The customer may always be right, but are they profitable to your company? While losing a customer (especially in our current economic climate) is never ideal, they may be costing your company more than a holiday gift basket.
There are a number of ways to determine if doing business with a customer is profitable for your company, and to ensure that you’re managing your customers effectively. As we’ve discussed in recent posts, BI360 Reporting can analyze your profitability using various allocation methods. Specific to customer profitability, you can factor in outlying variables such as ongoing support cost, handling of special requests, average billing rates (services) or sale price (products) and other key customer-related information.
BI360 works across customer segments and industries such as healthcare, financial, retail, and manufacturing, to help organizations identify customer relationships that are profitable, and conversely, those that aren’t. See how BI360 provides better insight to help understand your customers on a more profitable level.