What is CRM for manufacturing?

CRM for manufacturing is a strategic approach that helps organizations build stronger customer relationships, streamline business processes, and improve their market competitiveness. It enables manufacturers to understand customer needs better, enhance communication across the supply chain, and deliver products and services more efficiently. 

Manufacturing CRM development is a much more comprehensive process than the CRM development for financial advisors.

Must-Have Manufacturing CRM Features

CRM functionality for production and sales can be very different. It all depends on the company’s needs, the tasks set, and the peculiarities of the enterprise. But in most cases, a mandatory set of functions needs to be implemented.

Automation of sales business processes

Production increases turnover and sales if the company can automate business processes. How does a CRM system for manufacturing help in this? 

Tools for working with customers allow you to immediately accept an application from different sources and direct it to a free manager or a specialist who has already worked with this client. Then, the client profile is opened, where all the data about him or her is collected, and the time for execution of documents is reduced. 

Routine tasks are automated, and work is reduced to a minimum of actions. As a result, sales are made faster, work with the client is of higher quality, and the probability of errors is significantly reduced.

Sales management

Control sales, monitor stock balances in real-time, and see which products are more in demand. CRM for a manufacturing company allows you to fully control and manage sales, make plans, and evaluate the effectiveness of the enterprise.

Product catalog

All production products are collected in a single catalog. Data on the balance, cost, and other parameters are constantly updated. There is a possibility of different catalog displays for different categories of users. A specific cost can be reflected for customers and for partners – another. 

Processing of orders with the help of the catalog is also accelerated and becomes more informative. The probability of errors is reduced. Now, there is no possibility to choose the wrong color or product that the customer needs.

Relationship management with customers, partners, and suppliers

Thanks to communication tools, CRM for manufacturing allows you to communicate comfortably with customers, partners, suppliers, and distributors. These are not just chat rooms where it is convenient to communicate. These are separate databases, profiles that save communication history, and comfortable and secure workflow. These tools allow you to manage relationships within the company and with the outside world.

Order fulfillment control

All orders have their status. Notifications come if the order is not fulfilled, not ready for shipment, or, on the contrary, realized. Thanks to this, errors in the work of managers in order processing are excluded.

Marketing automation

Data collection and analytics allow marketing strategies to be automated and improved. Company owners can see the efficiency of employees, traffic sources, points of loss of funds, and the demand for positions. This enables marketing strategies, improving the company’s positioning and attracting even more customers.

List of Manufacturing CRM Systems with Open APIs

The best way for any manufacturer to save money on custom CRM development is to use SaaS CRM systems with open APIs. They can have unnecessary functionality and be less cost-effective in the long term than custom CRM, but they help save money in the short term. Here is the list of 10 best manufacturing CRM systems with open APIs:

1. ClickUp
2. Thryv
3. FreeAgent CRM
4. Hubspot CRM
5. NetHunt CRM
6. Maximizer CRM
7. EngageBay
8. Freshsales
9. Keap CRM
10. Benchmark Email CRM

By embracing the power of open APIs in CRM, manufacturing enterprises can not only meet the challenges of today but also position themselves for sustained growth and competitiveness in the future. 

If you are looking for a reliable IT partner that can assist you with your CRM development or integration, we are your best choice. Explore our case studies to find more expertise our Zartrex Tech team has.

Manufacturing CRM Integration: How Can Zartrex Tech Help You Improve Customer Service with a CRM that Fits Your Business?

Integrating two systems means making sure that they communicate with each other effectively and in real-time. Manufacturing CRM integration involves combining data from the marketing automation platform (HubSpot, for example) with the existing CRM system and vice versa.

The continuous exchange of data between the two systems allows the sales force to continue the actions taken by marketing successfully. Especially in a complex industry like manufacturing, seamless integration can bring excellent results for several reasons:

• Many B2B companies have a limited number of contacts compared to the B2C world
• Value of a single contract can determine the achievement of revenue goals
• Frequent repeat purchases occur
• Multiple decision-makers and influencers are present in the purchasing process

Each CRM integration process is unique, and it is difficult to define the time required to plan, map, and complete all the steps. However, as a rule, an effective process takes about 8 weeks from initiation to completion.

What are the steps of integrating CRM for manufacturing? Here are them below.

Definition Phase

This first phase aims to set the project’s parameters and understand what elements and data must be shared between the two systems. As in any strategy, setting the objectives and evaluation criteria is crucial to the action plan’s success.

Design Phase

After a review of data and objectives, the second phase is used to identify and design workflows. Are there limits on the frequency of communication between systems? Will data be transmitted in real-time?

During the phase, additional specifications may be added to the design. For proper mapping to occur, creating and synchronizing specific fields in the two systems may be necessary.

It is also important to define an internal quality control process to test the integration before starting it outright. The testing and verification phase is as important as the design itself.

Construction Phase

Once the design phase is completed, we move on to the actual concretization. The integration will be built based on the specifications described above. Several quality control tests will be run, and then we will move on to implementation.

All elements must be precisely defined for the construction phase to be effective. For example, when can a product be considered sold?

The alternatives are:

• When does the customer place the order?
• When are the goods shipped?
• When is payment concluded?
• When will the customer receive the order?

Having a shared language ensures that data flow from one system to another is seamless and problematic misalignments do not occur.

Test Phase

All necessary quality tests are performed in a controlled development environment in this phase. Doing so makes it possible to verify that all data and mappings are correct and resolve any problems before implementation.

Implementation Phase

The last step in the process is the formal initiation of integration. This is the moment when:

• Data synchronization is initiated
• Workflows are activated
• You verify that the transfer is completed without errors
• You have the opportunity to intervene in case of unforeseen events

The advice at this stage is not to start the integration at the end of the month (or quarter). It would be better to embark on this new path and data exchange at a time of lower impact for the various business departments.

