DBSync provides on-demand software as a service (SAAS) solutions that integrate and synchronize critical accounting, CRM, ERP, databases and Healthcare apps that your business relies on.
Since COVID-19 has taken the world into the abyss, the e-retail business has become more and more popular. Many shops and small business owners have moved their products to online stores. Giants like Amazon and eBay have received more number seller listings during this year like never before.
All these online stores have somehow reduced the physical workforce but the various eCommerce applications have taken advantage of this situation to increase their Sales.
Shopify is one of them which has gained more popularity over this period and thus providing a cost-effective way to move small businesses online. With just $29 Per Month, you can move your business online and increase your reach to a global audience.
It’s not only the sales which are affected, but the financial world has also taken a hit as well. The daily inflow of money for these businesses is really important, which accounting applications like QuickBooks have managed it really well. Starting from just $12 per month, QuickBooks provides a pretty convenient way to send invoices out and receive the payments.
All these applications had made B2B and B2C cost-effective, but this phenomenon is getting bigger and bigger as more merchants are moving to online space thus making automation a necessity. Nowadays, automation is not just the buzz word, it’s imperative for these businesses.
Start Automating Your eCommerce from 1 platform!
Optimize your order-to-cash process by synching order and fulfillment data from multiple channels with QuickBooks.
DBSync Cloud Workflow makes this automation even more simple, easy to implement, and deploy. With just under $200 p.m. you can automate your complete eCommerce business starting from “Order fulfillment” to receiving payments with Shopify and QuickBooksand tracking shipments with Shipstation. DBSync provides a trouble-free and seamless integration between Shopify and QuickBooks by pushing your order data to QuickBooks to create invoices in almost real-time, Thus, avoiding any human intervention. It saves business owners close to $30,000 USD per year on an average in terms of overhead cost and also saves a ton of time in automating mundane manual work.
As an automation partner, DBSync not only helps in accounting automation, it also allows you to automate your inventory stock update changes and keep your Shopify stock updated at all times. Whenever a product is sold, the inventory for the product gets reduced in Shopify. With DBSync integration, those incremental inventory stock on hand updates can flow into QuickBooks and notify the purchasing team and generate a purchase order for a given SKU if the stock needs a refresh.
On the other hand, when the stock comes and that PO is received, those changes are reflected back to Shopify and making a particular product SKU available for ordering. This data-flow alone makes it super easy operationally, without needing any manual intervention.
Automated Shipment Processing
At the same time, the DBSync allows you to process shipments with its almost real-time integration with Shipstation. It not only pushes orders to Shipstation, but you can also generate tracking numbers via this automation. Thus completely harnessing the power of iPaaS, by reducing human effort in Order fulfillment and Order-2-Cash cycle.
With day-to-day competition in this growing market, automation has become an integral part of all businesses. The optimization in identifying buying patterns to fulfilling customer needs and eventually getting the all-important payments into your bank account, automation is pretty much lifeblood of your business. DBSync CloudWorkflow for Shopify is pretty much at the heart of these automation orchestrating data-movement and process integration with various business applications like Shipstation, POS systems accounting and so on.
Conclusions:
In a nutshell, the right eCommerce solutions can boost your business and the bottom line, but a good automation solution can take your business to new heights giving you the much-needed edge. Given the unprecedented situation where work from home or working remote is the new norm, cloud solutions like DBSync can provide effectiveness and scalability to your businesses irrespective of your geography.
It’s been only a few weeks since we announced our Partnership with ServiceMax, and we can see the excitement among the enterprises signing up for the integration service.
ServiceMax is a leading provider of field service management solutions through its field service management tool built on top of Salesforce. It offers on-demand solutions that automate operational planning such as workforce optimization, advanced scheduling and dispatch, parts logistics, inventory and depot repair, and installed base entitlements.
