### **Introduction to CRM integration with accounting**

Whether you are a small or medium scale business, accounting needs to be handled efficiently. The most important task that is performed by the finance team is data entry and managing invoices. When this is [done through CRM](https://www.cloudify.biz/blogs/post/introduction-to-crm), the integration between the CRM system and the accounting app lets you meet all your accounting requirements with ease. It can streamline business operations by allowing for the seamless sharing of data between the two systems, resulting in improved data accuracy and reducing the need for manual data entry. Automated invoice creation and sending based on CRM data, such as customer information and purchase history, can save time and improve efficiency. Additionally, the use of CRM data in financial forecasting and budgeting can provide valuable insights into the financial performance of the sales department. Overall, integrating a customer relationship management system with an accounting app can help businesses better manage their financials and customer relationships.

For example, [when a deal is created in HubSpot CRM, a company is created automatically in Visma e-conomic, an accounting app. This is automation.](https://www.cloudify.biz/blogs/post/examples-of-crm-integration-with-accounting-hubspot-e-conomic-and-pipedrive-e-conomic)

I will take you through two best CRM software and accounting integrations, like [HubSpot – Visma e-conomic integration](https://www.cloudify.biz/marketplace/packages/hubspot-economic) and Pipedrive – Visma e-conomic integration.

### **HubSpot CRM and Visma e-conomic integration:**

#### **Automatic customer creation:**

When a sync operation is triggered in the HubSpot CRM app, then the customers in HubSpot are synced to the economic app along with their information and vice versa.

By using an integration, customer information such as contact details and purchase history and company records can be automatically transferred between the two systems, keeping both systems up-to-date and reducing the need for manual data entry. Additionally, this integration will facilitate the automation of invoice creation and sending based on customer information, and also provide valuable insights into the financial performance of the sales department. This will help businesses to better manage their financials and customer relationships.

#### **Automatic deal creation:**

When a new deal is created in Hubspot, it can automatically be synced to e-conomic, creating a new deal with the same information. This can save time and reduce the potential for errors, as the information doesn't need to be manually entered into e-conomic. Additionally, it can automate the invoice creation and sending based on deal information, and also provide valuable insights into the financial performance of the sales department.

By integrating Visma [e-conomic](https://www.cloudify.biz/economic) with the HubSpot CRM app, you will no longer need to create deals manually. The deal creation will take place automatically from the HubSpot CRM.

![image-sync-economic.png](/uploads/image_sync_economic_9149c62473.png)

#### **Automated Invoicing:**

This integration can also automatically update the invoice status in e-conomic when a payment is made in Hubspot. Additionally, this integration can also assist with automated billing, recurring invoicing, and also with invoice tracking and management.

You can create automated invoices in Visma e-conomic when a deal is closed in the HubSpot app. 

#### **Automatic draft order creation:**

When a new deal is created in Hubspot, it can automatically create a draft order in e-conomic with the same information. This integration can also automatically update the status of the draft order in e-conomic when the deal is closed or moved to a different stage in Hubspot.

![image-create-draft.png](/uploads/image_create_draft_7954d0e7af.png)

#### **Automatic quotation:**

When a new deal is created in Hubspot, it can automatically create a quotation in e-conomic with the same information. This integration can also automatically update the status of the quotation in e-conomic when the deal is closed or moved to a different stage in Hubspot.

![image-create-quotation.png](/uploads/image_create_quotation_06a92ed7e1.png)

#### **Automatic addition of customers:**

Automatically add the customer to a campaign list in HubSpot, when there is a new invoice created in Visma e-conomic.

![image-add-customer.png](/uploads/image_add_customer_618560417c.png)

The integration discussed above offers end-to-end solutions right from closing deals to raising draft orders or invoice. All the manual and repetitive tasks are taken care of when you can focus on other important things in your business. 

Yet, another such example of some of the popular use cases for HubSpot and Visma e-conomic integration are:

*   [Amalie](https://www.cloudify.biz/case-studies/amalie)
*   [Gemini](https://www.cloudify.biz/case-studies/gemini)
*   [Helion B2B](https://www.cloudify.biz/case-studies/helion)
*   [Glycospot](https://www.cloudify.biz/case-studies/glycospot)

### **Pipedrive – Visma e-conomic integration:**

By integrating Pipedrive, a sales CRM app with Visma e-conomic, you can create invoices directly from Pipedrive deals. It eliminates the need for manually entering the accounting data into the software. 

Your finance team can approve all the customer invoices within the accounting app and send them to the customers automatically without leaving the app for customer data updates. 

The workflows are pretty similar to the one mentioned above, i.e. HubSpot with Visma e-conomic app that includes automatic invoice creation and sending it to clients, creation of contacts, automatic product links, pulling invoices from Visma e-conomic to Pipedrive, syncing the invoice data into the CRM app, updating status on invoices, and more. 

