Consolidate multi-entities into one database
As your business grows and evolves, so does the amount of problems landing in your inbox. So naturally, for a business comprised of multiple entities, the situation gets even worse, right? From overlapping and redundant data entry and management, to inaccurate and delayed reporting based on obsolete data, you’re in the thick of it. So, what do you do? Just gut it out? Discover a secret operational formula? Not exactly.
While you’re excited and happy for your company’s growth and expansion, you probably didn’t expect to evolve so rapidly. What started out as a strong, but singularly structured business in one location expanded to add a separate sales office in another state, which gave way to an international call center. Understand, this isn’t happening over the course of a generation, but within a few years. For some businesses, it’s happening faster at earlier stages in their life cycle.
Multi-entity problems overlap by varying industries and hit businesses of all sizes and stages of development. From restaurant chains to property management firms to chartered schools, multi-entity management can overwhelm even the most diligent operations.
Common multi-entity problems include, but are not limited to, the following:
Inefficiency Managing each Entity in a Separate Database
Delayed and Inaccurate Reporting
Lengthy Month-end Processing to Close Financials
Redundant and Overlapping Customer Data Management
Difficulty & Delays Accessing & Retrieving Vital Information
Time Spent Processing Transactions to Each Entity
While the types of problems and issues will vary from one business to another, a common thread is present in most. Many accounting applications are structured to have a distinct and isolated database for each entity. This silo effect creates a whole host of problems.
A solid, single database, one platform
Not to worry; there is a light at the end of this multi-entity tunnel. You could implement a cloud-based solution to consolidate all your multiple entities into one database. Yes, there is a viable and efficient solution for most of your operational woes. When you successfully consolidate your customer and financial information into one centralized database, you’ll streamline your operations from one entity to the next, while eliminating many of the inefficiencies that plagued your business.
Why not upgrade to a cloud-based solution that can manage all your multiple entities or multiple locations in one database? By doing this, your business can promote better efficiencies without having to allocate additional time, money and resources to maintain each additional database. How so? When a database is cloud-consolidated, you’ve immediately eliminated those extra and unnecessary steps previously taken to gain access from one entity’s information data to another.
When your company information is properly consolidated into one database, you’ll enjoy…
Easy Access Without Sacrificing Security: You’ll be able to designate, determine and control accessibility, based on role and function. Across the board, from one entity to another, you can determine who can, and who cannot access specific areas of information.
Improved Visibility: By consolidating the data from multiple locations into one cloud based solution, you get improved visibility on any single entity at any level
Real-time Reporting: From one entity to the next, timely and precise reporting will be the norm. Staff and team members from all over will spend less time searching for and retrieving information, while providing a more concise and proactive analysis with each report.
Less Redundant Data Entry: From Sales and Marketing, to your Customer Service team, you’ll spend less time entering and updating customer data.
An Overall, Streamlined Operation: Properly consolidated data translates into a win-win for every area of your growing business. Without sacrificing security, you’ll have an empowered team that can access and retrieve the information they need, when they need it, without delay. The amount of time saved, resonates as a positive ripple effect, for which the benefits can be felt all over.
With a single database and proper security measures in place, you can make that translation into dollars saved instead of money lost. Enter Gravity Software® (Gravity). Gravity’s accounting solution is written on the Microsoft Power Platform (aka Dynamics 365 CRM). If your business is on an entry level accounting solution like QuickBooks, upgrade your system to Gravity Software. Gravity can help your growing business reduce costs, be more effective and efficient in the work that you do. Move your business forward so you can consolidate all your multi-entities into one database and start making better informed decisions. Learn more and schedule your demo today!
Better. Smarter. Accounting.