ERPs for Recurring Businesses: Which is Best?
Curious about getting a new ERP system, but not sure where to begin? There’s a lot riding on the decision. The wrong ERP can disrupt a recurring service, bringing costly problems including billing errors and reporting delays. But the right ERP system can bring automated revenue recognition and billing and invoicing integration among other benefits. And the best ERP system consolidates everything into one system that keeps things ticking over for you. Though running a recurring service can bring in plenty of rewards and stability, it still comes with challenges and complexities. And this is especially important with your Enterprise Resource Planning (ERP) system. In fact, the ERP can make or break a recurring service, because it runs the operations of the company. In this article we explore why an ERP is important for a recurring model, and what it needs to deliver optimal performance. 5 Examples of How a Bad ERP Disrupts a Recurring Business There are multiple ways that a bad ERP system will mess up your business. Here are the 5 we see most often with our customers: Billing Errors and Revenue Leakage Invoice mistakes are a nightmare. Not only are they expensive in themselves to rectify, but they have a knock-on effect. Inaccurate invoicing infuriates customers. It delays onboarding. When the system misses new terms or usage, it causes revenue leakage. These issues are major, and they can make a dent in your finance and customer service departments. You get delayed payments. Halted cash flow. Disputes. Your creditors are ringing you. And churn. Bad Subscription Management If you can’t manage the subscriptions, you’re going to miss out on a lot of growth and revenue opportunities. That’s because you’ll be so busy with all the manual processes, you won’t have the time to allow sales and marketing to draw in new customers and keep your existing customers excited by services and packages that keep them loyal and asking for more. You also won’t be able to invest time in high-value activities like new product development and retention strategies. Resource Allocation Challenges A recurring service business MUST keep on top of its resource allocation. Without it, you’re suffering from scheduling inefficiencies, shortages, lost hours, decreased productivity, and boosted operational costs. And it impacts your customer base too - no one wants late or delayed services, especially if they were already scheduled or included in contract terms. Not only do these types of problems impact your workforce, and put them into stressful situations, but they impact project management, how you use your resources, and whether your employees leave. All these issues cost a fortune to put right. Data Inconsistencies and Reporting Delays In the recurring services industry, data is key. And more specifically, getting the most out of the potential of financial and customer data should be the foundation of the big decisions you’ll make. But inconsistent, untimed, or siloed data will cause delays and reporting errors. It will delay your decision-making and impact your growth. The internal communication gaps can be costly, too. All of it can damage your revenue and management departments. You’ll never be 100% confident in your numbers, or that the future-focused decisions you need to make will be the best and most-informed possible. Customer Service Failures and Massive Churn When you have inadequate customer service functionalities (especially when you’re scaling), you’re going to get poor customer experiences. That can make your churn rate skyrocket and damage your brand’s reputation. Customers expect an excellent, customized CX that reflects who they are and what they want. If you can’t give it, they’ll go somewhere else. And the biggest consequence is that you lose a huge source of income because you have a 60% to 70% chance of up and cross-selling to an existing customer, while for a new prospect it's just 5% to 20%. These have far-reaching consequences that can be difficult to come back from. It’s the last thing you need when you’re building your recurring model business. So how do you know if the ERP you have is good enough for your recurring operations and growth? Necessary Traits of a Great ERP for Recurring Service Business To get what you want, what do you need? Flexible Subscription Management The best ERP systems recurring services must offer end-to-end subscription management capabilities. It needs to enable your seamless management of sales, revenue transactions, adopting evolving customer needs and behaviors at any point of the customer journey, and identifying the best variety of pricing models and subscription packages and terms. Automated Revenue Recognition You simply cannot scale without effective revenue recognition. A good ERP system will automate revenue recognition, ensure compliance with accounting standards across the countries you operate in, provide real-time payment term tracking, and provide reliable numbers for reporting and decision-making. Integration with Billing and Invoicing Billing, invoicing, and payment collection need to be synced up to your ERP to close the revenue leakage and immediately stop the loss of all the money wasted on manual hours, invoicing errors and late payments. The best system will monitor billing information with customer records and usage in real time, so that invoicing and payments are correct and on time. Customers love that too! That boosts your revenue in the long term but also keeps a steadier cash flow and happy customers, reducing or eliminating churn. Real-Time Analytics and Reporting Real-time analytics are key to monitoring your performance and quickly identifying problematic areas and opportunities for more growth. With a strong ERP system, you’ll get advanced reporting capabilities that give you insights and actionable recommendations to help your strategies and decision-making. Scalability and Customization If you want to grow and have the freedom to change and customize your offerings to customers, you’ll need an ERP that can easily scale