Conclusion

Our SoloWay Tech team comprises renowned software developers from Ukraine with experience in over 10 industries. We worked with projects in the following industries: financial services, eCommerce, manufacturing, eLearning, real estate, hospitality, and more. If you need help with developing custom CRM or integrating SaaS CRM using open APIs, we are ready to help you.

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This article discusses what SAP is, how the SAP system works, and how to implement SAP.

What is the SAP?

SAP is a program that allows you to conduct various business processes of the company: procurement, sales, production, and so on. However, SAP is not one specific product but a complex program that consists of modules. Each module is responsible for a separate business process. When switching to SAP, the business connects the modules needed.

Customized modules automate processes, which results in fewer errors in the work of employees, and the tasks themselves are solved faster. For example, if an accounting module is configured, an accountant does not need to prepare a report to the tax office manually. The program will do everything by itself. The accountant only has to send it to the Federal Tax Service.

Some of the pros of SAP include:

• Real-time operation. The manager changes the program data, and the new information is immediately reflected in the rest of the employees.
• Automation of routine processes. The program performs many tasks, thanks to which the number of errors in the work becomes less.
• Efficiency of employees’ work. Specialists are engaged in more complex and important tasks and do not waste time on one-type operations because SAP does them.
• Integration with other external programs and applications. This allows you to connect any office software to SAP.

Cons of SAP include:

• Difficult to set up. You need IT developers with experience setting up SAP.
• Employee training. The system is specific, so employees need to be trained to work with it.
• Additional costs. Unexpected costs may arise if you need to finalize the functionality to meet the requirements of the business.

If you need help with SAP implementation, we at SoloWay Tech can help you.

How does the SAP system work?

The system consists of 3 elements that ensure its operation:

• Client. This is a user application. The employee runs it on the computer and works through a customized interface.
• Server. This computer processes the program operations and sends the results to the client (user application). If the SAP is desktop-based, the server is located inside the company. If the web version of the program is used, the server is located at the SAP vendor.
• Database Management System. The DBMS manages the SAP database. It processes the information that employees have entered. System administrators and developers have access to the DBMS. Accountants, managers, and supervisors do not work in the DBMS, so they cannot access it.

SAP has desktop software and a cloud-based web version. But when an employee updates data in the program, they are immediately changed for other system users. It doesn’t matter which version is used in the office: desktop or virtual.

Where is SAP primarily used?

SAP’s flexibility and adaptability make it suitable for various industries. It is often customized to meet the specific needs of individual organizations. Here are three niches where SAP is primarily used:

• Public sector. SAP allows you to manage money settlements and budgets and keep records of the work of treasuries, administrations, and departments. For this purpose, the program creates a unified system in which management and financial information can be found for each state object.
• Logistics. Logistics companies keep records on the movement and loading of transport, calculate the cost of gasoline and car repair, and manage drivers’ work. Trade organizations can set up various business processes in SAP regardless of the business scale. They can be both small retail stores and large retail chains.
• Production. SAP is used in plants, factories, oil and gas, and power industries. The program allows you to keep records of production activities. We mean the purchase of raw materials and their processing, production of semi-finished and finished products, repair of equipment, and calculation of salaries to employees.

It’s important to note that SAP is a global leader in the ERP software market, and its applications are used by both large and small businesses worldwide.

What is included in the basic functionality of SAP and its add-ons?

SAP helps to systematize the work of the company’s business processes and automate routine operations that employees used to perform manually. For this purpose, the SAP system has basic and additional modules. The core modules include:

• Financial management
• Management of the company’s property
• Accounting
• Investment management
• Banking
• Logistics
• Personnel management

When the basic modules are installed, the company analyzes what other functionality it lacks. Each organization has the flexibility to combine only the modules it needs:

• Human capital management (SAP HCM)
• Production planning (SAP PP)
• Materials management (SAP MM)
• Project system (SAP PS)
• Sales and distribution (SAP SD)
• Plant maintenance (SAP PM)
• Finance and controlling (SAP FICO)
• Quality management (SAP QM)

So, SAP is a comprehensive software suite that helps organizations manage various aspects of their business operations, including finance, human resources, supply chain, manufacturing, procurement, and more.

How do we implement SAP at Zartrex Tech?

Implementation of the SAP system into the company’s work is as follows:

• Research. At this step, our SAP specialists study the business. They collect documentation and plan how SAP will be launched. For your part, you prepare the documents needed to purchase the program. Our SAP experts predict what difficulties may arise after the program is installed and find solutions in advance.
• Employee survey. At this stage, our SAP specialists interview the company’s employees to find out how business processes are organized at the current moment. After that, we select the necessary modules.
• Approval. Our SAP experts approve with the company’s management what program modules will be implemented. Everything is taken into account.
• Launch. Our SAP experts put the program into operation, but you cannot access it at once. Our Zartrex Tech team first checks the functionality, plays different scenarios, and checks the program’s operation under different users. Then, we make the final system settings and conduct staff training. After training, your employees get access to the program and start working with it.

SoloWay Tech is a team of diverse experts in numerous domains, uniting their powers to create the best solutions for over 15 years. When it comes to implementing and integrating the SAP system, we at Zartrex Tech are your go-to collaborators.

Future of SAP

Pivotal trends and advancements are poised to influence SAP’s trajectory profoundly. These include:

• Increased emphasis on cloud-centric solutions, exemplified by SAP S/4HANA
• Seamless integration of cutting-edge technologies like Artificial Intelligence (AI) and the Internet of Things (IoT)
• Bespoke development of industry-specific solutions
• Unwavering dedication to sustainability and Environmental, Social, and Governance (ESG) initiatives
• Intensified focus on interoperability and partnership with other platforms
• Substantial commitment to refining the user experience

These evolving trends underscore SAP’s dedication to delivering adaptable, scalable, and forward-thinking solutions that cater to the distinct requirements of various industries while championing sustainability and elevating user contentment.

