Earlier this year, we commissioned a research study with Paradoxes Inc., to better understand the impact of manual data entry for retailers, restaurants, non-profits and accounting firms. The first installment covered The economic impact of manual accounting data for retailers, restaurants and accounting firms. The second report covered, Inside the CAS department: Today’s practices & perspectives on ecommerce accounting.
In the third and final market analysis, retailers and accountants reveal their practices and perspectives on ecommerce and sales platforms.
Here are a few highlights:
One of the biggest takeaways is that businesses and finance teams are confused about how to properly integrate these tools into their accounting systems. On average less than half of the 700 surveyed participants give platforms high marks for integration capabilities. Those polled also rated them across reporting and data accuracy.
The data suggests that few in the industry are effectively solving for and building platforms for revenue reconciliation automation. And yet, nearly one-third of accounting professionals said the No. 1 tool that would make the most difference in their practice in the next three years is a technology that can improve the ecommerce reconciliation process.
View the additional insights.
We’ve prepared an Executive Summary of The Reality of Ecommerce and POS Automation that offers a glimpse into the findings and includes charts and graphs illustrating the key data points. It is available for free using the form below.
Fill out this form to receive the Executive Summary via email: