9 Common Workflows Between Your B2B Store and Cloud Accounting Solution

Designing logical workflows is a great way to streamline your business processes, especially when you add in automation for repetitive tasks. In fact, research from Zapier shows that 88% of SMBs say automation enables them to compete with larger companies, citing the ability to move faster and reduce human error as key benefits.

But workflows don’t have to stay within one tool—they can span two or more solutions, ensuring seamless data flow across the business.

For an online B2B company, creating workflows between your store and cloud accounting solution makes sense. But how does that work? Let’s explore some common examples.

1. Simplifying your business workflow

By connecting your online store and accounting software, you guarantee data flows smoothly and quickly between both areas. Design a workflow with as few steps as possible, and make sure it clearly shows what should happen at each stage. For more complex tasks, denote which steps are fully automated and where humans need to be involved.

2. Syncing orders and sales data

Set up a workflow to extract valuable information from orders and add it to customer records. You’ll build a history that enables the accounts team to see previous and upcoming payments and provides insights into popular products.

You can also identify high-value customers and reward their loyalty. For example, you could automatically offer special discounts to those who’ve made a certain number of purchases.

3. Inventory management and sync

Being aware of your best-selling (and underperforming) products is also essential for inventory management, so it’s useful to create a workflow that shares this data. You can then put together an accurate forecast and set a budget for the next quarter.

On top of this, you can set the system to notify you if the physical inventory doesn’t tally with your balance sheet.

4. Customer and contact sync

B2B companies are built on trust and relationships. So it’s important to maintain accurate customer records to avoid invoicing the wrong client or billing them for the wrong amount.

An automated workflow can sync your contacts across the business to make sure that there are no duplicate records or other errors. Plus, customer details are easily accessible to whoever needs them.

5. Streamlining financial data

Accurate financial records are equally crucial, and well-designed workflows pull in the relevant data from your online store. You can keep a close eye on budget, profit and loss, and how much you owe in taxes.

You can also track online sales across different countries and states to comply with sales tax laws. Centralizing your financial information will make life easier at the end of the year—or if you get audited.

6. Automating invoicing and billing

Creating and sending invoices is a tedious task prone to human error. An automated workflow eliminates manual data entry, as relevant information is pulled from customer orders. But it’s not just about billing customers—you can set up workflows for paying invoices, too.

For instance, an automated accounts payable solution helps you to pay on time and keep on top of your cash flow. It will also minimize costs and improves your relationship with suppliers.

7. Reporting and analytics integration

As well as syncing data between your online store and accounting solution, you can create workflows that run analytics on that data and generate reports. In doing so, you’ll reveal critical trends and patterns to identify areas for improvement. They’ll also tell you if the workflows themselves are working well or need tweaking.

8. Enhancing purchase orders and vendor management

Workflow automation accelerates your purchasing process by removing manual steps. For example, you can program purchase order systems to automatically generate a PO when stock falls to a certain level or a request is approved. You can also create rules for choosing appropriate suppliers.

On top of this, vendor management becomes easier, especially if you implement an automated portal. Vendors can log in and see payment status, and you can monitor the data to make sure you’re getting the best deals.

9. Automating payment processing

Another reason to implement these workflows is to make it easier for customers to pay you and for you to pay suppliers. That includes authorizing repayment for returns and refunds.

To remove the bottlenecks that lead to delays and errors, you’ll need a smooth movement of data between your online store and accounts solution, plus integration with a reliable payment processing tool.

Unlocking the benefits of integration

Integrating your online B2B store with your accounting software—and other tools—brings a host of benefits. We’ve already mentioned the increased accuracy that comes with seamless data flow and automated processes and the improved relationships with customers and vendors.

Integration also boosts productivity, as teams don’t have to toggle between different systems and apps or waste time searching for data. Everything you need is centralized, especially if you also connect tools such as a CRM, a warehouse management system, and communications software.

Because you can add or remove integrations at any time, your business becomes more scalable. And, as you grow, you’ll have better visibility into your operations and the ability to analyze data from across departments.

Best practices for implementing integration

Start by analyzing your current processes and identifying inefficiencies. Next, draw up a realistic plan with measurable goals. Set a budget for the project, then create a schedule for implementation. Don’t forget to include contingency plans and allow some flexibility in case you need to tweak things.

Do your research and draft a shortlist of potential integration solutions. Some software comes with built-in integrations to other tools (such as B2BWave with Sage and Shopify). Others let you use APIs to build your own. Either way, you’ll need to choose the most suitable solution for your unique business processes.

It’s crucial that you communicate the reasons for the implementation and how it’s going to work—you’ll need buy-in from everyone involved. Offer training where necessary. It’s best to bring in the integrations iteratively and measure the results as you go.

Final thoughts

A successful workflow guides you through a series of predefined steps to achieve a desired outcome as efficiently as possible. By integrating your online B2B store with your cloud accounting solution, you can create workflows that streamline everything from inventory management to invoicing and improve your relationships with customers and vendors.

Still trying to figure out where to start? Request a demo from our team today to check out the unique capabilities of our B2B eCommerce platform.