In today’s business landscape, data is the backbone of decision-making. The quality of data in your database can have a big impact on your revenue growth. According to a study by IBM, poor data quality can cost businesses up to $3.1 trillion annually. This includes costs such as lost revenue, decreased productivity, and increased compliance risks. But, many organizations are not aware of the cost of bad data or incomplete analytics. According to a recent survey by Gartner, a staggering 60% of companies fail to measure the financial impact of poor data quality on their annual bottom line. In this blog post, we will discuss the impact of bad data on a business and how using a platform, such as NetSuite in conjunction with email and Excel integration can help to mitigate the negative effects.

What is Bad Data?

Bad data can come in many forms, such as inaccurate, duplicate, or incomplete information. This can lead to decreased productivity, wasted resources, and even lost revenue. For example, if a sales team is using inaccurate customer data, they may be reaching out to the wrong people or sending out irrelevant promotions. This not only wastes the sales team’s time, but also harms the customer’s experience, potentially damaging the company’s reputation.

Another common problem caused by bad data is inefficiency. When data is not properly organized or is difficult to access, it can take longer for employees to find the information they need. This can lead to delays in decision-making and a decrease in productivity. In addition, if data is not properly consolidated, it can be difficult for managers to get a clear picture of the overall performance of the business.

Keeping Data Clean in NetSuite with Excel

Excel integrations can be a powerful tool for keeping your NetSuite ERP and/or CRM data clean and organized. By leveraging the capabilities of Excel, you can easily import, export, and manipulate large amounts of data, making it easier to maintain a high level of accuracy and consistency in your ERP or CRM.

One of the key benefits of using Excel with NetSuite is the ability to quickly update existing data or import large amounts of new data into the ERP or CRM bypassing cumbersome CSV import processes. This can be done by exporting data from other systems, such as a customer database or an accounting system, and then importing it into NetSuite using the built-in Excel import feature. This allows you to quickly and easily add new customers or update existing ones without having to manually enter the data into the ERP or CRM.

Another benefit of using Excel integrations is the ability to export data from NetSuite and manipulate it in Excel. This can be useful for creating custom reports or analyzing data in new ways. For example, you might export a list of customers and then use Excel to filter and sort the data based on specific criteria. This can make it easier to identify trends or identify areas where improvements need to be made.

Excel integrations can also be used to automate certain tasks within NetSuite. For example, you might use Excel macros to automatically update certain fields in the CRM that will further trigger NetSuite actions. This can help you to keep your data clean and accurate without having to manually update it on a regular basis.

To use Excel integrations with NetSuite, you will need to have a working knowledge of Excel and be familiar with the NetSuite ERP and/or CRM. It is also helpful to have experience working with other types of data, such as customer data or financial data, as this will make it easier to understand how to best use Excel to keep your NetSuite ERP or CRM data clean and organized.

Manage Contacts and Communications from Your Inbox

Updating your CRM data should be easy, and it should be possible to attach emails and manage contacts from your inbox directly to your NetSuite CRM. Unfortunately, many CRM systems make this process difficult, which is why many users don’t take advantage of the feature.

Imagine receiving an email from a contact that includes their new job title or phone number. Rather than opening a new browser tab, logging into your CRM, searching for the contact, and then manually updating their information, wouldn’t it be much easier to simply update the record directly from the email?

Streamlining the process of updating NetSuite CRM data from your inbox ensures that important information is always up-to-date and easily accessible, without taking up too much of your time.

Conclusion

Bad data can have a significant impact on a business’ bottom line. However, by leveraging the capabilities of Excel, you can easily import, export, and manipulate large amounts of data, making it easier to maintain a high level of accuracy and consistency in your CRM, to increase productivity, better decision-making, and ultimately, improve financial performance. Further, leveraging an email integration with your CRM will ensure that relevant records are kept up to date and users have a 360-degree view of important communications. Try our integration solutions today.