The Disadvantages of Not Using a CRM Software for Your Business

The Disadvantages of Not Using a CRM Software for Your Business

Thought Leadership

The Disadvantages of Not Using a
CRM Software for Your Business

Imagine running the business of your dreams, but you can’t seem to get any sales or retain customers. Before you deem your business a failure, consider using CRM software.

Then, you can manage multiple things in one place to help promote your business and increase sales. And you don’t have to juggle different tools to get the job done or risk losing out on sales because of a lack of organization.

Read on to learn what you’ll have to deal with if you don’t use a CRM.

Managing Multiple Tools

When you don’t use CRM software, you have to manage multiple tools that do the same thing as a CRM. Good CRM solutions can help with everything from marketing and sales to customer service.

If you don’t have a CRM system you would need something to market your business, a sales tool, and a customer service system. All of those can take time and money to set up, and they may not even be as efficient as a CRM.

You may waste a lot of time trying to manage and connect the various tools to run your business. When that happens, you may lose out on sales and customers, so your overall business could suffer.

Less Data Access

Data is essential to making decisions for how to move your business forward. If you don’t use CRM software, you may not have as much access to customer data or management data.

When that happens, you may need to spend more time collecting data on the members of your customer base. However, using a CRM can make collecting and accessing data much easier.

Whether you want to make decisions about finances or product releases, having access to data can make a huge difference. You can track data without a CRM, but it will be much more difficult, especially as your business grows.

Manual Data Entry

Even if you can get some data, you may need to enter it manually into something like a spreadsheet. This will require you to spend more time on admin tasks and less time on actually helping customers.

You’ll need to decide how often you want to work on data entry and what data points you want to track. Then, you or someone on your team will have to input that data on schedule so that you can track it.

When you have a small business, you may be able to get away with manual business processes. But eventually, you won’t have time to track all of your data and will need CRM software.

Bad Data

Another risk of manual data entry is bad data, which refers to inaccurate or misleading data. You could do everything possible to make sure the data is correct, but you may still have some inaccurate entries.

If you don’t recognise the bad data, you may use it to make decisions. Depending on how inaccurate it is, you might make decisions that won’t help you reach your business goals.

You might implement business processes that will hurt your sales and growth. Fortunately, an accessible CRM can help you reduce the risk of bad data and its effects.

Missed Sales Opportunities

Not having a CRM can also affect your sales and revenue. You can easily miss out on chances to cross-sell and upsell customers to get them to purchase other offers.

A CRM can help you track what customers have purchased. Then, you can promote similar products or services that each customer can buy to help them even more.

While you may be able to offer upsells manually, it can be hard to track what to offer to each person. Meanwhile, a CRM can help you keep track of sales so that you can get people to buy more.

Weak Customer Relationships

Along with other business relationships, customer relationships are vital to the success of your business. However, building and maintaining those relationships can be difficult without a CRM.

You won’t have information on how the particular customer found you or what preferences they have. Not knowing that information may keep you from being able to sell to your customers.

For example, if someone found you through a referral, you would be able to use that when selling to them. But you’d have to know that’s how someone learned about you and your business.

Decreased Productivity

Not having a CRM may also keep you and your team from being the most productive you could be. The tasks you assign to your marketing, sales, and customer service teams may require the use of different tools.

Of course, employees will have to use different programs to do their jobs. However, it can take time to log into everything, and people can waste small bits of time switching between the programs you use.

By switching to CRM software, you can make sure everyone knows how to complete their tasks. Then, you can minimise confusion and maximise productivity.

Hard to Control

Even if you do have a good system to track data and work on customer relationship management, it can be hard to control. You may want certain employees to access only a few pieces of that system.

A CRM lets you control access so that people can get to only what they need. But if you use a spreadsheet or another program, you can only grant access to the entire thing or none of it.

That can make it easy for employees to access more data than they need for their jobs. Then, you may not have as much control over the use or accuracy of your data.

Will You Use CRM Software?

CRM software can make a huge difference in your productivity, sales, and other aspects of your business. Whether you have a massive corporation or a small team, you should start using CRM software.

Then, you’ll be able to manage your time better and focus on building good customer relationships to help your company grow. Soon enough, the CRM will be easy to use, so you don’t need to stress about the tech.

Are you ready to start using a CRM? Check out our Power CRM and get started today.

 

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The Power of User Adoption

The Power of User Adoption

Thought Leadership

The power of User Adoption

– A quick Google search defines inertia as “the tendency to do nothing or to remain unchanged,” while Wikipedia defines it as “the resistance of any physical object to a change in velocity.” This includes changes in the speed or direction of motion.  One element of this quality is the tendency of things to continue travelling in a straight path at a constant speed in the absence of external influences.” It should come as no surprise, therefore, that individuals, by definition, oppose change. It’s perfectly normal and natural. Expect some resistance when implementing a new system in an organization; it’s natural, but for goodness sake do something about it. Apply the force that causes them to shift direction.

 

You must have a User Adoption Strategy in place.

 

Whether you believe in creation theory, are a big-bang fan, or anything else, there is one unavoidable truth:

Even the most ideal system is vulnerable to failure due to an internal element that far too many businesses overlook and disregard in their planning.

Who is the perpetrator? If you are not proactive, the same people for whom you made this paradise may corrupt it and turn it into a wasteland.

Your most cherished users are your greatest potential danger.

Simply put, we must reduce this risk…

History has shown that implementation efforts will fail in the absence of a strong user adoption strategy.

 

7 Reasons Why Technology Projects Fail…

I just bought a Haval Jolion Super Luxury.

To replace my 2015 Volvo XC60 T6 AWD R-Design Polestar, I would have loved a Volvo XC40 or perhaps the considerably smaller Volvo S40. Any vehicle would have sufficed as long as it was a Volvo, but my budget protested loudly.  I didn’t know anything about the Haval brand. So I conducted my research and found some extremely intriguing things about these vehicles, to the point where I was so pleased that I tracked down a car 500km away and had it delivered to me within 5 days, despite the 3-month waiting list for brand new vehicles. Because I was loyal to the brand I have owned before, I almost missed out on what I now consider to be the finest vehicle I have ever owned.