Conclusion

Here are the takeaways from our article:

• SAP is a software package that consists of modules. Modules are interconnected and allow you to organize all company processes. This includes sales, purchases, warehouse management, accounting and tax accounting, logistics, etc.
• SAP has modules necessary for running a business: accounting, finance, personnel management, purchasing, and sales. However, the company can purchase additional modules from SAP if the basic modules are insufficient.
• SAP is used by companies from various spheres: banking, public sector, trade, logistics, production, etc.
• When implementing the program in a company, our SAP experts first analyze the work of the business, design the system, configure it, check for errors, and only then put it into operation.

Implementing the SAP system can take a long time. Very few businesses can carry out such integration on their own. They need the help of the development team and their own IT specialists or digital partners. We at Zartrex Tech are always here to help you!

The post SAP Integration: What Is It & Why It’s Important appeared first on Soloway.

This article discusses property management systems (PMS) for real estate and hospitality as well as technologies and tools for PMS development.

What is a property management system (PMS)?

Property Management Systems (PMS) is software designed to make managing properties easier.

Versatility is the hallmark of the property management system (PMS), serving a wide spectrum of properties, whether they are residential, commercial, or fall somewhere in between—ranging from cozy vacation homes to meticulously managed HOA communities.

Property management systems prove their worth not only in real estate but also in the dynamic world of hospitality. In the latter, these software solutions perform a parallel but distinct role, empowering hospitality managers to efficiently navigate the intricacies of their daily operations within hotels and resorts.

This article will cover both property management systems (PMS) for real estate and hospitality.

Property management system (PMS) for hospitality business

PMS helps hoteliers to competently manage all working processes: control reservations, allocate staff, work with electronic locks, provide data to the stakeholders, and receive reports on activities at any time. Analysis of data generated by PMS allows for timely adjusting the sales strategy and increasing room utilization, which will positively impact revenues.

Advantages of property management system (PMS) for hospitality business:

• PMS will quickly calculate the amount of the resort fee
• In one click, PMS will help generate data for guest registration
• PMS collects guest data by status
• PMS analyzes income and expenses
• In real-time, PMS will show the status of the room inventory
• You will no longer have to spend time manually processing rates and seasonal offers as the system can update rates on the website and all online platforms automatically
• Managers will see from which booking services guests are coming

PMS is a full-fledged hotel management system that allows you to significantly speed up all internal processes.

PMS capabilities for hospitality business

A satisfied guest is one of the main goals for hotels. The impression of a hotel is formed from the moment a guest arrives at the front desk. Staff should be friendly, and rooms should be clean. PMS lets you see the rooms booked and their readiness to receive guests in real-time. The data on cleaned and uncleaned rooms is reflected in an online checkerboard. You can also give additional instructions to maids, check payment information, and mark early or late check-out so guests don’t have to wait in the lobby for check-in.

Hotel reservation services are a significant source of sales for many hotels. PMS helps to fully automate the work with such online platforms as Booking.com. Some PMS systems allow you to manage sales on over 10 booking sites in a single window. PMS records reservations from all services, and the reserved rooms are automatically removed from sale on the other online platforms. When a reservation is canceled, it disappears from the PMS and returns to the platforms like Booking.com. Thus, the system eliminates overlaps caused by a human factor and saves time in making reservations.

Another advantage of PMS is managing the hotel’s electronic locking system. Guests will receive keys to their rooms in just 30 seconds. They will not have to switch to another program to activate the keys. At the same time, the staff will see the status of issued cards at any time. The system will show how many keys were issued and how many were handed in after departure.

Reports on hotel activity will not have to wait: the system will generate data according to the set parameters at any moment. Reports on the required areas of hotel operation can be generated even for a week, a month, or a year. Data analysis will clearly show which sales directions are effective and where the strategy should be adjusted. Look for a reliable IT partner with expertise in hospitality solutions? We are here to help you!

Property management system (PMS) for real estate business

Property Management Systems (PMS) are designed to support companies in real estate management and operations. It simplifies real estate operation and maintenance tasks, as well as the management and operation of premises, buildings, and structures of any purpose.

PMS is a unified system for implementing management decisions related to the formation, use, disposal, and ownership of real estate objects in various aspects of the company’s activities. The system allows the company to form a complete database of information about real estate objects, with the possibility of further actualization.

Advantages of property management system (PMS) for real estate business:

• PMS software automates various tasks, such as rent collection, maintenance requests, and lease renewals
• PMS systems often include communication tools, allowing property managers to easily and efficiently communicate with tenants, owners, and maintenance staff
• PMS can create and track maintenance requests, ensuring that issues are addressed promptly
• Property managers can access valuable data and analytics through PMS systems
• PMS systems can help property managers stay compliant with local and federal housing laws and regulations
• A well-implemented PMS can improve the overall tenant and owner experience

Property management software is a full-fledged real estate management system that allows you to significantly speed up all internal processes.

PMS capabilities for real estate business

Large amounts of information characterize the real estate business. It is related to the possession, use, and disposal of property of many objects and subjects of relations. 

PMS provides accounting and monitoring of property objects. This allows you to automate business processes for keeping the property register, equipment characteristics, use of property objects, and reporting. This also allows you to make selections according to the set parameters and control terms, as well as to save and maintain the history of changes. Constant updating of information on the quantity and quality of various categories of property objects allows for real-time controlling changes.

The property management system (PMS) allows you to automate all major management operations. We mean the conclusion and tracking of contracts, contacts with tenants and contractors, performance of ongoing work at the facility, etc.

To organize real estate management, a property management system (PMS) unites all databases and directories related to the objects in a convenient format. It includes contacts and data on tenants, service providers, used areas, assets, funds, and employees.

Using efficient DBMS, cloud and network technologies, mobile interface for data access, and other modern architectural solutions, property management system (PMS) provides high speed and efficiency.

Why outsource property management software development to Zartrex Tech?

