If you're struggling to provide smooth, positive customers experiences (CX) and you're not all on your own. In North American companies, 76 percent of them cite CX as their most important key performance indicator, yet only 16 percent believe they're able to deliver top-quality CX as per the findings of a Dimension Data industry study. There are many factors that contribute to creating outstanding customer service, but the most prominent of the CX priority list is billing, which includes the invoicing process, collection of payments as well as all inquiries from customers that are related to these tasks.
Although businesses may try to make positive experiences for customers around billing, they usually fail. The cause is usually an older system that is back-of-house (enterprise resource management) or similar financial management software that's not designed to work with the modern CX. These systems are usually not able to provide seamless payment options for customers that allow customers to use an online self-service portal to view their status on payments or even let the customer service team access and analyze customer billing information. The older ERPs are also not adept in controlling recurring revenue operations properly and properly applying discounts. In the end, the billing CX experience suffers. Customers don't have the ability to select the choices for payment and the configurations they'd like, and billing errors result in unhappy, frustrated customers. Enroll for the Salesforce billing training to learn more and become an expert.
Fortunately, these flaws can be fixed by the integration of Salesforce Billing with your existing ERP. Salesforce Billing is designed from scratch to deliver polished and high-end CX that customers demand from their transactions with their billing. In addition, Salesforce Billing seamlessly draws on extensive customer data from the main Salesforce CRM system and provides a seamless interface to the CRM system, but Salesforce Billing also offers a modern CX that could replace the clunky and inefficient billing workflows that are traditionally controlled in your ERP. Let's take a look at the four main benefits of connecting Salesforce Billing with your ERP:
Receive your money sooner
Many businesses experience delays when receiving payments because of poor workflow processes. Maybe their ERP can't create invoices in a reliable manner or in orderly batches. Perhaps the payment collection process is happening later in the life cycle of sales transactions rather than when it is supposed to be. To solve all of these issues, Salesforce Billing is the solution. Salesforce Billing supports Dunning collection procedures that are the top-of-the-line payment collection method. With easily customizable Dunning procedures, Salesforce Billing can automatically manage tasks like paying past due balances on invoices or generating invoice batches that are able to incorporate collections, write-offs treatments along, with late charges. Salesforce Billing comes with tools that can help businesses comprehend invoice information, like a time-based overview of the balance on an account. In the end, payment can be processed more efficiently and quickly, which allows businesses to be paid more quickly.
*Eliminate billing discrepancies
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The older ERPs typically struggle to manage complex billing processes like periodic payments credit, payment schedules, payments, and discounts. The problems get worse when the ERP uses information from Salesforce CRM to complete billing-related tasks, such as the creation of invoices. The cause of these issues is often a misalignment in CRM's data and billing-related products the ERP creates using this information. Salesforce Billing can take over management of some or all these key billing functions--invoicing, payment collection, and even revenue recognition and accounting--eliminating the possibility of misalignment. Importantly, Salesforce Billing can seamlessly transmit financial report information into the ERP for general-ledger posting as well as other activities related to financial management.
Access to more the sales transaction data
Traditional ERPs are usually utilized exclusively by the finance team. This is because these ERPs aren't designed to allow other departments, including sales and fulfillment, as well as customer service teams, to quickly retrieve information, analyze, and update the financial records of customers. Therefore, the information about sales transactions inside ERPs isn't available to other teams that require it to fulfill orders and address customer concerns regarding the orders. Salesforce Billing is an easy way for non-finance departments within the company to easily access data on sales transactions. This accessibility will ensure that the teams are better equipped to assist customers efficiently.
Give customers more options to pay
Many ERPs offer a few strict payment choices for payment. Salesforce Billing allows customers to pay as they want via either ACH transfers or credit cards through a one-time or a pre-planned payment. With the flexibility that customers have and choice, they will be more inclined to make their payments in full and on time and without the need for the business to issue reminders or add on late charges. This means that Salesforce Billing is a win-win proposition for both the company and the customers.
Salesforce Billing can be a tool that can simplify, automate and improve the workflows of your ERP. The integration of Salesforce Billing with your ERP will allow you to process payments faster to eliminate billing discrepancies and errors that require a lot of resources to correct, allow the teams within your company access to the sales transaction information, and offer flexible and user-friendly methods to clients can settle their bill.
Simplus is able to assist businesses in making the most of Salesforce's integration with ERP. To find out the ways Simplus has helped a software firm remove silos in its sales process and build an operating environment that was more interconnected, take a look at the Simplus case study of the Cura corporation.
Suppose you're looking to integrate Salesforce Billing with your ERP. Contact Simplus's experts in implementation. Simple. We're eager to help you get the most benefit for both of these systems.
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