One thing small and midsize business owners don't have a lot of is time. This is especially true when it comes to menial tasks that often take priority over the more important work of strategising to expand the business. One of these menial tasks is the bookkeeping that needs to be done to track the business's transactions, invoices, and payments.
As small businesses grow and transition from using small accounting software to ERPs to manage their entire business, one surprising drawback is the lack of automation when it comes to inputting bank and transaction data. Most ERPs simply don't have this functionality.
This manual task is a challenge for business owners that cuts into personal and family time, costs the business money due to the time that the business owner invested in doing it, and carries the potential human error that comes with manually working with numbers.
After working with businesses for decades, the Key Business Solutions team recognised that this process was wholly inefficient. As an SAP Business One partner, we knew that we could make the experience better for its users - so we approached SISS Data, Australia's largest provider of bank-approved data, and worked with them to develop a solution.
The result is ACSISS Connect, an automatic bank feed feature that takes account transactions from banks and maps them to SAP Business One automatically and securely every day, using SISS Data Services.
Save time and money with automatic bank feeds in SAP Business One
SAP Business One is one of the best ERP systems for small and midsize businesses. It streamlines processes and gives you greater insight into your business so that you can act fast, make decisions based on real-time information, and drive profitable growth.
And the ACSISS Connect integration has just given business owners another reason to consider this ERP.
With ACSISS Connect, business owners no longer need to sit for hours to match up bank and transaction data into SAP B1.
ACSISS Connect has everything you need to simplify and utilise account transaction data. Connect your bank to SAP B1 and unlock:
- Process automation - receive your bank transaction data each day, eliminating the traditional manual data verification process
- Improved data security - using data supply agreements, ACSISS Connect only receives data under the express authority of the account holder, never through non-approved methods
- Improved data accuracy - automatic uploading of data directly from the source eliminates manual and human error
This is especially beneficial to businesses in the eCommerce and wholesale distribution spaces which manage hundreds of daily transactions on multiple platforms, such as Amazon, Shopify, or eBay, that send through multitudes of invoices - or even just one lump figure - that need to be broken down.
Further complicating the process, all of these platforms have their own payment gateways, such as PayPal or Stripe, taking a commission. Businesses need to account for the percentage of the transaction that goes to the gateway.
ACSISS Connect takes all this work out of your hands, easily matching up hundreds of invoices and transactions from multiple banks or accounts into your accounting software.
It gives business owners in any industry the freedom to focus on growing and expanding their business, saving costs by automating a task that previously took hours, and providing the security of knowing that their transactions and payments are no longer at risk of miscalculation.
Stop wasting time on a task that can be automated
If you're a time-poor business owner looking to find a better solution to manually track your transactions in your ERP, it might be time to switch to an ERP that can automate the process for you.
You can contact our team today to enquire how SAP B1 is right for your business and how you can add further efficiency and visibility over your financials by integrating ACSISS Connect.
