The importance and selection guide of cross-border e-commerce data analysis and financial software

The role of data analysis

Data analysis plays an important role in the daily operation analysis of cross-border e-commerce companies, which is mainly reflected in three aspects: current situation analysis, cause analysis and predictive analysis.

Current situation analysis

Current situation analysis provides the overall operation status of cross-border e-commerce companies at this stage, including the completion of various operating indicators and the development and changes of various businesses, and is used to measure the current operating status of cross-border e-commerce companies. The results of status analysis are usually presented in the form of daily, weekly, monthly, quarterly, annual, etc. reports.

Cause analysis

Cause analysis is to further find the root cause of the problem based on the current situation analysis. For example, the decline in sales may be due to reduced store traffic, reduced conversion rate, or reduced unit price per customer. Find the problem through cause analysis and take appropriate solutions.

Predictive analysis

Predictive analysis is to predict future development trends and help companies formulate operational plans. For example, cross-border e-commerce business operators can predict next month’s sales based on sales trends in recent months, and use this as a basis for operational goals and employee assessment.

Data analysis classification

Data analysis can be divided into three categories according to different purposes and methods: exploratory data analysis (EDA), confirmatory data analysis (CDA) and descriptive data analysis.

Exploratory data analysis

Exploratory data analysis refers to exploring existing data with as few a priori assumptions as possible, focusing on discovering new characteristics of the data. This analysis method focuses on the regularity of the data itself and allows the data to “speak for itself.”

Confirmatory data analysis

Confirmatory data analysis is performed with a pre-set model and focuses on verifying or falsifying existing hypotheses.

Descriptive data analysis

Descriptive data analysis is the analysis of various characteristics of a set of data, such as mean, standard deviation, median, frequency distribution, etc., in order to describe the characteristics and distribution of the measurement sample. This type of analysis is the basis for complex statistical data analysis.

The role of foreign trade e-commerce financial software

With the rapid development of the cross-border e-commerce market, the financial management of foreign trade e-commerce companies has become increasingly complex, and they need to deal with issues such as multiple currency settlements and multiple tax rules. Foreign trade e-commerce financial software emerged as the times require. It can not only automate financial processes, but also handle multiple currency settlements and tax rules.

Automated financial processes

Foreign trade e-commerce financial software can automatically handle invoice management, payment management, report generation and other processes, significantly reducing the time and cost of manual processing of financial data.

Multiple currency settlement

In addition, it can also handle multiple currency settlements, such as US dollars, euros, pounds, renminbi, etc., helping foreign trade e-commerce companies conduct cross-border settlements.

Various tax rules

Financial software can also handle various tax rules to ensure that businesses comply with local tax requirements.

How to choose foreign trade e-commerce financial software

When choosing foreign trade e-commerce financial software, you need to consider the following factors:

Full-featured

First of all, choose software with full functions, including invoice management, payment management, tax management and other functions to meet all the financial needs of the enterprise.

Strong compatibility

Secondly, the software needs to be compatible with various e-commerce platforms and payment methods, and be able to seamlessly connect multiple business processes.

Data analysis ability

In addition, the software should have data analysis capabilities to provide enterprises with financial data analysis and decision-making support.

Service quality

You also need to choose a manufacturer that provides professional after-sales service and support to ensure the stability and reliability of the software and that problems encountered during use can be resolved in a timely manner.

Reasonable cost

Finally, in terms of cost, companies need to make a reasonable balance between software purchase costs, maintenance costs, upgrade costs, etc.