your business (without putting additional pressure on your workers). It should also give you clear and fast adaptability to changing market demands and ensure that you stay on top of resource allocation. It’s the only want to meet customer needs and continue to grow without overextending your resources. How You Can Get One Solution for Your Recurring Business’ ERP Problem It’s important not to fall into the common trap of Frankensteining your ERP with lots of integrated add-ons. Because that scenario still has the manual labor and information silos that cause all the problems in the first place. Apart from that, the cost for maintaining integrations can grow exponentially. The best subscription management software solutions optimize everything for you, while freeing up your time for high-value work, eliminating integration maintenance costs altogether. When you centralize your subscription management, billing, revenue recognition, and customer offerings and interactions, the problems tend to be avoided in the first place. Automating the ERP responsibilities with one end-to-end solution not only saves you time and resources but also transforms the way your business operates. You get to enjoy: Fewer administrative burdens, because everything from functions like billing, invoicing and payments, customer service management, real time information flow between your teams, and all the data analysis you need for reports, forecasting, audits, etc. Selling opportunities with more attractive offerings, because the system crunches customer data to optimal identify the best personalized pricing, offering combinations, and even the time to offer them. Fewer invoicing and payment errors and delays because the automating and billing processes are integrating payment gateways that customers love. Because there are no more silos between Revenue, Customer Service, and Sales, delays and errors are drastically cut. All while remaining compliant. This brings in more stable revenue and boosts customer satisfaction and avoids expensive penalties. And finally, you get the chance to do the work you were hired for - delivering a great offering, exceptional CX, efficient operations, driving business growth, and building relationships that last with your customer base. Why not give yourself the chance to succeed with the best solution for your ERP needs? Say goodbye to manual ERP processes and boost your growth with Bluefort's cutting-edge automation solutions. Learn how our end-to-end system streamlines the end-to-end process.
Escaping the IT Project ‘Black Hole’: What to Do About Incorrect Project Balances
Being a COO in charge of an IT Services organization feel like being lost in darkest space. Especially when you're dealing with the dreaded project 'black hole' – a project balances that you can’t trust. You know the feeling - the project that was supposed to be smooth sailing. But it’s evolved into this ridiculous, resource-guzzling monster. It's enough to give any COO sleepless nights. That’s why we’re here to talk about it. Strap yourselves in! Where does the problem come from? Ever spun plates and juggled chainsaws at the same time? Then you know what maintaining a healthy project balance feels like. You must keep your eye on all resources, staff, deadlines, any external stakeholder concerns, scope, and cost. No matter how good a COO is, sometimes the project goes wrong. It might be more complex than it looked at the beginning. Stakeholders might ask for adjustments. The timeline doubles. Potential risks are everywhere. Maybe the cost is much different than we thought. Or the PM quits. Blink, and suddenly you’re floating in the project 'black hole'. And at the center of that is the money, scheduling, and quality.So what can trigger the chain reactions that cause them? Here are several of the most common: 1. Resources underestimated When either the PM or the COO underestimates any of the resources involved in the project (whether that’s people, tech, or money) odds are there will be a resource crunch that is not likely to be resolved unless you push deadlines back, spend more money, or bring in more people or overwork the ones you have. 2. Miscalculation of deadlines The time each task (large or small) in a project takes has to be estimated. That means there’s lots of opportunity to miscalculate. Pls, unexpected things happen which can also impact all the processes around it. All of it means missed deadlines and extended timelines. This disrupts the balance. 3. Scope creep Ah, this little beauty is the bane of every PM, COO, and any team involved. When your project’s scope goes beyond the original parameters or objectives, you’ll have to adjust time, deadlines, cost, resources, and workforce. Otherwise, you’ll be plagued by incorrect project balances. 4. Bad communication When communication is ineffective, there will be misunderstandings. And misunderstandings always affect project expectations. And then yet again, a project balance is off kilter. 4. Neglecting Risk Management Risk is woven into even the “safest” of projects. We all know Murphy’s Law and how it’s best to plan for things going wrong. When potential risks aren’t identified or managed, the first thing they’ll do when they show up is knock the project balance. The bottom line is this – it’s really hard to keep everything going smoothly once problems start to arise. And once you have one incorrect project balance, it’s hard to keep the other ones from being impacted. How incorrect project balances wreak havoc When you’re suffering with project balances that are wrong or unreliable, the knock-on effects are brutal. Do any of these sound familiar? Chaos in operations: You need your operations to run smoothly, but once you have gaps in one part of your operations, you might have to siphon resources from other projects to plug the gap. That causes a domino effect, and everything is delayed or disrupted. That makes it hard to keep your balances anywhere near accurate. The money abyss: Whether it’s because of errors or changes, unexpected costs can start to pile up and nickel and dime you