Users of popular consumer software applications, especially mobile ones, are used to performing daily tasks such as scheduling activities on their calendars in their e-mail applications, either from their home or office computers, or most often, from their mobile devices. In fact, many take the results of these activities for granted, not giving much thought to how data moves from one application to the other.
With a push of a button, or, more accurately, a touch of the device’s screen, your e-mail meeting invite creates an entry into your calendar with all needed details. These activities would not be possible without integrating two or more applications, either locally or in the cloud, to create a seamless workflow, with minimal user data entry, promoting accuracy and completeness of data possible only with automation.
Business software applications are no different. Their users perform daily tasks such as processing receipts of inventory into warehouses, guided by existing and approved purchase orders and suppliers’ packing lists with bar-coded bags or boxes of items that upon scanning automatically update inventory records, PO records, inventory sub-ledgers and GL control accounts. Posting a customer payment on an open invoice causes this invoice balance to be eliminated or reduced, while automatically updating the AR sub-ledger and the GL control account balance.
These automated activities are possible because of integration between the inventory and accounts receivable programs in an ERP solution and the system’s general ledger. There is minimal data entry users must perform, and with that, accuracy and completeness of data and other information improve dramatically.
CPM (corporate performance management) software is a good example where integration is important in achieving the desired results, with minimal user interaction and no data input errors.
Here, the data from the ERP or accounting software is integrated with the CPM solution and periodic account balances, or even transaction activity, in each period are automatically provided. The planning and budgeting software is integrated with the reporting or analytics solution, and both the actual and budgeted data is displayed and analyzed as soon as a financial period is closed. Gone are the days of exporting GL data to a text file that must be uploaded to the CPM solution, mapped to the solution’s databases’ various data fields, and then independently mapped to the analytics software to obtain the desired reports and formatting.
A good example of integration between popular SMB (small and medium-sized business) GLs and a CPM solution is Centage Corporation’s Link Maestro. With Link Maestro, a user can obtain all GL account balances, and even transaction activities, for many popular GLs. The process is entirely automatic and accuracy and completeness of data is guaranteed every time the process is run.
Once the GL data is in the Budget Maestro CPM application, analysis can take place immediately using Analytics Maestro. Actual accounting data and budgeted data automatically flow to the analytics application and are displayed in the predetermined format for every accounting period. This, again, is possible with integration–two software applications, the ERP and Budget Maestro, tightly integrated by Link Maestro.
Now even SMBs can achieve that level of automation afforded by integration, previously available only to very large organizations and through lengthy and expensive customization of the company’s software. Let your computer and software do all the tedious work in an error-free environment while you spend more time analyzing the data which ultimately allows management to make timely and informed decisions.