Earlier, people went through lengthy and complicated steps to trail the expense and incomes. But, in recent years, many things have been changed. The first step towards personal and business finance management is the implementation and integration of financial management applications into your system. Today, the best part is these applications can be custom created and can further be tailored following your workflow and business process needs. Isn’t it great?
You must be wondering, what benefit you can gain by creating an application when you can use the third-party application. Well, this goes beyond just integrating third-party applications. For instance, you are a small business, providing services or products to less than 100 people. And, for doing so you don’t have to travel outside the city or exchange currencies. But the application that you are using contains travel expenses and you continuously have to change the currency type to calculate revenue. It’s too much work.
Unlike this, with Zoho Creator, you can create an application that has a custom workflow or contains no redundant features and offer a smooth approval process, all of his makes things lively. Besides, it empowers the finance managers to organize finances more efficiently and group income and expense by accounts and types, do better accounting that helps in finance goals achievement and quicken approval process.
Here in this piece, you will find a brief overview of Zoho Creator, including a list of applications that you can use to create a custom finance app. If you can’t create an application or find workflow customization daunting, then you can always get in touch with certified Zoho Creator Consultants and Zoho Partners who can develop custom finance applications for you to optimize its workflow from scratch.
What is Zoho Creator?
It is one of many Zoho Applications that is specifically designed to reduce the need for lengthy application creation. It offers drag-and-drop features that allow non-technical and technical staff to create a custom application to match their business and operation needs. Moreover, from website designing to fleet management and employee leave management, you can create dozens of applications and automate your workflow. All you need would be a workflow and small talk with the concerned person. Another best thing is you can use the custom application on mobile, web, and tab alike. For which you won’t have to re-write the code.
Why Develop Custom Finance Application?
When it comes to businesses, whether it is operating virtually or onsite, there are a number of things that needed to be recorded including payments, expense, income, and profit. For this, to work you need to segregate everything by accounts. However, things are made difficult when you are manually keeping and managing things on paper, especially in the era of paperless transactions. On the other hand, it put pressure on the finance officers and managers. Hence, to reduce the efforts, you can create a personalized finance tracking application from scratch.
Some of the essential benefits a customize application offers are 360-degree control on business finance, quick request approval, and zero to none error. Along with this, one can create reports in a matter of minutes and forecast revenue, and proactively minimize expense on the basis of past financial data.
Learn More: Zoho Finance Plus A Must-Have Suite For Accounting And Finance Management
Process Of Customer Finance Application Development
In Zoho creator, the process of finance tracking application is simplified to such a level that a finance manager can create a custom application with no coding experience. All you need to do is follow 3 steps:
- First, select pre-built Forms or design one from scratch. Add the item that you need, first, you had to add accounts and categorized them into payables, and receivables. Later, add the information related to vendors, customers, and employees.
- The next step is to create a Workflow that links every item, inputs, and update information automatically. For this, you might need a little codding experience, or you can hire a technical assistant to do the work. Once you establish a workflow and linked every input with action then the only thing left would be data input.
- Lastly, set up the Dashboard. There are many pre-built templates are already available, if you find none that matches you need then create one from scratch by adding an element such as fiscal year chart, audit chart, payable and expense details, option to add new input, and quick links to sales, projects and account reports, income vs expense and thus, you can manage everything from one screen.
Finance Applications in Zoho Creator
In Zoho, there are over 54 applications that one can use to automate your business and this creates confusion. Hence, Zoho Creator has segregated every application on the basis of business operation. For finance, there are five applications that you can mix and match to create your personalized application workflow.
1. Corporate Travel
This is a complete suite that contains a dashboard that is loaded with key information on travel expense needs. From here you can not only process travel requests including departure, arrival, and accommodation, but you can also manage visas and passports of all resources.
2. Expense
It is linked with central CRM and leverages the data of the employee database to manage and reimburse expenses online. Since everything is segregate by employees types, submitters, and approval categories, so you won’t have to spend hours verifying and approve the request. Along with this with auto alerts, you won’t missout any request or payment deadline.
3. Loaner
It connects the borrower with the lender, where they can access the showcased product and send the request which can be entertained speedily. Additionally, your can ask for feedback on products, set product return reminders, and create a workflow for instant product access renewal.
4. Finance Tracker
It provides centralized access to finance, including taxes. You can also create digital finance statements, monitor income generation, and expense from the comfort of your desktop and smartphone.
5. Personalize Finance Tracker
With this, you can manage accounts categorized income, expense, and forecast revenue on the basis of past data. Compile statement with complete information on deposit, withdrawal, and expense. Besides you can store and organize bills online by scanning the receipts.
Read: 5 Signs Zoho Expense Services Is Inevitable For Your Company
Parting Words
One of the worst thing about using third party build finance application is the prebuilt feature, which one cannot even personalize or hide it from the navigation bar. In addition to this, you have to pay an excessive fee even for not using the redundant feature. Unlike this, by using customize applications you can reduce the finance cause, and the features highly customize. This means you won’t find to need to integrate third-party applications.
For more details and Zoho Finance application customization, you can reach out to Zoho Creator Consultants at Techloyce.