The point is that no matter how elegant and technologically advanced a car is, if no one embraces and utilizes it as soon as it leaves the factory, it may as well be a bicycle. This is a pretty typical end-user problem. Why should I use Excel when I already have this handy calculator? I don’t require SQL because I keep all of my client information in Excel. I don’t need the Power Platform because my SQL database has all of the information I want. People are naturally resistant to change from what they have gotten accustomed to and feel at ease with.

Alan Lee-Bourke is a Principal Consultant in Microsoft’s Adoption and Change Management Global Practice, a Prosci Certified Advanced Instructor, a Prosci Experienced Practitioner, and the Director of the Scotland Association of Change Management Professionals.

In a recent article titled “7 REAL REASONS WHY TECH PROJECTS FAIL,” he provides the following frightening statistics:

  • 25% of IT projects fail outright
  • 20% to 50% demonstrate no ROI
  • and up to 50% require extensive revision when completed

 

The 7 reasons are…

 1. Poorly defined projects – this definition should cover more than just WHAT we are doing, but also:
– Why are we doing this?
– Why are we doing it right now?
– What will happen if we don’t?

2. Lack of leadership – An implementation project should never be confined to the IT department. Implementation is a business project which needs a strong key sponsor, who is active and visible – and one who will build a sponsor coalition and communicate effectively.

3. Lack of Accountability – Businesses simply must take responsibility for managing the change process. In our world that means getting users through the ADKAR process for them to make the project successful.

4. Ineffective or poor communication — Effective communication is crucial in change management.

5. User Testing & Feedback – We must focus on the end-user’s DESIRE to step out of their comfort zone and use the system.

6. When we evaluate ROI – When we go live, we will begin to see genuine business benefits from a people-dependent project.

7. Solving the incorrect problem — What are the issues, based on what your end-users are telling you? To put it another way, why would they want to switch to the new system?

 

At The CRM Team, we believe that to gain and maintain credibility, User Adoption Strategies must be actively led from the top down. The higher up, the better. The key sponsor should preferably be a member of the executive team – the CEO, MD, CIO, or CTO – and their message should be: “I am completely in support of this initiative.” The primary sponsor should then be supported by a Sponsor Coalition comprised of managers and supervisors who are in charge of influencing user behaviour in the departments affected by this project.

It is vital that the Key Sponsor and the Sponsor Coalition drive this change and emphasize the importance and urgency of the change. Their personal engagement is critical to the project’s success.

Reward and Recognition

A strong Recognition and Reward system would motivate and inspire users and fuel the User Adoption Drive.

The Recognition and Reward strategy can be built around key metrics such as

In terms of sales:

  • Which Business Unit is working the hardest to increase sales?

In terms of Customer Service:

  • The number of cases that have been resolved.

Just to name a few….

These are small steps to ensuring optimal user adoption. Each step building on the momentum and energy generated by the previous one.

Conclusion

Friedrich Nietzsche stated many things, most of which I disagree with, but one of them remained with me: “He who would learn to fly one day must first learn to stand and walk and run and climb and dance; one cannot fly into flying.”

On the perilous journey toward User Adoption we must be careful to take each of these little steps to ensure that our system implementation does not crash and burn, but that it will fly and take your organization to new heights.

When you succeed, we succeed!

 

Mark James – Head of Training & User Adoption

Mark has been a Microsoft Certified Trainer for many years and has been training Dynamics since CRM version 4.0.

He specialises in Dynamics 365 end-user training and has trained across the UK, Africa, and the Middle East. Mark is proficient in Microsoft Dynamics 365: Sales, Service, Deployment, and Customization & Configuration.

 

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What Are Some Trends in Improving Financial Services?

What Are Some Trends in Improving Financial Services?

Digital Transformation

What Are Some Trends in Improving
Financial Services?

Did you know The Harvard Business Review conducted a study that showed 50 per cent of consumers would trust AI to provide financial services?

The business and finances world is in constant evolution and you want to be sure you can keep up. Financial services institutions have to be on the lookout for the latest trends so that they can offer the kind of services their clients want.

If you are afraid of falling behind, there are some trends and emerging technologies in the financial service industry you need to watch. Read on to learn what they are and how they can benefit your services.

 

Hyper-Personalisation

The newest generations do not want to be treated like a number or even as a segment of the population. They want personalised financial services.

Hyper-personalisation uses big data to find ways of making the financial experience of a client unique. It works with what the particular client needs at that time and does not use a one-size-fits-all process.

Hyper-personalisation can be as simple as allowing clients to set up automatic mobile payments. It can also be as complex as suggesting investments the individual would be interested in making.

With this kind of personalisation, you will be pleasing the client. You will also be building up long-lasting relationships that will ensure the person relies on your services and your financial institution.

 

Digital Engagement

Digitisation is the rage in the financial industry. Technology comes in to provide gaps in the industry. This is why banks are cutting down on spending in physical branches and instead investing in self-service digital options.

The customer base depends on mobile and online banking. Smartphones are making it easier than ever to offer targeted services to individuals.

Customer service has also taken a leap into the digital world. Clients expect to be able to chat with someone online or resolve issues via apps. In 2020, the need for contactless transactions and digital options increased and that is only going to continue.

 

Artificial Intelligence

Data protection laws have increased with the trend of financial services heading toward digitalised options. Regulatory compliance is a concern that financial industries were not sure how to tackle.

AI is the solution. Artificial intelligence for anti-fraud services, as well as data analysis and reporting increase security. AI completing repetitive tasks can increase operational efficiency, as well. Even robo-advisors have become more popular in banking and financial services.

Not only does AI offer a great customer experience, but it also frees up the institution’s workforce to deal with more complex activities that AI cannot perform. Robotic process automation is the future.

