Top 3 Accounting Software Integration Solutions

Successful business development is possible with a high-quality accounting system. Today there are many accounting software solutions. In this article, we are going to consider the best alternatives that will be suitable for your business structure.

The necessity of the accounting software integration solution

Today, accounting has taken an important place in its functions in the business world. Accounting plays a crucial role in the activities of the organization. It is important for every business that financial information about business operations is kept up to date and monitored by the organization. Accounting involves various processes, from simple to complex and even burdensome. Companies must keep up with constant changes in information technology to maintain highly accurate and up-to-date records.Due to the complexity of the accounting system, the increasing vulnerability to errors, and the growing volume of accounting transactions, a system was needed that could process and store accounting data with increased speed, huge storage, and processing capabilities.

When automating accounting, it is important not only to transfer all paperwork to a computer. This must increase the efficiency of the accounting department and improve control over the financial and economic activities of the company, which in turn will increase the productivity of enterprise management. Thus, modern companies use various digital platforms to automate and simplify accounting procedures. 

Top 3 software solutions for efficient accounting system

Currently, there is a wide choice of different accounting automation systems. All of them are good and their capabilities find practical application in enterprises of various sizes, profiles, and activities. When automating, you should choose the necessary software, based on your tasks and available resources.

So, we offer the list of top 3 software solutions to make your accounting management more productive:

  1. Zoho Books proves that you don’t need to install special software on your desktop to take full advantage of a complete set of accounting tools. Zoho Books is a cloud-based accounting solution that is available anywhere and provides a comprehensive experience, from order creation to invoicing
  2. Xero has a strong focus on two seemingly different goals: improving ease of use and providing comprehensive accounting functionality. With a very well-designed interface, the application simplifies double-entry accounting and other complex accounting tasks.
  3. Virtual data room (VDR) is a flexible software solution for implementing a system for secure exchange and collaboration with files both within the company and with external counterparties.

The functionality of the virtual data room

The implementation of VDR into corporate information structure will ensure:

  • Full control of access to data. The system provides ample opportunities to personalize access to data for different user groups. All actions of users and administrators in the system are logged. The software allows you to implement a flexible process for requesting and agreeing to add counterparties with whom you plan to data exchange.
  • Increasing collaboration productivity. Users can jointly edit documents, spreadsheets, and presentations directly in the application’s web interface, or with a familiar editor. Each modification of the file is stored in the version history, which allows you to restore any changes.
  • Data security. Data room allows you to organize a flexible system of file checks at various stages of the exchange: when uploading, transferring, receiving from a counterparty, and changing. The system is deployed in a corporate infrastructure, private cloud, or in or at a trusted service provider’s data center. You can also configure file vault encryption to protect operating systems, virtualization, storage, and backup administrators from accessing content.

Here’s how to make sure your Virtual Data Storage is bulletproof

The most important task of software that implements data management in the form of a Virtual data room is to manage data efficiently and to store it securely in the course of this. So, how to make sure that the software is bulletproof?

The peculiarities of Virtual Data Storage

The high level of dynamism of the external environment significantly affects the business processes of each enterprise. Under such conditions, it is advisable to form a holistic management system, which should be based on the principles of adaptation of business processes to the external digital environment, which will implement the main business goals of the enterprise. Today Virtual Data Room performs functions of such management system as the platform helps to organize the efficient workflow providing secure data storage and collaborative tools.

The main advantages of Data Room storage are convenient to access to enterprise information and reliable data protection through automatic backups. In addition, a key benefit of Data Rooms is that business users can take an active part in improving business processes through simple and intuitive tools. Systems of this class do not compete and are not an alternative to other accounting systems, but on the contrary – unite them in a single unified management environment. They connect all the company’s business processes, allowing them to be managed more efficiently. In other words, Data Room is an integrated set of tools for modeling business processes, automating their execution, and measuring efficiency. Most virtual storages provide the ability to open access to files, collaborate on them with other users. And all these manipulations can be carried out in real-time. 

The implementation of these aspects of process management in systems of this class is provided by their three components: the means of building processes, their implementation (platform), and monitoring (process log).

How to check the Data Room capacities?

There are many factors to consider before choosing the right software for your business. Regardless of the industry sector, the main product and the specifics of the work of the Data Room providers, all software of this type is characterized by the following features:

  • Consistency: all application processes, software applications, and corporate data storage are integrated into a coherent system of online information exchange. The structure of business processes and information systems of the enterprise is built following the universal architectural approaches.
  • Flexibility: Agile principles are embedded in all operational and management processes: a Data Room responds to changes in the external environment through the constant collection and automatic analysis of Big Data, quickly adapts its products and services to customer needs through continuous feedback, and also conducts permanent continuous monitoring of their internal processes and measures to optimize them.
  • Efficiency: by continuously improving the quality of products/services and increasing the level of customer satisfaction through the optimal use of Big Data, a data-driven company increases the number of customers and total revenue, reducing its time, labor, and material costs to achieve fast and meaningful results.
  • Security: the Virtual Data Room should be secure enough to protect your data, including by way of individual/document-specific access controls and password protections.In this context, for example, dynamic watermarks, secure registration, special authentication methods, or access that is limited in terms of location and time can ensure reliable protection.

Besides, Virtual Data Rooms must therefore fundamentally meet the mandatory requirement of a high level of data security. This property should always be the most important criterion when choosing a suitable data room provider.