3 Tips To Make Life Easier For Your Customers – And Your Business

3 Tips To Make Life Easier For Your Customers – And Your Business

Article credit: Sage 

Suppose you went into a store. You take something from the shelf. But there’s a problem. There’s no price label. Well, okay, maybe that doesn’t matter. You can guess the price and it shouldn’t be too expensive. But there’s then another problem.  

You can’t find the checkout.  

You search up and down the aisles. After a few minutes, you find it buried at the back of the store in a dark cornerThere’s nobody manning it but, as you wait and tap your foot, a sullen staff member shuffles over.  

Wouldn’t you know but there’s then another problemYou want to pay using your debit card, you say. The surly staff member slowly shakes his head and points to a sign behind him that you hadn’t seen until now – CASH ONLY.  

You dig around in your pockets. You dash out to the car and grab some loose coins. You’ve just enough. You get back inside and hand over the money. 

The staff member starts shuffling away.  

Hey! What about a receipt? The staff member sighswalks back, jabs at the cash register, and hands one over.  

Walking out, you realise that if you never stepped foot in that store again it would be too soon. stop for some groceries turned into a demanding, time-consuming mini-drama 

But what if your business was making life as hard as this for your customers or clients?  

More than customer care 

Most of us think about customer care only in terms of the selectionbuying and support process. As for the invoicing and payment process, well, that’s literally an afterthought. All that matters is getting the money – right?  

Yet making the customer experience here as good as possible is also vital. Your customers will be happy and more likely to use your business again if they can settle their bill quickly and easily. More importantly, you might find you get paid more quickly. This will have obvious benefits for your cash flow. 

Add to this the fact that small business’ payment processes are often full of little, almost invisible, inefficiencies that eat up your time. In fact, generating invoices takes up 14.2% of the average business’ admin time, according to recent research by Sage. Once you factor in the time taken to deliver those invoices, check that they’ve been paid, and follow up on the 45% of invoices that aren’t paid within 30 days, that time adds up further still. 

Here are some tips that may mean both you and your customers are happy when it comes to collecting payments.  

1. Offer your customers different payment methods

When your customers have to pay their invoices in a way that feels unnatural or unfamiliar to them, payment procrastination sets in. They promise themselves that they’ll sit down and sort it all out the second they get a quiet moment… and, all too often, they forget all about your invoice. 

By offering flexible payment options, the right software lets clients pay in the way that’s fastest, easiest, and most convenient for them. That means faster payments, fewer forgotten invoices, and less time following up on missed payments for you. 

Some providers will integrate your invoices directly with your payment system, so that customers can pay on credit or debit card directly from your invoice in a matter of clicks, instead of spending extra time digging out bank details or finding the chequebook.  

Sage’s research shows that, while customers take an average of 35 days to make payments by cash, cheque, or bank transfer, ‘pay now’ buttons on invoices or phone payments take just 20 days. That means more money in the bank for you, and less time making those awkward phone calls to chase payments. 

 

2. Automate your invoice tracking process

By setting up a system that automatically alerts you when invoices are received and paid, you’ll know exactly which clients you need to chase and avoid wasting time combing through bank statements and comparing invoice numbers. 

This also means that data on how, when and the amount customers pay you is automatically transferred and trackable within your accounting software. 

You are also one step ahead of any excuse the customer might offer. If they say they haven’t received the invoice (which can be a common occurrence!), you can mention how you have information in your accounting software saying the invoice was opened at a certain time and on a particular date.  

You can even pre-empt which customers are likely to pay late and tailor invoices accordingly. Software like Satago can conduct an initial risk assessment of each customer, use that information to decide on a case-by-case basis how much credit you should offer, and then automatically chase late payments when they occur. 

3. Create accurate invoices

There are few things more stressful and time-consuming than debating the accuracy of your invoices with customers – or fixing errors in invoices that understandably arise from manual processing. 