Outsourcing PMS development is a strategic decision that many real estate and hospitality businesses make to access specialized expertise and resources. Our SoloWay Tech team consists of renowned software developers from Ukraine with experience in over 10 industries. We worked with projects in the following industries: eCommerce, manufacturing, eLearning, real estate, hospitality, and more. Our advantages:

• Cost-efficiency. At Zartrex Tech, we can provide skilled developers and project managers at competitive rates, reducing your overall development costs.
• Scalability. We can quickly scale our team and resources to match the size and scope of your project. Whether you’re a small property management firm or a large real estate conglomerate, we can easily adapt to your needs.
• Speed to market. We can start working on your project immediately, reducing time-to-market for your PMS solution.
• Access to advanced technology. Our team keeps up-to-date with the latest technologies and trends in property management software. We can provide you with state-of-the-art solutions, helping you stay competitive in the market.
• Flexibility. SoloWay Tech offers flexibility in terms of engagement models. We can accommodate your preferences whether you need a dedicated development team or a one-time project.
• Diverse talent pool. Outsourcing to our team gives you access to a diverse, skilled talent pool of Ukrainian developers. Your project will benefit from a broad range of experiences and perspectives.

Outsourcing property management software development to Zartrex Tech can be a strategic move to harness the expertise, drive cost-efficiency, and ensure the success of your software project. Our experience, industry knowledge, and commitment to quality make us a valuable partner for real estate and hospitality businesses. Feel free to contact us to discuss your project!

Conclusion

Property management software has emerged as a powerful catalyst for innovation and efficiency in the real estate and hospitality industries. This article has delved into the pivotal role that software development plays in transforming the way properties are managed, guests are served, and businesses are run.

The post The Ultimate Guide to Property Management System: A Beginner’s Overview appeared first on Soloway.

This article discusses what is a real estate CRM system, must-have features in real estate CRM systems, and examples of real estate CRM systems and applications.

What is a real estate CRM system?

Real estate CRM system is a tool designed to efficiently manage relationships with clients, leads, and other contacts. It serves as a central hub for storing, organizing, and tracking information related to real estate transactions and client interactions.

CRM helps real estate businesses to handle a huge number of clients and provide quality services:

• Employees don’t have to switch between databases and wait for them to load to see the information they need. Everything is stored in one place.
• When requests come in, employees don’t have to consider which group to categorize them into. Newcomers have significant difficulties with this. The system itself will offer a solution.
• Employees will not forget to call a client or issue an invoice. With the help of the task scheduler, a reminder of the unfulfilled action will come.

Custom CRM for real estate agencies helps to save time for each employee. In addition, the human factor is eliminated. With custom real estate CRM software, you get:

• Improved quality of customer service. Now clients won’t have to wait long while the manager is looking for the necessary information. In addition, no call will remain unattended.
• Preserving data in one database eliminates the possibility of missing information or theft. There is no possibility to create duplicate contacts. The system will not allow it.
• Easy access to data. All the information is stored in the cloud. So there will be round-the-clock access to it. And this is important when employees travel a lot.

Developing a custom CRM for real estate is beneficial since it will better suit your specifics, providing more opportunities and flexibility.

Must-have features in real estate CRM systems

Here are the essential features you must look for when building the perfect CRM for your real estate business:

• Contact management. A robust CRM should allow you to manage all your contacts effortlessly. We mean organizing contacts of leads, prospects, clients, and partners, including contact details and communication history. It also should categorize them for easy access.
• Lead generation. A custom CRM should offer lead-capturing tools, including web forms and integration with online advertising platforms. It should also enable automated lead assignment and follow-ups.
• Property management. You must efficiently track and manage properties with features like property listings, photos, descriptions, and status updates. Integration with MLS (Multiple Listing Service) databases is a huge plus.
• Communication tools. You can streamline communication with email templates, automated email campaigns, and SMS messaging. Integration with popular email platforms can enhance your outreach efforts.
• Task and appointment scheduling. Custom CRM should keep your real estate deals on track with task and appointment management. A good CRM will offer reminders and notifications to ensure you never miss an important deadline.
• Pipeline management. You should visualize your sales pipeline with ease. Drag-and-drop functionality for deals and stages should be available, allowing you to track progress effortlessly.
• Document management. You should store and manage important documents securely within the CRM. This feature simplifies paperwork and contract management and reduces the risk of lost files.
• Reporting and analytics. You must gain valuable insights into your business performance with comprehensive reporting and analytics tools. Customize reports to measure key metrics such as conversion rates, ROI, and agent performance.
• Wide integration capabilities. Your CRM should seamlessly integrate with other essential tools you use, such as marketing automation software, accounting software, and your website.
• Automation and workflow. You can save time and reduce manual tasks with workflow automation. Your custom real estate CRM should be able to set up triggers and actions to automate routine processes like lead nurturing and client follow-ups.

Developing a custom real estate CRM system can transform your business by enhancing efficiency, boosting client relationships, and increasing your bottom line. With these must-have features, you’ll be well on your way to achieving real estate success.

Examples of real estate CRM systems and websites

Before creating a real estate website, it is worth paying attention to the interesting functionality of already existing ones:

• Zillow app has a well-thought-out filtering system, full-screen photos, and videos.
• Realtor.com has a clear and simple interface with a minimalist design. The app features 3D real estate tours, interactive maps, and media content.
• Homes.com provides the ability to view photos of properties directly on the map.

Before developing a custom CRM system for real estate, it is advisable to familiarize yourself with the possible functionality and consider popular systems. Popular real estate CRM systems include:

• Zoho CRM. It has a set of necessary features – contact management, action tracking, task reminders, segmentation, link building, and email marketing tools.
• PlanPlus CRM. It offers users additional features, such as document management and transaction management, in addition to the standard feature set. It helps companies maximize the efficiency of every employee.
• CINC. It allows for managing all company communication channels from one system, including landing pages, websites, and mobile applications. It has a complex interface and rich functionality, suitable for professionals.

The main thing is to find experienced software developers to automate business processes with the help of a custom real estate CRM. Our team at Zartrex Tech is ready to fulfill this complex task at the highest level.

Real estate CRM development process in Zartrex Tech team

The price and duration of work on the custom CRM software depend on your requirements. The more functions it should perform, the longer and more expensive the development of real estate CRM will be. Our software development company utilizes an individual approach to each client. We divide our work into several important stages.

