The importance of well-organized CRM data

Numerous advances in informational technologies are forcing modern day companies to continuously evolve and adapt in order to stay relevant in the business world. Said progressions occur in many different fields from collecting, to organizing as well as making efficient use of the data collected from all aspects of the business. In order to stay competitive and efficient in the market, companies need to collect data on consumers, products, suppliers, promotions, customer service, inventory, logistics, reclamations, analytics, reports, etc. As divisible from the previous sentence, the amount of collected data is enormous. That is why companies have started treating the quality of the data with extra caution.

3 issues that arise from poor quality control

Financial loss

Missing an effective data system can prove to be quite costly for the company. Not having this type of system in place hinders the company, as it is not benefiting from potential revenues it could generate, by making full use of the gathered information. They are likely to be outperformed by other companies with better information systems that can apply gathered information to marketing, production, logistics, sales, and other departments across the company in order to significantly improve the overall return on investment (ROI).

Productivity loss

A lot of productivity loss can come from unorganized databases. Companies lose a lot of labor hours spent on tasks, that are a part of obsolete or unorganized informational systems. By updating and improving the informational system, companies can cut down time spent on performing tasks while simultaneously improving efficiency. No need to emphasize, that this leads to greater revenues.

Low trust in data

Companies with poor data quality usually don’t trust the acquired data and don’t make use of the reports when preparing business strategies. Or even worse, users of systems don’t realize that the quality of data is poor and use it for the company, which can hurt its' profitability. After losing profits they decide that information systems are useless and abandon them instead of making improvements.

Effects of poor data quality

According to a Validity's report, a staggering 44% of respondents estimated their company loses over 10% of annual revenue due to poor data quality.

Most organizations don’t have a true understanding of their data health today. Additionally, data mismanagement often leads to dubious internal practices, with 75% admitting they often fabricate data to tell the story they want their managers to hear.

A poor information system affects employees too. CRM users are at their breaking point, with 64% saying they would consider leaving their current position if additional resources were not allocated to a CRM data quality plan. source

Luckily, there’s a light at the end of the tunnel - Acronx. A well-designed informational system that serves as a CRM, mini-ERP, marketing tool, automatic notification system, and invoice generator. With it you can bring the quality of data to the next level as the program is designed in a way to collect and efficiently organize data, connect related documents, and adapt information gathering to companies’ specific needs. One of its' main features is a report module. It allows users to create reports comprised of any data put in the software's database. They can arbitrarily present the data with the help of complex filters in the form of reports, graphs, tables, pie charts, and more. Join Acronx and elevate your company.

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