What Is The Single Source Of Reference and How It Improves The Vital Functions of Your Company

digi6

Employees spend nearly 20% of their workweek searching for information internally or asking their team for help in solving specific tasks. That’s one full day out of every workweek – it’s time that could ultimately be put to better use.

Difficulty finding information is just one symptom of a bigger problem. Many growing companies and businesses do not have a single referral source that their teams can rely on and rely on, and this causes a host of problems that can be costly in the end.

Actively working to build a single reference source is also the way to obtain competitive advantages. Here we will tell you where to start.

What is the single referral source?

This term has its origins in the design of information systems. The principle says that any data must exist in a central place and can be managed from there. Thus, all those who must consult such information can do so by accessing that place, which is the only source of reference, where it will also be possible to update it.

Rather than just pulling information for use elsewhere, all of your integrations should bring the data back to your single reference source. In this way, you will avoid duplicates, discrepancies and missing elements.

How the single referral source influences the vital areas of your business

Although many companies have already left paper information behind, digitized content, in this case data and information, is also prone to errors. The consequences impact all areas and the most important aspects of the business. Let’s see how.

In the area of ​​operations

The lack of a single reference source has visible consequences in the operational area. Consider that every minute your team spends looking for information is a minute that your company lags behind in achieving its goals and objectives.

Related Post  9 Ways to Increase Your Conversions Using Popups

Think about all the information that your marketing, sales or service areas produce. The collaborators dedicated themselves to creating that data content, but no one can consult it because they do not have the appropriate tools or an established process. Thus, from time to time, some employees are dedicated to sorting out that messy data, which takes time away from doing their more valuable functions, such as prospecting, serving a customer’s needs or nurturing their leads.

Additionally, consulting different sources of potentially outdated information forces your teams to spend more time aligning themselves and debating which numbers or data are correct to use.

Conversely, having a single source of information frees your collaborators more time to carry out their substantive functions; In addition, they can trust that the data is up to date and without duplication. This will also be vital for your company to obtain detailed and real-time reports, which enable agile decision making.

With HubSpot you will be able to obtain insights, panels and reports according to the aspects that interest you in the operational areas, in just a few seconds; maintain the single source of reference and create workflows according to the dynamic needs of your clients, among many more functions.

In the customer service area

Errors from fragmented and cluttered documentation can lead to multiple versions of information about revenue and customer insights.

Ultimately, having different sources of information in the service area can result in difficult events to handle. Your customers’ contact information may be updated in one place but not another. This, of course, makes communication with them difficult, as agents will not have their newest office number, their current position, or their corrected email address, for example.

Related Post  How to Build your CRM Strategy (+6 Example CRM Goals)

Additionally, important tasks may be missed or teams may base their upselling and cross-selling strategies on outdated information.

A single reference source helps avoid errors of this kind by making up-to-date information available to your team. Storing all the relevant data of your customers in the same place reduces the risk of losing sight of the actions to be carried out. This way, your team can be sure that the results of these interactions are recorded in one place and not in two, three or more different places.

Your CRM should be the definitive source of information related to your customers. There you will be able to see the history and details of all your interactions, the comments, the actions they have carried out, and essentially everything that allows you to better link your service department with those of marketing and sales.

In the leadership area

Business leaders and executives run the risk of making poor decisions if they have not agreed on the sources of information and data to use. Without a single benchmark version, the strategies shared by the marketing, sales, and service teams can easily fail to lead the company to achieve its business goals.

CFOs, for example, today feel the need for a single source of data to support decision making in their organizations. They are tasked with being more strategic than ever in the digital transformation framework, but for this they need to collect data from various departments. And 69% of CFOs consider data silos to be the biggest financial mistake companies make these days.

Related Post  Parallels Desktop Review - The Good and The Bad for 2022

Data source alignment helps keep the entire company on the same page. The leadership area must be able to consult up-to-date data to make decisions with confidence.

Make decisions based on data from your single referral source

Your CRM must host all your data and communications, as well as the data from all your integrations. Having a single source of reference gives your team a reliable way to interpret the data in order to do its job. In this way, you will be able to obtain a competitive advantage: you will eliminate errors and friction, you will save time, you will align your team and you will be able to make better decisions.

Integrate your digital ecosystem and get a single reference source with HubSpot’s operational solutions. You will make your processes run seamlessly: your clients and collaborators in all areas will appreciate it.

Jerry Gordon

About Jerry Gordon

Webmaster, nature and tech lover. Jerry manages the day-to-day operations at DigiToolsadvisor. He loves enjoying his free time, but most of all, trying new tools to master.