A Guide to Accounting Integration & Its Requirement for Business!

A Guide to Accounting Integration & Its Requirement for Your Business!

It doesn’t matter whether you are associated with eCommerce or any other business; managing finances efficiently has always been a priority. Managing accounts in an accurate manner facilitates having a clear track of profit and loss. But the challenge is one can not manually keep track of their accounts. Gone are the days when you used to calculate and keep your financial data in a traditional method by using an excel sheet. However, integrated accounting software is the utmost requirement of this modern eCommerce era.

Integrating your accounting software with robust integration provider software can streamline your business’s financial life cycle. Suppose you still tremble at the thought of attaining integrated software for your accounting system, assuming it is an expensive and complicated process.

In that case, you may miss out on the compelling benefits of these software. On the other hand, if you opt for a powerful eCommerce accounting software that utilizes a sturdy API, you may achieve your financial goals effortlessly. Thus this blog can help you to understand the step toward integrating accounting software with your eCommerce journey.

What is an Accounting Integration

An Accounting integration process lets you synchronize your generated financial data from your ERP system to the integrated software. It can integrate with multiple accounting software such as Tally, Quick books, Zoho Books, Align Books, etc. Software that provides integration usually extracts the data from your accounting system and manages it in a single dashboard.

Integrated accounting software empowers you to align your financial data properly with your existing accounting software. As an integrated accounting software, eVanik OWS offers astounding financial management and provides all your financial data in one place. It also eliminates the requirement of separate bookkeeping along with human errors.

Why Do You Require an Integrated Accounting Software

If you still do not understand the urgency for integrated accounting software, you just need to read out the following. These points will let you know why it is the need of the hour and how it can benefit your eCommerce business in a more accessible and smoother way. Let’s dig in and get clarity on accounting integration.

To Salvage Your Time

Time is money, and if you spend most of your time just on managing your finances, how will you make money or generate revenue? However, integrated accounting software can save you time in numerous ways. It automates routine processes such as invoicing and bookkeeping. If you are the one who is spending hours just managing your accounts, there are chances that you may lack in focusing on other aspects of your online business.

Using integrated accounting software could be a life changer for you. Such software saves your time and provides automation to manage your finances accurately. It stimulates the financial close and ensures compliance. In such a way, you can save time and make other strategies to revamp your business.

For Precise Financial Reports

Accurate financial reports enable a clear understanding of cash flows. But you can not get the accuracy while managing your finances manually. Integrated accounting software is essential to clarity over financial outgoing and incoming. It can help in attaining the financial statements based in real-time. Suppose you are not able to retrieve the financial report or analytics that you require to run your business in a better way through your existing accounting software.

In that case, it may be the time to indulge in an integrated financial support system. Better financial data can make you able to make better financial decisions. A lack of data can affect your financial status and push you toward business failure. Accounting integration eliminates the need to consult an accounts advisor and pay them a hefty amount by the end of every month. It can also help you gain information regarding your customers’ spending habits.

To Escape the Human Errors

With the traditional accounting practice, human errors are inescapable. On the other hand, handling financial transactions through sturdy accounting integration software, it becomes hassle-free, and the entire process can get more streamlined. Integrating accounting software eliminates the duplication of financial data if you use your accounting software for invoicing, reporting, and managing other transactional expenses. Integrating it with software like eVanik OWS can make your whole system more adequate; it may also save time and money. Real-time accounting data allows you to track historical account information as well.

For Multichannel Integration

To survive in this competitive world of eCommerce, you may require to sell your products on multiple platforms. Now, if you are a multichannel seller, then you may require integrated accounting software because managing multiple accounts can not be an easy-to-go process. A minor error can lead you to immense financial crunches. An integrated software provides the enormous feature of multichannel integration and manages all the transactional activities under one roof.

A manual process involves several errors and may consume enough time to eradicate those errors. However, software with an integration facility integrates with various channels and provides precise financial data. It is advisable to use such software if you are passionate about your business and want to expand it in the coming time. An integration feature is something that every seller should look for.