Discovery phase

First, we study the market, competitors, similar CRM software solutions, peculiarities of your work, and the scale of the real estate business. Analysts make a work plan during the discovery phase for further discussion and coordination.

Architecture design

This is an important stage in the custom CRM development process. At this stage, it is necessary to make decisions about the optimal functionality and synchronization with other apps and websites, as well as to think about the possible connection of additional services in the system.

MVP UI/UX design

CRM system interface should be simple and clear. When developing a custom design, we consider the peculiarities of your business and organization of work. Our designers create a unique style, which will be traced in all software solutions and will be easily recognizable among users.

MVP development

After the design is agreed upon, experienced programmers start working and begin to realize all the conceived ideas into reality. This stage includes programming and testing of all functions, as well as their full synchronization and customization. You receive a modern and convenient CRM system to run your business at a new level.

Conclusion

For the Zartrex Tech team, creating a custom CRM system is not a new task. Our specialists have an impressive experience in the development of such programs for a variety of businesses. We ensure full immersion in your real estate business. So, we:

• Create an individual style for your real estate company, favorably emphasizing the features of your business.
• Offer a comprehensive software solution for business automation, guaranteeing smooth and synchronized operation of all components.
• Can provide technical support for all software products after their launch.
• Can maintain the security of the CRM system, install additional software to protect data, create backups, and search for possible vulnerabilities.
• Can help develop a marketing strategy and implement the necessary tools and additional services.

We can quickly and efficiently create a CRM system in real estate, considering all your wishes and peculiarities of work processes in your company. Zartrex Tech company has been on the market for over 15 years and has established itself as a reliable and responsible software development partner. Want to develop a custom real estate CRM? We can help you!

The post How to Build a Custom Real Estate CRM That Will Pay Off in Years to Come? appeared first on Soloway.

In our article, you will discover types of CRM systems, CRM development steps, and differences between custom and out-of-the-box CRM.

What is a CRM system?

CRM (Customer Relationship Management) is software that allows you to manage processes within the business, keep records of all transactions, as well as automate interaction with customers, both regular and new. Thanks to CRM software, it is no longer necessary to keep important information in your head or maintain many disparate tables in Excel.

So, customer relationship management software:

• Provides a “one-stop-shop” principle, replacing several disparate programs. It saves time, allowing managers to work with clients more effectively and increase loyalty.
• Automates routine business processes. CRM prevents employees from wasting time executing template contracts, invoices, etc., and ensuring they are sent in due time. This saves time for sales managers, allowing them to be more engaged in their main work: to find new customers, increase repeat sales, develop individual commercial proposals, and save time and effort.
• Ensures the growth of service quality by automating communication with customers. Chatbots, notifications at all stages of order placement, scripts for communicating with clients, IP telephony, and more can be integrated into CRM. Taken together, all this helps to increase customer loyalty.
• Accumulates all the information on clients and concluded deals. The system lets employees quickly find the phone number, invoices, order history, and even a record of phone calls.
• Allows you to build analytics. We mean reports on sales, individual customers and their activity, marketing actions, number of cancellations and returns, and efficiency of sales managers.
• Provides access to data from anywhere with internet access. Work processes do not stop, even if employees have to work from home.
• Ensures data storage security. It is achieved thanks to restricted access for each employee, database duplication, and reliable server storage.

You should ensure you have the necessary resources to successfully develop the CRM software, including a dedicated development team, project management, and appropriate infrastructure.

Why do businesses need CRM software?

The goals of implementing CRM can be different, depending on the needs of a particular business. Examples of goals are:

• Increase in sales efficiency
• Increase conversions by X%
• Reducing the transaction cycle: for example, from one month to two weeks
• Increase in manager’s sales by X%
• Decrease in sales volatility
• Increasing the transparency of the sales department management process

When developing a CRM system, consider its integration capabilities with other systems and tools, such as email clients, marketing automation tools, ERP systems, or other relevant applications.

Types of CRM Systems

CRMs, as a rule, are not universal. There is no clear classification: the developers often create a system for the task or industry of business and then fine-tune it. However, an approximate typology can be formulated as follows:

• By development method: ready-made (out-of-the-box) and custom development
• By purpose: for sales, marketing, improving customer service, universal
• By type of business: for real estate agencies, beauty industry, trading companies, staffing agencies, online stores, etc
• By needs: operational, analytical, collaborative, strategic

At Zartrex Tech, we can develop any type of CRM software specifically for your needs.

Ready-made solutions vs. custom CRM software

To find out what is better – a ready-made CRM or custom CRM software, we compared them by 5 criteria: cost, timeline, functionality, documentation, and maintenance.

Developing a custom CRM for a large corporation or business with specific processes is more profitable and convenient. Of course, you will have to invest a lot of money, but the system will be fine-tuned clearly for the requirements.

Developing a custom CRM system makes no sense for a company with standard business processes. For example, dozens of ready-made online stores or hairdresser CRM systems exist.

CRM development: a step-by-step guide

The processes of every business are often different. Solutions that will work well for one company will not work for another. That’s why before you start developing CRM, it’s worth conducting a deep analysis to get a product that will solve your problems and not create new ones.

Here is a step-by-step guide for developing a CRM system from scratch:

1. Project planning and requirements gathering (1-2 months). This phase involves defining the project scope, identifying the CRM system’s requirements, and documenting them in detail.
2. Design and architecture (1-2 months). In this phase, the CRM system’s architecture is designed, including database design, UI/UX design, and system flow.
3. CRM software development (3-12 months). This phase includes building the CRM system’s backend and frontend components, implementing features and functionality, integrating with third-party services (if required), and ensuring the system’s performance, scalability, and security.
4. Testing and quality assurance (1-2 months). Once the CRM system is developed, it must be thoroughly tested for bugs, errors, and compatibility across different devices and browsers.
5. CRM deployment and launch (1-2 weeks). This phase includes data migration, system configuration, and final testing before making the CRM system live.

