In the era of big data, it's more important than ever for businesses to have a single source of truth for account data. When it comes to data, companies today have more of it than ever before. But with this increase in data comes an increase in complexity.
Disparate account data is defined as data that is spread across different departments, systems, and silos within an organization. This data type can be difficult to access and use, leading to inefficiencies and lost revenue.
There are several disadvantages of disparate account data, which include:
- Data duplication: When data is spread across different departments and systems, it is often duplicated. This can
lead to inconsistency and errors.
- Data silos: Data silos can prevent data from being shared across departments and systems. This can lead to
inefficiency and lost opportunities.
- Lack of visibility: When data is spread across different departments and systems, it can be challenging to get a clear picture of what is happening.
This can make it difficult to make decisions and can lead to lost revenue.
- Inefficient processes: Disparate account data can often lead to inefficient processes. This can cause
delays and increase costs.
- Missed opportunities: When data is siloed, it can be challenging to identify new opportunities. This can lead to lost
revenue and market share.
- Increased risk: When data is spread across different departments and systems, it can increase the risk of security
breaches and data loss.
Digital is the cure
Digital transformation and tools can help businesses overcome these challenges by providing a single, centralized platform for managing account data. These solutions can also provide visibility into account data, which can
help enterprises to make better decisions and identify new opportunities.
If your business struggles with managing disparate account data, consider investing in a digital solution like Salesforce.
It will bring the following advantages to your organization:
- Use account management functionalities to centralize account data: This will make it easier to track changes and ensure that the data is accurate.
- Use Salesforce Einstein to get a complete picture of your customer: Salesforce Einstein uses artificial intelligence to help you understand your customer better and
provide them with the best possible service.
- Use Salesforce Marketing Cloud to track the ROI of marketing campaigns: Salesforce Marketing Cloud will help you understand which
campaigns are working and which aren't.
- Use Salesforce Sales Cloud to get a clear view of the sales pipeline: It will help you understand where your deals are in the pipeline and how
likely they are to close.
- Use Salesforce Partner Relationship Management to manage partner and channel relationships: Salesforce PRM will help you keep track of your partners' performance and
give them the support they need to be successful.
- Use Salesforce Service Cloud to use resources efficiently: Salesforce Service Cloud will help you automate tasks and processes to free up
time for more important things.
These solutions can help you overcome the challenges of disparate account data and can improve your bottom line.