Today’s small to medium businesses, (SMEs) face the continuing challenge to win more business, more quickly; to provide quality products and services to their customers; and to keep cash flowing by invoicing and collecting money on time. And to do this, they need visibility of all areas of their business like never before.
What are the key areas of Business?
It’s vital for SMEs to track the cost of marketing activities and accurately measure the return on investment of each campaign by understanding which generates the most valuable leads.
SMEs need to understand their sales cycle and ensure they have the processes in place to maximise all new business opportunities as efficiently as possible. This can be achieved with real-time, accurate sales forecasts and the ability to manage pipelines effectively.
Smooth processes can help ensure a greater customer experience. Research has revealed that people are willing to spend up to 20% more on a service or product if they receive better customer service. Every step in your sales process from confirming, processing and delivering customer orders and credit checks be flaw-less to ensure your customer has a great experience with your company.
An integral part of any business, this department manages accounting transactions including raising invoices and collecting cash both on time and as efficiently as possible.
SMEs need to rely on technology to underpin and manage business processes. Yet the reality is that many organisations are operating below their capacity; they do not have the technology backbone to achieve the efficiency and transparency required to reach business goals.
More often than not SMEs have standalone applications to manage each of their core business processes for example Excel sheets, accounting systems, sales records, Outlook and word documents.
These applications usually don’t ‘talk’ to each other which can lead to departments missing key information and the duplication of information and data.
Now more than ever businesses must anticipate and react instantly to changes in market conditions and customer demand. In the time it takes one business to pull the necessary data and information together, its competitor could have already acted on its own intelligence.
How do businesses stay ahead of the competition? The answer is to consolidate all business information on to one technology platform supporting the entire business using a CRM System such as Maximizer. This will allow everyone in your business to have visibility of all the information that is relevant to do their job effectively. With clean data, clear customer records and transparency across the departments you will be able to not only market more effectively but also record, measure and forecast your sales leads more effectively.
Like to find out more about CRM? Contact Niall today on firstname.lastname@example.org or call 028 9073 5630.