- 9:17 am By Sandler
Significance of CRM
All companies will have to devise certain organizational strategies for their successful existence, especially, in this competitive market environment. Devoid of such an approach, organizations will find it hard to resist the competition and soon will have to face the consequences, which ultimately will pave the way for their downfall. The foremost of these strategies is a perfect way to manage their customers in a rewarding manner. Here comes the importance of a professional Customer Relationship Management (CRM). Nevertheless, it is equally important that organizations must seek the help of professional companies, which are specialized in the creation of such software.
Zoho CRM for Small Business – Best for Small and Medium Businesses
When there is a professional system for CRM, organizations will be able to thrive considerably. Customers are the real backbone of all organizations, and without the full support from them, companies will not be able to achieve their set goals. A proper CRM system will get rid of the lethargy that might have crept into the organizational system that manages the customers. This will automatically trigger the growth of the organization, as the customer will become very much loyal to the company. However, it is imperative that businesses should draft a suitable CRM that goes well with the various functions of the company.
In our time, there are numerous kinds for software’s, which carry out these functions effectively and at low cost. Zoho is one such system, and this company that competes with the various giant companies in the same field has already captured a sizable market share. This is mainly because of the high success of the system and the minute adaptation that makes it worthwhile for even very small establishments. The company initiated some key tactical approaches for making their product powerful. This includes the supremacy of the overall functionality as compared with the other competitors, the range of the options given to the customers, the easiness of operation, and the full-fledged support given to the customers. Thus, the company was able to float a practically effective CRM for small business, and this has earned the approbation of the customers from all parts of the globe.
Choose a Functional CRM
The only thing that the company management must make sure while searching for an effective CRM for small business is to approach a specialized Zoho consultant company. The company must have relevant experience in creating exclusive CRM for small business, and it is easy to find such consultants. The CRM system must include an exclusive help desk for your clientele, an effective email marketing platform, and a handy chat feature. For selecting a proper CRM provider company, you must take the reviews of the existing customers into consideration. You can also compare the offered services and the cost with the other competitors.
4:03 am By Sandler
CRM is Significant in Today’s Business Environment
Small and medium-sized businesses are quite different from the large-scale players in all matters that pertain to the operational aspects of businesses. Large business houses will not have any dearth of financial capital or the other required resources for effectively tackling the snags that are par for the course of the organizational management. Small business will not have that much financial stability or the ability to garner the various other resources. Hence, it is imperative that such establishments must use all the possible ways to successfully combat and corner the possible snags. Options are plenty in our time; the only thing to take care is to get hold of an appropriate partner for the same.
Using a bespoke CRM system is a way to tackle the operational challenges effectively. By this way, companies can stop the erosion of existing customers and put a block to the decline in sales outrightly. Businesses can generate maximum revenue only when the customers become loyal and remain with the company. CRM provides a dynamic data collection method for the organization, which will be totally user-friendly and easily manageable. Consequently, it will be practically good for all similar types of organizations to make use of the effectiveness of systems like Zoho, which provides customer relationship management for small business establishments. The best way to procure such a software system is to hire the expert services of a best Zoho consultant company. A short internet search will give you the web address of such firms.
Why Customer Relationship Management for Small Business is Important?
• Preserve the Relevant and Significant Customer Data: This is the prime factor that denotes the pragmatic significance of effective CRM software. Companies will be able to preserve all the pertinent data, regarding their clients. This will help the management to have worthwhile interaction with the customers. They can also have a complete history of the individual customers, as regards their transactions with the company.
• Beneficial to the Company: There will not be any need for the company to employ special-workforce for tracking the customer data. This practically means that the company concerned can save the money and manpower, needed for the same. This also gives the management the leeway to utilize the saved funds and manpower for other productive works.
• Sales Augmentation: Perfectly performed CRM enables companies to foresee clearly the needs of the customers and can define the needed activities and plan beforehand. This will certainly increase the sales revenue. The management can also comprehend the depth of the loyalty of the customers and can rightly categorize the profitable customer segment.
• Customer Retention: When the company is aware of the practical requirements of the varied customer segments, it can devise the organizational strategies in accordance with the available data. This will satisfy the customers, and they will become loyal. Thus, the company can achieve highly desired customer retention.
• Attract New Clients: Company management can have fruitful interactions with the customers, both with the existing and potential. This can be in the way of email letters, or e-brochures, or something of that sort. When there is an operational email system, then the company will become successful in sending their present and the imminent product details straight to the customers. This is a pragmatic way to increase the strength of the clientele.
• Worthwhile Interaction: Companies will be able to respond to the doubts and other inquiries and take the required actions swiftly.
• Proper Accounting: An ingeniously created CRM tool will help the company to have a proper check on the accounting system. The incorporated system will take care of the bookkeeping procedures, and the company finance officers will not have to bother about manually tracking the varied incurred expenses, including the miscellaneous expenditures.
All the points above clearly indicate the necessity of having a perfect customer relationship management for small business. Having said that, for having a flawless CRM system, companies should contact a professional provider company, which possesses thorough knowledge regarding the latest technology and the related tools.
