Cloud contact center solutions are becoming the new standard for customer service.
The cloud-based contact center market is growing at an explosive compound annual growth rate of 23.6 percent, on track to increase from $5.43 billion in 2016 to $15.67 billion by 2020, Markets and Markets projects. Demand for managed services that allow organizations to outsource their operations is driving this growth, especially in the consumer goods and retail industry.
If your organization is considering whether or not to switch to a cloud contact center, you might be wondering how contact centers differ from traditional call centers and whether or not the difference is worth it. Here’s a look at how contact centers compare to call centers and why many companies are making the switch.
Cloud-Based vs. Office-Based or VoIP-Based
The difference between a traditional call center and a contact center is analogous to the difference between a traditional on-premise IT data center and a cloud-based IT infrastructure service. A traditional call center is usually based in an office with a public switched telephone network, or increasingly, a VoIP phone network. A cloud contact center is hosted virtually on a cloud server which is usually based remotely, or less frequently, can be based on-premises on a private cloud.
One major advantage being cloud-based represents for businesses is the ability to run customer service operations from any location. This gives companies more flexibility to hire home-based workers or to outsource their customer service operations to a specialty service. This can in turn help companies cut payroll costs as well as office rent and equipment expenses.
Omnichannel vs. Single Channel
Another difference between call centers and cloud contact centers is the number of customer service channels they handle. Call centers, as the name indicates, specialize only in voice communications channels. Contact centers, in contrast, are omnichannel, integrating the capability of handling voice call tickets with tickets originating from email, web contact forms, instant messenger services, text chat and video chat.
Cloud contact centers’ omnichannel capability extends customers more options for choosing their preferred communication channel. It also provides representatives with a unified interface for viewing all information associated with a particular customer or ticket regardless of its channel of origin. This allows tickets to be passed smoothly from one channel or representative to another without the need to repeat information the customer has previously given, which can speed up resolution time and boost customer satisfaction.
Cloud contact centers can also integrate analytics data from all service channels. This provides companies with a more complete view of their customer service performance. It also makes it easier to customize service for individual customers, which can improve sales as well as customer service.
All-Purpose vs. Inbound or Outbound
A third difference between call centers and cloud contact centers is their function. Call centers typically specialize in either inbound or outbound calls. Cloud contact centers can support agents who handle both inbound and outbound communications.
Being able to field both inbound and outbound communications makes cloud contact centers more versatile than call centers. You can handle all types of communications from a single contact center, including purchase orders, order status inquiries, post-purchase satisfaction surveys and technical support.
In summary, cloud contact centers are cloud-based, while call centers are office-based or voice-based; contact centers are omnichannel, while call centers are voice-only; and contact centers are all-purpose, while call centers are either inbound or outbound. Together these advantages are making cloud-based contact centers the compelling choice for a growing majority of companies.
Still looking to make some resolutions for 2018? Don’t forget to make a few for your small business, too. Much like in your personal life, you can take a number of proactive steps this year to positively impact your business.
Plus, what business couldn’t benefit from generating more revenue or fostering better customer relationships? Here are four New Year’s resolutions every small-business owner should consider striving for this year.
1. Improve Your Customer Experience
As a business owner, it’s easy to focus your energies in looking for ways to improve upon your products and services. But, in reality, creating a solid brand experience is where you can really differentiate yourself from the competition — in a positive or negative way.
In fact, more than half of all U.S. consumers will shell out more money to a particular company if they know they’re guaranteed to receive a positive brand experience. Meantime, 78 percent of consumers have, at some point, decided against making a purchase with a company due to a poor customer service experience.
If you don’t already offer a number of different avenues for customers to reach your business in real time, then it’s high time you make that a top priority in 2018. Indeed, customers’ ability to reach company reps via phone, email, live chat and social media can help to better expedite and improve their overall support experience.
Cloud-based systems, like Aspect Via or Aspect CXP Pro, are especially worthwhile tools for businesses due to their scalability and ease of use. Moreover, investing in some form of cloud call center software can accommodate sudden spikes in customer support traffic, allowing your support agents to better prioritize and answer these requests.
2. Manage Your Cash Flow More Effectively
In business and in life, poor financial discipline ultimately spells failure. That’s why you’ll definitely want to institute some solid cash flow practices in 2018 to ensure your doors stay open for the long term.
In particular, 82 percent of small businesses fail due to owners having a poor understanding of economics. Ultimately, the first step toward managing better cash flow is to develop realistic projections.
Looking for ways to better calculate your business cash flow? Score.org and applications like Google Docs offer useful information, templates, tips and resources for small businesses. Experts also suggest building up your cash reserve and creating a backup plan should any unforeseen events arise.
