Avoid Mistakes With Integrated Accounting
Mistakes in accounting can turn a profitable retail giant into a nightmare monster. Just ask Dave Lewis, the guy given the unenviable task of turning Tesco around after an accounting scandal rocked investors. While the investigation continues on Tesco’s woes, it might behoove the rest of us to turn a critical eye to the benefits of retail-centric, integrated accounting software.
Why Retail-Centric Accounting Software?
Retailers have complicated businesses with multiple suppliers and transactions that need to be accurately recorded for transparency. Part of Tesco’s problem was apparently in this category but the issue has become a “black hole” sucking the retailer into increasingly negative incidents, like needing to call police in to quell holiday shopping chaos in understaffed stores and an inability to cope with the number of Black Friday orders.
Accounting software must be specific enough to address the unique needs of the retailer.
Why Integrated Accounting Software?
With the technology available today, there’s no good reason for accounting practices that operate in isolation. Retail operates on many levels and many channels — keeping track of the financial flow across those channels and levels is imperative. Automated functionality can streamline laborious tasks and simplify the accounting process while keeping all the connections intact for auditing and analysis.
Accounting software must function cohesively across all the multiple channels of the retailer.
Because the ChainDrive Integrated Accounting software is designed by retailers, it is retail-centric. Because it is part of an Integrated Retail Management Solution utilizing a centralized database, it is able to function in all the channels and levels a retail business functions and be integrated into the fabric of daily operations. It’s also customizable (check it out!) so that your unique retail business needs are addressed and costly mistakes are avoided.
Accounting software that meets the multi-channel needs of the retailer is found at ChainDrive.