to death. Suddenly, your budget’s totally shot, but there’s nothing you can do about it because costs have to be met. Personal Stress: Whew, if you manage to avoid incorrect project balances taking their toll on your mind and your body, you’re very lucky. Stress costs. It costs you sleepless nights, anxiety and even ulcers, and can impact your moods and mental health. No one, even the most experienced COO, should have to fantastize about running for the hills to be a hermit. Teams are shattered: Your teams are impacted too. They can go through the same mental and physical stress. They might be pulling all-nighters or shutting out everything else in their lives to keep the project afloat. Working relationships can be damaged. Not only are they exhausted, but they won’t be happy. And that’s going to lead to quitting or burnout. Either way everyone loses. This isn’t about pointing the finger of blame for these problems; unless real negligence is involved, people do make mistakes and unpredictable events happen. But at the end of the day, it’s you as the COO who has to take the fall and explain to the C-Suite and stakeholders why things are the way they are. Strategies to Avoid the 'Black Hole' No one wants to float around in space forever. (Except adventurous 6-year-olds). So, how can you make your life easier by cutting the possibility of incorrect project balances way back? Here are six of the most popular steps: Use the tech that’s available to you: COOs and PMs that use the most cutting-edge project management tools and software will have jobs that are a lot easier. Why? They get real-time data and analytics. They’ll get numbers that are reliable 24-7. And when things go wrong, the right tools will make automatic adjustments and recommendations for pivoting. Get agile: Agile is a word that’s used a lot, but it’s for good reason. The more agile your approach, the better you’ll be when challenges or opportunities to do something better pop up. You and your teams will be less likely to panic when things demand change, because you’ll understand that readjusting is part of any project. It’s all part of the process. And when you’re not panicking, you’ll make better decisions. Encourage a collaborative attitude: Projects don’t happen if people can’t work together. Teams that practice open communication and teamwork will mean more eyes are on the situation. Obstacles are spotted earlier. Potential solutions will be more plentiful. When everyone’s involved in project reviews, there aren’t any surprises. Learning and upskilling: This doesn’t sound like an obvious solution, but this is more of a long-term strategy. There is zero chance that if you and your team are behind the times with strategies and best practices you will operate in the most efficient way. But if you and your team are up on the landscape of IT Services and project management, you’re far more likely to enjoy the best performance possible throughout a project. Good management of risk: When your team takes the time at the top of the project to identify risks and re-evaluate throughout the course of a project, you’ll always have a contingency plan ready. That saves time and resources. And you’ll have a stronger project at the end of it. Good communication with everyone: Every single person with a connection to the project needs to be kept in the loop. All communication should be transparent and timely – even when things go wrong. Misunderstandings and mistakes can be reduced when there are regular meetings and updates. These steps will start you on the right path to better project balances. It’s a lot of work, but you’ll be able to sleep better at night. Though…there’s one thing that can bring you all these benefits with just one process. Automation and your project balances There are two things that using an end-to-end, integrated automation solution does that will improve your life in ways right now you can’t imagine. First, automation takes away the causes of incorrect project balances. There is no more guesswork in resource allocation or timeline estimation because you’ve got real time data-driven numbers to keep you on the right path. Scope creep is a thing of the past, because you’ll never lose sight of the scope. When things start to come off course a bit, you’ll know right away instead of getting a nasty shock. And risk management will be so much easier because with automation all compliance is constantly monitored, risks are identified and graded, and solutions are automatically proposed. Automation also makes communication crystal clear because it knocks down silos. Information flow is streamlined. Misunderstandings and mistakes are cut way down. Everyone’s on the same page. And when your automation solution is cutting-edge, you benefit from the best practices and most effective project management processes that will keep your project as efficient as possible. Second, because the causes of incorrect project balances are now either seriously reduced or eliminated altogether, you don’t have to worry about how they impact you and your teams. You’re free to focus on what you need to focus on, because you and your team no longer have to put out fires. And you’ll be able to take back reliable balances to the C-Suite and stakeholders, confident that you know exactly where everything is.As a COO, you put a tremendous amount of work. You deserve to have correct project balances that reflect how much effort you and your team put into projects. As with everything else, once you understand what’s behind incorrect project balances, you’re in a much better place to take the actions necessary to keep your teams and your projects balanced (and your ulcer medication at bay!). Or you could let automation do it for you. Get out of the black hole for good. 86% of consumers will leave a brand they trusted after two bad customer experiences. - Emplifi Bluefort's end-to-end subscription platform simplifies challenges, ensuring COOs like you can lead with confidence. Ready to transform your business? Schedule a Free Discovery Call today. Step out of the black hole and into clarity.
