Across every sector, business management software has dramatically transformed the way companies do business. These platforms streamline everything from customer management to operations to sales and more. Although it’s clear that essentially any enterprise can boost performance by implementing these solutions, many waste management companies have yet to make the transition. Let’s see what this modern technology has to offer, and how the waste management service providers can extract value specific to the waste industry.
The Business Management Software Market Boom
The business management software market is expected to climb to a total revenue of around $95.4 billion worldwide by 2021. The driving force behind such huge growth is the proven business advantages and ROI provided by these platforms.
For example, business management software typically includes a customer relationship management (CRM) component as a key feature. CRM focuses primarily on cultivating customer relationships which leads to more satisfied customers and improved business outcomes. One study found that every dollar spent on CRM delivers an $8.71 average return on investment (ROI). Other estimates show that CRM applications can help boost sales by up to 29 percent, sales productivity by up to 34 percent, and sales forecast accuracy by 42 percent.
Given these numbers – for just a single component of business management software – it’s no surprise that companies in every industry are rapidly adopting these tools.
Waste Sector Opportunity
Despite the proven benefits of business management software, there are still many companies that haven’t implemented these solutions. The waste management industry, in particular, is notoriously slow to embrace new technology. One of the big reasons is the fear that digital tools will make doing business more complicated. The reality is that technology makes businesses work smarter and faster. Industry leaders have embraced this and are quickly incorporating business management software packages to gain a competitive advantage.
Understanding CRM Benefits
If we take a closer look at CRM, we can further understand the advantages of business management software as a whole. CRM platforms directly address the needs and workflows of waste management companies in regards to customer interaction. For example, all customer information is centralized and housed in one secure place. Instead of shuffling around looking for data among paper archives, Post-Its or scattered Excel spreadsheets, everything is organized in a single location.
CRM platforms provide quick access to current customer status and the business history of each client. Now, when a company representative engages in communication with a customer, all the information can be located easily. This avoids confusion and shortens the time needed to provide solutions or resolve problems. On the customer’s end, CRMs can also include portals that provide easy access to tasks such as new service orders, document sharing and invoice payment. This access automatically extends to all customers 24/7.
Now that we’ve seen the benefits that CRM provides, we can understand how business management software provides a similar advantage for nearly every other company function.
Sales Management Specifics
While some consider sales management an extension of CRM, others categorize sales as a separate arm of business management software. Either way, the main benefits as mentioned earlier are shortened sales cycles and increased sales volume.
One key aspect of sales management for the waste management service provider is the generation and delivery of price quotes. The speed and efficiency at which the software facilitates this process translates into more jobs won. Furthermore, by seeing all sales opportunities at scale, leads don’t get lost in the shuffle.
The same advantages business management software provides to customer relationships and sales extends to company operations as well. One powerful example is the preparation of critical documentation. For instance, waste manifests and waste profiles must be prepared accurately and efficiently to avoid fines or delays in the job progress. Modern waste management software allows for these and other documents to be generated in an automated fashion to save the company time and resources while staying compliant with local, state, and federal regulations.
Document preparation tools have a large amount of information pre-loaded. Instead of having to type in data manually for each form field, users simply select the correct data that automatically appears in a drop down menu. By improving efficiency, documents are produced faster, and employees can dedicate time to more productive tasks.
Additionally, all documents are contained in an easy to navigate library for rapid organization and retrieval. EPA reports, permits, licenses, contracts, SDS, certificates of destruction, work orders and any other type of document can be loaded into the system for fast completion and secure storage. Click here to learn more.
Business management software also contains resources that can improve finance tracking. For instance, by connecting with accounting software, business finance functions can be integrated which reduces redundancy and errors. Also, online invoice payment features streamlines revenue flow and decreases paperwork bottlenecks.
Waste Industry Specific
A common misconception is that all business management software platforms are equal. However, as we have seen, waste management service providers have needs specific to their industry. For example, a platform that already contains the tools required to create waste manifests and waste profiles offers a clear advantage. When the software is pre-configured for industry specific use, certain applications are ready to go out-of-the box.
An all-purpose business management software provider could probably build something suitable, however, this implies extra time and cost considerations. Also, if not set up correctly (e.g. EPA waste codes for waste profiles) it could lead to serious oversight that would consume time, and in the worst case, lead to unwanted EPA sanctions or fines. Waste industry specific software platforms, on the other hand, actually improve compliance as forms are generated with greater accuracy and completeness.
More Possibilities, More Opportunity
Cloud computing makes business management software features available to anyone with an Internet connection. This means executives and teams can access the system remotely as if they were in the office. Add in mobile tools and this provides even more agility for waste companies seeking new business opportunities.
Another big advantage of business management software is that it typically is offered as a service rather than a large hardware installation with high cost. The service model also includes troubleshooting, updates and professional support which makes for an ever-relevant business performance package.
Isn’t it time your company moved up to the speed of digital and started using powerful waste management business software?
Click here to get a FREE Demo of the PegEx Platform, the waste industry’s leading waste management business software.