Some of the popular use cases of Cloudify involving Pipedrive and e-conomic integrations have been listed below:

*   [Arne Aksel](https://www.cloudify.biz/case-studies/arne-aksel)
*   [Vendemus](https://www.cloudify.biz/case-studies/vendemus)

Apart from these integrations, there are few more examples that you can have a walkthrough:

[HubSpot and Fortnox integration](https://www.cloudify.biz/marketplace/packages/hubspot-fortnox)

[HubSpot and Zoho Invoice integration](https://www.cloudify.biz/marketplace/packages/hubspot-zohoinvoice)

[Pipedrive and Fortnox integration](https://www.cloudify.biz/marketplace/packages/pipedrive-fortnox)

[Pipedrive and Zoho Invoice integration](https://www.cloudify.biz/marketplace/packages/pipedrive-zohoinvoice), and a lot more. 

Some of the popular triggers and actions for this integration are as follows:

*   [When a new company/contact is created in HubSpot](https://app.hubspot.com/ecosystem/23395533/marketplace/apps/finance/accounting/hubspot-to-economic-622089)/Pipedrive, then a new customer is added in Fortnox/Zoho Invoice. 
*   New email events trigger when there is a new deal in your CRM app or when an invoice is sent to the customer or there is a new lead, and much more.

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Examples of CRM integration with accounting (Hubspot - e-conomic and Pipedrive - e-conomic)

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Integrating accounting software and CRM (customer relationship management software) allows businesses to streamline their workflows and operations by combining financial data with customer data. This can help in business management and better understand their customers' financial activity to make more informed decisions. Additionally, it can help to automate certain tasks, such as invoicing and bill payment, which can save time and reduce the potential for errors. Some popular accounting software that can be integrated with CRM software include [e-conomic](https://www.cloudify.biz/marketplace/products/economic-integrations), [Fortnox](https://www.cloudify.biz/marketplace/products/fortnox-integrations), [Microsoft Business Central](https://www.cloudify.biz/marketplace/products/microsoftBC-integrations), [QuickBooks,](https://quickbooks.intuit.com/in/) [Xero](https://www.xero.com/), and [Sage](https://www.sage.com/en-us/).

When businesses grow, accounting is something that needs strict monitoring and control. At times, you can see an exponential growth, which can lead to errors in data down leading the issue to further down the line. For this, we are going to walk through the benefits of integrating your [CRM](https://www.cloudify.biz/marketplace/apps) software with the [accounting software](https://www.cloudify.biz/marketplace/apps). Let's take a look at automation!

## **What can a CRM – accounting integration do for an accountant?**

CRM offers a centralised platform where you can store all your customer data and share them parallelly within and outside your department. If you belong to the accounts team, here are the possible benefits you can get:

![what-can-crm-accounting-integrattion.png](/uploads/what_can_crm_accounting_integrattion_d9cfe235dd.png)

*   When the customer details are created in the CRM system like HubSpot or Pipedrive, it automatically gets synced into your accounting app along with updation of the history of the transaction. Because we need to understand that it is crucial to sync contacts between the two systems so that there is no double entry or errors. 
*   [CRM integration with accounting software](https://www.getapp.com/finance-accounting-software/accounting/f/crm-integration/?__cf_chl_tk=dpcg0e2uGwcvneO1KbM0k9.OB9_uysu3lHTABpxiYMQ-1683009211-0-gaNycGzNDDs) can let you develop active leads through customer interaction. 
*   Most of the time, the details linked to the pricing details and agreed rates are stored in the accounting app. By integrating your CRM system with accounting will let the other departments, such as the sales department, know about the agreed rates. They can also get information on the transaction history and design their own pricing model and improve prospect response time. 
*   Another benefit can be the sharing of financial information between both systems. Through this, all the departments stay updated on the past financial history of the customers, discussed pricing, credit limits, payment dues, etc. 
*   The integration between the two systems can let you increase your lead generation. It is always easier for you to get back to your old customers who have already purchased your products or used your services. So, this system integration lets you create effective and targeted marketing campaigns based on the purchase history of the customers, such as up-sell or cross-sell campaigns. 
*   Integrating the software will reduce the need to share data between systems, which can help to keep sensitive information more secure.

Benefits do not end here, and there is more to it. So, summarising what has been jotted down above.

## **Error free and bi-directional data sync by** **integrating accounting** **and CRM software**

Integrating accounting and CRM software can help to ensure error-free and bi-directional data sync by providing a seamless flow of information between the two systems. This can help to eliminate the need for manual data entry and reduce the potential for errors.

Bi-directional data sync allows data to be updated in both systems in real-time so that the information in both systems is always accurate and up-to-date. This can help to improve data accuracy and ensure that all stakeholders have access to the most recent information.

