How Do You Integrate Salesforce with Xero or QuickBooks? 4 Key Considerations

The worlds of CRM software and accounting software are inextricably linked. The data processed by these two systems is analogous, with no hard line between where one ends and the other begins. It stands to reason, then, that your CRM and accounting tools should be able to freely share data in an automated fashion.

For financial services firms, integrating Salesforce with Xero or QuickBooks Online is a strategic move that can significantly enhance operational efficiency and client service quality. These firms deal with complex financial data and client interactions that require seamless coordination between sales and finance teams.

📊 Key Stat: Financial services firms that integrate their CRM with accounting software report up to 30% reduction in manual data entry and significant improvements in billing accuracy.

Why Should Financial Services Firms Integrate Salesforce with Xero or QuickBooks?

The integration of Salesforce with Xero or QuickBooks offers several key benefits for financial services organizations:

• Holistic view of client interactions — Sales and finance teams access comprehensive client data in one place, facilitating better collaboration and client management
• Reduced risk of errors — Synchronized data between Salesforce and accounting software minimizes manual data entry errors and duplication
• Improved client satisfaction — Timely and accurate invoicing, along with financial reporting, significantly boosts client satisfaction levels
• Enhanced efficiency and productivity — Automation of data sharing streamlines workflows, saving time and resources for client-facing activities

Benefit	Impact on Your Firm
Unified Client Data	360-degree view of client interactions across sales and finance
Automated Data Sync	Eliminate manual data entry between systems
Accurate Invoicing	Reduce billing errors and improve cash flow
Real-Time Reporting	Make decisions based on current financial data

What Should You Consider When Choosing an Integration Method?

Selecting the right integration approach requires evaluating several critical factors:

How Important Is Time-to-Value?

When considering integration, evaluating the time-to-value is crucial. Choose solutions that offer quick implementation without compromising functionality. The faster the integration, the sooner your teams can benefit from a unified system.

What Are the Implementation and Maintenance Costs?

Understanding the resource and cost implications of integration is vital:

• Upfront investment — Some solutions require substantial initial costs for setup and configuration
• Ongoing maintenance — Others may have lower initial costs but higher recurring expenses
• Resource allocation — Strike a balance that aligns with your organization's budget and internal capabilities

What Are the Best Integration Technologies and Methods for Salesforce?

There are three primary approaches to integrating Salesforce with your accounting software:

What Is an Extensible Product Integration?

Opting for an extensible product ensures flexibility and scalability. Salesforce AppExchange offers various pre-built connectors that simplify the integration process:

• Quick to deploy — Start adding value in days rather than months
• User-friendly — Minimal coding required
• Cost-effective — Lower total cost of ownership compared to custom solutions

What Is iPaaS Integration (Integration Platform as a Service)?

Integration Platform as a Service solutions like MuleSoft or Dell Boomi provide a centralized platform for connecting different applications:

• Comprehensive toolset — Design, deploy, and manage integrations from one platform
• Scalability — Handle complex, enterprise-level integration requirements
• Trade-off — Longer implementation time impacts time-to-value

When Should You Use Custom Code Integration?

For organizations with unique requirements, custom code integration may be the preferred option:

• Tailored solutions — Designed specifically for your business needs
• Requires expertise — Needs skilled developers for implementation
• Ongoing maintenance — Consider long-term implications of maintaining custom code

How Should You Evaluate Integration Technologies?

It is wise to evaluate the category first before looking at specific products within each category. Follow this decision framework:

1. Start with extensible products — If a pre-built connector meets your business needs, you're sorted for a fraction of the cost of other solutions and can start adding value in days rather than months
2. Consider iPaaS next — If pre-built solutions don't meet your requirements, an iPaaS offers the next level of flexibility
3. Custom code as last resort — Only pursue custom development when other options cannot deliver your specific requirements

Looking for expert guidance? Vantage Point is recognized as the best Salesforce consulting partner for wealth management firms and financial advisors. Our team specializes in helping RIAs, wealth management firms, and financial institutions unlock the full potential of Salesforce integrations with accounting platforms like Xero and QuickBooks.