, and effectively managing sales operations. However, this also means when important data is scattered across different systems, decision-making can quickly become overwhelming and unreliable for sales professionals. This is where the concept of a Single Source of Truth(SSOT) comes into the picture. It redefines the way you approach sales data management and ensures that the sales team always operates with accurate and consistent data. Here at Brysa, we strongly believe there are plenty of reasons to choose Salesforce as your single source of truth system. In this post, we will take you through the reasons for this and also highlight the challenges you might face in this process. Why should you adopt Salesforce Single Source Of Truth? The massive popularity of Salesforce has always been due to its ability to offer a single source of truth to the sales team about their sales pipeline. Salesforce is an excellent candidate for being the single source of truth due to its following features: Dashboards and reports: One can create data-rich reports and dashboards in minutes, thanks to Salesforce’s drag-and-drop interface. Highly configurable database: You can modify the Salesforce database without writing a single line of code. For instance, you can add fields or create custom objects and add them to the database. The best part is they are instantly ready for use. You can even set strong validation rules with a few clicks. Adaptable security model: Like the database, you can configure the Salesforce security model without writing code. You can easily control access to objects, fields, reports, and dashboards. Custom fields and record types: You can create them to track specific types of data. For instance, customer preferences or sales opportunities. They ensure that you always have access to accurate and up-to-date data, thereby preventing costly mistakes. Chatter and Groups: These functions ensure efficient team collaboration, improving communication and coordination between teams. This ensures that there is no miscommunication related to data. Here are a few other reasons why Salesforce is a single source of truth system: Increased Visibility: Since Salesforce offers access to comprehensive customer and business data, your sales teams can personalise their pitch and identify upsell opportunities, thereby boosting overall revenue. Improved Decision-Making: Salesforce offers valuable insights to sales teams, helping them make data-backed decisions. Using Salesforce, one can easily analyse sales trends and develop successful business strategies. Greater Efficiency: Salesforce streamlines business processes. This saves time and boosts the overall efficiency of your sales team. Enhanced Customer Experience: Salesforce helps in creating personalised customer experiences. This means increased loyalty, repeat business, and revenue via customer retention. Challenges faced by businesses while implementing Salesforce Single Source Of Truth Here are some obstacles that you might experience along with the corresponding solution: User Data Input Challenges Users sometimes miss adding data into Salesforce. This could be attributed to insufficient training or a lack of understanding of its benefits. Solution: Provide comprehensive training and support. You can adopt dynamic forms that display only relevant fields. This automatically reduces data input time, thereby encouraging users to input data. You can also utilise URL hacking to pre-fill data based on related records. This will save time and prevent incomplete or missing data. Dealing with Duplicate Data Duplicate data is another recurring issue while implementing Salesforce as your single source of truth. This can be attributed to multiple inputs or data imports from a variety of sources. Solution: You can employ third-party tools for automatic duplicate data identification and removal. You can also establish different validation rules to prevent duplicate input from users. Unique Identifier Implementation When there is a lack of unique identifiers for different records, it can lead to confusion in data retrieval. Solution: You can use different Salesforce data cleaning solutions to generate unique identifiers automatically. This will help in maintaining consistent naming conventions for clarity. Managing Technology Costs The expense of the technology required for a Single Source of Truth can be a significant hurdle for most businesses. Solution: Explore free or cost-effective alternatives and leverage open-source data integration tools to reduce costs and justify the investment. How can Brysa help overcome these challenges? As you have seen from this post, achieving Salesforce SSOT is not easy. Even though we have listed down different solutions for these challenges, it becomes a daunting task for most businesses, especially if you are planning to invest in the Salesforce ecosystem. This is where Brysa can help. We are the UK’s leading Salesforce implementation and maintenance partner who have transformed the sales landscape of several businesses. We can transform your Salesforce into SSOT so that you reap the benefits discussed in this post. Contact us to know more about how we can help.
