The Link Between Streamlined Procedures and Profits
It may sound strange to link enterprise software with customer satisfaction, but the two are actually closely linked. Enterprise software can reduce errors, shorten the time it takes to discover mistakes, and help team members respond quickly to problems. The results can be improved customer satisfaction, an important part of any business.
Happy customers are return customers, and repeat business is the engine that drives profitability. The more you can reduce turnover or churn, the better. Acquisition costs can skyrocket if your churn rate soars. The more you can streamline procedures, the better you can reduce turnover and improve your company’s ROI.
Enterprise software can help by streamlining procedures and improving customer satisfaction.
Faster Response Time with Enterprise Software
Many companies suffer from slow response time. Your sales team will tell you that slow response to customer inquiries or complaints can seriously impact renewals and continued business. To remain competitive, you must meet or exceed customer expectations. That includes exceeding expectations for response time.
Enterprise software such as Sage X3 or Sage 300 can help. Formalized processes, procedures and tasks make it easier for your teams to respond quickly and efficiently to every contact. Secure, real-time connection enables your entire team to access important customer data and respond quickly no matter where they are.
It’s not just slow response times that frustrate customers. Customers are also frustrated by mistakes, especially easily avoided mistakes. When you streamline procedures using enterprise software, you tighten up steps in the process that can lead to costly mistakes.
Although mistakes are inevitable, too many mistakes, or mistakes that go on too long without correction, can lead to high customer turnover rates. Dissatisfied customers also tell other customers, which may increase your company’s overall churn. That raises the cost of customer acquisition and decreases your overall ROI. Reducing mistakes and retaining customers improves ROI.
Where do mistakes in your business occur? They can occur in any department from manufacturing to accounting. A good ERP system, such as Sage X3 or Sage 300, can help you pinpoint those mistakes by providing accurate, timely and actionable data. The more you have accurate data at your fingertips, the more you’ll be empowered to make positive changes that correct and prevent mistakes.
Customers don’t expect your company to be perfect. They do, however, expect you to correct mistakes quickly, apologize, and rectify the situation. With better data management, improved and streamlined procedures and integrated systems, you’re well on your way to preventing or fixing mistakes.
ERP Consulting and Improved ROI
Faster response time improves customer satisfaction, which in turn improves retention. It’s an old saying that it costs more to acquire new customers than it does to serve existing customers. With this in mind, think about how faster response times, accurate data, and better processes can reduce customer turnover.
One way to assess the ROI of reduced turnover or customer churn is to work with your sales, marketing, and finance teams to determine the acquisition costs of new customers and the customer lifetime value. Determining how much each customer is worth, then comparing it to the investment in ERP consulting and ERP systems, may convince you that both can improve your company’s ROI and overall profitability.
Find Out for Yourself: Get the White Paper
A new white paper called Conducting a Cost-Benefit Analysis for ERP provides many examples of how enterprise software may benefit your business. Streamlined procedures and improved customer satisfaction are just some examples of the many positive benefits of ERP consulting, ERP software, and systems such as Sage X3 and Sage 300.
Sage enterprise software from IWI Consulting Group are robust and comprehensive business tools that can improve productivity throughout your business. Knowledge is power, and when you have accurate business knowledge, you can better control costs, inventory and more. This scalable solution grows with your business too, making it extremely cost effective over time.
Learn more about how enterprise software can improve ROI. Get your copy of the white paper today. Download your free copy here: Conducting a Cost-Benefit Analysis for ERP
IWI Consulting Group offers ERP consulting, enterprise software and more to help you improve your business systems. Contact us today for more information: 1-866-916-3851.