With its real-time cloud integration solution, DBSync will connect ServiceMax to a variety of enterprise systems such as QuickBooks, Microsoft Dynamics GP, Intacct and Accounting Book. With the integration support introduced by DBSync, the ServiceMax users will have easy access to various records such as
Accounts
Contacts
Work Orders & Work Details with Customers
Jobs and Invoice & Line Items
The features of the DBSync support for ServiceMax & Accounting apps like QuickBooks Integration are:
Easily extend, map and create new business processes and mappings
Supports custom objects in ServiceMax
Supports Data Extension in QuickBooks
Supports Multi-Company database Integration
Migrate data from Accounting to ServiceMax or vice-versa
Through this support, the users will be able to improve productivity by reducing double data entry and increase data visibility across multiple systems. They’ll have a seamless experience by reduced A/R by automating payments, reports, workflows and alerts. They can also integrate with other applications like eCommerce to simplify business.
Benefits that you can reap through the integration of Accounting or ERP System from ServiceMax are:
DBSync for ServiceMax & Accounting integration integrates ServiceMax to QuickBooks, Microsoft Dynamic GP, Intacct and Accounting Book.
DBSync for ServiceMax & Accounting integration provides an easy to use application to synchronize Accounts, Contacts and Work Orders to Customer, Jobs and Invoices and many more into your Accounting system.
Track Cash to Close and AR analytics to manage your customer more effectively.
The application provides a pre-built field map along with a flexible advance mapping capability and configuration capability. The application also has an automatic online update so you never have to manually upgrade your application.
For more information on ServiceMax integration, visit our page: https://www.mydbsync.com/integration/servicemax
Inventory management software has become an indispensable tool for many successful business owners who recognize the importance of accurate inventory management. Likewise, accounting software is invaluable for even small businesses, providing critical data on business performance. Inventory management software is a must for a business of any size, and so is accounting software to improve efficiencies and organize businesses smartly. Accounting software defines your company’s current standing, while inventory management software is used to maintain inventory health. Inventory management is about knowing what you have in your warehouse and where your stock is located. However, unless it’s integrated with your back-office systems, an inventory management system alone can’t effectively optimize your inventory nor ensure the inventory asset value on your financial reports matches what is physically in stock — at least not without manual, arduous intervention and reconciliation.
Many companies will already have accounting software in place and a system for their inventory management. However, these two systems may operate independently of each other despite having a lot of information worth sharing. In order for inventory management to be effective, it needs to communicate with multiple aspects of the business. Although inventory management software can track physical inventory stock, it needs to integrate with other business parts to yield the best possible optimization.
Two of the most strategic systems to link together are online inventory management software and accounting systems. By combining these two systems, it allows a company to streamline information efficiently. This will enable them to plan better and make better decisions. Forecasting can be more accurate, and manual reconciliation mistakes can be minimized. These two entirely different business components can be incorporated for better management that gives your business a competitive edge while reducing risk, saving money, and automating the processes.
This article examines why integrating both inventory and accounting software is so essential and beneficial for business owners. In doing so, we can show you how you can maximize the potential of both by fusing them using DBSync iPaaS for seamless and hassle-free integration.
Investing in iPaaS provides an enterprise with a Managed Integration Solution that can smartly automate the complete inventory management irrespective of your data sources and allows centralized control over the enterprise’s stock movement. It should also provide complete flexibility in controlling data integrity.
Precise and coordinated inventory management is vital to a business’s success, so the level of functionality that system alerts provide can be a driving force behind improving processes and cutting costs for the organization.
A sound inventory management system can be the critical difference between your business growth or failure.
The top 5 benefits of Integrating your inventory management system with accounting can be listed as follows:
Prevent Out stocks and overstocks situations
Optimizing inventory stock helps maintain customer satisfaction and avoid wastage. Storage and handling costs are associated with every inventory item stored. So collecting excess inventory stock will lead to unsold items sitting on shelves, which is a cost in itself and even more so if items become damaged or obsolete. However, on the other hand, having a shortage of items will lead to missed sales opportunities and disappointed customers.
