4 Things That Make ChainDrive Accounting Retail-Centric
Retail accounting software needs to be retail-centric. That means it is designed specifically to address the pain points and functionality that a retailer will need now and in the future so that the business is able to be effective in every channel and from one end of the enterprise to the other. In order to be retail-centric, the software must be fully integrated, scalable, dynamic, and robust.
Accounting needs data from all over your business in order to do the job correctly. If your software isn’t fully integrated with real-time updates, your accounting department has to rely on getting reports, compiling that information, and then acting on it. Integration in real time needs to have a centralized database and superior data infrastructure. The results give your accounting processes all the information and functionality that are needed to do the job.
When accounting software is scalable, it is able to be changed in proportion to the need without a penalty in functionality. Retail-centric accounting software can easily go from a single day to a season or a single employee to a department and more. This scalability allows your accounting processes to painlessly focus on the task at hand.
Dynamic accounting software is updating constantly as the numbers come in. This is the result of being fully integrated in real time. Whenever your accounting team needs the numbers, those numbers are accurate and up to date. Without dynamic retail accounting software, you are stuck with compiling reports and dealing with yesterday’s data, or last week’s, or even last quarter’s. This gives good information for some of your accounting department’s needs, but it isn’t enough for the way retail works today.
Accounting software that is fully integrated, scalable, and dynamic is going to have problems unless it is also robust. Power is needed to do all that retail accounting requires in an environment that has multiple channels and complicated supply chains. Without the strength and depth to do all that is promised, accounting software is ineffective.
The ChainDrive Integrated Accounting component is a perfect example of what it means to be retail-centric. It is fully integrated, scalable, dynamic, and robust enough to perform the tasks you need, like invoice matching, bank reconciliation, cash audits, lease management, and more.