Achieve peak efficiency with real-time inventory insights and
automated multi-channel reconciliation
SAN
FRANCISCO, May 13, 2024 /PRNewswire/ -- Synder, a
leader in financial automation for ecommerce and SaaS businesses,
and Cin7, a pioneer in cloud-based inventory management solutions,
today 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.
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.
About Synder
Synder simplifies bookkeeping and
financial management for online merchants, SaaS companies, and
accounting professionals by automating online sales bookkeeping and
multi-channel reconciliation. Integrating with over 30 major sales
platforms and payment gateways, Synder consolidates transaction
data in a single source of truth, your accounting system,
streamlining workflows and enhancing efficiency. More at
synder.com.
About Cin7
Cin7 provides Connected Inventory
Performance with its cloud-based inventory management software,
enabling growing product businesses to gain automated and real-time
insights across the entire inventory lifecycle. Cin7's products,
Core and Omni, integrate with over 700+ applications, allowing
businesses to consolidate, streamline, and scale their inventory
operations from a single platform. More at cin7.com.
Media Contact:
Anna Misiuro
4155392507
377586@email4pr.com
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SOURCE Synder