Category: CRM Software Development

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The Advantages of POS Systems for Small Businesses

The Advantages of POS Systems for Small Businesses

Excellent point-of-sale systems provide numerous advantages to small businesses. They will not only assist in the management of day-to-day sales and inventory, but they will also assist in the growth of businesses through the use of built-in loyalty and marketing software, as well as provide business intelligence.

The following are the top eight advantages of POS systems for small businesses:-

  • Reduces the amount of time spent on administration

Effective POS software will be able to provide you with relevant reports in a timely manner to assist you in making profit-enhancing decisions. It is critical to have point of sale software that is simple to install, gets up and running quickly, and is simple to use. A streamlined point of sale system will reduce administrative hours and free up time for owners to work ‘on’ their business rather than ‘in’ their business.

  • Increase the profitability of your store.

POS solutions have the potential to boost store profitability. This can be accomplished through effective inventory management as well as the capture of buyer behaviour, which will allow for more personalised and targeted marketing campaigns. Next-generation retail software can also boost profits by allowing you to sell, order, and market from anywhere, at any time.

  • System of Inventory Control

A good point of sale system will include inventory management software. This is critical for any small business to ensure that the right stock arrives at the right time. Inventory management systems enable you to make informed ordering decisions based not only on available stock, but also on buyer behaviour and historical data.

  • ‍Loyalty

Loyalty programmes for valued customers should also be possible with POS solutions. Such programmes have been shown to assist in the growth of small businesses, the creation of repeat customers, and the increase of sales. This can be accomplished by utilising loyalty points and vouchers. Furthermore, they enable you to collect buyer information and track buyer trends. This data can be used to create targeted incentives, marketing campaigns, and, most importantly, a better overall customer experience.

  • Marketing

A POS system can be extremely useful in assisting you in the planning of marketing campaigns. You can use the information gathered to ensure that your marketing efforts are personalised and relevant, resulting in increased profits.

  • ‍Business intelligence

Point-of-sale systems should have a single central database that is real-time, accessible, and receives automatic updates. It should be able to generate meaningful reports, allowing small businesses to make more informed business decisions.

  • Instant access.

The ability to access your POS solution from anywhere and at any time is now required. Small businesses must be able to work from home or while on the road, and instant access is critical. New generation technology has transformed the way retailers operate, allowing for real-time access to financial and operational data. Another significant advantage of having immediate access is that it allows small businesses to provide better customer service. Finally, POS systems should allow for the integration of physical storefronts and online shops.

In conclusion, there are numerous advantages to using point of sale systems for small businesses, and an efficient system is critical in today’s digital age. They have the ability to improve the efficiency and profitability of all aspects of day-to-day operations, from initial stock ordering to post-sale, targeted marketing.

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Why has it become a must to invest in a CRM system?

Why has it become a must to invest in a CRM system?

It is tough to find customers for your business and it is tougher to retain them. The question is: how to make them an important component of our company? This is where Customer Relationship Management comes into the equation. I think we all have heard about CRM at some point or the other. So, what exactly is this CRM? Customers are critical to businesses as their survival depends very much on the former. The manner in which you are managing the customers determines the success of your business. Hence, CRM is all about managing your customers efficiently for the betterment of your business. These days technology has grown by leaps and bounds and you have software for every solution. The same holds true for CRM as well.

6 CRM benefits to make your customer relationships better

The CRM software is a potent tool used to manage your relationship with customers in an effective and organized way. An ideal customer relationship management software is well equipped to streamline customer information by collecting them at a centralized location to offer a clear view of all the customer data. Through such information it becomes easier for you to reach out to customers anytime via right channels. There are several benefits of having a CRM system in your organization. Let us understand them one by one.

  1. Offers a potent KYC tool

At banks you have Know Your Customer (KYC) option to maintain good relations with customers. This helps banks to know everything about their customers as all the information about the latter will be stored in a computer. This facility of KYC is what you get if you have an efficient CRM system as the information stored on each contact in one place serves the purpose of a robust communication tool. A CRM system offers the business a very competitive edge. Apart from full name, email address, telephone number, postal address, etc, it also offers good insights such as a contact’s vocation, his or her ties with other contacts in your database, the language spoken etc. Armed with such information it becomes convenient to indulge in personalized communication.

Convenient segmentation

Everyone aspires to do business or communicate with a perfect audience not with a faceless soul. This can be facilitated by dividing contacts (customers and prospects) into target audiences. As for segmentation, CRM is a powerful tool as it facilitates data break down into categories and criteria, simplifying the process of creating focused lists. With such a segmented list you can run a customer-specific campaign and assess your sales process. By understanding your target audience, you can easily customize your offer and tactics in line with the needs of your customers.

3. Aids in retaining customers

Retaining the customers is more important than finding new customers. This is an important job of every business. CRM is an expert in customer retention as it assists you in reminding you about your appointment or dispatching follow up mails. Also, the CRM system aids you in contacting customers who have not been in touch for a while.

