What Is CRM Software?

What Is CRM Software?

Article credit: Sage 

In this article, we’ll unpack CRM systems and explore how you can make a success of your investment with a winning customer relationship management strategy.

What are the benefits of CRM?

Increased sales and satisfied customers are obvious benefits of using a CRM. One study found that companies that use a CRM system report an average return on their investment of $8.71 for each dollar spent.

With a central view of your customers and leads, you can:

  • Discover more sales opportunities,
  • Send effective marketing messaging to leads, and
  • Resolve customer problems faster.

Here are the top 10 benefits small and medium-sized businesses can realise when using a CRM system:

  1. Reliable customer information

Within a CRM system, all your employees can find detailed information about your existing customers and leads. This includes contact details, information about their businesses, and details about previous calls and email exchanges.

  1. Open data for all employees

In many organisations, information about customers is stored in the heads of key staff or in files that only people in one department can access. This makes it impossible for other employees to know what’s going on. A CRM makes this information available to everyone.

  1. View interactions from all channels

Today’s customers make contact through a huge range of channels, or contact points, like telephone, email, or social media. A CRM gives you a central place where employees can get an overview of all interactions, regardless of channel.

  1. Save repetition for customers

A big frustration for customers is being asked to repeat information to different service reps. As a CRM stores all information from previous interactions in a central place, this problem disappears.

  1. Understand problems in your pipeline

A CRM gives you a full view of all marketing communications sent to clients. It can track how customers move down the pipeline, how they interact with salespeople, and how long it takes to close deals. With CRM analytics, you can pinpoint problems in your pipeline and change your strategy.

  1. Maintain subscriptions

A customisable CRM can be designed to automate various stages of the customer lifecycle, like triggering automatic reminder emails to clients when a subscription is about to expire, or reminding your sales team to follow up.

  1. Identify and categorise leads

One of the most important CRM concepts is the ability to categorise leads. A CRM can automatically flag warm leads. For example, if someone on your mailing list is frequently opening marketing emails or downloading brochures from your website, your sales teams can tailor messaging to that customer, based on his or her level of engagement.

  1. Data-driven view of your pipeline

With CRM analytics, your sales and marketing decisions are not made on gut feeling. Rather, they’re based on concrete data that helps you decide the best approach.

  1. Always up to date with mobile

Your sales staff specialise in visiting – or calling – customers and closing deals. A mobile CRM lets them record the outcome of their meetings in real time.

  1. Reports and insights

A CRM can provide you with a powerful dashboard that can help you understand exactly how your customer-facing teams are performing – from sales calls logged, to marketing emails sent, and customer enquiries resolved.

An example of CRM in the workplace

Imagine a firm that provides storage solutions for expats who work part of the year in Nairobi. Without a CRM, different teams would store customer information in different ways:

  • The customer service team has a spreadsheet that staff update each time they receive a call from a customer asking about their storage space.
  • The marketing team tracks email blasts sent to existing customers on a different spreadsheet.
  • The sales team cold-calls clients, while ‘warm leads’ are written on a whiteboard in the office.

There are countless ways that this storage firm could lose clients, while also missing out on opportunities. The customer service team might not notice that an account has come up for renewal; the sales team cannot see which customers have read emails sent by the marketing team; and different members of the sales team often call the same client multiple times, which only irritates them.

By introducing an easy-to-use CRM, the company would avoid all these problems while boosting efficiency, improving the customer experience, and increasing turnover.

What is a CRM strategy?

A CRM strategy helps you to deploy a CRM in the most effective way for your business. Like most technologies, employees may be averse to trying something new, especially if they can’t understand how it will benefit them. A CRM strategy is about making the tool easy for your employees to use, and ensuring it supports your wider business goals.

Here’s our six-step plan for creating your own CRM strategy:

Step 1: Review how your customer-facing teams are currently working

Map how departments interact and identify break points and communication issues.

Step 2: Set goals for your CRM project

You can only have a plan if you know the destination, so set goals that you can easily measure. This could be improving customer satisfaction by 50% or doubling the number of conversions.

Step 3 : Map out steps towards full deployment

Work out a clear plan for achieving your longer-term business objectives.

Step 4: Train employees on how to use your CRM

Provide CRM training sessions that are tailored to the different teams in your business, so that they get the most out of using the software.

Step 5: Start small then deploy wider

Trial your CRM with a single department – typically the sales or marketing team. This can generate curiosity from other teams when they see the success that department is having and motivate them to use the tool.

