Businesses often have substantial amount of data to manage. It is necessary to ensure all the data is secure and up-to-date providing easy access when required.
Companies using customer relationship management systems such as Microsoft Dynamics CRM, there is one more issue to tackle – data duplication. This is not an easy issue to solve, unless companies incorporate a standardised record management process. Statistics indicate companies are spending increasing amounts on data deduplication tasks.
Look closer at data duplication
Let us look at how data duplication affects businesses and the approaches businesses can take to mitigate the risks.
Duplicate data in CRM leads to a host of issues. Although duplicated data by itself does not seem problematic in the beginning; there are chance of organisations losing business due to duplicate information.
Let’s take an example to understand this better.
You may send out the monthly service invoice to a customer for the services rendered, which the customer pays. Due to an incorrect address format, the business has another duplicate customer record and ends up sending another invoice to the customer. The customer becomes annoyed at having received the same invoice twice. If this issue persists month-on-month, the customer may seek another service provider.
Multiply this by the number of duplicate customer records and it is easy to see how much impact an incorrect address format can have on businesses. According to CRM switch, while the issue of data duplication cannot be completely eliminated, having proper plans and systems is one of the best approaches.
Tackling data duplication
Statistics indicate incorrect address formats as the number one reason for record duplication apart from misspelled names. While misspelling names is the result of sheer negligence, incorrect address formats can be tackled with the help of an address validation system.
Apart from high costs associated with changing incorrect data, businesses without an Australian address validator run an increased risk to legal exposure for non-compliance and customer privacy breaches.
An efficient address validator should be able to append delivery codes and geo-codes to return addresses in standard industry formats.
By implementing an embedded address validation plugin within Microsoft Dynamics CRM, businesses can expect to:
- Enhance CRM data quality
- Increase business process efficiency
- Increase customer communication process
- Ensure data compliance
- Reduce legal exposure
- Eliminate privacy breach
An effective Australian address validation service is a boon for professionals in the Human resources, finance and operations departments. Such systems are proven to reduce back-office overheads and increase front-office productivity by more than 15%.
With the help of a CRM-embedded Australian address validator, organisations will be able to successfully tackle the issue of data duplication as well as eliminate the associated risks of having records with incorrect address information.
If you would like to implement the Australian address validator for Microsoft Dynamics CRM and/or SharePoint, contact the Empower IT team right away for a quick discussion.
Blog Update: In November 2016 Microsoft launched Dynamics 365 – a platform that unifies CRM and ERP capabilities into applications that work seamlessly across different business divisions. Henceforth the Australian address validation system will be designed and developed using the latest features and functionalities offered by Dynamics 365.