Sales and service business is a huge segment in India. In India, mobile sales & service, generator sales & service, inverter sales & service, computer sales & service are some of the common businesses in this segment. There are 5 key things to run sales & service business successfully. Let us see one by one in detail.
Lead Management: In a sales and service business, lead management is a key aspect. This is where you get new business. You will be getting new leads from paper advertisements, posters, pamphlets, classified ad websites, SMS etc. Since all these methods have a cost attached to it, it is very important for you to track every lead you get. Generally people tend to note down these leads in a notebook or use an excel sheet. Either way you are dependent on your employee to get the data. Instead if you have software which can capture leads automatically and if you can access it from anywhere then your main problem is solved. One such software which is available at nominal pricing in the market is reach accountant. This can actually solve your main problem of revenues and will actually help you to analyze your advertising spend on each medium.
Accounting Management: Next thing which a business owner will have to know is the income and expenses of the business. This is another key aspect which will actually tell how is business is running. This is what will tell you whether your business is going on the right track or not. Most of the owners have the tendency to check their income and expense only once in a year. This is a wrong practice. If you know your income and expenses real time you can plan your budget accordingly. Otherwise you will be planning a budget without knowing what the actual revenue is. There is some online accounting software which can provide you instant accounting data at any time anywhere. This will really help your decision making.
Repairs Management: As a Sales & Service company you need to track your service business carefully. If you take any sales & service company their main revenues comes from repair works. So it is vital to track these revenues. Generally for any repair management it is critical to know the spare parts purchased and spare parts repaired. Each one of it has different cost. For spare parts purchased, spare part cost is involved whereas for spare parts repaired, labour cost is involved. You should be able to track this and also be able to maintain AMC of your customers. Annual maintenance contract for businesses like Air conditioners, Medical equipment etc. will be a great feature to look out for if you are looking to automate your business.
Stock Management: You got to know the stock quantity of your products. Stock refers to your regular product as well as spares. You should be able to maintain minimum stock quantity of each of these. Otherwise it will be difficult for you to serve your clients on time. Whenever your stock level is lesser than the minimum order quantity you should be able to get an alert to reorder again. If this can be done automatically then you can run your business without any difficulty.
Business Management Software: Last key thing which a sales & service business owner should have is business management software. All the above 4 key things can be easily managed with the help of a business management software. If you can choose business automation software which can cover all the above then you can definitely go for that software. You can go for cloud based business management software to run your business smoothly.
If you still do not know how to choose business management software, please read my article on “How to choose Accounting software for your business”