Step 6: Monitor CRM success

Have you achieved your original goals with your CRM?

Your CRM will evolve with your organisation. If you’re just starting out, you might only need a simple platform. However, by the time you have 50 employees using the tool every day, you will need something scalable, sophisticated, and customised to your needs.

About Us
Kiteview Technologies (Pty) Ltd was founded in May 2010 to provide the Sage Evolution Business Management solution to the SME market. The management team of Kiteview have combined +30 years of experience in the delivery of small to mid-market Financial & Business Management solutions. This experience, combined with a sound project implementation methodology has helped in Kiteview’s growth, becoming a Platinum status partner for SAGE Pastel within just 1 year.

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How To Process An Invoice And Get Paid On Time

How To Process An Invoice And Get Paid On Time

Article credit: Sage 

You need to know how to process an invoice if you want to be a step closer to having a successful and thriving business. Invoices are issued by your business to your customers and they will trigger the payment for the product or service you have supplied. Make sure you get this process right to increase your chances of getting paid on time.

OK, ground rules first, and this comes down to good housekeeping. Don’t dilly dally with your invoices (forgive the official terminology but this is an important point).

When you’ve made the deal and the product is on its way, get your invoice out. The longer you delay, in effect you are giving your customer increase in credit terms.

Bear in mind that it’s not regarded as fair to send out an invoice which is backdated. You might have the date when the deal was done on your invoice, but until the customer receives it, the days don’t usually start counting.

Make sure your invoice looks professional

Create an invoice that looks professional and provides the person receiving it with all the information they need to know. Remember, many companies have a department that is one step removed away from the person who made the buying decision.

On occasion, they can be hard to contact and harder still to establish a working dialogue. It’s not the case of: “Hey Bob, you know my invoice, do me a favour and pay it this week would you.” It’s more a case of sending an email to a nondescript office, home of the purchasing ledger, which could even be on another continent.

So don’t give them an excuse to delay payment and say it’s your fault for not supplying them with the correct details, or not doing it in the correct fashion (i.e. doing it in the way they want). And don’t argue if they have rules and systems that irritate you. At all times, be professional and play the game.

What needs to go on your invoice

There are a number of things that you have to include on your invoices. Ensure they feature these basic components before you take the step to process an invoice:

  • your company name
  • your trading address
  • the point of contact (your name and how to get hold of you, should there be a query)
  • what your customer bought (a description – don’t forget, the buyer may not receive your invoice, but just be asked to sign off the amount)
  • who ordered the goods (this is not mandatory but it can help)
  • an invoice number (your file number, for easy reference)
  • the date (don’t forget this, it’s vital)
  • the way you want to get paid (another hugely important element but one a large number of people forget)
  • credit terms (i.e. payable immediately, or within 7, 30, 60 days, etc)
  • the amount you are charging
  • your bank details (very important if you want to receive the money)
  • any stage payments
  • is VAT applicable

In short, include everything that the receiving party might need to process your invoice. Don’t give them the opportunity to say: “Hang on, you missed that key point out and now we’ll have to delay payment until the next run.” Believe me, the list of excuses can be endless and sometimes quite creative.

This will give you the best chance to get paid on time and reduce the chances of being paid late or you needing to chase an unpaid invoice.

One final point. Most invoices are sent by email these days and again, following good housekeeping rules, make very sure the email address is correct and that it has arrived safely (check with them that they have received the invoice. If they don’t get it, they won’t process it).

Don't waste any time when you need to process an invoice

Don’t waste any time when you need to process an invoice

Be quick when you process an invoice

And here’s a good tip: convert your invoice, if you’ve prepared it as a Word document, to a PDF. Some companies won’t accept Word documents – it’s worth checking with them to be on the safe side – so always send it out as a PDF. This protects you and them, because PDFs can’t easily be altered and what you see is what you get.

To be fair, most companies are very helpful about their systems and they are not out there to trick you. Work with them and also stay in touch too – don’t see your invoice as a stranger, stay friends with it.

Paul Donno, managing director of 1 Accounts, says: “When processing your invoices, you have got to be quick. Don’t delay processing your invoices. There are a lot of businesses out there that leave their invoice processing until the end of the month by doing that and if you’re giving 30 days, you could almost be giving 60 days credit.

“So, get software in place and get the process of running an invoice right, so raise a quote, or an estimate, and then convert that into an invoice.”