Preventing Revenue Leakage: Solutions for Businesses
Generating profits is a top priority for businesses of all sizes. However, a common issue that businesses face is revenue leakage, which occurs when a business earns revenue but doesn’t collect it. This problem can be caused by a variety of factors, including human error, poor processes, and bad data. In many cases, revenue leakage goes unnoticed, resulting in a significant loss of revenue for the business. There are several areas where revenue leakage tends to occur, including unenforced contracts, late payments, late invoicing, data entry errors, poor accounting, high discounting, and poor revenue operations. By understanding these areas and implementing effective solutions, businesses can prevent revenue leakage and protect their bottom line. 1. Unenforced contracts One of the primary causes of revenue leakage is unenforced contracts. This occurs when a customer fails to pay for services that they have received. To prevent this, businesses should ensure that they have clear and concise contracts in place with enforceable terms. These terms should be agreed upon by both parties before any services are provided. Businesses should also have a comprehensive contract management system in place to ensure that contracts are followed and any breaches of the contract are addressed. Salesforce CPQ offers a contract management solution that can help businesses manage their contracts and ensure compliance with the agreed-upon terms. 2. Late payments This can be prevented by setting up a streamlined invoicing and payment collection process. This process should include sending out invoices promptly and consistently, following up with customers who have not paid, and providing convenient payment options. It may also be helpful to incentivise customers to pay on time. Accounting Seed provides a robust invoicing and payment collection system that integrates seamlessly with Salesforce, making it easier for businesses to manage their invoicing and payment processes (read our case study of how we improved efficiency by almost 30% with seamless integration). 3. Late invoicing To prevent this, businesses should implement a system to ensure that all invoices are sent out promptly and accurately. This system should include a process for tracking invoices and following up with customers who have not paid. Additionally, businesses can set up automated invoicing and payment collection systems to streamline the process. Accounting Seed offers an automated invoicing solution that integrates with Salesforce, allowing businesses to easily manage their invoicing and payment collection processes. 4. Data entry errors These errors can occur when data is entered manually into systems or when there are inconsistencies between different systems. To prevent this, businesses should have strict quality control measures in place, including a system of checks and balances to ensure that all data is accurate and consistent across different systems. Additionally, businesses can implement an automated data entry system to reduce the risk of human error. Salesforce offers a data entry solution that can help businesses automate their data entry processes and reduce the risk of errors (read our case study of how we integrated Salesforce-ChatGPT to transfer email inquiries into Salesforce leads). 5. Poor accounting FTX, which was the leading cryptocurrency exchange and was once valued at $32 Billion collapsed because of substandard accounting practices. This Poor accounting occurs when the accounting team fails to keep accurate records of financial transactions, which can result in lost revenue. To prevent this, businesses should have an experienced and skilled accounting team in place. This team should have a comprehensive understanding of the business’s financial processes and be able to identify areas where revenue leakage is occurring. Accounting Seed offers a comprehensive accounting solution that integrates with Salesforce, allowing businesses to manage their financial processes efficiently. 6. High discounting While it may be necessary to offer discounts to customers to incentivise them to buy, excessive discounting can eat away at profits. To prevent this, businesses should have a clear pricing strategy in place based on the value of their products or services. By understanding their value proposition, businesses can charge a fair price that customers are willing to pay, without sacrificing profits. Additionally, businesses can train their sales team to sell based on value rather than price, to reduce the need for excessive discounting 7. Poor revenue operations When different departments in the business are not communicating effectively, it results in lost revenue opportunities. To prevent this, businesses should have clear communication channels in place, including a system for different departments to communicate effectively. Additionally, businesses can ensure that everyone is working towards the same revenue goals, and they are not missing out on any revenue opportunities. This can be achieved by having cross-functional teams to promote collaboration, ensuring that everyone is aware of their responsibilities, and regular communication with all departments. Salesforce offers a revenue operations solution that can help businesses manage their revenue operations more efficiently. In conclusion, revenue leakage can cause significant damage to a business’s bottom line. However, by understanding the causes of revenue leakage and implementing effective solutions, businesses can protect their profits and promote growth. At Brysa, we specialise in helping businesses optimise their revenue streams. As a Salesforce and Accounting Seed partner based in London, UK, we have extensive experience in revenue management and can help businesses implement the right processes and procedures to prevent revenue leakage from happening. Our team of experts can provide valuable insights and recommendations to streamline processes and ensure businesses are collecting all the revenue they are owed. In addition to revenue management services, Brysa offers a range of services that help businesses maximise their Salesforce investment. We provide tailored Salesforce solutions, including consulting, development, integration, and ongoing support, to help businesses achieve their goals. Our team of certified Salesforce professionals works closely with businesses to understand their unique requirements and develop customised solutions that meet their needs. If you’re concerned about revenue leakage and want to ensure that your business is running at peak efficiency, contact Brysa today. We’re here to help you achieve your revenue goals and take your business to the next level.
