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How can you integrate your forecasting software with other business systems?

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Forecasting software can help you plan, analyze, and optimize your business performance. But to get the most out of it, you need to integrate it with other systems that collect, store, and share data across your organization. In this article, you'll learn how to connect your forecasting software with four common types of business systems: accounting, CRM, ERP, and BI.

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Mike Lester Rosales

Solving Business Challenges with Process, Technology and Design with Strong Focus on Data Privacy and Cybersecurity
Lucio Risi

Head of Finance l CFO | Finance Director | Business Transformation l FP&A l Controlling

1 Accounting systems

Accounting systems record and process your financial transactions, such as invoices, expenses, and taxes, as well as generate reports and statements that show your cash flow, profitability, and compliance. By integrating your forecasting software with your accounting system, you can leverage historical data and trends to improve forecast accuracy and reliability. Additionally, you can export forecast scenarios and assumptions to compare them with actual results and variances. Automating data synchronization and reconciliation can save time and avoid errors. To integrate your forecasting software with your accounting system, you can use APIs, connectors, or middleware that enable data exchange and communication between the two systems. Alternatively, you can use standard formats such as CSV or XML to import and export data files.

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Mike Lester Rosales

Solving Business Challenges with Process, Technology and Design with Strong Focus on Data Privacy and Cybersecurity
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Another way of integrating your accounting software with your forecasting software is to use middleware platforms or in modern terms low code integrators, Robotics Process Automation (RPA) platforms like @Robomotion and @PythonRPA.

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Lucio Risi

Head of Finance l CFO | Finance Director | Business Transformation l FP&A l Controlling
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No disagreement on integration of fcst system to accounting system by using CSV or XML however this is obsolete. We are living digitalization era and integration must be online or, at least running through scheduled jobs and/or RPA. Forget integration with others satellite system and link all data to accounting because of risks involved. All business transactions get to end in accounting which is carefully revised and represent the final numbers to be disclosed. Historical data and accuracy of these datas are mandatory for a good forecast. Onde is does not exist, the system stand alone will not provide a good forecast itself regardless integration type. Connect it to accounting and feel comfortable that historical data will be accurated.

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2 CRM systems

CRM systems manage your customer relationships, from leads and prospects to sales and service, while also tracking and analyzing customer behavior, preferences, and feedback. By integrating your forecasting software with your CRM system, you can incorporate customer data and insights into your demand and revenue forecasts, align your sales and marketing activities with forecast goals and targets, as well as monitor and measure customer satisfaction and loyalty. To achieve this integration, you can use APIs, connectors, middleware, or standard formats such as CSV or XML to import and export data files.

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Mike Lester Rosales

Solving Business Challenges with Process, Technology and Design with Strong Focus on Data Privacy and Cybersecurity
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Having a Data Warehouse would help optimize the exchange of information between your CRM and Forecasting software by regularly dumping data from your transactional database (in this case your CRM) to your Data Warehouse where your Forecasting software picks up the information for processing.

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3 ERP systems

ERP systems can integrate and automate your core business processes, such as inventory, production, distribution, and procurement. They also provide a centralized database and dashboard to show your operational performance and efficiency. By integrating your forecasting software with your ERP system, you can adjust supply and capacity forecasts based on demand and inventory levels, optimize resource allocation and scheduling based on forecast scenarios and constraints, and enhance collaboration and coordination across departments. To do so, you can use APIs, connectors or middleware to enable data exchange between the two systems. Alternatively, you can use standard formats such as CSV or XML to import and export data files.

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Lucio Risi

Head of Finance l CFO | Finance Director | Business Transformation l FP&A l Controlling
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As I have said in my last comment, I do not recommend to integrate forecast system to the entire ERP system. There is significant risk involved. ERP system does not comply to regulations and don′t have necessary adjusts. Otherwise, connect the forecast to the accounting which is a module of the ERP. It will be possible to analyse figures account by account and understand behavior of groups.

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4 BI systems

Business Intelligence (BI) systems are used to collect and analyze data from various sources, and present them in visual and interactive formats, such as dashboards, charts, and tables. Integrating your forecasting software with your BI system can provide access to multiple systems and sources of data, enabling you to enrich your forecast inputs and outputs. Advanced analytics and machine learning techniques can also be applied to enhance your forecast models and methods. Furthermore, dynamic and customized reports and visualizations that showcase your forecast results and insights can be created and shared. To integrate your forecasting software with your BI system, APIs, connectors, or middleware that enable data exchange and communication between the two systems can be used. Additionally, code blocks containing forecast functions and scripts can be embedded using

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This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you integrate your forecasting software with other business systems?

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1 Accounting systems

2 CRM systems

3 ERP systems

4 BI systems

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