5 Severe Mistakes That Are Not Letting Your Digital Agency Grow!

It has become extremely essential to constantly renovate and reform your basic business fundamentals in these fast-paced times. Careful planning and constant innovation have become a prime factor that determines a digital agency’s growth and market value.

To survive in such stark competitive times, the need for switching to new bespoke software cannot be undermined. Every now and then there is an introduction of new technology which adds to your ease of doing business and supplements your processes. If you are one of those firms that still wish to stick to its traditional way of doing business, then how do you plan to compete with those who have imbibed much more advanced modus operandi?

Reinventing the business processes is a challenge that every digital agency faces. We have to understand that every business has its own requirements, needs, and functions that determine how it works.

Here are some daily mistakes for a digital agency in their billing and work management:-

1. Delayed Invoicing

Creating invoices is definitely a huge pain area for many digital agencies nowadays. Creating a detailed invoice is a tedious task that involves a longer period of time. Despite being so time-consuming, it is still not able to free of manual errors.

Apart from consuming time extensively, sending recurring bills and subscription bills becomes a mess! Such types of bills have to be sent in a stipulated period to maintain a steady flow of cash. When these get delayed, it leads to an account deficit and becomes a major problem for the accountant who manages AR & AP.

Invoices act as communication between you and your clients. Hence due to delayed sending, the whole system of communication breaks down. The client remains unaware of his bills, leading to possible fines, ultimately resulting in a declining client retention rate and hampered customer satisfaction.

2. Managing on the client on one table

Every business depends on the revenue it is generating from its actions. Harbouring a huge clientele seems like a win-win situation for your digital agency, isn’t it?

With such a huge clientele, you need to upgrade your existing systems to meet their demands and expectations. Negotiations and agreements are fine, but a healthy customer relationship is what drives further business to your agency and helps you maintain a stronghold in your domain.

With multiple clients come multiple accounts and to manage them, you need much more efficient resources. Any mismanagement could risk your whole digital agency at the risk of huge loss and blemished social image. Once the words get out, it could lead to a domino effect on your business leading to a downward spiral! That’s the last thing you would want for your business, right?

3. Local behaviour with the global clients

Breaching territorial boundaries and extending operations across the borders is a dream which digital agency harbour. But seldom agencies actually innovate their custom billing software to cater to a large client base.

Serving global clients comes with its own challenges and communication chaos. Adherence to your client’s requirements in terms of their currency, denomination, and language is a huge obstacle that most digital agencies fail to follow.

Sending invoices in the language and currency native to your client leads to a much better understanding and communication. The invoices which do not adhere to this often become a scapegoat of confusion which inadvertently hampers your business and ROI. 

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