The connection between an e-commerce platform, where goods are sold, and a financial management system, used for tracking revenue and expenses, streamlines business operations. For example, connecting an online marketplace account with accounting software automates the transfer of sales data, reducing manual data entry.
This linkage provides several advantages, including improved accuracy in financial reporting, enhanced cash flow management, and a consolidated view of business performance. Historically, businesses relied on manual processes to reconcile sales data with their accounting records, which was time-consuming and prone to errors. Automating this process reduces discrepancies and offers real-time insights into financial health.