An integrated inventory management and accounting software solution can increase data analysis accuracy and provide valuable insights such as sales forecasts and cash flow. Solutions with real-time visibility will benefit businesses in planning out more accurate inventory stock levels required for demand.
With the right amount of inventory stock, you can manage the expectations of customers and investors. Customers want instant satisfaction, meaning that they want the product available when they want it. They don’t tolerate waiting when there are so many other places to shop. However, investors want to minimize working capital that is being held in excess inventory. If your accounting system communicated with the inventory system, you could plan to have the right stock based on sales orders and previous accounting history.
As DBsync, we make this possible by making the systems talk. With DBSync iPaaS, we make sure that all systems get the updates when inventory fluctuates. For instance, customers using Quickbooks to manage their finances and Skuvault for inventory management can benefit from DBSync’s iPaaS integration, enabling bi-directional mapping between the two. DBSync has helped these applications to share data at the most granular level by integrating all these applications overcloud
One of the many COVID-era lessons learned the hard way by commissaries and other offsite providers, and their retail partners is that it’s more important than ever to know your inventory and to limit budget-busting waste. The value of inventory management systems has become even clearer during a disruptive event like the pandemic, said Joe Smirlies, senior vice president of Periscope.From a production planning and ordering perspective, a perpetual inventory position is used as a measure of reality on how product has moved from the shelves and is constantly used against any future need assessment which has to be also tied to the accounting software to realise the actual growth and strength of the company.
Integrating inventory management and accounting software means that many processes usually performed manually can become automated. This reduces the need for an excess number of hands-on-deck, reducing time pressures and error risk.
A significant part of a business’s expenditure is spent on labor costs. When integrating inventory management and accounting software, the chances of unnecessary labor-intensive manual feeding of components that relate to each other are reduced – saving time and money.
With DBSync iPaaS, you can drastically reduce labor costs and the risk of human errors, which directly impacts business growth and improves automation.
Provide visibility to supply chain partners
For companies with multiple supply chain partners, ensuring they have maximum visibility is key to ensuring productive working relationships. Allowing inventory level visibility to the supply chain partners will help them manage customer shipments effectively. The best way to do this is by integrating inventory management and accounting software.
Aside from its symbolic role – that is, in showing that you trust your suppliers with important information – providing this visibility also has a functional role. Fusing the inventory and accounting software will allow supply chain partners to see your fluctuating inventory levels so that they can proactively ensure you have enough to fulfill customer demand.
Compiling accurate financial reports
Every business needs to check inventory stock with accounting data to avoid discrepancies. Accuracy is vital for key stakeholders and investors, not only accurate financial statements for tax purposes. If there are continual significant discrepancies, then root causes should be investigated. Integrating your inventory management system’s transactions with the back-office accounting system will help remove complications, mistakes, and delays.
Any successful business owner will understand the importance of regularly creating financial reports to identify what is working and not. This is a difficult task to do without accurate information about inventory and accounts, so integrating inventory and accounting software is the best way forward.
By integrating both software systems, business owners, inventory managers, and accountants will work more effectively together. More collaboration and communication can mean more effective decisions, and it is these things make your business superior to competitors.
Easy reconciliation of data
By integrating inventory management with accounting software, you can easily enable data reconciliation, which plays a vital role in business operations.
Tracking your inventory is one of the most complex and challenging automation to execute. As the number of sales and purchase orders increases, it becomes much more challenging to track inventory item movements and stock-on-hand updates. DBSync IPaaS solves this problem and ensures easy reconciliation of data across all applications.
Work with DBSync and reap more benefits, as mentioned below:
Better ROI
DBSync iPaaS is the best fit for your organization and value add and the right investment for solving all inventory management issues while integrating with accounting software, making it an easy solution which is time-saving and cost-effective
Enhanced Automation
Integrating two of your business’s most vital software into one platform streamlines processes and with real-time solutions, the data available increases automation in the business. The crucial decisions can be based on the output from the integrated software, uncovering potentially valuable insights for inventory management decisions and also allows for efficient and accurate financial reports that can be obtained effectively through the integration.
