No doubt you have heard the expression “Cash is King”. There’s a slight variation that rings true for small to medium enterprises (SMEs): “Cashflow is King”, which represents the idea that a consistent flow of cash is of vital importance to the overall health of a business.
Without any cash coming in, a business cannot pay its bills and will, in time, cease to exist. The greater the flow of cash that comes in, the more tools that can be purchased and the greater the business’ health in the long-term.
Finance Automation is a tool that can enable SME’s to quote quicker, bill easier and get invoices paid more speedily, something every organisation considers important to improved efficiencies and scalability.
Beanie is an app that is compatible with the Salesforce Customer Relationship Management (CRM) platform and automates the entire quote, contract, invoice to payment process. Its key strength is working with Salesforce– which already automates much of your lead data-crunching allowing a 360 degree ROI reporting capability.
An internal advantage of this for SMEs is consistency of data between the CRM and billing processes – Beanie draws data directly from Salesforce, so it doesn’t need to be inputted anywhere else. It reduces the risk of human error and improves the reliability of quotes and invoices sent out.
The app makes creating templates for quotes, orders and invoices simple, as well as automating the process of quote and invoice creation. This means less repetitive work for your accountants and bookkeeping staff, reducing the possibility of error and enabling them to maximise their time. Automation is a huge selling point of Beanie: the app gives SMEs the power to automatically configure accounts, contracts, opportunities and subscriptions and take payments on submission. The advantage of the system to SMEs is that quoting, invoicing and receiving payment is clean and efficient, ensuring the process works – and that payment arrives – in a timely fashion.
A key advantage of the app is its ability to communicate with other programs and platforms. Through its connection to Salesforce, it can draw up live reports and dashboards within the CRM, allowing SMEs to see financial reporting in real time. It also syncs your invoices with account software Xero, as well as eWay for credit card payments. This means that accounts can be paid by credit card, as one of multiple payment options.
Beanie’s ability to plug into the Salesforce CRM means that customer information can be updated and campaigns can be altered if necessary. If we view the payment of invoices as the crucial action that signifies a sales conversion, late payment or non-payment can change the priority of the client or shift your focus from them. It gives Salesforce Einstein AI new information to work with – information that may see it flag this customer as not as promising or, on the flip side, very promising and high priority if bills are paid on time.
How Does This Help Customer Experience?
While the internal implications of an app like Beanie are obvious, it is important to view the app from a customer experience standpoint, in much the same way as a CRM would be analysed. How does Beanie provide a better experience for the customer? Consider this:
- It plugs into the Salesforce CRM, so it guarantees the validity of data and reduces the chance of inaccuracies that may annoy customers within quotes, orders and invoicing
- Automating the process like Beanie does means quotes, invoices and orders can be delivered at the optimum time for customers
- Beanie’s communication with Xero and eWay means customers can easily pay the bills with credit card
- Using the information it is given about payment and purchasing, Salesforce can further personalise the experience the customer receives
- It’s scalable with Salesforce, and as such, your business
How do I find Beanie?
Beanie is one of the apps available at the AppExchange, Salesforce’s exclusive app marketplace – the largest business app marketplace in the world. Sales Cloud is a scalable platform and Beanie is one of a wide range of pre-integrated apps available on the AppExchange.
What Blirt Does
Blirt is a Salesforce Cloud Alliance Partner and a Salesforce Pardot Select Partner, so it is well positioned to help your SME get the most out of this platform and show you how you can use apps and the AppExchange to boost its power.
Blirt sees CRM technology as an opportunity to produce incredible customer experiences and can help your business become a more successful, customer-focused organisation.