It upsets them. It upsets you. It doesn’t make for good relationships, and nobody enjoys wasting their valuable time on things like this.  

To avoid it, look for a function that switches your customers over from estimate to invoice automatically in your accounting software. If this isn’t possible, try copying and pasting details directly from the estimate to the invoice form. 

Of coursethe gold standard here would be for the field staff to convert the estimate to an invoice themselves, avoiding any work for the finance department. This is why thinking open and inclusive in your software choices is always best – if everybody is on the same platform then workflows like this are a cinch to create, and everybody benefits.  

Conclusion 

There’s everything to gain and nothing to lose by considering the entire customer/client journey with your business – including making payments as easy as possible. And thanks to modern software, all this could take as little as just a few hours to put in place.  

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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Missing Records or Blank Email History Enquiry Screen

Missing Records or Blank Email History Enquiry Screen

Article credit: Sage 

Article Outline Missing records / blank Email History Enquiry screen
Knowledge Type Solving an unknown issue
Knowledge Activity Enquiring
Application Version V7.20.4.0000
Application Edition Evolution Standard / Sage 100 Evolution
Evolution Premium / Sage 200 Evolution
Primary Module Accounts Receivable
Secondary Module Accounts Receivable
Knowledge Source Incoming Customer Query

 

Description of the Issue

This article explains why there may be missing e-mailed documents on the Email History Enquiry screen, or viewing a blank screen.

Solution / Details

  1. Navigate to Accounts Receivable | Enquiries | Email History Enquiry 
  2. Information on the Email History Enquiry screen will only populate if you use the Accounts Receivable mail merge function.
  3. Note that the Email History Enquiry screen will as per design only store documents
    e-mailed using the Accounts Receivable | Transactions | Send Mail Merge
    utility.
    MISSING RECORDS or BLANK EMAIL HISTORY ENQUIRY SCREEN fig 1

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

For An Obligation Free Quote

How To Run A Cost-Benefit Analysis

How To Run A Cost-Benefit Analysis

Article credit: Sage 

A cost-benefit analysis is a vital part of starting and running any project. It gives you the information you need to frame objectives, calculate estimates of needed resources, and define objectives.

In practice, it is the comparative assessment of benefits along with its associated costs.

Performing a cost-benefit analysis is not difficult, but it is often overlooked. Let’s look at how one works.

The value of everything

The first step of your analysis is to attach a value to every aspect of your project or business.

For some things, this is easy – physical assets have a monetary value, for instance. More difficult is calculating values for things like labour. These values may have to be estimated. Wherever possible, you should express these values in monetary terms.

You should also take note of which costs are recurring and which aren’t. Additionally, you’ll want to consider some potential values:

  • The cost of not doing a project,
  • The cost of your project or business failing, and
  • The opportunity costs, or the potential benefits you may have accrued, had you invested your time elsewhere.

Looking forward

No project happens in one moment, so it’s important to consider the potential costs of your project over time – obviously, noting your recurring costs above facilitates this.

Alongside this, you need to work out how far into the future you expect to accrue benefit from your project, as well as certain assumptions:

  • Inflation needs to be considered in your analysis, although you will want to convert all values into current monetary values (real cost).
  • Lost return on your investment is the amount you would have made by investing the money you spent on the project.

These two figures give you the net present value of your project.

It’s also worth keeping in mind that the further into the future your estimates go, the less reliable they are, as a changing environment can make them redundant.

Intelligent comparison

Once you have calculated your costs and benefits, you’ll need to compare them quantitatively to determine if the benefits outweigh the costs.

If they do, then you have the rationale needed to go forward with the project, based on the objectives and goals contained therein. If they don’t, you’ll need to go back to the drawing board – review your proposed project to see if adjustments are possible that will allow you to take it forward.

If this is not possible, you may have to face the hard fact that your project should be abandoned.