 

Collaborating with Fintechs

Banks are beginning to collaborate with FinTechs to improve and grow their digital experience. FinTech companies were seen as the competition at first. Since they could offer the services that the slower-evolving banks could not, they are now part of the evolution of the banking and financial services world.

FinTech companies provide loan servicing, marketing, administration, and other services. This lets the bank offer banking services and products that work with the latest technologies. FinTechs provide the chance of constant innovation.

 

Bank Loyalty

A challenge that banks face is ensuring they can offer whole bank loyalty even for clients who only have credit cards with them. The client-bank relationship has to extend beyond credit cards. The bank has to provide all  the essential services that a customer needs.

You want to be able to offer excellent services throughout the entire relationship between a customer and you.

 

Biometrics for Financial Services

This is an excellent option that providers digital transformation and operation efficiencies. With biometric access controls like fingerprints and facial recognition, it can be simple for customers to make payments and perform other services solely through mobile options.

 

Cross-Platform Services

Financial transactions many times cross over to retail, utilities, and even healthcare services. It can be frustrating and slow for clients to have to switch back and forth between apps and other websites. Providing cross-platform services is essential to solve this.

You can do this with embedded payment services. Turn to mobile pay or hybrid wallets to allow your clients easy transactions without having to switch back and forth between sites or apps. The financial services industry will greatly benefit from cross-platform services.

 

Chatbots

Chatbots can save, on average, 4 minutes on every interaction. This makes them a huge asset to any financial services provider.

Chatbots provide the 24/7 interaction that clients expect. Financial markets can also benefit from the quick resolutions to problems that they offer. They maximize the customer experience and can allow for customer feedback, as well.

 

Blockchain

Blockchain can help ensure the safety of customers’ payment transactions. It can also help investment banks with challenges they may face.

Blockchains also ensure data security.

 

Moving Trading Off the Trading Floor

2020 proved that trading does not have to happen on the trading floor. This has opened up opportunities and options. There is now a need to separate financial activities from physical locations.

Zero trust networks can allow for these transactions and are not tied to any location. They still remain secure.

 

Updating Data Systems

When 2020’s shutdown occurred, there were backlogs of loan document processing. It was taking too long to get the loans reviewed and approved.

The data system was too slow to respond to customer needs. It could not provide the real-time information needed. Stronger, faster, and secure technology systems for data are vital for financial institutions.

 

Improve Your Services

You want customers to be satisfied with your business. Financial services can always evolve and you want to be certain you are at the cutting edge of improvements.

Contact us today to revolutionise your business!

 

 

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What are the benefits of Microsoft Dynamics 365?

What are the benefits of Microsoft Dynamics 365?

Dynamics and Power Platform

What are the benefits of
Microsoft Dynamics 365?

Nucleus Research found 64 per cent of companies using customer relationship management (CRM) consider it impactful or very impactful on their businesses. Sales teams displayed a 17 percent job satisfaction increase when it was added to their tool arsenals.

CRM technology is vital for your company, but how can you implement it in an efficient and user-friendly manner?

One of the Microsoft products that are making a difference is Microsoft Dynamics 365.

Read on to see how it can impact your company.

What Is Microsoft Dynamics 365?

Microsoft Dynamics 365 makes it easier for mid-market companies to engage with customers, team members, and prospects. It is the only cloud-based option that offers what a company needs in terms of CRM and enterprise resource planning (ERP).

It unifies all of the CRM apps you utilize, making the sales process much simpler and more streamlined. It gives employees the tools they require to improve customer relationships, customer experience, increase productivity and sales.

Since it uses both CRM and ERP technology, it makes communicating internally, as well as with customers, much easier.

Microsoft Dynamics 365 brings digital intelligence to all business processes and can be the digital transformation you want for your company.

Benefits of Microsoft Dynamics 365

If you are considering implementing Microsoft Dynamics 365, it’s important to know what benefits to expect. Let’s dive deeper into what it offers.

 

Easy to Use

Not only is it simple to implement, but you can also use it in the cloud or in a hybrid cloud setting. Microsoft Dynamics 365 has an intuitive user interface that is incredibly clear.

Users can create personalized workspaces that are activity-based. This enables them to manage assets and processes. It is similar enough to Office 365 where users will quickly feel like they know how to use the program. Therefore, reducing the stress of new software implementation.

If your company requires employees to have their own devices, this software is ideal. Employees will be able to access all of their information through its cloud-based functions.

This software comes in many languages and has country-specific functions for more than 50 countries.

 

Integrates with Microsoft Products

Dynamics 365 fully integrates with Office 365, allowing the simple use of Outlook, Power Bi, and SharePoint.

It is quick and efficient to move between apps when you use Microsoft Dynamics 365. You do not have to worry about your employees taking more time to input customer data into other platforms. You also do not have to provide added personnel re-training.

This software will give you the complete picture of your business that you can analyze and improve on.

 

Better Customer Service Experience

Microsoft Dynamics 365 collects a vast amount of data from clients. It can analyze how they interact with certain brands, what kind of websites they visit, and what communities they belong to.

You can expect to receive information on brand loyalty and buying patterns when you use the BI tool. This offers invaluable help for customer service representatives.

With all of this data in their hands, customer service representatives will be able to have personalized interactions with customers. This is beneficial to the client as well as to the business.

 

Built-In Analytics

Microsoft Dynamics 365 has built-in analytic tools and real-time insights. Azure Machine Learning, Cortana Intelligence, and Power BI are all embedded in the software.

Cortana and Azure and their algorithms take descriptive statistics and can use them for predictions on the opportunities your business should take.

With these tools, you can get predictive insights and see hidden trends. The business application of these pieces of data are invaluable.

When you make a decision, you will do it based on accurate data reports. Not only is this better for your business, but it also offers much more responsive customer service.

 

Data Privacy

Data privacy is a growing concern, but it is one less thing you will have to worry about with Microsoft Dynamics 365. Although it is a cloud-based solution, Microsoft Azure offers top-level cybersecurity.

It has disaster recovery and technical support available for twenty-four hours. With physical data centers, service hosting platforms, and network connectivity, you can get the help you need.