Better anticipation of needs

If you know what to expect then it boosts your confidence. The same holds true for businesses as well. It becomes easier to deal with a customer especially if you have been following their buying pattern. The buying pattern can be conveniently had with an efficient CRM. Further CRM helps in offering better customer service. The easy access to the communication history facilitates in offering help to customers on time. So, CRM has many benefits.

Takes communication to a different level

In business, it is not appropriate to make customers wait. It is better to avoid such a scenario.

A CRM system goes a long way in addressing such problems. It saves your and your customers’ time, by providing a host of customizable, readymade email templates, letters, documents, proposals etc. These can be easily used to establish communication between your customers.

Better protection of data privacy

Data privacy is prone to malicious abuse these days. So, it becomes important to protect the data of your customers. A CRM software with inbuilt GDPR-related functionality is potent enough to safeguard against any attacks. The other benefit of CRM is the time saving potential as GDPR will do everything for you. A CRM system helps in getting your contacts’ consent to store and utilize their personal particulars, send automated notifications to all the latest contacts intimating that you want to store their data.

Conclusion

Never commit the mistake of assuming customers as mere sales opportunities . You might have some incredible things at your disposal but if you treat your customers badly, then there won’t be any takers for your products. That’s why it has become very essential to have cordial relationships with them. And for the same reason you need a CRM as it assists in forging good ties with customers. Also, having a GDPR-compliant CRM system ensures that there won’t be a security breach with regard to data. Hence, a CRM Software Development system is something that needs to be implemented in every organization.

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Top CRM Market Statics Which Aids In Exploring CRM Potential

Top CRM Market Statics Which Aids In Exploring CRM Potential

Being in CRM consultancy for more than 10 years , Winklix has deeply experienced market trends and CRM statics . In order to help you out with better understanding of CRM software as well as its benefit and challenges , we have created deep insight article describing it in broader way .

The CRM Market Is Already On Rise

As written by Gartner in their recent reports , CRM market size will reach $ 80 billion by year 2025 . Another major survey on customer engagement platforms by Ovum has also Cleary stated CRM growth by segments . It is expected by year 2022 , marketing automation CRM segments will grow at fastest in comparison with customer service and salesforce automation which will also grow at same time .

SalesForce Will Remain CRM Market Leader 

As per the recent reports conducted by Gartner on CRM market , SalesForce CRM is still achieving top most position acquiring 19.5 % of CRM market share . SAP as per recent reports is acquiring only 8.3 % of the total market share . 

The report given below clearly states that CRM is synonymous with Salesforce for many user and hence it is not only choice as many customers are choosing other solution as well .

CRM Is Must To Keep Ahead In Business Competition 

According to some sources , near about 82 % of the companies are using CRM solution to manage sales process automation and sales reporting . Even Salesforce states in their reports that CRM solution helps increasing employee productivity , customer engagement and retention as well as reap other benefits .

Hence it is more likely for a company to succeed if they are exploring CRM capabilities at its full in comparison with business who deny to use CRM .

Success CRM Implementation Will Give High ROI

According to FinanceOnline , the ROI on CRM software implementation is from $ 2.50 to $ 5.60 for every dollar spent on software solutions . Modern CRM is cloud based solution which given various kinds of benefits and training for IT professionals which thereby increases : 

  • High employee productivity 
  • Increase number of sales leads and follow ups 
  • Increase conversion of leads 

Most Of The CRM Users Prefer Cloud Based Delivery Version   

As per the recent survey conducted by SelectHub’s CRM buyers survey , majority of the respondents prefer cloud delivery model to on premises one . It was only 43 % of the user which treat offline and cloud CRM at equal place .

Offline or on premises CRM requires complex infrastructure as well huge investment which is most prominent reason why many tend to hesitate choosing on premises offline CRM .

CRM Is Being Used By Service , IT and Manufacturing Companies 

As per the recent survey by SelectHub’s CRM user survey , almost 32% of the users of CRM is from service industry . Another major share of 13 % is acquired by IT and manufacturing companies and retailers companies are taking market share of 18 % .

CRM Adoption Improves Sales Performance 

If you are an enterprise and your CRM adoption rate is less than 75 % , then you are more likely to have poor sales performance as stated in sales operation optimisation study by Miler Haiman group .Lower adoption in turn leads to poor management , follow ups with clients and thereby lower win rate . Thus in case you want to increase your sales , always try to ensure that your organisation is equipped with CRM solution and at the same time your user must get hands on on user training and release notes on custom built CRM functionality .

Manual Entry And No Third Party Integration Are Main Obstacle To Successful CRM Usage

The majority of respondent in state of inbound reports by HubSpot stated that main reason for failure of CRM solution is manual data entry and lack of integration availability of using the system . That’s why industry hesitate to implement CRM as a separate system as it brings hesitation to its user and thereby hamper the overall adoption of CRM .

Conclusion 

A CRM system which in turn support sales , facilitate customer management and give a hands on marketing activities is must for every organisation in todays world if you want your organisation to be ahead in this competitive world . But if you are thinking of that purchasing of CRM can immediately solve your problem in every way and your job will end there , then that will never going to happen . In order to help sales , marketing and customer service team to explore the most out of CRMs , it is viable to avail customisation , integration and user adoption service from some reliable CRM software provider .