• Marvina Case

Inefficiency Is the Devil

The Danger of Inaccuracy Fighting financial crime is paramount to the success of most businesses today, and technology is critical to this effort.  You are probably thinking all wrongdoing is intentional, and the threat lies outside your office, but many studies show, that is not the case. Most crimes are not even recognized and occur right under secure channel noses, inside the brick and mortar business, behind a firewall and password-protected devices or in our Post-COVID-19 home offices of collective presumed safety.  You are wondering how?  I call this situation, The Reality of the Honest Thief.  Often the mistakes are made and do not even benefit the individual making a mistake. The systems in place to monitor employees or track customers are sub-par if they exist at all.

Inefficiency Is the Devil According to multiple research firms, key operating inefficiency overpayments of 3-10% are quite common when paying incentives manually. One of the most significant crimes facing business today is inaccuracy. People make mistakes, and it costs your business a lot! "Commission overpayments in manual systems range from 3-8% of total incentive payments, according to Gartner (www.gartner.com). Customers not being charged correctly for support or billing errors because of weak data can hurt both party's bottom lines. "The money saved by reducing overpayment errors alone might be enough to recoup the investment in Customer Relational Management software in just 12 months. To err is human; to install CRM Software is divine!

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By Marvina Case, TaskSuite

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