 

Save Money

With software that allows you to reduce the sales cycle, you can expect fewer costs. It offers the real-time insights employees need to answer questions and make decisions during the sales process.

Its advanced automation functions also help identify redundancies in resources and processes. This goes a long way to save on costs.

Since Microsoft Dynamics 365 uses the cloud for its functions, you also save money on having to maintain your own servers and hardware.

 

Customization

Dynamics 365 has many built-in workflow tools and modules. They can help you automate functions and tasks across marketing, customer service, field service, sales, and project service.

If you find that the built-in tools are not offering exactly the functions that you need, you can customize them. You can use the customization tools in the program to add new fields and new objects.

You can also expect flexibility in the program’s architecture. There are pricing tiers which allow you to customize the program to your budget and team size.

 

Scalability

Like most other cloud-based Microsoft products, you can change your subscriptions on a monthly basis. When you want to scale up or down, depending on your budget, project, or team size, you can do so with ease. Scalability provides the business intelligence that you need from this type of software.

Improve Your Business

To reduce costs, improve efficiency, and offer the customer service your clients deserve, you want to implement Microsoft Dynamics 365.

Book a demo today to see how it can enhance your business.

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4 Tips to Raise Long-Term Customer Engagement

4 Tips to Raise Long-Term Customer Engagement

Thought Leadership

4 Tips to Raise Long-Term Customer Engagement

Have you been wondering lately how to improve customer engagement? 

It’s no surprise that most of us wish we could improve customer engagement within our companies. But how do we do it? Is there a secret ingredient to figuring out how to improve customer relationships with our business? 

There’s not! But there are ways to improve customer engagement based on changing a few things with our businesses. 

Want to know how? Keep reading to learn our top tips for the best ways to improve customer engagement.

Track Data Analytics 

The only way to understand how our company is doing is to track the analytics of our social media platforms and our website. 

By looking at data analytics, we can better understand the type of behaviors our customers exhibit, their preferences, recurring trends, and what types of advertisements work. 

From there, we can decide what type of ads to use more often and which to do away with. Customer assistance can also change based on how customer engagement is going and what we see based on the analytics.  

Almost 60% of businesses worldwide invest in data analytics tools to track how they are doing and how to improve customer engagement on a consistent basis. 

Data analytics can be used to track how past advertisements and promotions went and what can be repeated as a means of engaging customers. Analytics can also help track email opens, lead generations, website clicks, social media engagement, and so much more. 

Tracking all parts of customer engagement technology and analytics is crucial to understanding what is working. This is also a way to understand what is not working to save money long-term. 

Always Ask for Feedback 

If we are searching to be the best company we can be when it comes to improving customer engagement, what better way to do than ask for feedback from the customers themselves? 

When we ask for feedback, we’re hearing directly from the sources themselves about what needs to be improved, what changes they wish to see, and anything else they want us to know. 

So how can we get the feedback we want? There are a few ways: 

  • Email out surveys to subscriber lists 
  • Attach surveys to invoices or receipts 
  • Publish surveys on the website for any digital browser to see when passing by the site 

After customer support calls, a survey could be sent out to the customer to learn about their experience with the company. 

There are other ways to ask for feedback as well, these are just a few. 

Based on all feedback we receive, we need to make the changes in order to satisfy our customers and improve the relationships we have with them. 

Learn From Competition 

More likely than not, every business has a competitor. Our is no different. 

However, customers choose to work with businesses based on the support they feel and what they feel they align with more. In reality, there may not be much else that is different from two competing companies, or three, or four. 

To make sure we stay on top of our customer experience, paying close attention to competition can drastically improve customer engagement. 

How? Seeing what others do can help us understand what we could be doing better. It could also inspire us or motivate us to do something differently that customers may like better or resonate with more. 

Use the Right Technology to Improve Customer Engagement 

In our digital world, it can be hard to keep up with the ever-changing technology that presents itself. And that’s okay. But what we do need to ensure we do is keep up with some of the technology that will help improve customer experiences with the company. 

As mentioned before, one of these pieces of technology would be data analytics tools. Another would be using software that can automate some of the processes the company uses. 

For instance, email can be set on automation so that other things can be done. By automating emails, the customer experience will improve because they are already ready to be sent and will automatically send when an action is completed by a customer. 

If someone comes across the company’s website, we don’t want them to feel lost or have any questions go unanswered. Using virtual agents is one way to ensure that we interact with customers as much as possible. When customers know they can head to a website and receive the answers they are looking for right away, the overall customer experience improves, and they are more likely to come back again. 

The software used by each company may depend on the type of solutions that are needed. A retail company is going to need a different experience than a finance company for their customers. By tailoring it to the “type” of customer that we have, it is more likely that our customers have a better customer experience. 

Use These Tips to Improve the Customer Experience

 

One of the most important areas of business is satisfying customers. Without them, a business cannot thrive and grow like we hope it will. 

So how do we ensure our customer experience is the best it can be? By using these tips for customer engagement, our businesses can improve customer relationships and the customer experience exponentially. 

Ready to try this out? Check out our different software solutions to see which one fits best! You can also contact us for any questions! 

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Digital Transformation and Customer Experience: A Deep Dive

Digital Transformation and Customer Experience: A Deep Dive

Digital Transformation

Digital Transformation and Customer Experience: A Deep Dive 

Consumer habits have changed as a result of new, more accessible digital technologies. 

Businesses must now focus on providing more personalized services. These personalized services communicate with and serve their customers better. Businesses must determine how to digitize in a way that meets the demanding and ever-changing needs of the customer. 

Your company might undergo a digital transformation for a variety of reasons. For certain, the biggest factor is survival.  

Do you want to know more about digital transformation and what this means for customer and personal experiences? Read on to learn more. 

What Is Digital Transformation?

Because digital transformation looks different for every organization, there is no single definition. With so many publications and definitions of digital transformation available, it’s easy to see why the topic is confusing.  

Digital transformation is, in its most basic sense, the use of digital technologies to improve and optimize the customer experience. 