5:54 am By Sandler
What is the Offshore Voluntary Disclosure Program?
According to the IRS, the Offshore Voluntary Disclosure Program (OVDP) is “a voluntary disclosure program specifically designed for taxpayers with exposure to potential criminal liability and/or substantial civil penalties due to a willful failure to report foreign financial assets and pay all tax due in respect of those assets.” In other words, the OVDP allows people who haven’t previously disclosed their offshore assets to the government to do so, and get in compliance with US tax laws.
Who is eligible?
In order to be eligible for the Offshore Voluntary Disclosure Program, applicants must meet the following criteria:
1) The applicant has invested legal source funds in the undisclosed assets – that is, funds derived legally, not from criminal activity
2) The applicant has not made a submission pursuant to a streamlined procedure
3) The applicant is not under civil examination or criminal investigation by the IRS
People from all walks of life and professions can apply for the Offshore Voluntary Disclosure Program, and the benefits are many. Most importantly, the OVDP allows people who intentionally did not disclose their offshore income and assets to the U.S. government to avoid high fines and legal penalties. Remember that old saying: “Nothing is certain but death and taxes?” Even if you’ve been successful in avoiding the sticky fingers of the IRS, chances are, not disclosing your offshore assets and income to the American government is not something you’ll be able to get away with for long. And if you’re caught in non-compliance with U.S. tax laws, the penalties can be steep, and they may even include charges of tax fraud and a stint in the big house.
Why was it implemented?
The OVDP was developed in order to encourage people with offshore income and assets to report that income to the U.S. and get in good standing with the IRS. In an exchange for taking part in the Offshore Voluntary Disclosure Program, participants won’t be criminally prosecuted, and any tax non-compliance older than eight years is forgiven.
What Are the Requirements to Participate in the OVDP?
In order to participate in the Offshore Voluntary Disclosure Program and avoid criminal prosecution or high fines for non-compliance, participants must do the following:
1. File or amend up to eight years of tax returns
2. File or amend up to 8 years of Foreign Bank Account Reports (FBARs)
3. Pay back any taxes, interest, and penalties owed
4. Pay a penalty ranging from 27.5% to 50% on the highest value of unreported assets
5. Complete a variety of questionnaires
While these requirements may sound steep, participating in the Offshore Voluntary Disclosure Program can also help you avoid much more serious consequences, from investigation by the IRS to the seizure of your assets, to prison time. If you’ve been in non-compliance with US tax law, it’s crucial that you contact a lawyer that specializes in OVDP and international tax law in order to remedy your relationship with the IRS. The OVDP is designed to provide U.S. taxpayers who are in non-compliance with protection from being held criminally liable for their actions, as well as with a way to resolve their civil tax and penalty obligations.
Since the Offshore Voluntary Disclosure Program was launched in 2009, more than 56,000 taxpayers have participated in the program and have complied voluntarily to resolve their non-compliance issues.
Consult a Lawyer, and Act Fast
International tax law can be very confusing; different countries have different tax laws, and staying in full compliance with that country’s and U.S. laws may seem complicated. If you think, however, that you’re a candidate for the Offshore Voluntary Disclosure Program, your first step is to contact a professional tax lawyer who specializes in OVDP and international tax law. He or she will be able to walk you through the process, making sure that all your forms are filled out properly and on time and that you are meeting the requirements of the program in full.
But you need to act fast. Last March, the IRS announced that it planned to end the Offshore Voluntary Disclosure Program on September 28, 2018; the IRS has decided that the program has fulfilled its mandate to help taxpayers come into compliance with US tax laws. Fortunately, those who haven’t participated in the OVDP as of yet may have other avenues available to them to settle their accounts with the IRS, but it’s crucial that they act swiftly to avoid hefty, even life-altering consequences.
10:56 am By Sandler
A great set up in your office or any other construction offers great functionality as well as comfort to the employee. It is in fact need of today’s age. Comfortable and bespoke set up system is needed to extract best from employees as poor system has more demerits to its credit that affects performances of employees which eventually results in the irritating results.
Amongst various set up, call center set up system is the one that not only involves months to build but also involves extravagantly spending of money. Even a minute negligence can cost big amount along with wastage of time. If you aim on establishing Call Centre System for your business, do not just go for it in haste as your money and time are valuable. Be little patient and get started with some grounding work to achieve the desired and best results.
To guide you with some result oriented tips that must be emphasized upon while thinking of establishing the call center system for your business, we bring you some guidelines-
● Planning – Before you start withdrawing money from your bank, we advise to lay blueprint for the projects to be commenced along with estimation of investments to be made. In the absence of proper and effective planning even large investments falls flat. Invest your time to ensure control over damage to business.
1. Primarily- figure out the budget for your venture and the amount you will be supposed to pay regularly for operations at call center. Inbound call tend to rely upon their conduct and profit while outbound call centers offers results in terms of leads and sales. It is vital to work upon the income in initial days too to have smooth run of business as well to save yourself from the hardships of no refunds or returns.
