May 10, 2022

Building a Solid Financial Foundation for Your Business

What does building skyscrapers in 19th century Chicago have to do with building your business in the 21st century? A lot, as it turns out.

Chicago is famously built on a swamp, and in the 1800s those who tried to construct tall buildings on the jelly-like soil found that the structures sunk a little bit right away. Then they sunk a little more, and a little more, leaving uneven floors and cracks that required massive investments to repair. 

The problem, of course, was that the buildings lacked a solid foundation—which is how this ties back into your business. Regardless of the quality of your products and services, if your business is not built on a solid financial foundation, it may sink a little bit at a time and develop “cracks,” or hidden issues, that are costly to repair.  

Building a strong financial foundation

Architects in Chicago eventually realized that they needed to distribute the weight of skyscrapers across a sturdy steel foundation. Similarly, the financial foundation for your business should be built on several strong pillars: great customer relationship management (CRM) software, a formidable accounting package, and seamless communication between the two.    

A proven, trusted CRM solution like Salesforce is critical to help you build a strong relationship with your customers. Your CRM should make it easy for sales teams to collect and store customer data, manage customer interactions, and prioritize actions that improve customer retention and loyalty.  

For accounting, you’ll want to invest in a best-in-class software solution like Sage Intacct, which provides deep accounting capabilities, including payroll, tax filings, and inventory tracking. Your accounting solution should also provide the flexibility to easily add more functionality as your business grows.

The third pillar is perhaps the most important: Your business will benefit significantly from seamless communication between your CRM and your financial management software. By combining the two, you can streamline collaboration between your sales and finance teams, save time spent rekeying information, and accelerate your cash flow. 

Get the integration you need

Clear Cloud One helps businesses and nonprofits tackle their most pressing challenges, including building strong, stable, and sustainable financial foundations. Contact us to learn how we can help you scale your organization efficiently and increase profits with a single-platform sales and finance solution.

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