Determining your business’s right inventory management system and a strategy for back-office integration requires assessing your needs today and your plans for future growth. To achieve maximum benefits, integrating inventory management and accounting software solutions should be real-time, flexible, transparent to users, reconcilable, and scalable.
Fast & Secured Integration
DBSync iPaaS pre-built templates assist you in connecting your accounting software to inventory management systems within minutes. Our in-built scheduling and queuing of data flow ensure critical business objects like customers, items, invoices, and orders are not duplicated, and integrity is maintained.
A delicate balance
DBSync iPaaS ensures a delicate balance in managing your inventory and the accounting related to it. As any seasoned inventory manager knows, striking a balance between holding too much and too little stock can be a daunting task. If you order an excess amount that exceeds demand, you will have valuable cash tied up in obsolete stock. On the other hand, failing to order enough inventory to meet demand will result in dissatisfied customers.
This is where integrating inventory management software and accounting software will come in handy. By combining the two, business owners and inventory managers will have more to work within more accurate analysis and insights into the company’s needs.
Such integration will allow for more accurate information, leading to improvements in sales forecasts and cash flow. Further, getting this information in real-time will enable inventory to be assessed accurately in line with demand, purchase orders, and sales. All of this comes as a given solution by using DBSync iPaaS.
Conclusion:
With DBSync iPaaS, you can leverage seamless integration to provide greater visibility into ordering and fulfillment, deadstock, and safety stock notifications. Product purchase forecasting can be done using DBSync iPaaS by analyzing QuickBooks sales data and correlating it with stock movement over a specified period. The real-time inventory replenishment and movement status can be synchronized with all enterprise applications to determine product availability and reduce shipment time and cost by notifying.
We at DBSync are excited to empower our mutual customers with greater transparency, reduced errors during fulfillment and in handling returns, which ultimately enables them to deliver a seamlessly accurate, transparent, and efficient experience for all businesses
There are a lot of questions about Shopify and
QuickBooks integration.
What is it exactly? It is something that my business or organization needs to
do? If so, how? What are the benefits? How do I get started?
Nowadays, there is a bit of a hype about integration. But be assured, it is a
powerful, long-term approach that your business needs to leverage in order to
prosper in the present competitive environment.
In this article, you will learn why and how to integrate two important apps:
Shopify and QuickBooks. It won’t answer all your questions. But it will equip
you with a solid foundation on the benefits and best ways to apply this
approach.
Benefits
Benefit 1:
synchronize your sales, product and customer data
QuickBooks and Shopify are two different apps, but
they complement each other. For this, synchronization between both of them is
key.
Imagine your online store, successfully selling your products, but totally
disconnected from your accountancy. You will have to create the link via a
human task, which is time-consuming, costly and prone to errors.
Now, you decide to integrate both of them. The human is replaced by automation.
Now your invoices and payments keep pace with your orders. Your inventory
management is updated in real time, based on your orders. Your product and
customer data are organized in a complete manner, becoming useful information.
Benefit 2: keep
your accounting always accurate and up to date
Good accountancy keeps friendships, says the old
Spanish phrase. And, that is true: good friendly relationships ensure trust,
avoid problems with authorities, help compliance, and more.
An accountancy that is coordinated with your online sales in an automated
manner, gives you an accurate and up to date source of information, and reduces
time and effort with reconciliations in QuickBooks.
Benefit 3:
obtain a true view of your business
Accurate and updated information is foundational to
good business decisions. How to plan sales or production if you cannot know how
many product units you have in inventory? How to plan your taxes if your sales
are not accurately and timely represented in your books?
An integrated source of data captures the wider canvas in which the totality of
the reality of your business can be painted, giving you a true view of your
business.
Even more, in this age of AI and powerful machine learning algorithms, a proper
and complete source of data can become invaluable when considering using
business intelligence tools.
How to integrate them
DBSync’s Shopify and QuickBooks Integration
provides a simple and easy solution to synchronize order and fulfillment data
from multiple channels with QuickBooks, optimizing your order-to-cash process.
