Since the launch of QuickBooks in 1994, it has become the leading accounting software for small-to-mid-sized businesses. Hands down. It has more than 75% of the market share and approximately 29 million users. And because of its popularity, hundreds of complementary software applications offer out-of-the-box integrations with QuickBooks, making it seem very easy to keep data across these applications in synch.
But these integrations come with their challenges as a quick Google search will confirm.
There are thousands of blog articles written on the topic. According to the U.S. Chamber of Commerce, “QuickBooks sometimes has trouble connecting with networks, often resulting in lost connection to data files. Even a minor issue in your network can cause you to lose connection entirely, which may be a major issue if you’re trying to send invoices or payments.”
And while technical issues are a real challenge, they are not the only one. Another issue is that not all out-of-the-box integrations address accounting and finance teams’ needs. For example, the integration between HubSpot, a popular CRM application, does not automatically push invoices to QuickBooks when deals are converted to closed won. There are a series of manual steps that need to take place. And sometimes out-of-the-box is not even offered.
According to Generation CFO, “Its ubiquity of Excel is so fixed in our minds that even when accounting and finance professionals have better tools available to them, they would rather resist changing to the new tools and continue using Excel even though it extends the time it takes them to do their work and the quality of their job, i.e. I’d rather do loads of data preparation (which is automatable) than data analysis (which is less automatable)!’” – Don’t be this finance and accounting person. Adapt and grow into automation with iPaaS and resist the urge to not change.
To address integration issues commonly afflicting QuickBooks many companies are now deploying standalone integration software commonly referred to as iPaaS. According to G2, iPaaS is a scalable solution for software integrations.
-One platform offering a common way to manage all integrations
-No need to call on IT resources that have other priorities or are expensive to hire
-Ability to tailor integrations to your unique needs on your own
-Access to knowledgeable support staff to troubleshoot integration issues
Other benefits:
Eliminate manual and duplicate entry: Integrating QuickBooks mitigates the risk associated with manual data entry such as dual entry.
Improve data accuracy: Human error is the leading cause of financial inaccuracy. In fact, In 2012, JP Morgan was hit with $6 billion trading loss due to Excel copy-and-paste error. Each time data is manually entered into QuickBooks, there’s the chance of errors being introduced.
Improve speed of data exchange: By eliminating the time-consuming manual data entry process, you gain efficiencies.
Free up valuable resources: Focus your time and resources on other high priority work, instead of tedious manual data entry.
Streamline organizational processes: Integrating QuickBooks helps interdepartmental functionalities.
-DataBlend can handle custom fields
-Setup included for standard workflows
-Data forensics and monitoring of workflows
DataBlend’s goal is simple - to deliver Fast, Secure, Worry-Free integrations of everyday financial applications relied on by CFO's, Controllers, Finance and Accounting professionals.