Businesses that try to understand their consumers in the digital age are transforming. This means investing in new technologies and business models that prioritize the customer experience. 

 

Because digital transformation looks different for every organization, there is no single definition. With so many publications and definitions of digital transformation available, it’s easy to see why the topic is confusing.  

Digital transformation is, in its most basic sense, the use of digital technologies to improve and optimize the customer experience. 

Businesses that try to understand their consumers in the digital age are transforming. This means investing in new technologies and business models that prioritize the customer experience. 

Why is Digital Transformation Important?

79% of corporate strategists claim to be digitizing their businesses to generate new income. To date, the transformation has been slow, with less than half of surveyed companies claiming to be fully digital. 

We live in a digital, global, and hyper-connected world marked by social and technological change. There is a constant emergence of: 

  • New-market players 
  • Off-site mobility 
  • Continuous connectivity 

These exert significant influence. Today, digital transformation is not an option. It is necessary to leave one’s comfort zone, reinvent oneself, and compete in a world dominated by technological advances. 

Studies have shown that companies that have embraced digital transformation are 26% more profitable than their competitors! 

Companies that digitally transform create engaged customers, who are: 

  • Six times more likely to try a new brand goods or service 
  • Four times more likely to recommend your brand to friends and family 
  • More inclined to buy from the favourite brand even if the competition offers superior goods or pricing 
  • Highly engaged customers also buy more frequently, spend more per purchase, and have a 3x yearly value (compared to the average customer) 

One thing is certain – the customer is in the driver’s seat. In order to provide a better customer experience, you must first understand who this new digital customer is. 

Getting Started With Digital Transformation 

Before you start improving the customer journey, there are a few things you need to reflect on. A digital-first approach requires you to rethink how your business interacts with customers and users. 

The 3 focus areas should be: 

  • Sales 
  • Marketing 
  • Service 

You should be able to contact your customers instead of waiting for them to call you. Your clients’ demand (expect) highly focused communications, which can only be delivered through a data-driven approach.  

You no longer have to wait for a phone call or fax. Digital-first isn’t about the reaction. It’s about being proactive in helping your clients, who use a variety of channels. Customer service today includes social media, review sites, forums, and communities. 

Define Your Transformation Strategy 

Changing technologies and breakthroughs have accelerated business world change. Every year, new technologies even disrupt the most established businesses. 

Companies need a long-term strategy to adapt, compete, and thrive in this new digital landscape. You need a strategy that addresses both technology adoption and digital disruption. Understanding your basic systems and processes is crucial to identifying opportunities before embracing digital transformation. 

Rethink the Customer Journey 

With customers gaining control over how businesses deliver experiences, it’s time to create new ones that meet their needs. According to a poll, customer experiences are the top priority for 40% of respondents. 

Because every interaction with a customer influences their overall perception of a brand, focusing on connections with customers is key. 

Make the User’s Feel Personal Experiences 

Consumers today expect businesses to know their specific preferences and buying history. According to Accenture, 75% of customers choose companies that: 

  • Address them using their name 
  • Know their purchasing history 
  • Can recommend products based on past purchases 

The good news is that customers are comfortable for businesses to use their data to improve their experience. 

But you need to invest in CRM. Whatever industry you may be in, there is no better time to take advantage of this opportunity. 

Without CRM, you can’t treat customers like people. It’s impossible to deliver a unique experience without storing their interactions with your firm. 

A CRM system allows you to evaluate and examine client data based on accessible customer data. For example, general queries, product quotations, and support inquiries might help you understand their needs. Because users’ experiences are more tailored, this data can be leveraged to develop highly targeted messaging. 

The Experience Must Be The Same Regardless of the Channel 

Customers can now get what they want when they want, and how they want it thanks to advances in technology. 

More than half of all consumers now expect a response from customer service within one hour. They also expect the same response times on weekends as they do during the week. Because of this need for instant gratification, organizations must be available and on-demand 24 hours a day, seven days a week. 

Everything is now happening in real-time, so businesses that can provide their customers with immediacy, personalization, and accessibility.  

It’s also important to remember that consumers today aren’t tied to a single channel. They purchase in-store, online, provide feedback via mobile apps, and ask inquiries on social media.  

Technology and Systems Have to Be Flexible and Agile 

Agile innovation methods have completely transformed information technology. Over the last 25 to 30 years, they have significantly increased software development success rates, as well as improved quality and speed to market, and the motivation and productivity of IT teams. 

Traditional organisations were designed for “stability in a well-known environment.” “Technologically Agile” organisations, on the other hand, are constantly evolving and have the flexibility to adapt quickly to a changing environment. This adaptability is especially important in a world where digital technologies are altering the fundamentals of how businesses interact with their customers. 

Don’t Wait – Start Your Digital Transformation Journey 

The modern consumer expects instant gratification – I want service and I want it now!  

These new digital technologies have shifted customer expectations, resulting in a new breed of modern buyers. Consumers today are always connected, app-native, and aware of what technology can do for them. 

Customers frequently rate organizations based on their digital customer experience first. They say good news travels fast and bad news travels even faster and so does the personal experiences of your customers. People talk to each other all the time, continuously sharing experiences and opinions – customer service is not immune to this!  

To make use of the correct approach and leverage new digital technologies,  Find out how right here. 

 

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How Microsoft Cloud Optimises the Customer and Employee Experience

How Microsoft Cloud Optimises the Customer and Employee Experience

Digital Transformation

How Microsoft Cloud Optimises the Customer and Employee Experience

The concept of a digitally centralized cloud started in the 1960s. However, usability and access to cloud services have grown drastically in recent years.

The Microsoft cloud allows us to store data online, rather than on our hard drives. Whether it be for professional or personal use, we can access data from across the world in a matter of seconds. 

Microsoft Cloud services can help financial businesses by providing data centralization and security. These Cloud services also positively impact the customer and employee experience. Keep reading to learn how Microsoft Cloud optimizes the customer and employee experience. 

What Is Microsoft Cloud?

