Order processing and management is a general process that either requires the automation of software or great employees. Many businesses choose to rely on employees to manage and process their orders and talk to customers. However, in an age when customer loyalty is lower than ever, that might present a challenge.
According to American Express, a single instance of poor service is enough for 33% of customers to switch to a competitor. For two or more instances, the percentage goes up to 60%. Unfortunately, for many businesses that do have order processing and management processes, it is inevitable to make mistakes sometimes. And most of those mistakes come back to data quality and human error. Let’s have a look at the effects of data quality in order processing to understand this issue better:
Order Processing Mistakes Cost You
With manual data entry as part of your internal procedures, you’re opening your business to costly mistakes. According to UNLV research, reading data to spot mistakes or visually comparing the records won’t reveal if a manual entry error has been made. And in most cases, once it’s been made, it is already too late. Considering how quickly a customer will switch to a competitor in case of less than ideal service, it becomes clear why having accurate data from the start is so critical.
The costs of bad data in order processing aren’t limited to the potential of losing business. A poorly processed order incurs other costs — most frequently, the Undeliverable As Addressed fee. If your business regularly has to pay for these, it might be time to reconsider your current order processing practices.
How Much Can Quality Data Improve Order Processing?
On the other hand, businesses are sometimes reluctant to implement processes and solutions that will improve the quality of their data and the efficiency of their order processing and management. The question that they need to answer is whether it’s worth it. How much can quality data improve order processing, and will that impact the bottom line?
The reality is that on top of the decreased costs that come from eliminating low-quality data in order processing, there are even more benefits to implementing solutions that automate order processing for you. A business doesn’t need as many employees to handle order processing when it is largely automated. From automatically validating your customers’ contact data to order confirmation and tracking, using software opens up possibilities for your business while helping you streamline the number of employees your business needs.
Quality Data for Order Processing
It all starts with accurate customer data, and Runner EDQ’s software integrations solutions like CLEAN_Customer can be an immense help when trying to secure enterprise data quality for your business. Automatic address validation will eliminate the possibility of data input mistakes, ensuring that your order processing goes smoothly every time.
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