By Victoria Dyke on Mon 04 August 2014 in CRM
Shockingly 1 in 5 SMEs will admit forgetting to invoice for goods and services – and the majority will put this down to the amount of admin involved when processing an order.
Worse still, 12% of these forgotten orders are worth between £5,000 and £10,000. A further 6% being worth more than £10,000.
Our research has shown that the average error rate on processed orders is 1.3%. If you take a business turning over £15 million and apply this error rate, then you have a potential loss of £195,000 every year.
All fairly hard hitting facts.
If your staff are currently re-keying orders to your accounting system, then here are few things to watch out for:
- Re-keying is tedious work and your staff will make errors. Having your orders confirmed directly into your accounts system from CRM will without a doubt save time and lessen human error.
- Re-keying also costs time and money. Employing someone for administrative tasks is expensive, and I am sure you would rather your staff spent their time on generating new opportunities and taking orders rather than processing them.
- If an error is made, there is also a cost to your customer relationship. Take this example; an order is processed incorrectly and the wrong items are shipped. Not only would you have to cover the costs of another, faster delivery, but your customer will have already felt the pain of this error and taken money out of their ‘emotional bank.’
Employing an ‘enabling’ technology like CRM (rather than another employee) to manage the order taking process is often a lot cheaper, more efficient and more reliable. You could even go as far as getting customers to place their own orders online and have them confirmed directly into your accounts system!
ProspectSoft CRM and eCommerce integrate with Access Dimensions, Exchequer, Pegasus Opera and Sage 50 accounting systems to help use business information more efficiently; saving time and eliminating errors associated with re-keying between systems.
For more information visit our website.