Archive for the ‘CRM Systems Quotes’ Category

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7 Reasons Why Your Business Needs Accounting Software

In Business Buy Guide,CRM Accounting Software,CRM Systems Quotes on September 1, 2010 by businessbuyguide Tagged:

Is your company still stuck with using folders keep receipts, invoices, and all your accounting data? At the rate our technology is improving, more and more small businesses and companies have chosen to go paperless.

Why you need this

If you are still thinking about whether you should do this for your own business, then maybe you should consider the following reasons why you need accounting software.

  1. It keeps you organized. The first benefit of having accounting software is that it helps you keep organized. Though some people are used to storing their paperwork in shoeboxes and folders, software does a better job at filing, organizing, and cataloguing. All in a click of a button.
  2. For easy and efficient information management. With accounting software, you can easily retrieve records and other vital information that you will need to make important business decisions.  Not only does it allow you to safe-keep financial information, but it also lets you update your records as needed. Legally speaking, you are required to have your accounts and books for the past six years on hand.  Moreover, financial planning needs, like mortgages or loans, will require your complete business background and previous performance information.  By having accounting software, the days of going through each shoebox and folder will be over and you can have the information right at your fingertips.
  3. It prevents you for incurring penalties. There is a price for inaccurate or incomplete information for taxation or VAT purposes.  To avoid paying unnecessary penalties, most companies use an accounting system. Moreover, when tax season comes, it’ll be easier for you to prepare the company’s taxes.
  4. Accounting software provides you with consistent account management. Employees come and go.  And because such changes occur every now and then, a standardized accounting system makes the transition, from one employee to another, easier. Furthermore, a system lessens subjectivity and allows you to have clear visibility of your financial position.
  5. It saves you money. We always say that time is money. By having a computerized system, you will save time from manually managing your records. This may also mean that you will need less people to do the work.  Moreover, your staff can focus on other important parts of the business.
  6. It reduces the fraud risks. Every business owner knows that fraud is a serious risk. Having an organized system makes it more difficult to commit fraud and easier to spot attempted embezzlement. Protect your business by investing in the right accounting software.
  7. Think about the long-term benefits. Technology evolves over time. You do not have to make tremendous adjustments if you  have an automated system in place.  Instead, you will only need to adapt incrementally. Nowadays, third-party software providers offer plugins to existing accounting systems so the system can adjust to changes without needing to purchase new software altogether.  Another advantage is that these plugins are being updated or developed over time to help reduce cumbersome manual tasks.
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Articles

High Quality CRM

In Business Buy Guide,CRM Systems Quotes,CRM-Customer Relationship Management on August 30, 2010 by businessbuyguide Tagged:

For businesses large and small, their profitability and success depends upon customer retention, customer relationship enhancements, and customer acquisition. This is often known as Customer Relationship Management or CRM. CRM is the managing of all business and interactions with customers.

The main purpose of Customer Relationship Management is to allow businesses to better manage their customers through the introduction of reliable systems, processes, and procedures for interacting with those customers.

A good CRM program helps the business acquire customers and service the customers. Good CRM also helps retain good customers and identify which customers can be given a higher level of service.

CRM is a complex mix of business processes, enterprise strategies, and information technologies, which are used to study customers’ needs and behaviors to help businesses develop more substantial relationships with them in order to get greater results.

In the late 90’s, customer relationship management mainly consisted of just an index file, an answering machine and a telephone. Today, an advanced CRM system has evolved into an Excel spreadsheet and more. CRM systems normally consist of email and/or snail mail, marketing campaigns, contact manager programs, sales tracking program, and multi-media contact center or voice mail system.

A successful CRM strategy doesn’t just mean simply installing and integrating a software package; it also involves a wider approach including modifying business processes based on the needs of customer, training of employees, adopting relevant IT systems and software, and IT services that allows firms to track their CRM strategies.

Good CRM software can help run an entire business by allowing companies to maintain all customer records in one centralized location that is accessible to the whole organisation. Front line offices have systems that are set up to collect data from the customers for processing at the data warehouse where data is stored, orders are filled and tracked, and sales data analyzed.

One of the most common causes for customer relationship management system failure is poor data quality, which can be easily avoided. CRM systems are as useful as the information it provides. The old saying “garbage in, garbage out” can be applied to CRM data quality. To ensure good CRM data quality, be sure to input the data accurately; check data entries twice to minimize the possibility of duplication; if there is an error in the provided information or if the information is not complete, then re-establish contact with the customer to recheck the data.

Do you have the best CRM system?

Articles

Loyal Customers are Key

In Business Buy Guide,CRM Systems Quotes,CRM-Customer Relationship Management on August 27, 2010 by businessbuyguide Tagged:

Talk to many business people about how they approach customer service and the majority of them will say that they are aiming to have ‘satisfied’ customers. And, that’s the wrong answer.  The real foundation of profit is found in having loyal customers.

Loyal customers are your brand advocates. They will be the first to try out you new product; they give you honest and critical feedback; and they refer business to you. This will truly develop your business profit center.

They are in control

Do you know the best ways that your clients like to receive information or notices of news of updates in your business?

