The Tailor SoftLedger partnership aims to enable retail and commerce brands to achieve greater operational and financial agility. Tailor, a headless ERP platform, has teamed up with SoftLedger, a cloud-native, API-first accounting platform. The partnership brings Tailor’s composable modules together with SoftLedger’s API-first general ledger. Operators, thus, can develop a more flexible and agile technology stack.
The companies said the partnership will support modern retail and ecommerce companies. Increasingly these companies are responsible for complex operations across inventory, purchasing and omnichannel orders. At the same time, finance teams need accurate financial data to support day-to-day decisions. So, linking operational systems to accounting platforms can improve financial visibility.
“For fast-growing retail and ecommerce brands, operational agility means little if the financials can’t keep up. By pairing Tailor’s composable and flexible architecture with SoftLedger’s API-first accounting platform, operators can change how their business runs without having to rebuild their financial reporting,” said Yo Shibata, co-founder and CEO of Tailor.
Tailor and SoftLedger Connect Operations With Financial Data
The Tailor SoftLedger partnership unites two platforms that are focused on flexibility and connectivity. Tailor offers composable modules that enable operators to design and manage their core business processes. These include inventory management, purchasing, and omnichannel order management, among others. On the other hand, SoftLedger is a financial system that serves as the foundation for the operational functions.
In this case, SoftLedger acts as the financial system of record for the combined technology environment. Its cloud-native, API-first general ledger is designed to provide real-time multi-entity consolidation. Moreover, the program is suitable for managing multi-currency consolidation to meet the needs of businesses’ growth. As a result, multiple entities can be consolidated with ease and accuracy using different currencies.
The integration can synchronize operational data with the general ledger automatically. It makes it possible to establish a single source of truth and drive finance and business operations with that. Moreover, the automatic flow of data can make it possible to eliminate manual financial processes. In addition, it can enable faster month-end closings. Finance teams can obtain access to financial information and let business operations scale. It can make it possible for finance teams to monitor the performance and adapt to the evolving business needs.
“Modern retailers shouldn’t have to choose between operational flexibility and financial visibility,” said Ben Taylor, CEO of SoftLedger. “Tailor gives operators a composable way to run their business, and SoftLedger makes sure every transaction flows straight through to their financials. Together we enable retailers to use their financial data to make better strategic decisions.”
API-First Approach Supports Retail Technology Flexibility
The partnership also demonstrates Tailor and SoftLedger’s shared API-first philosophy. Both platforms are focused on adapting to how businesses work. The platforms support flexible technology architectures, rather than rigid legacy systems. This model can enable retail and ecommerce companies to adjust their technology as business needs change. Tailor’s composable approach gives operators flexibility across their business operations. SoftLedger, in contrast, links these activities to accounting and financial reporting.
Combined, the two platforms create an ecosystem for financial and operational management. It can help organizations deal with challenges of disconnected operational and monetary systems. The new partnership with Tailor SoftLedger additionally emphasizes the growing importance of the API-first approach to accounting in today’s business. As the retail industry continues to converge, organizations need end-to-end systems that automate and connect core operations. At the same time, the expansion of business activities demands an increase in the capacity of financial management. The same applies to multi-channel sales, multi-currency processing and multi-entity management.
By merging the power of composable ERP with the possibilities of cloud-native accounting, Tailor and SoftLedger aim to meet these needs. In fact, their joint effort is geared toward linking business processes with financial outcomes and providing managers with unified software that is highly customizable and scalable. Such a solution allows users to adapt their financial reporting and management processes and make a step forward toward comprehensive ecommerce operations without starting from scratch.
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News Source: Businesswire.com
