There are few things more annoying than having to enter important business data twice. However, that annoyance can turn into a serious problem when data is entered erroneously. Manual errors lead to bad data, and bad data can lead to expensive mistakes.
Businesses that use separate, speciality software programs are no strangers to redundant data entry. Customer and project data is often entered repeatedly into accounting, inventory, project management, customer relationship management (CRM), and other software programs that may be used throughout the office. Each time the same data is entered into a separate business software it causes a drop in productivity levels and introduces risk for data-error in each area. Your team could order the wrong quantity of products or send an invoice to the wrong address – both potentially costly mistakes. An even bigger mistake can occur when bad data seeps into financial analysis. Making decisions to expand operations, invest in new people or assets, or accept new projects can have devastating consequences if your financial health isn’t as solid as your data suggests.
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