2. Decide whether you will have virtual or onsite set up- An onsite call center means that you will have to bear the cost of necessary hardware, software and infrastructure installation for your business. It turns out to be expensive and slow affair along with needing space for the office, proficient team and funds in bulk. While in virtual except hardware and recruitment, rest all needs of set up are catered by service provider. Work out comprehensively the kind of set up will be lucrative for you.
3. Lay out the objective of your call centers that will facilitate Key performance indicators. KPI’s too can be many, just go through which sections to work upon initially.
● Installation of right tools in the call center – It is highly important to procure the best results
1. Choose the suitable phone system as per your need, staff, no of internet connection and any plan for expansion in future. Pick out of the two virtual or onsite phone system as rest of the things depends upon kind of phone system you chose.
2. Multiple service channels – Your customers should be able to approach your call center over other channels too and for that development of omnichannel strategy is suggested.
3. Support desk – If you are having inbound support call then keeping the track of conversation between customer and staff is important. Suitable help desk software can be beneficial for this aspect of contact center.
4. Performance monitoring software – Corrective measures helps to improve the operations at all business which are possible only after monitoring the performances of employees. Performance monitoring software is the need to keep check on the efficiency of your staff.
5. CRM solution – Choose the ideal customer management system that goes well with the objective, habits of your working team and off course the customer’s requirements.
6. Internal communication system – Selection of best and latest installation would benefit you only as good internal communication system reduces the time and money wastage.
This is vital as your team selection will decide your success.
1. Estimate the strength of staff needed and also number of agents. Your size of employees also decides the infrastructure, phone system, office space and much more.
2. Recruitment criteria- the better you recruit, the best the results would be. Structure a recruitment process to have best employees.
3. Training programmed for fixed span- Training to fresher as well as to old employees to keep them attuned with latest technology and trends is necessary to save time and money. You can also expect immediate results soon after training.
4:14 am By Sandler
Starting a new business! It can be exhilarating to see your dream put into action. But most experienced entrepreneurs will tell you, the initial stages of starting a business might not be smooth run for many. Things can come crashing unexpectedly if you are not prepared.
Here are some common mistakes you need to avoid when starting a business.
1. Don’t Get Bogged down by Failures
One of the reasons why many people fail to become entrepreneurs is they are afraid of failing or don’t know how to open up a business without stumbling. You need to treat your failure as a learning curve. You can learn good lessons even from your failures. However, you need to understand how these mistakes happened, what the result was and how you dealt with failure.
It might be disheartening when things don’t work as planned but you need to be more careful next time.
2. Don’t Be Afraid of Trying New Things
It’s a fact of life- Not everything will work as planned. But you may never know what will work and what won’t unless you have tried. So never fear about experimenting or trying new ways. The worst thing that might happen is the idea will not take off. But what if it does?
Trying new things will improve your confidence and you will be surprised by your own potential. Always remember you have started a business for some purpose and you have to keep on reinventing yourself throughout your entrepreneurial journey.
3. Don’t Try to Imitate Others
It is a big mistake committed by entrepreneurs which lead to failures. They see other entrepreneurs and follow them either through admiration or envy which is not the right thing to do. This is a sure-fire way to fail because you don’t know the complete story behind other entrepreneur’s success. You won’t be able to keep up and eventually fail.
You should believe in yourself, your idea and try to be unique. If you want to be a successful entrepreneur, develop your own style, cultivate a new idea, reinvent and you will see people following your footsteps.
4. Don’t Hesitate to Ask for Advice or Help
Networking is very important in business and don’t think of doing everything alone. If you look at the greatest entrepreneurs and research about them, you will know they were mentored by someone who had better knowledge and understanding about business.
Do you know Mark Zuckerberg, founder of Facebook turned to Steve Jobs for advice during his early days as an entrepreneur? According to an interview published in Business Insider, it was Steve Jobs who advised Mark Zuckerberg to visit India that reaffirmed his sense of Facebook’s mission.
You might not have Steve Jobs by your side but you can always seek a mentor and get his valuable advice and learn a lot about business from him/her. Having someone to guide you, give good advice and that timely encouragement could make a difference in your entrepreneurial journey.
Don’t be afraid of learning from other person’s mistakes. And more often, mentors are happy to share about their ups and down from their entrepreneurial journey that will give you knowledge which might not be available in books.
5. Don’t Forget to Maintain Work-Life Balance
Starting a business is never easy and the initial period is difficult for many entrepreneurs. Balancing your work with your personal/family life should be a priority. If you fail to achieve this, you will face many problems and obstacle on the way.
It is always good to stay focused on goals of life but that does not mean family life is less important. Ignoring the latter will increase stress and hamper your creativity and productivity. If you find, you are spending less time with your family after starting a business (http://www.wikihow.com/Start-Your-Own-Business), it’s time to reassess before it is too late.
When you maintain a work-life balance, you will lead a healthier, happier, and productive life. Maintaining work-life balance will also make you realize that you can become a better leader, son, husband, and a father. There will be a time when you need to throttle up and times when you need to throttle down. Self-realization is the key in such matters.
And that’s it. Never do these 5 things when opening a business and you will set yourself on a path to greater business success.