At Zartrex Tech, we have extensive experience in developing CRM software.

Our experience in CRM development

One of our last projects was Moyo’s digital commerce transformation, where we also were responsible for CRM implementation. Our team:

1. Analyzed the client`s goals and proposed developing a CRM system, new website, and mobile application.
2. Designed mockups, database, UI/UX, and system flow.
3. Developed CRM, tested it, and synchronized it with 1C using SOAP.

As a result of our work on this project, Moyo has a robust and functional CRM system that helps the company organize and conveniently process a large amount of information about products, orders, and customers.

Custom CRM development cost

How much does it cost to develop CRM software? This is a good question, which is quite difficult to answer exactly. It all depends on how complex a CRM product you need. Non-standard functionality, high loads, integration with third-party services, and data security – all affect the cost of CRM development. 

Developing a CRM system from scratch may cost anywhere from $25 000 to $250 000. This cost includes the design of the CRM system, the development of a prototype for the CRM system, programming, and CRM software setup. The exact price can be determined only after evaluating the total amount of work.

Conclusion

If you have the task of launching your own CRM, we are happy to help you make a comprehensive assessment and start development as soon as possible. Leave a request on our website, and our manager will contact you!

The post Building a CRM from Scratch: A Guide to Developing CRM Software appeared first on Soloway.

Read on to learn about the basics of inventory management, its importance, methods, techniques, KPIs, and tools to keep track of your goods easily with minimum effort from your side while saving time and money.

What is inventory management and why is it significant?

At its most basic, inventory management is how you organize — order, store, sell, and move — your stock. It helps you track the amount and location of all the items shoppers can buy from you. Its aim is to ensure your eCommerce business has the necessary amount of goods at the right time and in the right place. This enables merchants to get products into their customers’ hands as quickly as possible. 

By failing to manage your inventory properly, you can face such risks as overstocks, shortages, out-of-stocks, mis-shipments, mis-picks, spoilage, etc. The list could go on further. All this will definitely make your customers frustrated and result in your business losing revenue. Did you know that poor inventory control can cost your business an astronomical amount of money each year — $1.1 trillion? Sounds impressive, right?

Let’s take a look at the major benefits you can reap with proper inventory control:

1. Efficient data-driven goods planning. If you don’t know how many items there are in stock already and order a new batch of them, you can run into overstock. And if these products are not your bestsellers you are likely to end up investing money in vain. Moreover, you leverage your space ineffectively. Good inventory management helps you mitigate such risks.
2. Accurate order fulfillment. Imagine a retailer’s nightmare: a customer places an order happily and then discovers the necessary product is out of stock or — what’s even worse — shipped to the wrong location. Poorly managed inventory will finally result in lower customer satisfaction, higher revenue volumes, and revenue losses.
3. Increased customer loyalty. By making your store visitors happy with excellent customer service, you increase the chances to get more loyal customers who will come back to make a purchase over and over again.

Looking for a reliable eCommerce development vendor? Feel free to reach out to us and we’ll discuss your project gladly.

Types of inventory

Before you get down to effective inventory management, you need to actually understand what inventory typically comprises. Here’s the list of the most common types of inventory:

• Raw materials/substances
• WIP (Work-in-progress)
• Finished goods
• MRO (Maintenance, repair, and operations goods)

Let’s dive into each in more detail.

Raw materials/substances are used for manufacturing goods. These include wood, fabrics,  plastic, metals, etc. to produce finished goods. 

Work-in-progress (or goods-in-progress) are sometimes called semi-finished goods. Basically, those are raw goods that are partially processed and are awaiting completion. 

Finished goods are actually final products that are ready to be sold. They are obtained once a WIP is complete.

Maintenance, repair, and operations goods (MRO) are consumables, supplies, and equipment used to support materials that take part in the production process. For example, lubricating oil, repair tools, stationery, face masks, tech equipment, cleaning supplies, etc.

Now that we’re familiar with different types of inventory, let’s look at inventory management techniques you can use to improve accuracy and remove as much human error as possible.

Top Inventory Management Techniques

As soon as merchants invest significant amounts of money in their inventory, it’s crucial to leverage smart and effective inventory management techniques to order and store optimal counts of goods as well as easily track and deliver them to the right place and at the right time. The choice of inventory control techniques greatly depends on your specific business needs. There’s no one-fits-all solution. Read about the most widespread inventory control methods and choose what fits you best.

#1 Minimum Order Quantity (MOQ)

MOQ is the fewest number of product items a supplier can sell to a single business at once. Some manufacturers sell goods to wholesale traders in bulk who then sell those goods to retailers based on a Minimum Order Quantity. And then customers can buy one or two items of a product.

#2 FIFO and LIFO

FIFO stands for “first in, first out” and is a technique that implies that the first product items in your inventory should be sold first so that you can keep inventory fresh. LIFO stands for “last in, first out” and assumes exactly the opposite — the newest items in your inventory should be sold first. 

#3 ABC Analysis

In any store, there are goods that sell better than others. Based on the percentage of your revenues, you can split goods into three categories by using the ABC analysis. 

The “A” goods (70%-80% of revenue) represent your bestsellers that require minimum warehouse space and cost.

The “B” items (15-20% of revenue) sell quite well. However, they cost more than “A”s to hold. 

The “C” goods (5% of revenue) are your dead or slow-moving stock. It contributes too little to your bottom line.

#4 JIT

JIT stands for “Just-in-time Inventory Management” and aims at maintaining the lowest stock level before the next replenishment. By ordering too many product items, you risk ending up with dead stock. JIT allows you to avoid such problems, eliminate stockpiling, and maximize inventory turnover.

#5 Batch Tracking

Batch tracking allows sellers to group similar items and monitor them along the distribution chain using batch numbers. With batch tracking, you can see where goods come from, how much was shipped, where they went, and when they have an expiration date (if any).