Synergies Unleashed: Elevating B2B Automation with Partnership
Nobody can be great at everything. But by partnering with the right people, everybody gets to do what they do best. And you all go forward. This fireside chat explored shifting to or integrating a subscription model. It’s a key issue right now, because there is so much money to be made. That’s why Bluefort was thrilled to host a fireside chat with our VP of Product Bjorn Kijut and United States Senior Business Development Manager EJ Harof, and Andy Park, Co-Founder of Team Central. The Subscription Model is More Than Valuable It’s actually free money. Why? One-off sales are hard to predict. So is the revenue that comes from it. But offering a subscription model for goods and services can bring in reliable revenue across the year AND boost the Customer Lifetime Value. It also boosts the company’s Enterprise value. But the problem is this – after the decision to go for a subscription model, most companies rely on a patchwork of existing solutions to handle individual parts of the subscription management process. They’re usually a mix of manual and paper and spreadsheet methods and multiple programs for management. So there will be one program for customer base, one for invoices, another for billing, one for collections and reconciliation, another for resource management and allocation, etc. Frankesteining solutions together actually strengthens silos because the already overworked teams stuck in inefficient processes now must find extra time to transition, and scale when needed. Then they must find the time to share even more data between teams. Subscription management is no joke – it's an incredibly complex thing that can only be mastered if it is simplified. We work together to help people whose migration to digitalization is completely overwhelming. After all, an excellent subscription management solution has to tackle: Automation Compliance Upselling and cross-selling Invoicing and payments Revenue management and growth Reports and forecasting Churn mitigation And that’s just the basics! It’s no wonder people feel overwhelmed. And when you're moving from time and materials to a subscription model all the challenges of the paper trail migrating to the cloud seem impossible to negotiate. That’s why our partnership is bringing decades of experience from separate spheres in the Dynamics space together to bring customers into a space where they can enjoy all the benefits that subscription and the best subscription management brings. But the problem is this – after the decision to go for a subscription model, most companies rely on a patchwork of existing solutions to handle individual parts of the subscription management process. They’re usually a mix of manual and paper and spreadsheet methods and multiple programs for management. So there will be one program for customer base, one for invoices, another for billing, one for collections and reconciliation, another for resource management and allocation, etc. Frankesteining solutions together actually strengthens silos because the already overworked teams stuck in inefficient processes now must find extra time to transition, and scale when needed. Then they must find the time to share even more data between teams. Subscription management is no joke – it's an incredibly complex thing that can only be mastered if it is simplified. We work together to help people whose migration to digitalization is completely overwhelming. After all, an excellent subscription management solution has to tackle: Automation Compliance Upselling and cross-selling Invoicing and payments Revenue management and growth Reports and forecasting Churn mitigation And that’s just the basics! That’s alot. It’s no wonder people feel overwhelmed. And when you're moving from time and materials to a subscription model all the challenges of the paper trail migrating to the cloud seem impossible to negotiate. That’s why our partnership is bringing decades of experience from separate spheres in the Dynamics space together to bring customers into a space where they can enjoy all the benefits that subscription and the best subscription management brings. Bluefort adds to the portfolio of business applications by ensuring that data is shared across everything and Team Central is the utility used to connect them. Here’s an example. A business that wants to incorporate a subscription model that has a Salesforce CRM - Years ago the solution would have been building an interface with the other system and move it forward. But now, to help the business go into production faster, a partnership like Team Central/Bluefort connects the Salesforce application to Bluefort’s LISA solution and enable the end customer to consume it as a service. They’ll be able to quickly connect the product thanks to Team Central platform. Our partnership means delivering solutions in a much faster way. We understand the complexities of the industry, and we’re getting ahead of the importance of connectivity thanks to our experience with companies like Accenture and Centric. Here’s How the Partnership with Team Central Came About The best partnerships come from companies whose services complement each other. TeamCentral was born out of a a management and IT consulting firm called Centric Consulting. They moved from one-time licensing to the SAS model with a cloud. They spotted that SAS applications in the market means an immense growth in Enterprise data. All this data is generated in silos and if the data can’t free-flow, it leads to a state of data chaos. Looking at what was out there, they realized the need to build a no code platform that can handle those complex use cases. Testing revealed the high performance and demand for their product. Their ability to create a platform that integrates data from incompatible sources is exactly what led to a partnership with Bluefort. They enable customer with incompatible applications to merge their data, which segues perfectly with Bluefort’s LISA subscription management solution. Some of the benefits of the partnership for customers: Connecting the elements of customers in the D 365 space and are reselling Microsoft products Connecting license needs from Microsoft to the partner and be able to build that straight to the customer Helping customers with subscriptions to find opportunities, boost revenue and cut costs throughout the Enterprise Giving reliable updates in real or near-real time with no code/low code It’s amazing what can be accomplished when working together. Curious? Are you intrigued by what you could gain by a partnership with Bluefort? Why not learn more here or reach out? Say goodbye to manual sales processes and boost your growth with Bluefort's cutting-edge automation solutions. Learn how our end-to-end system streamlines the end-to-end process.
