Cost of Labour – A smaller workforce, which requires a certain degree of expertise, is needed to operate the automated system as opposed to manual labour. c. Storage Space and Material Cost – Most information in a computerized system is stored in the system server, system database, or CDs, as opposed to the conventional paper documents and storage space which may be costly. 2. Customer Relationship Management (CRM) Details of new customers and their purchases are integrated into the customer database for CRM purposes. These details are retrieved and automatically updated when the next purchase takes place.
This helps Especially for You identify existing customers and buyer behaviours as well as the latest and upcoming trends to cater to the current demands of society. 3. Inventory Control / Ad Hoc Reporting The system can be programmed to produce sales and other reports such as monthly sales reports, invoices, receipts, a list of outstanding balances and more if such a need arises. For example, the system may be programmed to issue an invoice for each received payment that has been recorded, with a soft copy of that invoice documented for future reference.
These reports are used to evaluate the profitability of specials and to effectively track account receivables. 4. Increased Customer Satisfaction The computerized system creates a prompt and responsive service while the customer service department provides extensive support and information, creating greater satisfaction among customers. A satisfied customer retains loyalty and this, in turn, increases the sales revenue and profitability of the entire organisation over time. 5. Improved Staff Morale
The Essay on Accounts Receivable Customer Information Invoice
... allows you to better control sales functions. If a customer is on credit hold, sales orders and / or invoices will automatically be placed on ... on demand. Each day, invoices, credit memos and payments are entered into the system. This will keep all customer accounts current; therefore, all ...
Personnel who are operating the new direct sales and accounting systems may experience a morale boost when presented with the opportunity to learn something new. 6. Distribution via the Internet The system gives the company the opportunity to expand globally via the Internet, reaching new markets worldwide. Online purchases via highly interactive websites have increased tremendously since the implementation of computerized systems and have contributed to much of its total revenues.
Tracks and retrieves details such as customer particulars and purchase information, of every transaction attributing a unique transaction code to each transaction. New customers are given a new slot in the database whereas existing customers are sorted according to attributed transaction code. 2. Calculates the profit/loss margin of single transactions by obtaining necessary cost data from the inventory system, and daily profit and loss reports are produced at the end of the day at a greater processing speed and higher performance level. . Builds a customer database that allows complex searches to be conducted by returning results of existing transactions that match the keyword in the database to assist management in preparing special mailings and sales. 4. Processes greater amounts of activities simultaneously without degradation. 5. Programmed to print specific reports such as monthly sales reports or list of outstanding accounts when such reports are needed. 6. Provides point of sales application that is integrated with the inventory management system.