#6 Reorder Point Formula

This formula enables you to determine when you should reorder more stock. The formula looks as follows:

(Average Daily Unit Sales x Average Lead Time in Days) + Safety Stock.

With the formula, you’ll be able to order the right amount of goods every month and stop suffering from market slumps or spikes.

#7 Six Sigma

Six Sigma is a data-driven method aimed at reducing excessive inventory as well as obsolete write-offs. By having the correct inventory that meets demand, you can reduce variance and waste problems.

#8 Lean Six Sigma

This technique amplifies Six Sigma but its main focus is increasing standardization and removing waste and items that don’t offer value to customers.

#9 Demand Forecasting

As the name implies, the technique is based on predicting what goods, when, and in what quantity your customers are going to buy. You can forecast demand by relying either on guesses or on recent sales data reports.

#10 Perpetual Inventory Management

This is a technique for estimating your inventory continuously in real-time based on electronic records about purchases and shipments rather than physical inventory. 

#11 MRP

MRP stands for Materials Requirements Planning and is based on calculating the components and materials necessary to manufacture a product. 

The list of efficient inventory management techniques could go on but we briefly covered the most widespread ones. And now, let’s move on to inventory management KPIs that will help you monitor your stock and make smart decisions about it.

Inventory Management KPIs

Inventory management KPIs (key performance indicators) are metrics used to get information about turnover, costs, demand, revenue, sales, and more to improve your inventory management. 

KPIs let you enhance the production/purchasing processes, evaluate the impact of inventory on your business performance, and analyze how close you are to attaining your goals. However, tracking various KPIs manually is time-consuming and complicated. This is where inventory management software comes at hand. With the right tech solution, you’ll be able to manage your inventory more efficiently, while making your customers happy and increasing your bottom line.

Inventory Management Software: What Is It and How to Choose the Proper System

Modern inventory management systems provide capabilities for efficient goods management across the company and your global supply network. They allow you to get rid of the guesswork by matching demand and supply and consequently increase your sales and revenues. Such solutions also allow businesses to reduce human error, which is extremely important since statistics show that it’s the number one issue in warehouses.

The key benefits of using such software are:

• Automated inventory management
• Reducing human error
• Increased productivity
• Enhanced inventory planning
• Avoiding overselling and out-of-stocks
• Reducing business costs
• Ensuring readiness for peak/holiday seasons
• Higher profitability

Choosing the right inventory control system is a big task for any merchant. You need to be strategic and allocate enough time to find the solution to best fit your needs. There are plenty of tools on the market, so you should know what to consider when opting for this or that system. Here’s the list of features to look for in a reliable inventory management system.

1. Usability to simplify your inventory management process instead of making it more complicated
2. Automated inventory tracking to easily monitor the status of finished goods or raw materials
3. Barcode scanning to put an end to data errors, enable paperless documentation and speed up stock refill
4. Perpetual updates to ensure inventory counts are live and prevent ordering out-of-stock items by customers
5. Integrations to streamline your business processes and have all management tools at hand in the same place
6. Analytics to have a glance at the most essential metrics for your business and improve performance
7. Accessible support to ensure you aren’t alone when any tech issues arise.

Conclusion

Effective inventory control is the heart of your business. By managing your stock wisely, you get a chance to grow your business in confidence without risking your investments. And a reliable tech solution will let you improve the way you track your inventory, reduce human error, and scale your business successfully.

The post The Whys and Hows of Inventory Management appeared first on Soloway.

In this article, we discuss what retail accounting is and how businesses manage their inventory. We’ll also dive deep into accounting software for retail accounting to help you stay tuned to the best practices. 

What Is Retail Inventory Management? 

Let’s start with breaking down the term ‘inventory management’.  

Inventory management in retail involves ordering, storing, and selling merchandise. 

Managing the products in stock is essential in retail. Knowing inventory key metrics allows businesses to forecast demand and replenish stock timely, plan purchases, track product shortage, manage suppliers, and adjust pricing strategies. 

The inventory management process implies 8 key steps. These steps serve as a basis for an inventory management plan. 

1. Items arrive at your stock location. 
2. Items get inspected, sorted, and placed in stock according to your storing strategy.
3. Monitoring of inventory levels. 
4. Customers make orders.
5. Orders are automatically approved in the POS (point-of-sale) system. 
6. Items are retrieved from stock and handed to delivery. Updating inventory levels.  ​​Items get re-ordered.

This is a basic inventory process flow. Each of these steps can be improved to achieve better results. For example, you can make order management more organized by tracking if the requested item is discontinued or not. This way you can make your replenishment flow streamlined and improve customer experience.

Now, let’s focus on monitoring and updating inventory levels and discover what retail accounting techniques are there to better manage your stock. 

What Is Retail Accounting? 

The term ‘retail accounting’ can be confusing because this process has little to do with actual business accounting. Retail accounting (or retail inventory) refers to inventory cost calculations. In simple terms, retail accounting helps you to track the value of items you have in stock based on product price and the number of sales. 

Here are the most popular techniques to determine the overall item value in the stock.  

Weighted average method

The weighted average method considers the average cost of all items purchased in different batches if the price in each batch varies.

Suppose you sell pens. You’ve purchased 100 pens at $0.5 each (one batch) and 100 at $0.7 (another batch). The weighted average method will consider that you have 200 pens with a purchase price of $0.6 in stock. 

Weighted average price = Total spendings/total purchased items

The retail method

The retail method is easy to use when you need to calculate the approximate cost of your inventory. The method uses a retail price ratio to calculate the inventory value. It compares the cost and price of the items. All you need to do is subtract the markup from the total value of the products you placed for sale. 

Suppose you sell all kinds of stationery with a 30% markup. You know that the total price for all items is $20,000. The markup then will be $20,000 * 0.3 = $6,000. So, your inventory cost is $20,000 – $6,000 = $14,000. 

Stock value = the price of all items – markup 

NB! The method works well only if your markup for each type of product is the same. 

