Spreadsheets – they’re great, right? There’s certainly something pleasing about scrolling through a pristine spreadsheet, full of numbers that are all perfectly aligned and operational functions.
The problem is that spreadsheets rarely match this idyllic description. Huge amounts of data, changes to formulas, moved columns and data entry mistakes can all lead to spreadsheets that don’t work properly, take forever to load and which provide inaccurate information.
This is often the case when spreadsheets are used in O2C functions. Let’s face it: tracking customer details and interactions is just too much for a spreadsheet to cope with – no matter how good you are at setting them up.
With so much that can go wrong with a spreadsheet, businesses need to understand that there are better alternatives – and the sooner you can implement these options, the better it will be for your company, your DSO, your team and your customers.
The problem with spreadsheets
For small businesses that are just starting out, a spreadsheet might seem like the ideal option for tracking information like customer contact details, sales data and outstanding invoices.
We get it. You only have a small number of customers to keep track of, and spreadsheet programs like Microsoft Excel and Google Sheets are cheap and accessible.
The problem is that it doesn’t take long for even a simple spreadsheet to get out of hand – especially when you’re using it to track complicated information. Anything more than just a few sets of numbers, and you’re going to have difficulties, such as:
- Slow-loading spreadsheets.
- Data mistakes.
- Difficulties tracking historic information.
- Functions that result in errors, or incorrect results.
- Difficulties sharing and updating information.
- An inability to record non-numerical information.
What’s the alternative?
If you’re looking for a better way to manage your data, then it’s time to look into specialist tools like OnGuard credit management software.
OnGuard provides a central repository for all of your data, making it easy for you to keep information up-to-date, access the details you need and share it with the rest of your team.
The software also simplifies report generation and allows you to turn raw data into useful insights that can help you spot trends, track progress and compare results with historic data.
Specialist software also provides a range of tools to help you streamline your workflow. Automated data entry can save time and reduce errors, automated correspondence can simplify customer communications and reports can be generated with a few clicks.
Another benefit is that specialist credit management software can help you to segment your customer base, allowing you to tailor your approach and achieve the best results possible.
Turn your customers into brand advocates
Instead of turning your customers into spreadsheets, the right software can help you to build strong relationships and provide a high level of service – and this can result in an increase in customer loyalty and may even encourage referrals.
What’s more, systems like OnGuard credit management software can also contribute to improved cash flow and a reduced DSO, all of which are positives for any business.
Find out more
To find out more about how OnGuard can improve your O2C process and help you turn customers into brand advocates instead of numbers on spreadsheets, please get in touch today via +31 (0)294 25 6666 or email@example.com. You can also keep up to date by following us on Twitter @OnGuardHQ.