Microsoft Cloud services run on the internet, rather than a computer’s hard drive. Integrating products and services onto a digital cloud platform helps any financial business. The cloud streamlines the transfer of technology and gives users easy access. 

Microsoft Azure is Microsoft’s cloud platform. This cloud computing service offers over 200 products and cloud services. These services range from computing to storage tools.

5 Keys to Cloud Migration in the Financial Services Industry

As technology has continued to evolve, the financial services industry must keep up. Shareholders, employees, and customers’ needs are changing and cloud migration services help these institutions ensure that they can meet growing expectations and streamline financial services operations. 

 

 

1. Differentiated Experiences

Cloud technologies ensure that financial institutions can customize their workspace. Differentiated customer experiences enable a user-friendly experience for all customers. 

Workflow Automation

Introducing workflow automation is a methodology of task management. Workflow automation in the cloud should increase a financial institution’s productivity. Financial services institutions can adapt customizable workflows to a bank’s exact needs. 

Scalability 

The cloud allows businesses to be scaled quickly. You can adjust the size of your operation in minutes. The cloud allows businesses to have low-cost sustainable growth.

It is as simple as acquiring a larger “office space” in the digital sphere. A quick storage update can help get you online even with a major business expansion. 

 

2. Optimized Customer and Employee Experience

Digital transformation is happening in real-time. The cloud is a constantly evolving technology that works to develop solutions.

When you empower employees and customers you are able to boost satisfaction rates. This can translate to profitability and efficiency.

Centralized User Profiles

Unified customer profiles allow administrators to deliver top-notch service effortlessly. Microsoft Cloud services allow administrators to sort and manage user profiles. This grouping system can offer more control to account managers.

Streamlined Customer Onboarding

During customer onboarding, a profile can be developed for new users. Their profile keeps track of relevant reports and forms.

Scheduling and storing reports can help you build a robust customer profile that allows you to build this without strenuous effort on the customer’s side. 

 

3. Achieve Regulatory Compliance

Technology has been integrated into retail banking and financial services. Achieving regulatory compliance helps you to keep your business’ resources and reputation intact. Customers do not want to trust financial institutions that neglect regulations. 

Enforce Regulatory Requirements 

In order to meet standards, institutions must constantly update their services. Institutions are bogged down by lawsuits if they fail to meet regulatory requirements. 

Regulatory requirements are rules imposed by the government. Regulations often mitigate the liberties of financial institutions.

These rules limit advancements by making institutions jump through hoops to expand. Institutions must reach regulatory compliance while updating their systems. 

 

4. Increase Security and Compliances 

Cloud services can be viewed as an investment in risk management. Microsoft Cloud can help keep your finances protected. These services keep you secure by boosting security and launching investigation features.

Combat Criminal Behavior 

When you start implementing risk management protocols you will undergo an audit. This audit helps to assess the weak points of your current security measures. Once these risks are assessed you can strengthen your defense systems. 

The Cloud is able to combat criminal activity. It can be proactively building firewalls and implementing high-level security measures. Microsoft Cloud services can also aid in a breach by identifying financial crimes. 

 

5. Centralized Access to Financial Records

Banking is made simple by cloud-based finances. These solutions allow employees and customers to remotely have access to financial information. These services make record access convenient.

Easy Access to Financial Summaries

Managing your personal finances used to be a very challenging feat. By stocking up on all of your receipts you were able to track your expenses. This process has gone entirely digital. 

When using the cloud for financial services, customers have access to financial summaries. This allows them to quickly review their expenses.

Regular review of financial accounts can help you critically analyze your spending. This accessibility is valued by customers.

As an employee, fast-tracking customer requests can ensure a positive interaction. The cloud ensures that employees can quickly pull relevant records. This rapid response to pull data can streamline the customer service process.

Integrate Microsoft Cloud Services Today

Crafting a unique user experience for all customers is important for financial institutions. Customers need assurance that their financial records are secure and well managed.

Focusing on the customer experience allows owners to adapt to their shareholder’s needs. When owners prioritize the user experience they can develop positive reforms.  

Microsoft Cloud for financial services helps to make financial management easier. Partner with us to implement software that improves your employee and customer experience.

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Inside Microsoft Dynamics 365: The Benefits for Manufacturers

Inside Microsoft Dynamics 365: The Benefits for Manufacturers

Dynamics and Power Platform

Inside Microsoft Dynamics 365: The Benefits for Manufacturers

Do you want your manufacturing organization to take advantage of predictive analytics?

If you answered yes, then get ready to learn about how Microsoft Dynamics 365 can help manufacturers. This article will share the latest in manufacturing processes. We’ll cover the benefits from supply chain management to customer service.

Microsoft Dynamics 365 Steps Up

Microsoft Dynamics 365 is an integrated, data-driven software solution. It helps manufacturers shorten and optimize their sales cycle. In addition, the tools empower a personalized customer service experience and enhance customer loyalty.

This tool strengthens customer relationships with the manufacturer. It also centralizes, optimizes, and streamlines the customer’s experience data. Some of the benefits include:

  • Identify critical customers for revenue opportunities
  • Control leads campaign from lead generation to capitalization
  • Provide personalized engagement based on customer’s journey
  • Run simultaneous campaigns using web content, email, and events

Dynamics 365 transforms the customer’s journey into a great buying experience. This documented experience empowers sales, marketing, customer service, and customer insights.

Sales

Microsoft Dynamics 365 connects salespeople to customers through their preferred selling and communication channel. The software’s AI can shorten the sales cycle with suggested best action steps. These steps focus on the highest-priority activity that has the most significant potential to close.

The system also predicts revenue fluctuations. When addressing the funnel, the system highlights the customers needing attention from the salesperson.

Marketing

The software supports the marketing team in finding and nurturing the right leads. The unit can focus on the latest trends and create a connected customer experience. The experience is a personalised journey that strengthens relationships and builds loyalty.

For a holistic experience, marketing, sales, commerce, and services impact the customer journey. Marketing can use AI-driven content recommendations to enhance the experience. Also, the AI provides relevant actions for customer segmentation, channels, and analytics.