Don’t forget your bank details on your invoice

On some of the mechanics, Paul says: “I would also make sure on your invoices is basically your name and address, how to contact yourself, what it is you are actually selling to somebody and the amount you’re expecting to be paid.

“And really importantly – and a lot of people forget this – put on your bank details, or the easy way you can get paid, so your Stripe details, GoCardless details, or any other form of quick payment systems.

“There are a lot of barriers coming down now on how to get paid quickly so use the tools that are out there.”

Bulk invoicing

Dom Makin, aka The Dogfather, runs a dog boarding and dog day care centre that operates in London. Originally from Wiltshire, his background was in advertising, a sector in which he worked for 16 years before he changed direction and went into dog walking.

On how invoices are processed for his business, he says: “We process invoices by using a very clever system that calculates everything, up to the last day of the month. And on the last day of the month, all my clients are sent invoices. We do bulk invoicing.”

The key thing here is that Dom is on top of his invoicing and uses a system that ensures they are issued on time and without a fuss. This is the benchmark.

About Us
Kiteview Technologies (Pty) Ltd was founded in May 2010 to provide the Sage Evolution Business Management solution to the SME market. The management team of Kiteview have combined +30 years of experience in the delivery of small to mid-market Financial & Business Management solutions. This experience, combined with a sound project implementation methodology has helped in Kiteview’s growth, becoming a Platinum status partner for SAGE Pastel within just 1 year.

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This Is Why Joining An Entrepreneur Network Will Boost Your Business

This Is Why Joining An Entrepreneur Network Will Boost Your Business

Article credit: Sage 

Networking is a great way for you to receive – and offer – business support. It plays a key role in establishing any new business, or growing one, while it can also make a positive impact when it comes to showcasing a brand or product and sharing ideas.

It’s a really useful way of meeting people who can help you solve a problem, too, as you bid to turn your business ambition into something tangible.

Admin is one of the biggest issues that businesses face. If you decided to take the plunge, set up your business and sell your own products and services, it can be a bit of a shock to see how much admin there is to deal with.

From chasing late payments to creating invoices and dealing with accounts, there can be a lot to juggle.

Networking solutions

However, joining an entrepreneur network can lead to you finding solutions that will make your life easier and help you keep on track with running your business. You might find you bump into an accountant during a networking session, who can save you time by doing your accounts.

Or during a conversation with someone you meet at an event, you might find out about accounting software that will help you keep your cash flow in check.

Philip Salter, director of Ten, an entrepreneur network, says: “Being an entrepreneur can be lonely. It’s hard to speak openly and honestly about the challenges of running your business to you employees and sometimes you need a break from any co-founders.

“Informal or formal groups allow entrepreneurs to share challenges and learn from their peers. Deals might also be struck but this is rarely the main reason for these groups existing.”

There are many resources available, from government-led “growth hubs”, Salter points out, to free events, joining a local entrepreneur network or club and registering with an online business community that’s specific to your industry, product or business.

Philip adds that Ten is all about helping entrepreneurs “either indirectly through impacting policy or directly through practical support”.

He says: “We are the Secretariat of the APPG for Entrepreneurship, which sits across the House of Commons and House of Lords. We host regular events with ministers, entrepreneurs and experts to address key policy challenges.

“We also run a number of practical programmes. The Female Founders Forum, which we run with Barclays, runs speed mentoring around the country. And the Leap 100 is made up of the owners of 100 of Britain’s fastest growing businesses.

“With [UK law firm] Mishcon de Reya, we are able to offer focused practical support for entrepreneurs through this programme.”

Practical help and advice

Hannah Martin set up Talented Ladies Club in 2013 with her friend Kary Fisher in order to offer entrepreneurial mums practical help and advice with setting up and progressing their businesses.

She says: “Clubs and networks like ours and the Mum Enterprise Roadshow are all the more powerful because they’re not created by business tsars who don’t understand the struggles women face.”

However, if face-to-face networking doesn’t appeal or you’re “time poor” – perhaps you have prior family commitments or working on your business doesn’t give you much leeway to get out and about – there are other options available to you.

Hannah says: “There’s an increasing amount of online training, which is often affordable, accessible and can be worked on in your own time.

“It also helps to have positive role models – stories of women succeeding in business – to make it seem a possible path. Plus, there are some free business Facebook groups for women.