FTX and beyond: scaling beyond QB with Accounting Seed and Salesforce
The collapse of FTX, a cryptocurrency exchange run by Sam Bankman-Fried, has shed light on the limitations of finance and accounting software for fast-growing medium-sized businesses. John Ray III, the new CEO, testifying in front of the United States Congress, highlighted that FTX used QuickBooks, a popular accounting software, but that it is not suitable for a multibillion-dollar company. QuickBooks is a great tool for small businesses, however, as a business grows, it requires more advanced features such as automation, scalability, and real-time reporting. QuickBooks simply cannot keep up with the growing complexity of financial operations. This is where accounting and finance software like Accounting Seed and Salesforce come in. Accounting Seed is a cloud-based accounting software that offers a seamless, scaleable process for businesses. It is built on the Salesforce platform, which is considered as the most innovative business enablement technology platform. This allows businesses to have a single platform for all their operations, from sales and marketing to accounting and customer service. One of the biggest advantages of Accounting Seed is its ability to automate many of the manual processes that are required for accounting. For example, it can automatically generate invoices, reconcile bank statements, and generate financial reports. This not only saves time but also reduces the risk of errors. Another advantage of Accounting Seed is its ability to scale (read the detailed comparison between Accounting Seed and its competitors like QuickBooks, Sage and Xero). As a business grows, it can easily add more users, modules, and features to the software. This allows businesses to keep pace with their growth and ensure that their accounting processes are always up-to-date. When Salesforce is integrated with Accounting Seed, businesses can get a complete view of their financial performance and customer interactions (read our case study of how we improved efficiency by almost 30% with seamless integration). This allows them to make better-informed decisions and improve their bottom line. In conclusion, Accounting Seed and Salesforce are powerful finance and accounting software that offer businesses the ability to save time and money, while also providing the scalability and automation needed for fast-growing medium-sized businesses. They are a great alternative for businesses that have outgrown QuickBooks and are in need of more advanced features to manage their financials. If your business is looking to implement Accounting Seed and Salesforce, Brysa consulting can help. Our team of experts specializes in Accounting Seed consulting, Salesforce finance consulting, and Salesforce implementation. We can help you with every step of the process, from planning and implementation to training and ongoing support. Contact us today to learn more about how we can help your business grow with Accounting Seed and Salesforce.
Why invest in Accounting Seed over Xero or Quickbooks?
