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4 Incredible Benefits of Using CRM

July 21, 2020 - by mindadmin

With a massive amount of data being floated today, accountants need a more robust system to manage this overflow of data. And, spreadsheets don’t make the cut anymore. There is a need for CRM software not only for better customer relationships but also for efficiency and better data management. Here’s why accountants should consider using a CRM over spreadsheets.

 

  • Sophisticated Filtering and Segmentation

Do you know how Excel shows slices of your data based on specific criteria? Well, so does CRM. The only difference is that unlike Excel, with a CRM system, you can use advanced filtering for diving deeper into your data. You can even save these filters and re-visit them later.

 

  • Reporting and Forecasting Time-Consuming and Painful with Spreadsheets

When it comes to reporting, Excel can be a real head-scratcher. Even though it allows the opportunity to segment the data, it cannot provide forecasts. With spreadsheets, accountants have to apply their experience and manipulate the data based on their gut on what the numbers are going to be.

This is where a CRM system takes the wheel. It can not only help you stay on top of your data and give you a better analysis, but it can also give you higher visibility that can help you deal with future risks.

 

  • Then there is a Lack of Automation

In today’s world full of disruptive technologies, you can either be the one who beats automation or the one who gets thrown out.

Excel has been around for ages, and there hasn’t seen much automation or innovation. But, CRM on the other hand, is being steadily worked upon, which is why with CRM, you can take care of workflow management, approval processes, task scheduling, escalations, etc., thereby saving your team members a ton of time and effort.

 

  • You may End Up with Scattered Information & Compromised Data Integrity

Scattered information is perhaps the most significant disadvantage of Excel. With multiple users tapping in at the same time, it is easy to end up with several copies of the same file. Additionally, with numerous copies and no audit trails, maintaining consistency and integrity of data is almost impossible.

The problem gets heightened when internal teams use multiple platforms for storing customer data. It not only results in inconsistent data but also impacts the team’s overall efficiency.

 

Data May be Slipping Through the Cracks – It’s Time to Switch to CRM

Excel is a powerful tool, but it has a lot of limitations and may even be doing more harm than good for accounting firms. Accountants may end up draining their resources, but switching to CRM is a possible solution to this problem. The various advantages of CRM over spreadsheets will ultimately strengthen your bottom line. So, if your accounting firm is using excel over CRM, it’s time to upgrade to a modern cloud-based CRM for all the reasons mentioned above.

So, move towards efficiency, automation, and data security, move towards CRM.