First in, first out (FIFO)

FIFO method, when calculating the cost to acquire, considers that from all the batches you purchased for a given period, you’ll sell items from the oldest one. 

Let’s go back to pens. You’ve purchased 100 pens at $0.5 each (one batch) and 100 at $0.7 (another batch). According to the FIFO method, when you sell 20, 30, 40, or less than 100 pens, the total cost is calculated considering the price for the first batch ($0.5 each).

20 pens = $10

30 pens = $15

40 pens = $20

And if you sell 101 pens, the cost will be $50 + $0.7 = $50.7. 

These methods can be used for calculating inventory endings for particular purposes. The retail method is good when you need to eliminate the manual count of each item. FIFO is a considerable method for perishable products. The weighted average method can be applied when it’s difficult to track the price of each unit. 

How Retail Accounting Software Can Help Your Business

Retail accounting efforts may be minimized due to digitalization. The retail accounting software market is full of solutions that help retail businesses track and manage their inventory. 

Standard business accounting applications can be used for accounting purposes if there are features to handle retail-specific tasks. The features are the following:

• retail accounting system connected to a centralized database,
• tax compliant automatic invoicing,
• performance assessment tools,
• supply chain management (order placement and fulfillment, etc.) 
• inventory management, 
• point-of-sale,
• tax management,
• reporting.  

Retail accounting software reduces costs, minimizes human errors, and automates processes. The reasons businesses turn to account software include the ability of the software to:

• forecast and schedule replenishment,
• improve data management, 
• generate comprehensive reports,
• connect bank account for seamless payment processing, 
• track inventory levels with higher accuracy, 
• calculate taxes.  

How Does Accounting Software Work?

Retail accounting software may differ in the setup process and have a limited list of features, however, the user experience is straightforward for most of them. 

First, you’ll need to create an account and import your business data (clients, goods, expenses, taxes, vendors, etc.). If you use an ecommerce platform (BigCommerce, Shopify, etc.), check the integrations to simplify data import flow. Then you should enter financial preferences and set up online payment. 

We suggest following the guidelines offered by software providers. Take time to learn how the features work, and you’re good to go for better accounting. 

Examples of Retail Accounting Software 

Now, we can look at retail accounting software in detail. Here are the most popular accounting tools. 

QuickBooks Online

QuickBooks online is one of the most popular accounting software among small businesses. The software offers the features of income tracking, sending invoices and accepting payments, and reporting. Moreover, QuickBooks integrates easily with third-party apps and other QuickBooks solutions to scale your business. Keep in mind that some features (such as inventory management) are available only in the Plus plan. 

Xero

Xero accounting is a suitable choice for online retail businesses. The software offers inventory management, invoice processing, tax calculations, payments, and reporting in each plan option. It easily connects to the most popular ecommerce platforms. Moreover, you can use a dedicated mobile app for more flexibility. 

Zoho Books

Zoho Books is a part of a Zoho suite. It works perfectly with Zoho Expenses, Inventory, Analytics, Customer Management system, and more. Features available in Zoho Books include but aren’t limited to:

• Invoices and billing,
• expense tracking,
• reporting,
• budget management, 
• order management, 
• inventory management
• tax handling. 

Compared to Xero and QuickBooks, Zoho Books have limited integration options, however, it’s affordable and can be paired with crucial business tools.  

FreshBooks

FreshBooks is a lightweight retail accounting tool with streamlined finance management. The app focuses on creating compliant invoices, online payments, expense tracking, and reporting. For example, FreshBooks automatically keeps a record of payment. The application integrates with tools from 21 categories (PayPal, Acuity Scheduling, HubSpot, etc.) 

What Are the Advantages of Customized Accounting Software? 

Custom retail accounting software may be a better solution than out-of-the-box tools when your business needs specific features or our business operations have a unique flow. For example, you need to handle your crypto assets but popular tools on the market don’t offer crypto accounting. 

Creating custom solutions for accounting purposes gives retailers more flexibility on integrations and digital security. Developers can build a compatible platform to integrate with legacy CRM or other management systems. The same applies to security: if you require advanced protection, IT experts can build robust security features tailored to your needs. 

Moreover, custom accounting software is a reasonable choice for businesses that operate within specific local regulations and need their financial operations to be compliant. 

If you need a hand in creating a custom retail solution for your business, contact us, and our experts will help you streamline your accounting with the latest technology. 

What Are the Phases of Retail Accounting Software Development?

Developing a retail accounting solution requires thorough analysis and planning. Here at Zartrex , we break down the development process into 5 steps. 

1. Problem analysis. An in-depth analysis of your business needs to help us provide you with exact features that solve specific tasks efficiently. 
2. Solution creation. The process starts with prototyping and UX/UI design to be sure the solution meets your expectations. 
3. MVP development. After you approve the prototype, our team builds a minimal viable product (MVP) for a quick launch and better testing. 
4. Product integration. We help you connect the solution with your existing system. 
5. Support and update. Our professionals stay in touch to support you and maintain the solution. 

We strive for long-lasting relationships with our clients and are always glad to talk. If you have any questions about developing software, please, reach out, and our experts will address your questions right away. 

Is It Possible to Migrate All Existing Data to a New Accounting Software?

Yes, it’s possible to migrate existing data to a new accounting system. However, the process is delicate and requires thorough preparation so as not to corrupt your business operations. Primarily, you need to define a cut-off date and choose the new accounting system that meets your requirements and is compatible with your hardware. Then, you’ll need to backup existing data, format it, and test imported data. 

We suggest you entrust system migration to professionals to minimize errors and quickly restore the functioning of your business.

Conclusion 

Retail accounting doesn’t have to be a burden for retailers. Digital solutions such as retail accounting software can automate most of the financial and inventory operations to minimize errors and streamline processes. You can choose an out-of-the-box solution to manage your assets or turn to a software development company to get an efficient solution tailored to your needs. What solution would serve you better? Share your thoughts in the comments below.

The post A Guide to Retail Accounting: How to Manage Your Assets Efficiently appeared first on Soloway.