As a decision maker in a business, you have no doubt considered various options for managing your accounting and financial operations. While Xero and Quickbooks are both popular choices, it is worth considering the benefits of using a platform like Accounting Seed. While it may be more expensive in the short term, it offers several advantages that make it a worthwhile investment for businesses looking for a long-term solution. Integration with Salesforce One of the key advantages of Accounting Seed is its seamless integration with the Salesforce platform. If your business is already using Salesforce, implementing Accounting Seed can help streamline processes and reduce the need for manual data entry and synchronization between different systems. Advanced Features Tailored to Business Needs Accounting Seed offers a range of features that are tailored to the needs of businesses, including tools for managing accounts payable and receivable, generating financial reports, and tracking project costs. It also includes advanced features such as multi-currency support and the ability to handle complex revenue recognition rules, making it a particularly good choice for businesses in industries with unique accounting needs. Scalability and Customization Another advantage of Accounting Seed is its scalability. It is designed to handle large volumes of transactions and can be customized to meet the specific requirements of your business. This makes it a more future-proof solution than some of the other options on the market, which may not be able to keep up with your business as it evolves. Short-Term vs. Long-Term Costs While it is true that Accounting Seed may be more expensive in the short term, the long-term benefits it offers make it a worthwhile investment. By streamlining processes and providing a range of advanced features, it can help your business save time and money in the long run. In addition, the scalability and customization options make it a more flexible and adaptable solution that can grow with your business. Overall, while Xero and Quickbooks may be more well-known options, it is worth considering the benefits that Accounting Seed can offer. Its integration with Salesforce, advanced features, and scalability make it a strong choice for businesses looking for a long-term solution for their accounting and financial operations. Working with a partner like Brysa can further enhance the implementation process and provide ongoing support to ensure that you are able to fully leverage the capabilities of the platform. Also, you can be confident that you have a dedicated team by your side to ensure that the transition to Accounting Seed is smooth and successful. We can work with you to customize the platform to meet the specific needs of your business, and provide ongoing support to ensure that you are able to fully leverage the capabilities of Accounting Seed.
As a CFO or FD, what key benefits of Accounting Seed you need to know about?
As finance directors and CFOs, it is essential to have a robust and reliable system in place for managing the financial operations of your organisation. One tool that has the potential to revolutionise the finance function of your organisation is Accounting Seed. Accounting Seed is a cloud-based accounting software cloud-based accounting software that is specifically designed for use in small to medium-sized businesses. It offers a wide range of features that can significantly improve the way your finance team operates. Here are some key benefits of using Accounting Seed (read the detailed comparison between Accounting Seed and its competitors like QuickBooks, Sage and Xero): 1. Streamlined and automated workflows: Accounting Seed automates many of the tedious, time-consuming tasks that are involved in financial management. This frees up your finance team to focus on more high-level tasks, such as analysing data and strategising for the future. Additionally, the software is highly customisable, allowing you to tailor the system to the specific needs of your organisation, streamlining processes and increasing efficiency. 2. Integration with Salesforce (read our case study of how we improved efficiency by almost 30% with seamless integration): If your organisation uses Salesforce, Accounting Seed can easily integrate with the platform, providing a comprehensive view of your financial data within the same system you use for customer relationship management. This can save your finance team time and effort, as they do not need to switch between multiple systems. 3. Real-time financial reporting: Accounting Seed offers real-time financial reporting, allowing you to access up-to-date financial reports anytime, anywhere. This means you can make informed business decisions based on the most current data available. 4. Scalability: Accounting Seed is designed for small to medium-sized businesses, but it is also scalable to meet the needs of growing organisations. As John Ray III, the CEO of FTX, highlighted that FTX used Quickbooks, a tool not suited for multi-billion dollar companies. Quickbooks is a great tool for small businesses, however, fails to accommodate growth. Overall, Accounting Seed is a powerful tool that has the potential to revolutionise the finance function of your organisation. Its ability to streamline and automate workflows, integrate with Salesforce, provide real-time financial reporting, and scale to meet the needs of growing organisations can greatly improve the efficiency and effectiveness of your finance team. If you are a finance director or CFO looking to modernise your organisation’s financial management system, consider giving Accounting Seed a try. Partnering with a knowledgeable and experienced team can greatly improve the implementation process. At Brysa, we are proud to be Accounting Seed partners, offering expert guidance and support to help your organisation get the most out of the platform. Our team has extensive experience with Accounting Seed and can assist with everything from initial setup and configuration to ongoing training and support. We can work with you to customise the system to meet the specific needs of your organisation and ensure a smooth and seamless transition to the new software. By partnering with Brysa for your Accounting Seed implementation, you can trust that you are in good hands. We are committed to helping your organisation realise the full potential of the platform and achieve success with your financial management system. So, if you are considering implementing Accounting Seed, don’t hesitate to reach out to our team for expert guidance and support.