Build relationships

Loyalty customers come from having a true relationship with your customer. Aim to build rapport. Find out their interests. Keep in regular contact with them for the purpose of getting to know them – not selling something to them.
All of this will help in building a long term relationship. Once you have this, they are less likely to walk away.

Help your team generate rapport with customers

How can you cultivate a loyal customer if your team doesn’t even know who  your customers are or anything about them?   To move your business forward, some type of customer relationship management system needs to be in place to provide staff members with good information.  Customers will be more loyal if they see familiar faces. A business with a high staff turnover will find it difficult to build a relationship with their customers.

Treat your staff well. Reward their successes and recognise their achievements. Hold regular training sessions so they feel they are learning and developing.  And, provide them the necessary tools and training to develop great customer relationships.

Seek complaints

This may sound strange but the customer who complains is giving you value feedback and the opportunity to develop a good relationships where the customer who silently leaves removes any of those possibilities. Set up a clear complaints procedure or line of communication with your customers.  Provide staff with the tools to effectively deal with customer problems. Follow up all complaints to ensure that they have been resolved.

The old 80/20 is likely to apply to your business – 80% of your sales or profits are likely to come from just 20% of your customers. Work out who your top 20% is!

So, how will you know?  Good CRM is the key!

Articles

Consider Your Budget

In Business Buy Guide,CRM Systems Quotes,CRM-Customer Relationship Management on August 25, 2010 by businessbuyguide Tagged:

Budget

Make sure you look for hidden costs in addition to costs for items such as licenses, hardware and other infrastructure. These could include costs for implementation, training employees and customers, business reengineering, increased service requirements from infrastructure vendors and internal IT support.

Implementation

This involves tasks such as system installation, printer installations, user configurations, preliminary training and system testing. While planning, keep in mind the importance of effective implementation. Many companies do not get the expected results out of a CRM solution simply because of faulty implementation by the vendor. Take references and cross-check success rates of prior implementations done by your shortlisted vendors. You may also consider purchasing the application from an OEM and having it implemented by a specialised provider.

Do you think there are other budget considerations?  Please share your thoughts in the comment section below.

Articles

How Do You Select the Right CRM Provider?

In Business Buy Guide,CRM Systems Quotes,CRM-Customer Relationship Management on August 23, 2010 by businessbuyguide Tagged: ,

Selecting software packages can be very tricky. It often requires you to re-engineer your business processes, human resources and operational systems to achieve the desired results. When selecting an application that is your direct interface with customers, it becomes increasingly imperative to adopt a systematic approach to package and vendor selection. The luxury of pouring financial resources to fix initial errors may not be an option, especially for a small business.

Let us look in greater detail at how to go about selecting the right product and service providers.

Needs Assessment

All levels of your organisation and all departments must be engaged in this process. This is important not only to recognise departmental objectives, but also to communicate the importance of the CRM initiative.

More customised assistance…

Articles

What Can CRM do for Sales?

In Business Buy Guide,CRM Systems Quotes,CRM-Customer Relationship Management on August 20, 2010 by businessbuyguide Tagged: ,

You might think that CRM is an over-hyped contact management system. But any business manager realizes that increased customer satisfaction, better co-ordination between employees and well-informed staff will boost an organization’s profits. All these benefits can be realised through CRM. A CRM solution goes beyond simple contact management. It also affects departmental functions such as sales, marketing and HR to make your organization increasingly customer-focussed through the use of technology.

Some of the benefits of CRM for a business like yours are:

  • More effective sales calls
  • Increased sales through repeat business from past customers
  • Improved ability to provide a higher level of customer service
  • Greater customer satisfaction because you understand their unique needs
  • Enhanced and up-to-date communication
  • Accurate client account records

For more on what CRM can do for your business, download the FREE CRM Guide.

Articles

What is CRM?

In Business Buy Guide,CRM Systems Quotes,CRM-Customer Relationship Management on August 18, 2010 by businessbuyguide Tagged:

CRM, or customer relationship management, can be defined simply as a strategy that focuses on how you interact with your customers. But there’s much more to it than that. And to put your CRM strategy into action, you’ll need software tools that track the responses and actions of customers, employees and others involved in your business relationships.

Good CRM also requires the broader process of monitoring and analysing the data that these tracking tools record. By obtaining valuable feedback on transaction behaviour and how customers and employees think and interact, you can develop relationships and increase repeat business through greater customer satisfaction. Thus, not only will CRM save you money through increased staff efficiency, it will also bring you more money through increased business.

Traditionally, only larger enterprises could think about implementing CRM. But nowadays, all businesses are realising the importance of this technology. With the internet revolution changing the options for businesses like yours, CRM has become more accessible. You now have access to Web-based CRM tools and packages that allow you to easily organise your client data.

Another option available to you is hosted CRM solutions. With these, the data resides with your service
provider and is hosted in a well-protected environment. In effect, this does away with the need for IT
infrastructure development costs and allows you to save money by transferring that cost to the provider.
Major names to look out for in the CRM market include Siebel, Salesforce.com, Microsoft, RightNow
Technologies, NetSuite and open-source player SugarCRM. You’ll hear terms like operational CRM,
analytical CRM, collaborative CRM, hosted CRM, on-premises CRM and CRM on demand. This probably
sounds rather overwhelming, which is why we’ve created this buy guide to help you make the right choices.