Maximize Your Customer Onboarding Efficiency

Financial efficiency measures how well a business converts operations into profits or uses its assets to generate income. It also looks at overall profitability, standard measures include accounts receivable, fixed assets, and inventory turnover.

Labor productivity measures the output by your human resources—your employees—in one hour of work. It’s heavily influenced by the equipment used, so it’s worth investing in the best customer onboarding solutions to keep workers happy and productive.

Operational efficiency refers to the efficiency of core business processes, such as onboarding new customers. You might outsource to reduce onsite costs or bring things in-house for complete control. Customer onboarding software can help improve operational efficiency by automating routine tasks which gives your people time to focus on high-value activities.

By assessing the efficiency of internal processes, you can see what’s working and what isn’t and optimize accordingly.

You can also measure customer onboarding efficiency by evaluating the return on your investments. For example, if your company uses a customer onboarding solution, how quickly does your customer see value and start paying for your products and services? How much time have your teams saved that they can repurpose for other business activities? If your onboarding process is shorter, you’ll realize more revenue faster, offsetting the cost of the software or the people teams that onboard and implement.

A true customer onboarding solution allows your customers to clearly see and update task statuses to indicate if they’re done, stuck, or working on a task — all without logging in or charging you for each customer license. For example, with GUIDEcx, tasks can be updated right from the automated task emails. By streamlining and simplifying the way that customers engage with their task assignments, you’ll encourage them to do their part during the onboarding process.

If you’ve ever purchased something, you know the worst part is waiting until it arrives and you can use it. Your customers don’t want to wait too long before your product or service is usable either. 

A customer onboarding solution will accelerate the time to value (TTV) for your customers. In other words, the time between their purchase and when they see value shrinks, making for much happier customers. And since companies often don’t start charging customers until they’ve been onboarded and set up, faster TTV for your customers, means you start billing faster and realize more total revenue over the life of each customer.

An onboarding solution can help your onboarding and implementation teams manage more projects, boosting team member capacity three or four times over. Where one project manager might’ve only had capacity to handle 10 implementations a month, they’d now be able to handle 30. This saves the company money on hiring and overhead, while empowering project managers to deliver the same level of quality and service with less effort.