For example, when a new customer is added to the CRM system, the information is automatically synced to the accounting system, creating a new customer profile and ensuring that all financial transactions are linked to the correct customer. Similarly, when an invoice is generated in the accounting system, the information is automatically updated in the CRM system so that the customer's account reflects the most recent transaction.

In summary, integrating finance and CRM software can help to improve data accuracy, reduce the potential for errors, and streamline business processes by providing a seamless flow of information between the two systems.

*   No more duplication of data or errors in customer information
*   Speed up quote creation and sending it to potential or repeat customers
*   Centralised information store
*   Reduced invoice disputes

## **Increased visibility of financial position of the customers**

Integrating CRM and accounting software can provide increased visibility of the financial position of customers by combining financial data with customer data in one system. This can help accountants and other stakeholders to better understand the financial activity of customers, including things like credit risk, sales potential, and payment history.

For example, by integrating the software, accountants can see a customer's account balance and payment history directly within the CRM system, which can help them to quickly identify any potential issues or opportunities. Additionally, by having a more detailed view of a customer's history, accountants can provide more personalized service, such as offering credit terms or providing payment reminders.

Furthermore, sales team can track the customer's financial information from the CRM system, which can help them to identify potential sales opportunities and make more informed decisions about things like credit risk or sales potential.

In summary, integrating CRM and accounting software can provide increased visibility of the financial position of customers, which can help businesses to make more informed decisions, provide better customer service, and identify potential sales opportunities.

*   Sales team will be able to credit chase customers
*   Ensure that customers should stay within the credit limits
*   Gives you access to historical information of the customers

## **Better market targeting**

[Integrating CRM and accounting software](https://www.cloudify.biz/blogs/post/introduction-to-crm) can help businesses to develop better marketing strategies by providing a more complete view of customers' financial activity. This can help businesses to better understand their customers' needs and preferences and develop more targeted marketing campaigns.

For example, by [integrating](https://www.cloudify.biz/custom-integration-and-automation) the software, businesses can access customer purchase history and account balance directly within the CRM system. This can help them to identify patterns in customer behaviour and develop more targeted marketing campaigns based on these patterns.

Additionally, businesses can track the effectiveness of their marketing campaigns by comparing the financial data from the accounting system with the customer data in the CRM system. This can help them to identify which campaigns are generating the most revenue and which ones are not performing well, allowing them to make data-driven decisions about their marketing strategy.

Furthermore, by combining customer data and financial data, businesses can segment their customer base and offer different marketing strategies to different groups of customers, allowing them to personalize their marketing efforts and increase their effectiveness.

In summary, integrating CRM and accounting software can help businesses to develop better marketing strategies by providing a complete view of customers' financial activity and tracking the effectiveness of their marketing campaigns, which can lead to more targeted and personalized marketing efforts.

*   Target marketing based on purchase history
*   Up-sell and cross-sell opportunities
*   Repeat customer targeting to maximising revenues

## **How an** **Integrated Accounting** **and CRM System Streamlines Your Business**

When you run a small business, every minute counts. You can't afford to waste time on administrative tasks that can easily be automated. That's where an integrated accounting and CRM system comes in.

An integrated system streamlines your business by automating the flow of data between your accounting software and CRM. This means that you can spend less time on data entry and more time building relationships with your customers and growing your business.

Know more from our client's use cases: [Arne Aksel](https://www.cloudify.biz/case-studies/arne-aksel) | [Amalie](https://www.cloudify.biz/case-studies/amalie) | [Gemini](https://www.cloudify.biz/case-studies/gemini) | [Vendemus](https://www.cloudify.biz/case-studies/vendemus)

An integrated system also gives you a single view of your customer data. This means that you can see all the interactions you've had with a customer, from the initial contact through to purchase and post-sales support. This gives you a better understanding of your customers and allows you to provide them with the best possible service.

[![cta-accounting-crm-integration.png](/uploads/cta_accounting_crm_integration_41acafbb24.png)](https://www.cloudify.biz/book-consultation)

Why you should consider integrating accounting software and CRM?

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The accounting system is a vital tool for managing and organising all financial information related to a business. This includes tracking assets, liabilities, and other financial data. Without a clear understanding of one's finances, it can be difficult to make strategic decisions and understand the financial health of the business. The accounting system plays an integral role in helping to demystify business finances and make informed decisions for the growth and success of the company. It is essential for a business to have a reliable and efficient accounting system in place to ensure that financial information is accurate and up-to-date, allowing for sound decision-making and a clear understanding of the financial status of the business.

But how will you know that you are using the right accounting system that fits your business needs? Here, in this article, we will guide you through the complete process of [implementing an accounting system](https://www.cloudify.biz/accounting-software-implementation), how it can benefit your business and its functions. 

