Some companies falsely believe that because the accounting department isn’t involved in new product development, publicizing the company, creating new customers, or solving customer service issues that it cannot benefit from Salesforce. However, that is completely untrue. Many of the same great Salesforce features and tools that other departments use can also be extremely helpful to the accounting team and there are several key areas in which Salesforce serves the accounting department.
Salesforce Helps Gather Information for Accounts Receivable
Accounts receivable is fundamental aspect of any company because it represents the money and assets owed to the company. It is essential that the accounting department be able to contact these customers and clients and receive payment from them. Salesforce assists with this important task by helping to aggregate customer information and improve the quality of that information. This makes it easier to contact customers through the channels that they are most likely to respond to.
Additionally, Salesforce makes it easy to track information such as previous company interactions with the client so that the accounting team has a frame of reference within which to work. Salesforce also makes it easy to set up reminders to contact customers and even allows much of the process to be fully automated.
Salesforce Also Assists with Accounts Payable
The flipside of accounts receivable, is accounts payable – the money and debt the company owes to vendors, contractors, manufacturers, etc. Once again Salesforce assists the accounting department with this important function by tracking all communication between the company and the party owed, as well as aggregating all contact information. Additionally, Salesforce makes it easy to track the success or failure of a product or service based on the number of customer complaints and issues, or the overall sales and positive feedback given by customers. This allows the accounting department to better gauge whether the vendor or manufacturer should be used in the future or if a change might be warranted.
Salesforce Makes It Easy for The Accounting Department to Communicate with Other Departments
For any company to be successful it is crucial that the various departments within the company communicate often and effectively with each other. This is particularly true of the accounting department because if they are having a tough time getting payment from a person or company it might be necessary to let the sales team know so that they do not make further sales to that person or company, or if the problem is more systemic it may even be necessary to confer with the marketing department so that a target demographic or marketing strategy can be altered. Salesforce makes this type of communication easy with its Chatter networking cloud and other communication tools.
Salesforce Helps The Accounting Department Create Reports
Often before a big acquisition is made company executives will request that the finance and accounting department create reports and presentations related to the acquisition. Additionally the accounting department may be tasked with delivering reports on overall company revenue and expenditures. The creation of these reports and presentations is greatly aided by Salesforce’s many useful information tracking features. Much of the information and data needed for these reports can be exported right from Salesforce in a ready to use, easy to understand format.