Microsoft Dynamics 365 connects with other tools most marketing departments use. The built-in features protect the customer data and provide the information needed for personalisation. The best part is its ability to customise the experience journey.

The marketing team will also enjoy the predictive, design, and delivery aspects of the tool.

Customer Service

Customer service employees will appreciate the connected experience. Before a customer connects to a customer service employee, they’ll have the choice of working with an automated self-service module. This module uses virtual agents and a portal to a deep knowledge base.

For those customers wanting to speak with a live person, the AI productivity tools take the guesswork out of case resolution. The system provides the correct information at the right time. Also, AI insights and analytics improve the customer and agent experience.

Field Services

Microsoft Dynamics 365 provides everything needed to optimise resources that help improve the technicians’ efficiencies. The result includes reduced operational costs. Most of these savings come from the team being more proactive.

The system provides predictive services that can prevent many reactive situations from happening.

Finance

Operational expenses decrease by using the system along with the simplification of financial complexities. These successful results come from AI-driven insights.

The fine-tuning of the financial controls generate reports and embedded analytics to keep the team on task. The automated processes also reduce the time needed for financial reporting.

Microsoft Dynamics 365 can also watch financial performance and budgets. The automated tasks boost productivity to maximise financial performance. Regulatory reporting and financial planning also take advantage of the AI process.

The system uses rule-based charts, a no-code configuration process, and automated tasks to boost productivity. In addition, this solution connects to electronic invoicing and global payments.

Operations

Supply chain management uses predictive operations. As a result, the manufacturing process gets simplified and automated. Also, the system extends the life of the assets.

Managing the process in the cloud helps ensure business continuity.

Commerce

Microsoft Dynamics 365 provides the ability for customers to connect when, how, and where they want on any device. The system creates a consistent engagement across both online and offline channels. You also get a comprehensive view of your customers and partners.

The process uses a unified commerce platform to foster relationships. The solution scales to meet your needs both on the vendor and consumer sales side. The user-friendly applications create a friction-free retail experience.

The infusion of AI plays a role in your ability to scale commerce solutions. This ability drives a strong ROI and supports the optimisation of business practices.

HR

Self-service HR tools provide empowerment for employees to get the information they need when they need it. The data can include:

  • Benefits
  • Compensation
  • Leave and absence
  • Certifications
  • Training
  • Compliance programmes

This process frees up HR professionals to handle complex and urgent issues.

The HR solution is scalable, so it grows as your company grows. The system also connects with partnering systems to centralise the information.

The result is better decision making and happy employees.

Reinvent and Innovate

Microsoft Dynamics 365 brings insight into operations that allow you to cut expenses. This focus inspires positive change in operations to address optimization. It also impacts change with shortened processes and cost-cutting.

This means you can improve on time to market.

The tool also helps with collaboration so teams can improve:

  • Speed research and development
  • Reduce costing and resources
  • Innovate production processes
  • React faster to trends and industry developments

Dynamics 365 allows you to reinvent a product. This might come from innovation or the development of a new product based on a shift in the market. The system gives you the agility and needed information to stay in the game

Real-Time Insight

Microsoft Dynamics 365 provides real-time insight. Manufacturing organizations can also capitalize on predictive analytics. Plus, machine learning fuels the communication between CRM and ERP systems.

The manufacturing industry can now provide every employee with customer service answers. In addition, the manufacturing processes can also transform with real-time data during production.

Contact us if you’re ready to learn more about the intelligent platform. Also, check out our other blog posts on similar topics.

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Microsoft Ignite – helping businesses get on with business.

Microsoft Ignite – helping businesses get on with business.

Digital Transformation

Microsoft Ignite – helping businesses get on with business.

The Microsoft Ignite digital event was held between 2 and 4 November 2021. This event was the second to be held this year. Over 100,000 attendees from all over the world were expected to attend the November 2021 Microsoft Ignite event.

 

Microsoft showed up with many of its heavyweights to present the company’s newest services offerings. Here are a few new services that Microsoft either has already implemented or will implement soon.

 

Industry-specific cloud services.

 

The company also announced some industry-specific services. One of these is the Microsoft Cloud for Manufacturing. Some smart factories can generate 1 petabyte of data each day. This data can be precious if harnessed correctly. Still, most companies use less than 1 percent of their data to generate new services or business models.

 

The Microsoft Cloud for Manufacturing connects the intelligent, integrated cloud, and edge capabilities of the Microsoft stack to essential manufacturing processes. It connects your staff, assets, workflow, and business processes to enable you to build a more robust manufacturing business.

 

Another industry-specific offering announced by Microsoft is the Microsoft Cloud for Financial Services. The Microsoft Cloud for Financial Services incorporates Microsoft Azure, Microsoft 365, Microsoft Dynamics 365, and Microsoft Power Platform with unique features designed to support the financial services industry.

 

According to Microsoft, the Microsoft Cloud for Financial Services “was also designed for even the most complex control frameworks and regulatory requirements facing the industry, with [their] multi-layered security, comprehensive compliance, and trust commitments build-in”.

 

Microsoft Cloud for Financial Services aims to enhance customer and employee experiences, combat financial crimes, and manage security and compliance.

 

Microsoft also released the Microsoft Cloud for Nonprofit. This tool is built for roles unique to the nonprofit sector like fundraisers, program managers, and volunteer managers. Microsoft Cloud for Nonprofit assists role players to better engage with supporters, manage data, and design and deliver programs.

 

Microsoft Cloud for Sustainability assists organizations pursue and achieve their sustainability goals. The tool enables organizations to record, report, and reduce their carbon emissions.

 

Microsoft Cloud for Healthcare also received new updates that will enhance patient experiences, frontline worker collaboration, and care coordination.

 

New features for Microsoft Dynamics 365.

Dynamics 365 also received new features to assist businesses and their employees in navigating the new hybrid world. These features revolve around enhancing connectivity and streamlining communication and collaboration.

