What Salesforce Workflows Can Do for Your Business

After learning how you can boost your ROI 1000%, you can now see how powerful optimizing your CRM is and how important it can be for your business processes. Whether you are a new, existing, or a power Salesforce user, there are always ways to expand and optimize your current system in order to get the most out of it. With a lot of different moving components in your business process, it is challenging to monitor everyone’s progress. One of the ways to stay on track is through utilizing automated Salesforce workflows.

So what is workflow automation exactly? Workflow automation is a simple way to manage and drive your daily business processes through setting up automated actions and events without spending the extra dollars on additional systems or manpower. It provides you and your team the freedom and the time to be more efficient and not bogged down with day-to-day tasks. Many people get discouraged when talking about workflows, but don’t worry, workflows do not require any technical coding to be built. Before we talk about how workflows rules can be put in place to optimize your Salesforce, lets breakdown the 3 components:

Workflow rules are broken down into evaluation, criteria, and actions. Evaluation is how you determine if that record goes through the workflow. Criteria is where we match the records to predefined rules. Actions are what triggers the automation once the criteria is matched.

Here are some ways people utilize and create workflows for their day-to-day operations:

  • Alerts for Opportunities – Receive an email alert whenever an opportunity has been won or receive notification instantly of the reason why a deal was lost.
  • Send Tasks and Notifications – Using time dependent actions, you can trigger follow ups or reminders. This way you can ensure nothing gets lost, and keeps your team accountable.
  • Maintaining your Database – Standardize and streamline data inputs using field updates to maintain and validate data to ensure clean data. Having a clean database is required for effective reporting when viewing analytics.

Regardless of how long you have had the system, Salesforce workflows are just one of the many ways you can streamline your business processes utilizing preexisting Salesforce functionalities. By doing so, this allows you to save time but also helps you lay down the foundation for huge increases in Salesforce ROI.  

Keep Dirty Data from Hurting your Data Analytics

Dirty data is data that, over time, becomes outdated, incomplete, or just flat out wrong. Over 600B dollars are spent annually trying to clean up dirty data (TechTarget), and for good reason.  As your big data piles up, it not only gets more difficult to clean, but it also becomes more unreliable, hurting your Salesforce CRM system’s capabilities in numerous ways. Here’s a couple potential issues:

  • Bounce emails. Your sales can no longer reach these people. How can you be certain those emails you are sending are going through to the right email.
  • Messed up reports and Dashboards. Some features you utilize will be limited based on bad data even for your day-to-day operations will be affected.
  • Trusting your variable tags. Which contact to pull from because you might have duplicate contacts, and format of fields are different from one another or even outdated. 
  • Going into the right workflows. How do you know the appropriate prospects are getting put into the right workflows and nurture programs.

Where is Your Dirty Data Hiding?

Dirty data doesn’t only lead to poor analytics but can wreak havoc on different features within your Salesforce (CRM). Let’s see what some of the potential issues that cause dirty data.

Sometimes, the problem is staring right in front of us, user error. Forms are a great way for businesses to increase your database’s accuracy. Forms provide a great way to segment and develop relationships with your customers.

From users to the systems, when we tend to merge data across multiple sets, this can also cause dirty data. Use a unique identifier to prevent duplicate entries or updating the wrong records. This is usually the suspect when you businesses are trying to merge multiple databases at once, or when old technology can’t keep up with the current database demands.

How to Dispose of the Bad and Keep the Good?

Yes, cleaning your data sounds tedious but it is well worth the time. Of course, going one-by-one would take forever, so by using system algorithms will set up a more automated process of cleansing your data. Although it may not catch everything, it will drastically increase the reliability and availability in the type of analytics you can use within your CRM system.

Once your data is clean, the trick is keeping it that way. Here are a couple of helpful tips to maintain that clean database:

  1. Data Scrubbing. This allows you a way to filter out and automate that bad data from ever reaching your CRM system by scrubbing it out.
  2. Building Relationships. Remember you are talking to real people, when you maintain and form a real relationship with your customers, they are less likely to provide false or blank information into your Salesforce.
  3. Data champion. This allows you to not only ensure your data is clean but also to allow your company the ability to know have one point of contact into your Salesforce(CRM) to enable clean and smooth implementations/ health checks.

Identifying and preventing the dirty data from your Salesforce (CRM) can go a long way for your business to see big rewards from big data analytics. Who would have guessed some misfilled forms, a day where you forgot to update a contact, or a simple import of a list could be so costly?

How to Drive Cash Flow thru Accounts Receivables

Does this sound familiar? Your company never seems to have enough cash on hand, but the problem may not be a lack of sales, it’s delayed collections. Did you know 39% of invoices are paid late in the United States and 6% of accounts receivables are paid in under 30 days (AnyTimeCollect). When accounts receivables sits in your customer’s’ bank accounts instead of yours, it negatively affects your finances in a few ways. The most obvious effect is a loss of revenue.

How you keep track of that is through Days Sales Outstanding (DSO). This measures the average age of accounts receivable — if your average is trending higher, then your business is more likely to struggle with cash flow. Knowing your DSO can also help determine whether or not to outsource collections or to simply improve your current processes and policies.

When overdue accounts go past 120 days, 26% of invoices 3 months old are uncollectable (SutherlandGlobal), and you will lose equally that amount on your pretax income. In addition to lost revenue, you might lose out on an opportunity to expand or otherwise enhance your business because you don’t have the cash flow to invest.

How Using Automation Affects Your Cash Flow

Taking in the loss of revenue, operational costs, administrative costs, and all that time you spend running around, you can understand how unpaid accounts receivables can start eating away at your company’s cash flow. With EZ-AR™, you can see how you can start cutting out those unnecessary costs of chasing down payments.This Accounts Receivable Solution accelerates the process of collecting your money and frees up time in your accounting department. It cuts DSO from 30-35 days to 15 days. Using EZ-AR™, it is designed to use automation to allow you to become more efficient and scalable as a business in all aspects because less time is being spent on A/R and more time on the business activities that help with company growth.

EZ-AR Video

Whether they’re being genuinely late with a payment or purposely stalling, it amounts to cash that is not in your bank account. As you notice through the power of automation, you can see how seamless EZ-AR™ allows you to chase down those payments in an effortless manner. We at the Corrao Group like to call it “Hands-Free AR” because, at the click of a button, a whole process of collecting money is in place with little to no manual interaction.

Now that you understand how shortening your DSO can add to the financial health of your business, it’s time to put a plan in action!