Synced Solutions: Using a Partnership to Elevate Subscriptions for You and Your Customers
Bluefort is the best-key secret in the subscription management industry. And now we’re letting the secret out. Whether an organization wants to bring in a subscription model, or sell subscription management licenses and solutions in the Microsoft Dynamics sphere to others, there’s a lot to think about. Particularly at a time of so much financial instability. Those subscriptions are an excellent way of bringing a reliable revenue stream, companies don’t want to think about getting into a situation that makes their world more complex. And they don’t want to bring their own customers that complexity. The good news is that what appears to be a complex situation can be managed with ease, no matter who is using it. All that is needed is the right tools. That’s why Bluefort was thrilled to host a fireside chat with our VP of Product, Bjorn Kuijt and U.S. Senior Business Development Manager, Edward J. Harof, and Jeffrey Goldstein, the CEO of our partners Queue Associates. Are you in any of these situations? In the Microsoft Dynamics 365 world in general. Involved with Microsoft Dynamics in the Cloud, including the business application side of the house. Communities around the globe use those applications. Microsoft Dynamics users and prospects who are thinking of adding these applications to their environment. Consultants who are engaged with Microsoft users. Thanks to the AI buzz, Microsoft Dynamics has been elevated in the marketplace to a new level which is fantastic and exciting. Consultants out there can capitalize on this, which is why we’re providing you with info on SaaS applications and how they can impact the companies you’re working with to make their processes automated and efficient. Specifically, we mean subscription management which involves a billing model moving toward automation and away from legacy and manual systems that waste time and money. Want more information on how you can thrill your clients by providing them with the most advanced technology solution for subscriptions? bluefort partner Queue Associates “I can't say enough about the relationship.” There are long-term relationships, and then there are lifetime relationships. Queue has been working with Microsoft products since the DOS days in the early 80s. And they’ve been growing with Microsoft ever since. One of the things Queue’s been encouraged to do is to focus on vertical industries, and that’s where Bluefort’s solutions and the partnership have helped them focus on vertical industries anywhere they have recurring revenue. Queue Associates has always been dedicated to delivering products that help their customers go where they want to go with ease. Queue has found that Bluefort’s solution helps them compete better by enabling the focus on vertical industries that prioritize subscription management, recurring revenue, and billing. And because many clients don’t know this end-to-end subscription management solution is out there, Queue takes pleasure in guiding them through the Microsoft Dynamics 365 and Bluefort integration and how it handles lead-to-order, all the way through to payment processing and reconciliation. In other words, Queue Associates is thrilled they’re bringing something to the table that solves their clients’ problems. Why Bluefort likes to partner up with Microsoft Dynamics-loving Businesses Having a lot of experience built up over the years in business applications on Microsoft Dynamics, we’ve learned how much the solution is capable of. And businesses in that world understand that too. Dynamics offers a lot, including ERP, being able to go into manufacturing, supply chain management, financial management, project services, and project capabilities. Over time Bluefort has attached surrounding solutions to the Enterprise EAP applications, adding on CRM over the years. It makes a wider footprint and a wider fit for purpose for different departments in different types of subscription companies. This comes in handy because companies are waking up to the importance of tying customers to the business through subscriptions. What’s better is to keep on providing value to customers, underpinned by the type of service and product companies provide to their end customers. But really, it’s any subscription model. That’s where the growth has been on the Microsoft side - both moving to the cloud and making software more servitized. Manufacturers are jumping on the bandwagon too - developing a product or a piece of equipment anymore that can be sold as a one-off, but that is also ring-fenced all the way across with services with upgrades with Innovation, support and guidance in an ongoing fashion. Those kinds of business capabilities ultimately drive a much better customer experience and a much better utilization of products and services over a longer period of time. That’s where Bluefort’s solutions and partnerships come in. Having a Dynamics 365 set of applications that span all the way down to the financial back end gives the potential to boost both a life cycle and a customer experience end-to-end. In other words, it brings in certainty and stability during a time where it’s needed the most. And backing that is a rock-solid use of AI-driven data. This is especially important given the rise of AI is only going to get bigger. bluefort’s partnerships work best with businesses that recognise that the business model is changing. There’s a huge opportunity not only to broaden the customer base, but to create/lengthen the CLV. That’s an incredible chance to build long-term value and revenue streams. How Does AI and Dynamics Boost Subscription Management? It’s fun to be in the right place and right time. And this is the right place and right time to capitalise on the growing AI boom. Dynamics consultants are elevating Dynamics groups in the AI field to a much higher level. There’s a good reason for that- they’ve had the vision, the expertise and the industry knowledge to leverage that for growth for the companies they work with. They also know that given how tough it has been for businesses in high-competition industries, it isn’t just about working harder. It’s about working smarter. The need for cost-saving, waste reduction, and building revenue has never been stronger. Companies need to get tougher. They must be more efficient. That’s where software solutions come in. AI is literally there to take care of all the work. It’s a fact that Microsoft and bluefort’s software provide make companies more efficient. They rely less on humans to do the day-to-day subscription operations. So they completely cut out the costly errors and resource-wasting work so that employees can concentrate on the high-value work of building customer relationships and developing the kind of products that keep them coming back for more. Harnessing AI in the way it best works lets companies go where they want to go. Partnerships Our partners are collaborators using the solution and selling the solution to others. Both sides reap the benefits. That’s why our partnership programme has been growing so rapidly. Your level as a potential partner is based on how involved you want to be. As a Dynamics partner if you spot this as a valuable opportunity for your customer, then you can go with a referral. If you decide that's something you want to grow much further, you can be trained. And our teams will help you promote the products to your customers. That way everybody wins. You won’t be floating in space on your own. Want an Example of a Good Benefit from the Solution? A perfect example of looking at what your business has to gain by using and selling the Dynamics and bluefort integration through partnership is process automation. As we look at the landscape of a typical enterprise company running a recurring or subscription based business, it’s important not just to boost revenue, but to cut costs wherever possible. Especially