Collaborative apps for Microsoft Dynamics 365, Power Platform, Office 365, and Teams.

Updates to Dynamics 365 that are currently in preview will allow organizations to “operate as one business, everywhere.” Dynamics 365 and teams promote accessibility to business data. That means relevant information gets to the persons who need it most in order to make informed business decisions.

 

These new features give sales teams access to experts in your organization. This will allow your sales team to build informed proposals that address your customers’ needs. Sales teams can invite anyone in your company to collaborate with them via a Teams chat or channel. They could also make use of the “chat now” pop-up feature in Dynamics 365 or use the inbound/outbound digital voice feature.

 

The new collaborative features encourage real-time engagement. Collaborators can see who is working on a project with them. The Dynamics 365 apps also make it easy for individuals to contact those who are collaborating with them. These communication options include calls, chats, and scheduling meetings.

 

Microsoft Customer Experience Platform.

The Microsoft Customer Experience Platform allows your business to harness your customer data to create more personalized customer journeys. “With a deep understanding of customers and rich, out-of-the-box insights, organizations can now understand and predict intent to deliver the right content on the right channel and I the right moment.”

 

The Consent-enabled Customer Data Platform (CDP) (currently in preview) permits your chief data officer to use consent data in the consumer platform. This can help your business construct complete customer profiles while protecting their data.

 

The business-to-business CDP merges customer data from various sources. This includes CRM tools, email, websites, social networks, partner systems, and even point-of-sales.

 

In addition to this, AI content creation features automatically generate content snippers that can be used as the starting point for customer emails. This simplifies segment creation and enhances targeting to specific audiences.

 

Microsoft Dynamics Supply Chain Management.

 

Microsoft Dynamics 365 Supply Chain Management can help you to “predict demand shifts, supply constraints, and equipment downtime by eliminating siloed Manufacturing Execution Systems (MES) to improve visibility of the production floor”.

 

More than that, Microsoft has added a priority-based feature (in preview) to the planning optimization engine in Dynamics 365 Supply Chain management. This helps to avoid out-of-stock situations. This feature automatically calculates which high-demand stock needs to be replenished based on outstanding orders, current stock levels, and projected inventory. This automation can streamline a company’s supply chain management processes.

 

Microsoft Dynamics 365 Customer Service voice channel.

Customer service solutions revealed during the Microsoft Ignite event include the Microsoft Dynamics 365 Customer Service voice channel. According to Microsoft, “this addition to the existing omnichannel capabilities leverages the power of Microsoft Teams to bring traditional Contact Centre as a Service (CCaaS), Unified Communications as a Service (UCaaS), and Customer Engagement Center (CEC) under a single, integrated customer service Software as a Service (SaaS) solution with Dynamics 365 Customer Service”.

 

The Microsoft Ignite event revealed a smorgasbord of exciting new features that encourage more effective and efficient collaboration and business processes, helping your business get on with its business.

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Why is Digital Transformation harder for Midsize Businesses?

Why is Digital Transformation harder for Midsize Businesses?

Digital Transformation

Why is Digital Transformation harder for Midsize Businesses?

At first, many business owners thought the digital age was nothing more than a flash-in-the-pan fad. Years later, almost all had accepted that it was absolutely necessary to support real-world business efforts – perhaps a website and a little social media marketing. Today, this supportive role has again faded into insignificance. To compete in the digital age, you need to be digital, not simply do digital.

 

Going digital: a necessary disruption

 

In a nutshell, digital transformation strategies are those moves a business makes that are driven by technology, with the goal of implementing new systems, onboarding new talent, and adopting new processes to improve both their operations and their interactions with customers.

 

As if the already speedy shift to online channels weren’t happening fast enough, the COVID-19 pandemic has accelerated the trend as businesses struggle to remain customer-centric in their approach, even if seeing them in person is no longer an option.

 

Three key areas are often identified as being at the core of a successful transformation:

 

Technology

Are you making use of the Internet of Things? Blockchain? Artificial intelligence? Understanding how new technologies can contribute to a digitally enabled business is essential, but many businesses of all sizes are also bogged down by legacy technologies – old that doesn’t always gel with the new – that makes integrating these systems increasingly complex on an SME budget.

 

Data and Analytics

Data is all around us, but does your business possess the insight it needs to translate it into actionable strategies? Creating actionable insights that enable the clean and efficient collection of data, not to mention its interpretation into actionable insights, is no easy task. It requires skills that few SMEs have an appetite for, despite the investment it represents.

 

Processes

Digital transformation can be achieved incrementally, but it does require a mindset that encompasses the entire business. One of its chief goals is to dissolve silos between processes and departments. To be truly transformative rather than merely useful, digital thinking and long-term planning must be the goal from end to end.

 

The Most Important Aspect: Leadership

But digital transformation for the SME is not always as simple as it seems. Although – as the old metaphor suggests – a large ship (read: a big, established company) takes more time and energy to change direction, they do have an enormous advantage over SMEs when it comes to digital innovation: resources. With large budgets and usually entrenched partners already working on aspects of digitisation – from HR and payroll to marketing and CRM Solutions, enabling digital strategies seems to come so much easier to those who already seem to claim the lion’s share of the pie.

 

But access to resources and high-end services is a tiny part of the overall puzzle. The real reasons that so many SMEs struggle to reach digital maturity lies in the business operationally, and the people at the top. Digital transformation efforts require a culture shift that must be led from the top. Large businesses will have a CIO, CTO, or innovation officer leading the charge, but such specialised executive roles are more rare in SMEs. From products and services to the very business model itself at all stops in the supply chain, manufacturing to marketing to customer experience, building the omnichannel experience that customers expect needs to be led with intention and built into processes throughout the business.

 

The Bottom Line

 

Through technology, businesses are constantly making improvements to the way they compete in a difficult marketplace, but true digital transformation cannot be achieved through technology alone. A complete overhaul of processes, leadership and culture is necessary to become a truly digital organisation able to enhance their operations and revolutionise the way they work.

 

 

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