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‘One true source’ of information – how streamlining data will grow your business

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‘One true source’ of information – how streamlining data will grow your business

Modern day service software systems will deliver incredible savings to companies that implement them.

At Thrive, we’ve been implementing service software solutions for businesses for as long as we can remember. And we’ve started to develop a picture of just how much money a business can save by having effective software solutions in place that help you run your service business.

Let’s start with customer service…

Firstly, your customer service satisfaction will increase by at least 10 to 20%, and the fact that you’re able to get back to customers immediately  will enable you to do their work better.

You’ll be quicker, more accurate and be able to address more issues and queries. Not only is this a massive way to promote reputational change, it’s a way efficiently deal with a part of the business that traditionally always causes headaches.

Whether you’ve heard of the term before or not, businesses need to be changing the way they operate.

I want to describe a very common situation that Thrive often comes across. A business will come to us with a problem; ‘We keep blowing out our project costs because accounts is reading one set of data and the rest of the business is reading another set of data. Everyone is on a different page’.

In this scenario, who has the right data and who has the wrong data. Heck, maybe they’re both reading and analysing the wrong data.

We call this having ‘one true source’ of information. It’s ensuring that every department, every employee and every decision maker has access to the exact same data set. And more importantly that they have access to correct data.

Streamline data!

It’s a matter of streamlining the way information is collected and ensuring that it is collected in a way that is interpreted the same by everyone.

Imagine you’re a construction company and the accounts department is dealing with data that is even slightly different to the data that the project managers are dealing with. Assessing the profitability of a project becomes almost impossible.

We see businesses go bust because costs that were not accounted for suddenly creep up and there isn’t enough money in the bank to deal with it. Or alternatively there is money in the bank and you think everything is looking great, until unaccounted costs suddenly smash the business.

The solution is easy.

It’s a matter of implementing a software solution that makes data collection and accountability easy. We work with businesses on a daily basis that rave about how simple the solution is to a problem that has plagued their business for years.

Become accountable, accurate and most importantly…profitable

Transparent businesses are businesses that can enact change with ease. If you have access to data that is correct, you have the ability to make changes on the go that could mean the difference between a highly profitable project and a highly unprofitable one.

You’ll be quicker, more accurate and be able to address more issues and queries. Not only is this a massive way to promote reputational change, it’s a way efficiently deal with a part of the business that traditionally always causes headaches.

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