in the SaaS, IT Services, Professional Services, and similar industries where the focus is more and more on profitability. Subscriptions touch multiple parts of your business. You’ve got to upsell and cross-sell in the sales department, you’ve got invoicing, billing, revenue recognition, and payment collection in the finance department, keeping that customer relationship onside in the customer service department, and continuing the development of products that keep customers coming back from more. Most subscription businesses try to get all these processes sorted by Frankensteining multiple legacy systems which aren’t integrated and don’t allow for the most up-to-date data to drive opportunities and take care of the invoicing and payment processes. Why, when all this could be handled automatically? That’s where an excellent automation solution comes in. You shouldn’t have to spend valuable time where you don’t need to. Subscriptions are not always sold directly to the end customer without procurement. When you’re a reseller of products or licenses, you need to always be aware of what your customer has bought and what you need to buy to give them that. This entire both-ways procurement can be automated so that you and your teams aren’t spending countless hours (and risking costly errors!) splitting how much you need to buy and supply for ongoing subscriptions. Through our automated solutions, you’ll be able to calculate the needs and the savings no matter how often they need to adjust to meet your customers’ needs. Certainty about what you have and what you provide can help you clearly bring value to the service, starting with a good, reliable customer relationship. And when you’re selling these solutions on, your customers will experience the same benefits for their business and customers. Everyone wins. Curious to know more? Check out the video above. Want an estimate guide? Click here. Say goodbye to manual sales processes and boost your growth with Bluefort's cutting-edge automation solutions. Learn how our end-to-end system streamlines the end-to-end process.
The Top 8 Tools to Overcome the Challenges of a Recurring Services Business
No one joins a recurring services business because it’s easy. In fact, it can feel like you’re walking a tightrope. You’ve got to deliver a top-notch service, keep those subscriptions ticking over, make sure billing runs accurately, keep your customers happy, and attract new customers too. Here are some of the biggest challenges you’re up against: Customer Retention, Support and Management: Keeping customers engaged and loyal in the most competitive era without a centralised system to help track them and their data Subscription Management: Manually processing subscriptions costs you untold money and thousands of work hours a year. Financial Management: Invoicing, payroll, and tax filing is complex and tedious, and errors cost money and compliance fines. Project Management: Keeping track of projects and monitoring progress can be nearly impossible. Team Communication: Silos, especially with the remote teams, are extremely costly and can drive up employee turnover. Reliable Numbers and Data: Without accurate numbers and the analytics that customer data can give you, you’re operating in the dark It’s a lot. But there’s good news. It all gets a lot easier when you have the right tools to smash out the challenges that keep you awake at night. Here are the top 8 tools that can help you turn things around for good: 1. Customer Relationship Management (CRM) Software When you’ve got a good CRM system, you’ve got a virtual personal assistant that boosts customer relationships. It manages customer data, tracks all interactions, and helps you improve your Customer Lifetime Value. But not all CRM systems are the same. Avoid complexity where it isn’t needed. The easier your CRM is to use, the easier it will be to scale. 2. Accounting Software The better hold you’ve got on your financial picture, the more likely you are to be successful. The best accounting software will simplify and stabilise everything from invoicing, payroll, tax filing and compliance. Flexi found that it can cut your operating expenses by up to 50% too. It cuts the risk of mistakes, and gives you numbers you can have confidence in. You can see your cash flow, profit and loss, and balance sheet at a glance. That’s how you make the best decisions possible 3. Project Management Software Project management software keeps all your projects on track with very little effort on your behalf. According to a PWC study, 77% of high performing projects use project management software. These tools allow you to assign tasks, allocate resources, set deadlines, and monitor progress. With real-time information flow, you’ll know who’s working on what, deadlines coming up, and how much work is left to be done. Your teams will be happier because there’s no waiting around, no shortage of resources, no unhappy customers, and no delays. 4. Social Media Management Tools Having a strong social media presence is a requirement, not a preference these days. But running social media, especially on multiple platforms can be a very big job. You need something that will save as much time as possible. The right tools let you or your team schedule posts, automatically engage with your audience, and analyze the performance of your content so that you boost impact and conversions. 5. Cybersecurity Software When you’ve got effective cybersecurity software, you’re protecting your business data and your customers. Which is important because the last thing you need is the financial and reputational damage caused by a data breach. The right solution will not only keep everything locked down, but will make recommendations and warn you when necessary. 6. Communication Tools It’s key to knock down all the information silos you have between teams in your company. Platforms like Slack or Microsoft Teams connect people in real-time an eliminate the time wasted chasing calls and emails. But more than that, the right tool will let information free-flow in real time - usage numbers, contract terms, payments and reconciliation - they all require the best communication possible. According to McKinsey, organizations that communicate effectively are 4.5 times more likely to retain their best employees. That’s important because turnover is expensive - it can cost 1.5 x the salary of a tech sales rep just to replace them 7. Analytics Tools There’s no point in sitting on data because when it’s used properly, it’s like gold dust. The right analytics will give you insights into customer segmentation, selling opportunities, financial forecasts - everything you need to take your company forward. According to Forbes, companies who adopt data-driven marketing are six times more likely to be profitable year-over-year. When you understand what your data’s saying to you, you can make the best long-term growth-driving decisions. 8. End-to-End Subscription Management Software An end-to-end subscription management software, will automate and secure all the important stuff for you, from sales opportunities to payments and reconciliation. It’s a fact that automation leads to growth. It saves untold manual hours, creates the best sales opportunities, avoids the risk and loss that comes with manual billing and payment collection, and boosts customer satisfaction All for a lot less effort from you and your teams. In fact, 73% of IT leaders say that automation has saved their teams 10-50% of the time they previously spent on manual tasks. You’ll also get accurate numbers, insights into customer behaviour and revenue forecasts, and complete revenue recognition. But perhaps the biggest benefit of a subscription management software is its impact on the customer and employee experience. Both will have a seamless experience that gives them everything they need with none of the hassle. And that literally is something you can take to the bank.