For Efficient Bookkeeping

It’s high time when you should consider integrated accounting software to process every individual transaction in an accurate manner. It is essential to manage efficiency in bookkeeping. Separately keeping all the bookkeeping can be a clumsy and time-consuming job. Though an integrated software effectively waives the requirement of separate bookkeeping. In such a manner, it can become easier for you to cross-check the errors to maintain overall cash flow accuracy and provide correct and systematic bills to your customers.

Challenges You May Face While Managing Accounts & Bookkeeping

  • Setting off bulk payments against every individual sales invoice.
  • Settling the customer and courier returns against the original invoice
  • Incorporating the GST number for B2B sellers in the sales voucher to receive the GST tax input credit.
  • Recording the monthly commission invoices to avail, GST returns.
  • Match the sales and returns with the MTR report provided by eCommerce marketplaces.
  • Challenges in filing GSTR accurately and on time.

Benefits of Integrated Accounting Software

  • It eradicates the requirement of downloading or uploading CSV and excel files from any eCommerce platforms seller panels.
  • Through effective API integration, all the data from the eCommerce sites can automatically get synchronized with it.
  • It supports one-time product and ledger mapping through the UI.
  • It minimizes the obligation of installing a third-party module.
  • An integrated software such as eVanik provides the facility to match the MTR report with the integrated data into Tally PRIME.

Conclusion

If you are selling your products on various eCommerce platforms and associating with such accounting software that doesn’t provide integration, you may inevitably end up with overlapping financial data. With the help of integrated accounting software, you may instantaneously cumulate all your transactional data, sales reports, budget analysis, and profit and loss accounts in a centralized way. It can become easier for you to analyze whether your eCommerce business is profitable or not and in which areas you need to imply improvements.

Moreover, it saves time and effort by eliminating the need for individual analysis of each report and transaction. Using integrated software is vital in providing a quick overview of your entire business expenses and profits. It can help you enormously with initiating a business strategy and fixing a budget. It may also help you manage your inventory and implement smart pricing strategies. Most importantly, you will always be 100% GST compliant.

Vital Tips to Increase Your Online Sales Amid Fathers’ Day!

Vital Tips to Increase Your Online Sales Amid Fathers' Day!

Fathers' day is celebrated in many countries of the world on the third Sunday of June every year. This year, it falls on June 19th, and amid this day, eCommerce websites have started a buzz around to make the most of this day. Like any other Indian festival, this day is equivalently essential; after all, it is the day to show your affection towards your Father. The significance of this day is relatively high in Indian paternal society. So why not take advantage of this day to upsurge your online sales. Although, this is such a date that many eCommerce sellers must have prepared for, which has intensified competition. All have their unique strategy to attract more customers and increase their sales.

That's why it is crucial to have considerable competitive ideas to take advantage of this day efficiently. In this regard, you need to update your inventory, accelerate your shipping and delivery system, and be prepared for the returns as well. To get the requisite benefits of this particular day, you can take the help of several eCommerce order management software such as eVanik OWS. It can help you in processing your orders smoothly along with other operational activities in a seamless manner during this occasion. In this blog, we have mentioned some of the vital tips that can help you increase your sales during the Fathers' Day celebration.

Significant Tips to Enhance Sales Amid Fathers' Day Celebrations

We all behold the heroic image of our Fathers, which automatically raises Fathers Day's importance. Fathers are the ones who devote their everything to the betterment of their children. So this day is considered a payback day for Fathers. As an online seller, you can convince the customers to make the best purchase for their birth giver. It is that time of the year when you can sell Father-centric products and increase your sales abruptly.

