Achieving success in the ecommerce world isn’t an overnight phenomenon. It takes strategy, a tolerance for experimentation, patience, and a whole lot of grit. But that doesn’t mean you have to do everything yourself. One of the keys to success is having the right people and tools in place that enable you to focus on what’s truly important. Getting bogged down in the busy work and details can cause you to lose focus. Instead, look for multi-purpose solutions that take things off your plate, such as Webgility, an ecommerce accounting software that automates key tasks. Beyond accounting, Webgility can help you manage inventory, listings, pricing, and shipping, all with a single app. It’s like the Swiss Army knife of ecommerce management.
Not sure you’re ready to stop sweating the small stuff and employ a tool such as ecommerce accounting automation in your business? Six factors indicate your business is prepared to automate and grow to the next level.
1. You’ve moved beyond spreadsheets to manage your ecommerce accounting
If you’ve graduated from spreadsheets to accounting software for ecommerce such as QuickBooks Online or QuickBooks Desktop/Enterprise, you already realize the benefits of a Software-as-a-Service (SaaS) solution. The software has many useful tools built into the software that makes your accounting simpler and tidier. However, you’ve probably realized that it still requires manual data entry, which can take up much of your time. And, with manual entry comes the risk of error. (You’re busy! Everyone is bound to make a mistake when you’re tirelessly growing your business, and accounting is a must-do instead of a get-to-do.)
Automation can save you a substantial amount of time and reduce the chance of mistakes. If you’re already using a business version of QuickBooks, you’re ready to take the next step and outsource your data entry to automation software.
2. Your Orders are Growing – More than 100 Per Month
One of the attractive things about selling online is that you can start small and grow as you get the hang of it and learn what works for your particular niche of commerce. But scaling is difficult when you’re doing everything on your own. When you hit that 100-order-per-month tipping point, you should consider freeing up some of your time by automating your bookkeeping and accounting processes.
When choosing an ecommerce automation platform, you want to be sure the solution can scale with you. You don’t want to invest in setting up a solution that you outgrow and end up searching for and setting up another one. Webgility was designed to scale from 100 to as many transactions as you need. And the software can take you from basic accounting automation to inventory, pricing, purchasing, and shipping management automation as your business needs become more complex.
3. You’ve Gone Multichannel
When you add a sales channel to your retail strategy, you have twice the data to manage between your channels and your accounting system. If you grow into a multichannel or omnichannel business, you’ll exponentially increase the complexity of tracking and syncing all of your transactions. Of course, there are many great reasons to diversify your channels to accelerate your growth. If that’s the right strategy for you, automation should also be a core part of your strategy and will save you a lot of time and money.
For multichannel sellers, using a tool that gives you insights into your business is vital when you’re a multichannel seller. Webgility Intelligence gives you a panoramic view of your business performance and profitability. Understanding what channels are performing, what products perform best on what channels, and their overall profitability will give you critical insights for strategic planning. It uses the same connections as Webgility’s accounting and inventory automation software, making it a solution that adds more value to your business.
4. You’re the One Doing the Accounting Work
As a growing ecommerce merchant, you may be doing everything on your own or operating with a small team of people covering several roles. Bandwidth is likely tight, meaning you have to prioritize activities over others. You know your books need to be in order, so it’s not an option to stop doing your accounting work.
You can outsource your accounting to someone with experience in accounting for ecommerce businesses, which is a great option for many. However, even your bookkeeper or accountant may recommend the automation of accounting workflows. According to Jody Padar, CPA (aka The Radical CPA): “If you can have the automation do 90% of it and you’re just doing the last 10%, you’re going to give yourself time back, and you’re going to save yourself many headaches.”
With Webgility doing a lot of the work for you and your accountant, you’ll gain more time for productive tasks like marketing and promotions, new product development, and more.
5. Your Inventory Management Software is a Separate App to Manage
Inventory is the foundation of every ecommerce business, so having a tool to manage it is critical. Numerous point solutions available will handle this single task for you. Just be aware that it will be one more tool you’ll have to add to your tech stack, onboard, connect with your channels, and learn how to use. Building a solution out of single-task software will eventually take more time to manage than it will save you. And the cost of adding one solution at a time will quickly add up. As we mentioned at the beginning of this article, finding a multi-tasking tool is the secret to maximizing your time and money savings through automation. Consolidating your critical business data – including QuickBooks for inventory – in one tool will reduce complexity and risk.
6. You’re Ready for Ecommerce Success
If you know that time, bandwidth and focus are holding you back from doing more and selling more; accounting automation can help. If you’re just at the cusp of significant growth, ecommerce automation may be a critical tool in your path to success.
Growing an ecommerce business isn’t easy, but if you are strategic about the resources you put in place to support you, you’ll be able to focus on the activities that will drive growth. Multi-tasking automation software can help you with accounting and operational tasks that otherwise require time for manual entry.
Webgility is a top-rated ecommerce automation software that empowers businesses to thrive in ecommerce by integrating their systems, automating their operations, and delivering powerful insights—so they can move faster, make better decisions, and win.