Subscription Quote to Order flow using Dualwrite. LISA Reach and BusinessPro.
At bluefort we focus on bringing a seamless experience for your sales and delivery team for subscription lifecycles using Microsoft Dynamics 365 applications and Power Platform applications. Let’s explore how these applications can run a quote-to-order process flow. Look at our product demo below to understand and experience how we bring this seamless experience using LISA Reach and LISA BusinessPro. Donec vitae orci sed dolor rutrum auctor. Nunc nec neque. Nulla consequat massa quis enim. Nullam vel sem. Nulla consequat massa quis enim. Cum sociis natoque penatibus et magnis dis parturient montes, nascetur ridiculus mus. Pellentesque ut neque. Donec mi odio, faucibus at, scelerisque quis, convallis in, nisi. Morbi nec metus. Sed a libero. Phasellus nec sem in justo pellentesque facilisis. In enim justo, rhoncus ut, imperdiet a, venenatis vitae, justo. Aenean imperdiet. Aenean viverra rhoncus pede. Aenean commodo ligula eget dolor. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia Curae; Sed aliquam, nisi quis porttitor congue, elit erat euismod orci, ac placerat dolor lectus quis orci. Fusce vel dui. Proin faucibus arcu quis ante. Vestibulum facilisis, purus nec pulvinar iaculis, ligula mi congue nunc, vitae euismod ligula urna in dolor. Aenean imperdiet. Aenean commodo ligula eget dolor. Duis lobortis massa imperdiet quam. Nulla neque dolor, sagittis eget, iaculis quis, molestie non, velit. In consectetuer turpis ut velit. Donec elit libero, sodales nec, volutpat a, suscipit non, turpis. [text-with-icon icon_type="image_icon" icon_image="480"] Written by Jane Doe Duis gravida nunc nibh mauris bibendum sed donec aenean. Lectus tellus vulputate montes, erat vel parturient. [/text-with-icon]JTNDc3R5bGUlMjB0eXBlJTNEJTIydGV4dCUyRmNzcyUyMiUzRSUwQSUwOS5vdXRsb29rLTM2NS1pZnJhbWUlMjAlN0IlMEElMDklMDloZWlnaHQlM0ElMjAyMDAwcHglM0IlMEElMDklN0QlMEElMEElMDklNDBtZWRpYSUyMHNjcmVlbiUyMGFuZCUyMCUyOG1pbi13aWR0aCUzQTE1OTFweCUyOSUyMCU3QiUwQSUwOSUwOS5vdXRsb29rLTM2NS1pZnJhbWUlMjAlN0IlMEElMDklMDklMDloZWlnaHQlM0ElMjAxNTAwcHglM0IlMEElMDklMDklN0QlMEElMDklN0QlMEElM0MlMkZzdHlsZSUzRQ==[tabbed_section style="minimal_alt" alignment="center" spacing="default" tab_color="Accent-Color" cta_button_style="accent-color" icon_size="24"][tab icon_family="fontawesome" title="Contact Us" id="1659971862466-9" icon_fontawesome="fa fa-envelope-open-o" tab_id="1659971862467-2"][/tab][tab icon_family="fontawesome" title="Set Meeting" id="1659971862493-4" icon_fontawesome="fa fa-calendar" tab_id="1659971862494-0"]JTNDaWZyYW1lJTIwY2xhc3MlM0QlMjJvdXRsb29rLTM2NS1pZnJhbWUlMjIlMjBzcmMlM0QlMjJodHRwcyUzQSUyRiUyRm91dGxvb2sub2ZmaWNlMzY1LmNvbSUyRm93YSUyRmNhbGVuZGFyJTJGYmx1ZWZvcnQxJTQwYmx1ZWZvcnQuZXUlMkZib29raW5ncyUyRiUyMiUyMHdpZHRoJTNEJTIyMTAwJTI1JTIyJTIwc2Nyb2xsaW5nJTNEJTIyeWVzJTIyJTIwc3R5bGUlM0QlMjJib3JkZXIlM0EwJTIyJTNFJTNDJTJGaWZyYW1lJTNFClick the button below to open up my calendar and find the right date and time for us to have a chat.[/tab][/tabbed_section]
The Top 8 Tools to Overcome the Challenges of a Recurring Services Business
No one joins a recurring services business because it’s easy. In fact, it can feel like you’re walking a tightrope. You’ve got to deliver a top-notch service, keep those subscriptions ticking over, make sure billing runs accurately, keep your customers happy, and attract new customers too. Here are some of the biggest challenges you’re up against: Customer Retention, Support and Management: Keeping customers engaged and loyal in the most competitive era without a centralised system to help track them and their data Subscription Management: Manually processing subscriptions costs you untold money and thousands of work hours a year. Financial Management: Invoicing, payroll, and tax filing is complex and tedious, and errors cost money and compliance fines. Project Management: Keeping track of projects and monitoring progress can be nearly impossible. Team Communication: Silos, especially with the remote teams, are extremely costly and can drive up employee turnover. Reliable Numbers and Data: Without accurate numbers and the analytics that customer data can give you, you’re operating in the dark It’s a lot. But there’s good news. It all gets a lot easier when you have the right tools to smash out the challenges that keep you awake at night. Here are the top 8 tools that can help you turn things around for good: 1. Customer Relationship Management (CRM) Software When you’ve got a good CRM system, you’ve got a virtual personal assistant that boosts customer relationships. It manages customer data, tracks all interactions, and helps you improve your Customer Lifetime Value. But not all CRM systems are the same. Avoid complexity where it isn’t needed. The easier your CRM is to use, the easier it will be to scale. 