Create a Buzz of Urgency

It is easy to create a buzz of urgency amid Father's day celebrations. You need to remind your customers that the day is fast approaching. You can start with the promotions early to encourage customers to get into the mindset and prepare their orders as early as possible. You can promote several products on your social media pages under the label best gifts for fathers. Promote your products in such a way that they will be out of stock soon as many customers have their eyes on them. You must have seen these tactics on Myntra during the sales season. They have a unique feature that shows an accurate number of customers viewing the specific product at a time. Use such tactics to create the urgency of placing an order as soon as possible. It can work magically on customers, and they may place their orders. You can also run special offers throughout the weeks leading up to Fathers' Day. This gives customers enough time to make a purchase. It is a unique way to attract customers and increase your sales.

Always Keep a Check on Your Inventory

If you want to make most of this day to upsurge your sales, you must stock up your inventory. As an eCommerce seller, it is essential to be aware of your inventory to accelerate order processing and satisfy your customers. You must understand that you are not the only one who is trying to capitalize on this event. Various other sellers are there in the queue. That is why you need to always keep a check on your inventory to ensure whether you can fulfill the demand of your customers or not. Poor inventory management can minimize the chance of generating ample revenue. It can lead you to the situation of Oos (out-of-stock). Suppose if a customer experiences this situation while placing an order, it can break their trust in you. They can even run to your competitors to buy the same product. However, it is not an easy task to keep an eye on your inventories across channels. To automate this process, you can take the help of some inventory management software such as eVanik. It provides you the automation to view your inventories in a single dashboard and manage them effortlessly. It notifies you every single time a product gets out of stock. Hence, there is no chance you can miss out on this aspect.

Showcase Your Products as the Best Gifts

Be it Father or any other relationship, deciding on a gift for loved ones is always a task. It automatically allows you to offer your products as the best gift. To attract the customer's attention, you can choose several products such as a wallet, personalized pen, coffee mugs, perfumes, personalized diary, personalized bar set, etc., to sell. Now add an attractive description and title mentioning the best gift for Fathers' Day. In the fast-paced world, customers are running out of time, and in the lack of time, there is a probability that they can buy your products in the first place. Offering them customized or personalized gift items are keys to making most of the Fathers' Day celebrations 2022.

Offer Faster Delivery Than Ever

The enormous eCommerce business has become more competitive for sellers, especially during special days. It demands faster and more efficient delivery. That is why being an online seller, you need to find compelling ways to execute the faster delivery. The promise of a speedy delivery can convince your customers to buy your products without a doubt. Now the real challenge for you is to fulfill the orders by the promised time. To minimize this hustle, you can take the help of order management software. It can select the warehouse or some other destination right after placing an order. It also has the feature of extracting the order details and previous history to mandate the process of order fulfillment. You can keep an eye on every movement of orders after shipment and update your customers at their locations. In such a way, you can deliver the orders at the promised time and add more happy customers to your list.

Conclusion

Thus, these tips can help you increase your sales during the Father's day celebrations. To apply these tips accurately, you can take the help of order management software such as eVanik. It automates the entire process and diminishes the chance of failure. Apart from this, you must select some unique products to sell on Fathers' Day. Customers always are in favor of buying something different, and offering them as per their demand can undoubtedly help you increase your sales. This particular day is about to fall, so gear up and make a compelling strategy.

Top 9 Shipping Aggregators for Online Sellers

Top 9 Shipping Aggregators for Online Sellers

Shipping Aggregators

During these COVID-19 outbreak time, consumption patterns have changed tremendously. One siginificant change lockdown has brought that whole digital landscape has been changed.  People livingi n Tier-II and Tier-III cities have become part of digital revolution. They can been seen attending video calls, video meets, e-learning etc. This transformation has also led the buying of essential and non-essential goods from various e-commerce marketplaces such as Amazon, Flipkart, Paytm etc and small niche websites of various people.. Online sellers has felt the need to have better control on their product distribution as well as last mile connectivity. Hence, role of shipping aggregators for online sellers became more relevant.

This is giving rise to shipping aggregators, which is benefiting the transportation domain. Shipping aggregators are increasing which helps the e-commerce traders to transport their products to each and every corner of the world.