“New technology and apps now make running a business easier. You can set up with lower costs, often from home if you need to, or from an affordable co-working space.

“And online platforms offering everything from accountancy to legal packages mean that even small start-ups can afford to access support if they need it.”

What are the pros and cons of networking?

Carlo Gualandri, founder and CEO of Soldo, a multi-user spending account for businesses, says: “Having been an entrepreneur for decades, I have experienced first-hand the pros and cons of networking groups and events.

“My conclusion is that it depends on what stage you are in your business. For those just setting out, it’s good to establish yourself among your community with competitors, like-minded leaders and in your sector. But then you need to build the business and that takes time and effort.

“Pick the two best events during the year and stick to that – don’t become an events butterfly as you’ll start to lose focus. However, there may come a time when you want to raise a round of funding to support growth.”

Entrepreneur Lauren Aston joined a local creative network in a bid to improve her business
Entrepreneur Lauren Aston joined a local creative network in a bid to improve her business

When entrepreneur Lauren Aston set up her knitwear business – Lauren Aston Designs – in Devon,  she made use of her local business network.

She says: “I was new to the area so I joined a local creative business network. it was based in Devon and before the business was even launched, I went along. It was all women, they were giving advice and we helped each other out. It was nice meeting people in a similar boat.

“I have also made use of lots of online courses, so I can improve my business [with regards to online marketing] by taking photography and Instagram courses.”

What about entrepreneur network alternatives?

Royston Guest, founder and CEO of Pti Worldwide, a consultancy dedicated to growing businesses, says there are alternatives to attending traditional networking events and numerous “smart strategies” you can engage in.

From becoming a thought leader to creating a blog on your website, joining LinkedIn or running a systemised referral process through existing customers, there are lots of ways to reduce the need for “cold networking”, if need be.

About Us
Kiteview Technologies (Pty) Ltd was founded in May 2010 to provide the Sage Evolution Business Management solution to the SME market. The management team of Kiteview have combined +30 years of experience in the delivery of small to mid-market Financial & Business Management solutions. This experience, combined with a sound project implementation methodology has helped in Kiteview’s growth, becoming a Platinum status partner for SAGE Pastel within just 1 year.

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Top Tips On How To Ask For Payment: An Expert’s View

Top Tips On How To Ask For Payment: An Expert’s View

Article credit: Sage 

Wondering how best to approach that late paying client? Mike Guttridge, business psychologist and member of the British Psychological Society gives his best tips on getting paid.

State clearly what you want to happen

Make sure the client understands your point of view. Explain that you invoiced 30 days ago, the amount is now overdue and you expect to get paid by the end of the week.

Be nice, stay calm but don’t be a walkover

Certain clients will push you to the back of the queue if they think you’ll put up with it. It’s about being clear on your goal.

Keep reiterating the facts

Tell them when you invoiced them and your payment terms. And always get your facts right. If you sketch over the details – or worse, get them wrong – you’ll lose credibility and it’s easier for the client to ignore you.

Make personal contact with the person who employed you

It’s much harder to brush off somebody you’ve worked with or built a relationship with in the past. Ask if they can pull strings with the finance department or have a word with the boss.

Be persistent

Make regular phone calls. Suggest a meeting. Get in touch, often.

If you have to deal with the accounts department, be personable

Find out the person’s name and try to understand their point of view. Do they only pay on certain days? Is the company struggling? Treat everyone with respect, including the most junior assistant – it pays off.

Always use red ink on your reminder invoices

Red is known to command attention.

Get a special rubber stamp with your company name on it

Resend your invoice with “overdue” stamped right across the page, preferably in bright red. Be bold!

About Us
Kiteview Technologies (Pty) Ltd was founded in May 2010 to provide the Sage Evolution Business Management solution to the SME market. The management team of Kiteview have combined +30 years of experience in the delivery of small to mid-market Financial & Business Management solutions. This experience, combined with a sound project implementation methodology has helped in Kiteview’s growth, becoming a Platinum status partner for SAGE Pastel within just 1 year.

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Slow Searching Speeds For Stock, Customers, Suppliers Or GL Accounts

Slow Searching Speeds For Stock, Customers, Suppliers Or GL Accounts

Article credit: Sage 

Description of the Issue

Users may observe that Evolution needs a considerable amount of time, e.g. several minutes, to complete searching for inventory, customer, supplier or GL account records when making use of the various modules’ Maintenance Grid Search facility.