3. Heighten Your Digital Footprint
While your small business should already have an online presence, there are numerous ways to expand your digital footprint. In particular, with users spending nearly 70 percent of their time on a smartphone, you’ll want to make sure your website offers a responsive design for mobile devices and tablets. More importantly, your business will appear higher in Google search results with this extra layer of functionality.
Additionally, if you don’t already have a social media presence, now is the time to develop one. Choose one or two platforms like Facebook, Twitter and/or LinkedIn that are appropriate for your industry and where your customers or clients spend a majority of their time. Moreover, consider improving upon your digital marketing efforts by using tools like Google Analytics and Traackr, which will help you understand the effectiveness of your current strategy.
4. Get Involved in Your Community
Resolving to become more community-conscious can pay dividends in more ways than one. Beyond uplifting local nonprofits and putting a smile on people’s faces, being involved in ongoing philanthropic ventures is something that’s top of mind for many of today’s job seekers
Moreover, 80 percent of all U.S. consumers consider social responsibility when deciding which businesses to patronize. Look for ways your business can benefit the community by partnering with one or several nonprofits. Indeed, community involvement has the added benefit of increasing employee fulfillment, resulting in higher productivity and retention rates.
Making Positive Changes
There’s more to business than merely generating higher revenue streams. This year, in addition to promising to hit the gym or staying in touch with your childhood friends, resolve to make some positive changes for your small business. Beyond lining your pocketbook, look for new and innovative ways to improve the customer experience, create a bigger digital footprint, and get more involved in your community. Ultimately, your employees and customers will thank you for it.
When you think about attracting and retaining new customers to your business, you might focus on the importance of having a team of friendly and capable employees devoted to making them feel welcome and appreciated. Having great products and services doesn’t hurt, either.
But while these are definitely smart goals to have as a business owner, there’s yet another key way to improve customers’ overall brand experience: cybersecurity. After all, because you hold the proverbial keys to your customers’ data and personal information, it’s ultimately your responsibility as a business owner to protect it.
With this in mind, here are several ways your company can focus on military-grade cybersecurity in order to maintain and improve customers’ brand loyalty.
It Helps to Build Trust
As The Wall Street Journal notes, building and maintaining customers’ trust is crucial. One way business owners can achieve this is by letting their valued customers know they take protecting their valuable information seriously. For example, don’t be shy about letting your customers know how you safeguard their information behind the scenes, as well as the steps you take to prevent cyber threats like ransomware and malware.
To do this, consider investing in ransomware protection. For example, Mozy offers solutions that provide companies with a solid line of defense against disruptions from ransomware and malware. Additionally, Mozy maintains your company’s and customers’ proprietary data for up to one year, allowing you to restore these files from any point in time should you fall victim to a cybersecurity attack.
As another layer of protection, post signs inside your business and on your website announcing you have ransomware protection in place. Ultimately, this should reassure customers — and scare off would-be cyberthieves — that you value their patronage and are doing everything in your power to earn and maintain their trust.
Cybersecurity Improves Brand Loyalty
Having solid cybersecurity plans and programs in place can do a lot more than keep your customers’ data secure; it can boost brand loyalty. According to The Atlantic, customers appreciate when companies commit to data protection and have instituted proper safeguards.
Moreover, business owners who make it a point to prioritize cybersecurity — and keep customers or clients apprised of these safeguards — will be viewed as trusted leaders. Having a reputation that puts customers first is huge, as customers tend to put a lot of stock in companies that focus on their needs and desires — and are more likely to shop or work with a business that adopts these values.
Clients Expect It
While instituting cybersecurity measures may make for happier customers, the expectation is still there. According to the Harvard Business Review, the vast majority of consumers have high expectations that their financial institution has put measures in place to keep their personal and financial information safe.
Additionally, shoppers tend to be pretty savvy when it comes to monitoring their bank statements and credit card balances. As such, they know security measures are available in the marketplace, and they want to believe the businesses they frequent most employ these protections, Ultimately, understanding customers expect you to have some sort of cybersecurity measures in place will go a long way in keeping them happy and maintaining their patronage.
Even though many aspects of business and professional life have changed with the advent of new technologies, networking remains one of the most important elements of building and advancing a business.
Networking for business owners is slightly different than for employed professionals, but many of the same concepts still apply. Here are four of the top tips in networking for newer business owners looking to build their brands.
Join Local Business Groups
If you’re in a city or town of any size, chances are there are associations of local business owners. These groups will meet to share experience, discuss issues of importance to the local economy and, most importantly, allow participants to network with one another. Becoming active in such local business groups gives you the chance to learn from other business owners and to build connections that will benefit you as your business grows.