Almost all the online sellers hire a shipping aggregator to maintain the position of their business. Also it helps the business to grow and expand.

It is very important and useful for the online sellers to hire shipping aggregators to grow their business as one person cannot handle and manage everything. Outsourcing is essential in every kind of business as it leads to better management and reduction in Costa as well.

So, We selected some of the best shipping aggregators for online sellers.

 Advantages of using shipping aggregators for online sellers

Shipping Aggregators1

  1. Reducing transportation cost: If you own an online business, you have to own or rent vehicles and hire drivers for transportation which will cost you too much. Also, you have to give taxes for your vehicles and pay the bills of the fuel used during the shipment. But if you outsource the transportation, it will result in cost reduction as all the changes will be reduced and you have to pay the minimum fees to shipping aggregators.
  2. Maintenance charges are reduced: When you will provide your own transportation, then you have to maintain all your vehicles. Also, you have make them register for commercial use. The registration cost will also be eliminated if you outsource the transportation.
  3. Better Performance: The businesses that outsource transportation have better performance as they have more time to concentrate on their main work which helps in expansion of the business. Online sellers have time to plan the strategies for future. Also, it becomes easier for them to manage the accounts which is a great relief for online sellers.
  4. Reduction in training cost: When you will provide transportation yourself, you have to provide training to all the delivery boys. But in the case of outsourcing, all the cost of training is handled by the courier service providers.
  5. No stress of liability: If you provide your own shipment, many losses may occur life theft, accidents etc but in case of hiring a shipping aggregator, online sellers are free from these kind of losses and liabilities.
 Things to consider before choosing a shipping aggregator

Shipping Aggregators2

  • Always choose a courier service provider which provides fast delivery as when the delivery of the products will be late, the customers tend to loose interest in the products and remain unsatisfied.
  • If you run a large scale business, you must look for a shipping aggregator which provides their services at the global or a larger level as to provide shipment to all the customers in each and every corner of the world.
  • You should look for the shipping aggregators who provides you the facilities of tracking and managing your accounts as it is more convenient, helpful and also a effective service for your business. Also, it helps reducing the cost of the system which ultimately helps in gaining profit.
  • Try to choose a courier service provider who support cash on delivery. It will help the business to make a good connection and trust in your customers which will lead to the expansion of the business.
    Best shipping aggregators for online sellers 
    1. Shiprocket:

Shipping Aggregators3

  • It has 8 shipping partners to give the best services to e-commerce traders which helps the online sellers to expand their business.
  • It is cheap and also offers discounted shipping which helps the e-commerce traders to earn profit by providing reasonable rates to consumers.
  • It also offers 4 types of pricing plans to e-commerce traders so they can choose the plan as per their convenience.
  • It provides the services to 20000+ pin codes on cash on delivery which is very beneficial for online sellers. It is the best shipping aggregator at cheap rates.
  • It provides a dashboard which gives the tracking details of the shipment to the online sellers as well as to the customers.
2. ShipYaari

Shipping Aggregators4

  • It is the oldest shipping aggregator which makes it trustful for all the online traders.
  • It has 3 pricing plans for online sellers to give online sellers a choice which helps the online sellers to choose a price plan as per their convenience.
  • It gives the plans on monthly, half yearly and annual subscription model.
  • It provides their services domestically and internationally too as it have 2 international and 4 domestic partners. Best shipping aggregator in India.
  • It also offers discounted rates at bulk shipping which gives profit to online sellers.
  • It does not provide multi location pickup which is the only problem online sellers suffers while contracting with Shipyaari.
3. Shipkaro

Shipping Aggregators5

  • It is very promising and reliable shipping aggregator for online sellers.
  • It also provides 3 pricing offers to the online traders that are individual, business and enterprise to provide convenience to the traders.
  • It provides shipping domestically as well as internationally as it have 12 shipping partners. Best shipping aggregator with COD availability.
  • It gives a huge discount to online sellers for bulk shipping orders.
  • It offers full cash on delivery support at 20000+ pin codes which helps online sellers to expand their business.
4. Pickkr