This long waiting period may be observed when searching for example a specific stock item in a company with around 3000 or more items.

 

Diagnosing the Issue

The issue has been diagnosed to occur continuously and can be replicated in the following
scenarios:
• occurs on all users/workstations/branches on a company database
• occurs on the same company database in a different environment
Solution / Details
The following steps explain how to resolve the abovementioned query:
1. Close the relevant Evolution company across the entire network.
2. Open MS SQL Management Studio.
3. Right click on the relevant database | Properties.

4. Click on the Options page on the left and notice the current Compatibility Level
on the right. It may be on SQL Server 2014 (120) especially if running on MS SQL
2014.

5. If having this Compatibility Level, change this to SQL Server 2012 (110) and click
on the OK button below to save the changes.

This step is required due to certain aspects of the MS SQL 2014 execution plan not
being fully compatible with optimal Evolution performance, but fortunately fixed in
SQL 2016.

Disclaimer: These articles refer to possible solutions and a platform to share information. Each article describes a method that solved a query (knowledge gathered from previous sites) and how Sage Evolution should operate. These articles make reference to a specific Sage Evolution version, however the thought process can be generalised. Please note the information contained in these articles should be treated as guidelines and adapted to accommodate differences in business processes and IT environments. Articles may not be applicable to all environments. If this article did not resolve your query please contact Kiteview Technologies Support Department on:  (+27) 010 005 6678.

About Us
Kiteview Technologies (Pty) Ltd was founded in May 2010 to provide the Sage Evolution Business Management solution to the SME market. The management team of Kiteview have combined +30 years of experience in the delivery of small to mid-market Financial & Business Management solutions. This experience, combined with a sound project implementation methodology has helped in Kiteview’s growth, becoming a Platinum status partner for SAGE Pastel within just 1 year.

Contact Us

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The Biggest Trends Shaping Accounting Today

The Biggest Trends Shaping Accounting Today

Article credit: Sage 

Most of the accounting process can now be automated, thanks to advances in HR, payroll and financial software, and artificial intelligence. In fact, technology has made accounting so simple that someone with little to no financial knowledge can balance a business’s books with relative ease.

This is not to say that technology has made accountants redundant – far from it. In fact, technology has made accountants even more valuable because it’s fundamentally changed their relationships with their clients, to one of consultant and trusted advisor.

These days, businesses rely on their accountants to guide them on everything from forecasting, to understanding market trends and financial strategy. So, while technology crunches the numbers, accountants have more time to learn the skills that will put them in high demand.

These are some of the biggest trends shaping accounting today and how you can leverage them to become better at your craft.

 

1. Automation

Accounting used to be a manually-intensive process, requiring the capturing of every transaction and receipt. Now, this can be done automatically and with few errors, giving businesses a real-time overview of their financial health. Modern solutions also link directly to a business’s bank account, running automatic screen scrapes and importing transactions directly into the software.

Tip: Embrace automation. With less time spent on manual tasks, you’ll have more time to research your clients’ industries, trends, and regulations. They’ll appreciate any advice you share on upcoming risks and opportunities.

2. Artificial intelligence

With automation comes artificial intelligence, which helps businesses uncover patterns in their information to make better predictions about future financial and market performance. Once the domain of data scientists, chatbots like Sage’s Pegg can churn out useful information in response to simple questions like, ‘Who owes me money?’

TipDon’t be afraid of AI. Learn how to use the tools and data to help your clients meet their financial goals. People don’t yet trust bots completely and still want advice from a human.

3. Security

The Protection of Personal Information Act (POPIA) requires accountants to protect their clients’ information. Those accountants with European clients will also have to comply with the EU’s General Data Protection Regulation (GDPR).

TipMake data security a habit among your team. Educate them on the importance of accurately processing, storing, and deleting client information. Accounting firms have access to critical client information – and cybercriminals know this. Make sure your systems are secure and that all data is encrypted.

Technology is changing the accounting role and we’re heading for a hybrid partnership, where humans and machines work together to best serve clients.

About Us
Kiteview Technologies (Pty) Ltd was founded in May 2010 to provide the Sage Evolution Business Management solution to the SME market. The management team of Kiteview have combined +30 years of experience in the delivery of small to mid-market Financial & Business Management solutions. This experience, combined with a sound project implementation methodology has helped in Kiteview’s growth, becoming a Platinum status partner for SAGE Pastel within just 1 year.

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