Retail Accounting

Retail Accounting news – brought to you by CounterBooks – www.counterbooks.com

Creating a Fuel Retail Cloud-Based Ecosystem

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Cloud-based EcosystemOne of the key benefits of using CounterBooks is its ability to integrate a number of (otherwise disparate) systems that the retailer already has access to.

When CounterBooks was first conceived and developed, it broke new ground by being the first major UK-based accounting product to be available over the internet.  This brought immediate benefit to our customers in that they became responsible for just the usage of the system, and did not have to worry about managing the installation and support of this key part of their business.  Being able to access their data from anywhere, anytime, was merely an additional bonus to many early adopters.

Several years after the initial launch, we introduced the ability for CounterBooks to import sales and invoice data generated by the existing Point of Sale and Back Office systems already in use at many of our customer’s retail sites.  POS systems that we have developed interfaces for include Wayne Nucleus, Torex Prism, Huth ITAS Vision, Background 2 Flow and Wincor.  This import process now accounts for approximately 80% of all data input into CounterBooks and not only saves our customer many valuable hours of book-keeping time, but improves data accuracy and reporting as well.

We have recently rolled out a further enhancement to this import process that allows us to autonomously collect data on the customer’s behalf and upload it into CounterBooks directly.  The retailer then simply has the responsibility to review and accept the uploaded data before it is saved into their accounts.

We have been able to do this because of recent developments in Cloud-Based ePOS systems that, like CounterBooks, are based on a central data store which is accessed over the internet by the retailer and are designed from the outset with the ability to exchange data with other systems.  These upgrades have also given us the ability to import data from the retailer’s biggest suppliers in a similarly centralised manner.  Providers that we currently work with can be seen here, and we are adding further names to this list on a continual basis.

The upshot of this is that we have enabled the retailer to become part of and to make use of an ecosystem that they may not have realised existed previously.  In fact the process is often so transparent that many of them no doubt remain unaware of its existence even once part of it!  Hopefully, though, all of our customers quickly appreciate the benefits we are bringing them in terms of reduced overheads and staffing costs, improved accounting practices and a better understanding of their business’ financial position.

Author: retailaccounting

CounterBooks is an online retail accounting management suite which is used by retailers across the world.

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