Many business owners miss out on attending professional conferences. These events are often thought of as being more for professionals who work for larger companies. The truth, however, is that they are still great networking events for business owners. Not only will you meet other people in your field and learn from informative speakers, but you will also have the chance to scout and connect with potential future employees.
Visit Other Businesses
One of the more straightforward ways of networking with other business owners is to visit and patronize their businesses. Going in and introducing yourself to a fellow business owner may seem overly simple, but it’s actually one of the best ways to make a business connection. When trying this approach, always be sure to offer the other business owner an open invitation to come into your business as well.
Making a good impression is essential when conducting business visits of this nature. Be sure to dress well, be polite, and always be on time. One way to help yourself out with this is to secure reliable transportation. If you’re travelling far you may even consider chartering a flight with a company like Silverhawk Aviation or someone similar to avoid any potential delays.
Keep Your LinkedIn Profile Active
Just like employed professionals, business owners should be using the social media networking site LinkedIn heavily. Ideally, both you and your business should have proprietary LinkedIn pages. You should keep both active and use them to build your network through content and connections. This gives you the chance not only to meet new people in your field, but also to do some brand building and marketing in the process.
If you are a newer business owner, building your network is one of the best things you can do to promote growth and ensure your success. Start connecting with other business owners using these simple tips, and you’ll be well on your way to creating a sustainable and successful company.
Rapidly increasing threats, both in person and online, are driving a demand for business security systems, according to the latest report by Markets and Markets. The global security solutions market, valued at $206.69 billion in 2016, will expand at a compound annual growth rate of 10.16 percent to reach $372.90 billion by 2022, the report projects. Commercial solutions hold the largest share of this market, with companies investing significant amounts in order to secure their facilities and workers from physical and cyber threats. Fortunately, security systems are investments that generate benefits which cover their own costs. Here are five ways that security systems pay for themselves.
First and foremost, security systems pay for themselves by protecting businesses from property damage and losses incurred by burglary. Over eight percent of small businesses suffered burglary or theft in 2016, a survey of 1,000 small business owners by Insureon found. The average loss per incident was $8,000. Those numbers mean that over the course of 11 years, your business has a virtual certainty of losing $8,000 to theft unless you take preventive measures. Installing video surveillance cameras can help protect you from this risk, effectively serving as an insurance policy. When would-be burglars see that you have security cameras that can identify them, they are more likely to move on to an easier target.
Reducing Inventory Shrinkage
Security systems can also help prevent loss incurred due to inventory theft by shoplifters and employees. Inventory shrinkage cost U.S. retailers $45.2 billion in 2015, growing $1.2 billion from the previous year to equal 1.38 percent of sales, according to the National Retail Federation. Nearly half of retailers experienced increase of loss from shrinkage, suffering an average loss of $377 per incident, up $60 from the previous year. By helping reduce or eliminate this unnecessary loss, security systems help employers retain more of the revenue they generate from sales and maintain a higher profit margin.
Another way security systems pay for themselves is by promoting worker productivity. One in five employers estimate that workers are productive less than 5 hours per day, with cell phones, texting, internet surfing and social media ranking among the top suspects for non-productive activity, a CareerBuilder survey found. Security systems can help discourage non-productive activity by enabling you to monitor employee attendance and work habits and enforce workplace policies. Recognizing this, 68 percent of employers are now seeing security cameras as a means of improving operational efficiency, with 44 percent of these citing managing productivity as an intended application, according to an Eagle Eye Networks report.
Preventing Workplace Injuries
Thirty percent of employers using security systems for operational purposes are also using them to prevent workplace injuries, Eagle Eye Networks also found. Workplace injury compensation costs can be crippling, costing employers $1 billion a week, according to OSHA. The average cost of an employee fracture can include $50,000 in direct expenses and another $55,000 in indirect expenses. Security systems can help you avoid these enormous expenses by ensuring that workplace safety regulations are followed. Security footage can also document your compliance with safety regulations should you ever need to defend yourself against a claim in court.
Generating Marketing and Sales Data
Security cameras can help you analyze customer behavior and patterns by collecting information about which aisles customers spend the most time in, which products they handle and what patterns they use to navigate through stores. This can help you make decisions about where to place products for optimal sales promotion. Accenture research has found that stores can achieve a 5 percent increase in sales through strategic use of security cameras in conjunction with analytics tools to study customer behavior.
In today’s world, more and more small business owners are realizing that they need to develop substantive, savvy online marketing strategies.