Shipping Aggregators6

  • It works on pay per use basis which helps the small scale businesses to grow with little amount of capital.
  • It provides services domestically as well as internationally. It also provides a B2B shipping as well as B2C shipping.
  • It provides the tracking facilities to online sellers as well as to the customers which makes the customers delighted.
  • It provides pickup service as well to multiple locations which benefits the online sellers to make their customers satisfied.
  • It provides services at very low rate so that online sellers can make profit with 3 price plans to provide convenience to online sellers. Best shipping aggregator globally.
  • It also provides a NDR calling support with NDR management tools.
5. Zepo Couriers:

Shipping Aggregators7

  • It offers courier service to the e-commerce sellers. It has partnership with 6 courier service companies which makes it very effective and efficient.
  • It provides delivery to 15000+ pin codes in India to reach each and every corner of India.
  • It works on a very reasonable price rates and also provides 3 price plans to the e-commerce sellers.
  • It offers discounted rates but not at monthly and half yearly subscription which creates a difficulty to new or emerging online sellers. Best shipping aggregator with huge discounts.
  • It also supports cash on delivery which gives a relief to online traders.
6. Shyplite

Shipping Aggregators8

  • It works on pay as you go model which helps the new or emerging online sellers as they can pay in parts and not in bulk.
  • Due to pay as you go model, it cannot provide premium advantages which becomes a great reason of large scale seller to not to choose shyplite but this proves the best courier service company for small scale e-commerce traders.
  • It is growing and has 8 courier service companies as its partner.
  • It also provides cash on delivery facility to some of the locations which helps the e-commerce traders to grow. Best shipping aggregator in India.
  • Overall, it provides the services to 26000+ pin codes in India which helps the e-commerce sellers to reach each and every corner of India.
7.  Vamaship

Shipping Aggregators9

  • It is the cheapest alternative for the e-commerce traders which attracts almost all the online sellers.
  • It provides the shipping facilities globally with 26000+ pin codes to cover whole of the world which is very beneficial for the online sellers as it gives them an opportunity to expand their business.
  • It does not take platform usage fees and only take shipment fees which makes it the cheapest courier service.
  • It provides you a platform to send your customers a customized ‘best buying experience’ notification to delight your customers. Best shipping aggregator with tracking facilities.
  • It also supports cash on delivery all over India with a pickup facility too which helps the online sellers to build a trust of the customers all over India.
8. ShipDroid

Shipping Aggregators10

  • It provides an easy account management system to the online traders which helps them to calculate their sales.
  • It is economical and provides services at low rates which helps the online sellers to gain profit without pressurizing their customers.
  • It provides a dashboard to online sellers which gives all the tracking details of every minute to customers as well as to online sellers. Best shipping aggregator for online sellers.
  • It supports cash on delivery which facilitates the online sellers to make their customers comfortable and helps in building trust of customers
9. iThink Logistics.

Shipping Aggregators11

NameNo. of partnersPin code servicesCOD facilityPlatform feesCustom Tracking page
Shiprocket819000+YesYesYes
Shipyaari410000+YesYesYes
Shipkaro1315000+YesYesYes
Pickrr10+26000+YesNoYes
Zepo Couriers615000+YesYesYes
Shyplite1220000+NoNoYes
Vamaship1426000+YesNoYes
Shipdroid220000+NoYesYes
Think Logistics626000+YesNoYes

Conclusion:

 E-commerce is growing day by day which is leading to the emergence of shipping aggregators in transportation sector. There are many benefits of hiring shipping aggregators which majorly are reduction in transportation costs, maintenance charges and training costs. It also helps in better performance.

You should consider many things before hiring a shipping aggregator that are fast delivery providers,  tracking and account manager providers and most importantly if you run large scale business, choose a providers who can service globally.

eVanik provides direct integration with various logistics partners which helps onlines sellers in managing shipping for their e-commerce orders.