Creating an integration process is easy with DBSync. Just follow these steps:
Step 1: Create a
project
First of all, you need to create a new project that
includes all the required process integration information. For this, click on
the Create New Project button, and assign it a name.
Figure 1: Create
new project screen
Step 2: Create a
QuickBooks connector
Now, you need to create a connector to your online
QuickBooks source. In order to do so, click on the Create New Connector button.
You will see a screen asking for a name and a connector type. Input a relevant
name of your choice, and select QuickBooks Online Rest Connector from the
drop-down menu.
Figure 2: Create
New Connector screen
The system will then ask for your QuickBooks
credentials, and once accepted, the connection is established, and a
confirmation screen appears.
Figure 3: Intuit
connection page
Figure 4:
Confirmation screen
Step 3: Create a
Shopify connector
Similarly to the previous step, the creation of a
Shopify connector only differs in the connector’s type choice: in this case,
you need to select Shopify Connector from the drop-down menu. Then, you need to
input your Shopify credentials.
Figure 5: Create
New Connector screen
Figure 6: Shopify
login screen
Step 4: Create a
process
In order to create a new process, click on the
Create New Process screen, give a name to your process and save it.
Figure 7: Create
New Process screen
Step 5: Create a
workflow
Processes are composed by a set of workflows. You
can have several workflows in a process. In order to create a new workflow,
click on the Create New Workflow button and assign a name to it.
Figure 8: Create
New Workflow screen
Step 6: Create a
trigger
Your next step is to define the data source from
where the process will then read the data. This information is contained in a
trigger; which, in order to create a query, requires a data source connector
and a source table. This query can be manually modified by using the Advanced
Query Builder.
Figure 9: Trigger’s
parameters
Step 7: Create a
rule
Now, you need to create one or more data
destinations. This is done via the creation of rules. Each rule needs a data
source connector, an operation (such as update or upsert), and a destination
table.
Figure 10: Create a
rule screen
Once you have defined your data destination, you
need to create a map between the data source and data destination. This is
easily done with DBSync. You simply need to map the fields between both data
components.
Figure 11: Mapping
of parameters
Step 8: Run the
process
Now you have everything you need. You can run the
process and obtain your results. While the process is running, the console will
show you the results obtained step by step, until termination.
Figure 12: Console
Step 9: Check
the logs
It is important that you check the logs. They are
available through the main menu, and give you information on the number of
records read and written, and in case of a failed run, information on errors
encountered.
Figure 13: logs
Best integration practices
When integrating
data, have a business goal in mind
Data integration is about transforming data. Now,
this transformation must be based on a purpose, which in turn, it must be
defined by a business goal.
So, when you begin thinking about integrating important apps such as QuickBooks
and Shopify, start with this question in mind: what do I want to achieve with
my business?
Business goals can be of many natures: speed up order-to-sales processing,
reducing costs by replacing personnel with automation and therefore, decreasing
the number of human errors, and many more. They are basically defined in the
different benefits that you can obtain by integrating.
A data
integration solution should have an architecture
Having an architecture simple means “think before
you act”. Or, as carpenters say: measure twice before you cut.
Having an architecture is essential because it affects scalability, costs, the
capacity to support real-time integration, and the interoperability with other
tools.
Very important, your architecture must be based on your business goals. It must
be an expression of them.
Data integration
is a value-adding process
As you now know, integration is synonymous of data
transformation with a purpose. In other words, it is adding value to your
ecosystem, as the final result is a new “product” that is more valuable than
the original “material” on which it is based.
And, the added value is the foundation of your profits!
Final words
In this article, you have learnt the value of
integrating QuickBooks and Shopify. You have seen how to do it in practice by
using DBSync. And finally, you have realized the importance of merging your
business goals with your integration architecture.
Once you apply these principles, the added value will transform into profits
up. Ready to start? Visit our page at http://www.mydbsync.com/