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

For An Obligation Free Quote

Challenges And Opportunities For SME Accountants

Challenges And Opportunities For SME Accountants

Article credit: Sage 

According to an SMP Small & Medium Practices Survey, led by the International Federation of Accountants Global, certified public accountants (CPAs) all over the world experience the same opportunities and challenges. These include attracting new clients and staff, remaining up to date with the latest regulations and standards, increasing pressure to lower fees, and retaining current staff.

With technology growing rapidly, accountants are also under pressure to use the latest hardware and software.

These are the four most common challenges facing SME accountants:

  • Talent – The hunt for talent is fiercer than ever, complicated by the fact that workforces, in general, feel overwhelmed and unengaged at work.
  • Technology – Despite the many benefits technology gives SME accountants – like increased productivity, process transformation, and automation – many accountants report feeling pressure to keep up with technology found both inside and outside their customers’ businesses. 
  • Time – As in many industries, time poverty is the most common challenge experienced by accountants. There is simply more that needs to be done than there is time to do it. This prevents CPAs from being proactive and involved with their clients; rather, they’re sinking deeper into the daily grind.
  • Transformation – There is the possibility of tremendous growth thanks to new technology and new skills available to CPAs, which can be seen in the prevalence of consulting and advisory services. This can also feel daunting, but the key is to embrace the change rather than fight it.

How to stay ahead of the pack 

Thanks to the growth of technology and globalisation, it’s best to embrace the drastic changes that are already underway, and to lean into the ones we know are coming. Here’s how to become an ‘anticipatory accountant’ and stay ahead of the pack: 

  • Don’t wait to change. Rather, spearhead transformation before you have no other option. This is the mark of an exceptional leader. 
  • Get with the times. Technology is the biggest driver of transformation. To be as efficient and effective as possible, harness the new.
  • Upskill yourself and your team. While most of us know that technical skills need to be developed, often other necessary upskilling opportunities are overlooked. Emphasis should be put on training your team to become future-focused. Anticipation is a skill, even though it’s not often regarded as one.
  • Guard your values. Fast-moving change can be unsettling. Make sure your team feels secure by highlighting which elements of the business won’t change.
  • Make the most of this wild ride. After all, wouldn’t you rather be the disruptor than the disrupted?
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

For An Obligation Free Quote

6 Best Practices When Writing Reports

6 Best Practices When Writing Reports

Article credit: Sage 

We recommend the following six best practices when writing your reports:

  1. Use cell references to enter data into formulas. Using cell references in formulas allows the formula to update when the data is changed at a later date, without having to manually edit each formula. This method makes modifying and maintaining your worksheet easier.
  1. Use account ranges in your reports to ensure new accounts being added to the general ledger are included in your reports.
  1. Use Conditional formatting – with proper visual design, you will be able to discern ‘good’ or ‘bad’ values in seconds.

  1. Avoid the extraneous – remove any ‘noise’. If it doesn’t serve a purpose in the spreadsheet, take it out. That includes prior old data, prior layout attempts etc. Many times even a comma disrupts formulas.
  1. Use a consistent naming strategy with versions and save the template using Report Manager often. For example: If you are working on updating the 4th version of your income statement spreadsheet (in other words, you have 4 different copies of the standard report) use some type of naming sequence to organize your reports. Name and save the workbook as Income Statement 5.0 before you start making your changes. If something goes terribly wrong, you can always revert to the old version.
  1. Set Freeze Panes in Microsoft Excel so you can easily scroll around the worksheet without losing view of report headings, etc.

Also, keep the following in mind when writing your reports:

  • Consistency – spreadsheets have a consistent structure and look, making sharing easier
  • Clarity – spreadsheets are clear and structured, reading like a book, navigating like a website. This makes it easier to share and audit.
  • Efficiency – spreadsheets use efficient formula structures. They will be easier to use and share, saving time at key points in critical processes.
  • Flexibility – models are easily changed and extended without the need for a complete re-work
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

For An Obligation Free Quote

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