## **Accounting system definition**

![what-is-accounting-system.png](/uploads/what_is_accounting_system_1719c8d0a4.png)

Source: [Accounting System](https://www.wallstreetmojo.com/accounting-system/)

## **What is an accounting system?**

An accounting system can be anything as simple as an excel sheet to a purpose-built accounting platform like [Visma e-conomic](https://www.cloudify.biz/marketplace/products/economic-integrations) that will help you maintain your accounting records. Basically, your accounting system is how you keep your financial records. You can generate financial reports based on bills, balance sheets, and invoices. 

There are different types of accounting systems. When selecting an accounting system for your business, it is important to consider the specific needs and requirements of your company. Some key factors to consider include the size and complexity of your business, whether you are a small business or a large enterprise, the type of industry you operate in, and your budget.

One way to determine which is the best accounting software is to find out the [right fit for your business](https://www.cloudify.biz/blogs/post/key-metrics-of-measuring-automation-success) and evaluate the features and functionality it offers. Some common features of accounting systems include invoicing, inventory management, financial reporting, and tax compliance. It is also important to consider if the system is user-friendly and if it integrates with other software and systems that your business uses.

Another way to ensure that you are using the right accounting system is to research and compare different options. You can do this by reading reviews, talking to other business owners, and consulting with accounting professionals.

Implementing an accounting system can benefit your business by streamlining financial processes, providing more accurate and timely financial information, and enabling better decision-making. Additionally, it can help you to stay compliant with tax laws and regulations and improve communication and coordination between different departments.

Lastly, when implementing an accounting system, it is important to have a clear understanding of the functions it performs, such as accounting, billing, payroll, and taxes. Training employees on how to use the system and developing a system for maintaining the data to keep it accurate and up-to-date.

Overall, selecting and implementing a system of [accounting that fits your business needs](https://www.investopedia.com/articles/professionaleducation/11/accounting-information-systems.asp) and accounting processes can be a complex process, but taking the time to research, evaluate and compare different types of accounting software for small business or large enterprises, and consult with professionals can help ensure that you make the right choice for your business.

Learn how Cloudify makes it simple to manage the finances of your business and optimise the growth. [Contact the expert team](https://www.cloudify.biz/contact)

## **What does an accounting software track and manage?**

An accounting system can help track all kinds of financial entries such as invoices, expenses, liabilities, etc, generate reports, generate financial statements, help you take business decisions, have a clear picture of the profit and losses, let you connect with other business apps, offer cloud-based software solution, know about the key accounting features, payment processing, easy-to-use accounting, managing income and expenses, etc. that helps in growing businesses with advanced features with essential accounting and financial services.

### **Expenses:**

Expense is the amount of cash that flows out of your business in exchange for products or services offered to your customers. In the older accounting system, the accountants use excel sheets to fill in the expenses. However, in the modern accounting app, it allows quick data entry, segmentation, and automatic balance of expenses. 

### **Invoices:**

Today’s cloud based accounting software lets you create automated invoices and send it across to the customers. It also offers the ability to keep track of the unpaid and paid invoices and income. 

Know more from our clients: [Nerd911](https://www.cloudify.biz/case-studies/nerd)

### **Funding:**

An accounting software keeps track of all the business liabilities as payable values and also updates the balances whenever a payment is made. 

## **Types of Accounting Systems**

### Managerial accounting:

Cost accounting (i.e. cost incurred by business for transactions) and lean accounting (focuses on cost reduction while increasing value) comes under the purview of managerial accounting. 

### **Inventory accounting:**

The accounting system tracks and plan inventory levels.

### **Industry specific accounting:**

These kind of finance apps focus on the needs of the business and can be system tailored for a specific industry. 

### **Not-for-profit accounting:**

The system is able to produce expenditure reports and is also specific for the industry requirements. 

Furthermore, the accounting system used for recording transactions and financial documents that generates financial reports can be classified into two types- single entry system and double entry system. 

| **Single entry system** | **Double entry system** |
| --- | --- |
| It records only income or expenditure. This is a traditional accounting form. | This form is more accurate which keeps track of all the financial data. The data thus can be used for preparing financial reports with graphs and charts. |
| Data tracked – Date of sale, VAT on sale, Item cost, Payment method, account balance | Data tracked – all financial data |

### **Picking the best SaaS accounting platform for your business**

SaaS accountings apps offer you with a robust way to manage your company’s finances from top to bottom. This is because-

*   These apps are cloud based that lets you enter all the financial data effortlessly and automatically update the data. 
*   The platform lets you scale your business seamlessly. 
*   The interface lets you see, analyse and generate financial reports that lets you take operational decisions.

Some of the popular accounting apps for you:

*   Visma e-conomic
*   Fortnox
*   Zoho Invoice
*   Quickbooks
*   Xero

[![CTA-accounting-system.png](/uploads/CTA_accounting_system_f233dc61ab.png)](https://www.cloudify.biz/book-consultation)