Achieve peak efficiency with real-time inventory insights and automated multi-channel reconciliation
Synder, a leader in financial automation for ecommerce and SaaS businesses, and Cin7, a pioneer in cloud-based inventory management solutions, announced a strategic integration between Synder and Cin7. This collaboration is set to transform how businesses manage inventory and reconcile financial transactions across multiple sales channels and payment platforms.
Businesses operating in the digital marketplace often grapple with the complexities of reconciling sales data from various channels, a process fraught with potential for errors due to manual data entry. The integration of Synder and Cin7 Core addresses these challenges head-on, by automating the reconciliation process, ensuring real-time accuracy in accounting records, and providing a comprehensive view of inventory levels across connected platforms.
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The Synder-Cin7 Core integration allows joint users to:
- Record orders, fees, and payouts automatically in QuickBooks Online, including details from external payment processors such as Shopify and PayPal.
- Match online orders with payments processed through external providers, closing invoices automatically in the accounting system.
- Ensure precise recording of taxes from online sales, categorizing them by state and syncing tax withheld accurately.
- Track inventory across multiple platforms in real time and synchronizes Cost of Goods Sold to accounting records.
- Streamline the reconciliation process across various channels, providing convenient P&L categorization and proper tax recording.
The integration significantly enhances business efficiency by eliminating manual data entry, reducing errors and saving time, all while ensuring data consistency across all systems. Additionally, it frees up resources, allowing businesses to focus more on strategic financial management tasks like monitoring cash flow and profitability, thereby improving overall financial health.
“Integrating Synder with Cin7 Core empowers businesses to not only manage their inventory more effectively but also to handle their accounting with unprecedented accuracy and ease,” said Michael Astreiko, CEO of Synder. “By combining our strengths, Synder and Cin7 are setting a new standard in how multi-channel businesses manage their operational and financial workflows, allowing them to not only survive but thrive in the competitive ecommerce landscape.”
“In realizing our vision of Intelligent Commerce for our clients, one aspect is the seamless automation of financial reconciliation as they grow their business across sales channels,” said Arun Kumar, Global Director of Technology & Strategic Partnerships of Cin7. “Cin7 together with Synder delivers on this promise enhancing financial accuracy, improving operational efficiency, avoiding costly mistakes, and enabling our clients to focus on profitable growth.”
The partnership between Synder and Cin7 represents a transformative step for businesses seeking to optimize their operations and embrace the full potential of digital transformation in inventory and financial management.
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