2. Accounting Software The better hold you’ve got on your financial picture, the more likely you are to be successful. The best accounting software will simplify and stabilise everything from invoicing, payroll, tax filing and compliance. Flexi found that it can cut your operating expenses by up to 50% too. It cuts the risk of mistakes, and gives you numbers you can have confidence in. You can see your cash flow, profit and loss, and balance sheet at a glance. That’s how you make the best decisions possible 3. Project Management Software Project management software keeps all your projects on track with very little effort on your behalf. According to a PWC study, 77% of high performing projects use project management software. These tools allow you to assign tasks, allocate resources, set deadlines, and monitor progress. With real-time information flow, you’ll know who’s working on what, deadlines coming up, and how much work is left to be done. Your teams will be happier because there’s no waiting around, no shortage of resources, no unhappy customers, and no delays. 4. Social Media Management Tools Having a strong social media presence is a requirement, not a preference these days. But running social media, especially on multiple platforms can be a very big job. You need something that will save as much time as possible. The right tools let you or your team schedule posts, automatically engage with your audience, and analyze the performance of your content so that you boost impact and conversions. 5. Cybersecurity Software When you’ve got effective cybersecurity software, you’re protecting your business data and your customers. Which is important because the last thing you need is the financial and reputational damage caused by a data breach. The right solution will not only keep everything locked down, but will make recommendations and warn you when necessary. 6. Communication Tools It’s key to knock down all the information silos you have between teams in your company. Platforms like Slack or Microsoft Teams connect people in real-time an eliminate the time wasted chasing calls and emails. But more than that, the right tool will let information free-flow in real time - usage numbers, contract terms, payments and reconciliation - they all require the best communication possible. According to McKinsey, organizations that communicate effectively are 4.5 times more likely to retain their best employees. That’s important because turnover is expensive - it can cost 1.5 x the salary of a tech sales rep just to replace them 7. Analytics Tools There’s no point in sitting on data because when it’s used properly, it’s like gold dust. The right analytics will give you insights into customer segmentation, selling opportunities, financial forecasts - everything you need to take your company forward. According to Forbes, companies who adopt data-driven marketing are six times more likely to be profitable year-over-year. When you understand what your data’s saying to you, you can make the best long-term growth-driving decisions. 8. End-to-End Subscription Management Software An end-to-end subscription management software, will automate and secure all the important stuff for you, from sales opportunities to payments and reconciliation. It’s a fact that automation leads to growth. It saves untold manual hours, creates the best sales opportunities, avoids the risk and loss that comes with manual billing and payment collection, and boosts customer satisfaction All for a lot less effort from you and your teams. In fact, 73% of IT leaders say that automation has saved their teams 10-50% of the time they previously spent on manual tasks. You’ll also get accurate numbers, insights into customer behaviour and revenue forecasts, and complete revenue recognition. But perhaps the biggest benefit of a subscription management software is its impact on the customer and employee experience. Both will have a seamless experience that gives them everything they need with none of the hassle. And that literally is something you can take to the bank.