Did you know that 52% of customers would switch to a competitor after a single bad experience?
So no matter how good your products and services are, if you neglect customer management, you will find it difficult to scale your business.
But don’t worry, giving attention to customer experience doesn’t have to be a hefty burden on your budget. You can simply opt for an enterprise resource planning (ERP) system that keeps all of the business processes in check, including customer management. Companies that prioritize customer experience increase their revenue by 80%, so it will be a win-win situation— you will optimize the way you manage your business, and at the same time, drive more revenue by providing stellar customer experience and management.
In this article, we’ll discuss why an ERP system is central to effective customer management.
1. Enhances customer data management
The secret to running a successful business and keeping your customers happy is to stay organized. When you use an ERP system, you get a centralized platform that makes customer data management simpler than ever. From contact information, purchase history, to preferences, you can access all important data in a single database. With all this information available to you, you’ll have a better understanding of what your customers want.
2. Streamlines sales and order management
Your ERP system helps you streamline all kinds of sales processes, be it invoicing, order fulfillment, or payment processing. You also get access to accounting automation which reduces errors, improves efficiency, and speeds up the order-to-cash cycle. As a result, you can offer fast delivery and ensure customer satisfaction.
3. Enables you to offer competitive pricing
Before making a purchase, customers look at different sellers and compare prices. If you want to stay ahead of your competitors, you have to offer competitive pricing. An ERP system comes in handy here, as it helps reduce the cost of manufacturing a product by taking care of inventory management, warehouse management,and supply-chain management. And when you deliver quality at a reasonable price with remarkable customer service, you are sure to get more sales.
4. Promotes seamless collaboration
As a business owner, when you have a fully-functioning team to back you up, you can serve your customers better. This is something you can achieve with the help of an ERP system. By providing every team member access to the same customer data in real time, the ERP system facilitates collaboration across departments. It allows your team members in sales, marketing, and customer service departments to communicate, co-ordinate, identify and resolve problems quickly.
5. Simplifies inventory management
The ERP software gives you access to an inventory management system. It simplifies operations by providing real-life visibility into your inventory, past inventory activity, inventory log, tracking individual lot numbers, managing stock levels, listing updates, getting stock alerts, and more. When you know your inventory details like the back of your hand, you can avoid stock-outs, optimize inventory levels, manage demand and supply, and offer timely delivery to your clients.
6. Makes marketing efforts more effective
With an effective ERP system by your side, you can develop and execute targeted marketing campaigns that actually work, as you already have the vital customer data in your database. When your campaigns are backed by real data and insights, your marketing efforts will inevitably be more effective, resulting in higher conversion rates. And when your customers feel like you truly understand them, you’ll notice a rise in customer loyalty.
Unlock the full potential of your business with Kentro.io
In today’s fast-paced business environment, delivering an exceptional customer experience is what can put you ahead of the rat race. An ERP system provides your team with the tools they need to manage customer relationships effectively. With a centralized system for customer data, your businesses will improve communication, increase productivity, and gain valuable insights into customer behavior. The benefits of implementing an ERP system go beyond improved customer management; it also provides your businesses with the agility to adapt quickly to changing market conditions and scale operations as needed. If you’re on the lookout for a powerful ERP system to iron out the roughness in your business processes, try out Kentro.io today.