In addition to optimizing conversion rates, taking this course of action can make the brand more influential and cutting edge. Below you’ll find just five of many strategies you can implement to make your web-based efforts sophisticated and successful:
Pay-per-click advertising is a form of internet marketing through which an advertiser will pay a specific amount every time a site visitor clicks one of their advertisements. In essence, the benefits of PPC marketing are that it allows the advertiser to buy visits to her or his website as opposed to trying to generate site visits in a more organic manner. The result is an increase in traffic to the site, which helps them rank higher, generating more organic traffic on its own.
If you’re serious about optimizing your company’s online presence, be sure to tap into the power of blogging. This mode of digital advertising is effective for many reasons, and one of them is that blogging enables business owners to complete key brand-building processes in a more engaging, casual manner than some other marketing techniques will allow. For example, blogging provides the brand owner with a forum through which to create Q & A blog posts through which members of the target audience can ask specific questions and receive answers directly from the business representative.
Another web-based strategy that the small business owner can use to generate growth in the internet sector is the use of Twitter polls. This technique is effective because it enables you to ask your audience specific, brand-related questions and receive answers directly from them through their response to the poll you create.
As noted in Social Media Examiner, there are many benefits to this strategy. One is that it functions as a form of research through which you can gauge the target market’s opinion about your brand. Another benefit of Twitter polls is that results can be seen in real time, thereby helping you attain instant insights that can be used to quickly update your mode of advertising, method of interfacing with clients, product quality, etc.
Responsive Web Design
In a wired world such as ours, millions of people across the globe are using smart phones to access the internet. As such, you want your website to be cross compatible. The term “cross compatible” references a website that people can easily access and move through no matter which device they are using to do so.
Responsive web design services are geared towards making sites cross compatible, and these efforts are important because they can make the difference between average and exceptional conversion rates. Note that if a smart phone user finds it difficult to move through your product pages, they will oftentimes abandon your website before making a purchase!
Research indicates that online audiences are more likely to watch a video than read an article. Since this is the case, small business owners should jump on the video production bandwagon right now. Doing so will empower them to create interactive, innovative forms of web media that more members of the target market are likely to view. Hundreds and hundreds of digital marketing firms now offer customized, cutting edge video production services that will empower business owners to interface with their unique audiences in a dynamic, brand-building way!
If you’re trying to optimize your business’s presence and prestige in the online realm, note that this article provides you with multiple techniques that you can use to make it happen. Start using these web-based advertising tricks now so your organization can start to thrive in the ecommerce sector!
Before ecommerce became a thing, there was only one type of common consumer: shoppers who would go into brick-and-mortar stores to buy what they needed.
With the popularity and proliferation of online stores, two new types of shoppers have emerged: webroomers and showroomers. In a nutshell, webroomers are known for doing their homework online by checking out the things they want on websites before buying them in a regular store. Showroomers, on the other hand, will browse in brick-and-mortar shops and then buy the items on the internet.
Today’s online business owners are interested in finding ways to court both of these shoppers and entice them to make their purchases online. Here are five to consider:
Offer a mobile-friendly website
You may have a great selection and terrific prices, but if shoppers need a magnifying glass to see your product images and descriptions, you’re not going to win over consumers who are determined to buy things in person. That’s why it’s imperative to offer a user-friendly site that is easy to see on a mobile device. If you sell on multiple sites or through retailers, be sure their product copy is clear and up-to-date as well.
Match online prices with in-store prices
As Conversion Conference notes, ensuring that there is equality between brick-and-mortar and online prices will help drive sales. If you can, offer free shipping whenever possible and bonuses for shopping on the site, like a free product with every purchase over a certain amount. If you’re a brand selling at multiple retailers, you may not have control over this.
Make the online shopping experience as seamless as you can
To tempt webroomers to make their purchase, spend some time making your site as eye-catching as possible. Eliminate clutter, including numerous videos, texts in different colors, and pop-up ads, and clearly display what’s important, like your where to buy. If your webrooming customer feels like she can easily go to one of your retailers’ sites to purchase, she might do so.
Harness the power of social media
A great way to increase your online presence is to promote your online shop through social media sites like Instagram. As IQMetrix notes, Instagram is an especially useful tool that allows you to showcase your items with effective photos. For example, if you sell clothing, instead of posting shots of your different t-shirts and pants, use Instagram to show your amazingly comfortable and stylish clothing “in action” on everyday people going through their day. These lifestyle image photos will illustrate to webroomers how great your items fit and give them ideas on how to incorporate them into their wardrobe. Instagram, Facebook, and Twitter can also introduce potential shoppers to not only your products, but also your people; you can post funny anecdotes about yourself and cute pictures of your pets. This will help take away some of the anonymity that online businesses may have, and allow shoppers to feel like they really “know” you and your staff.
Consider an all-in-one content management system
If you’re responsible for updating all your product copy on your retailers’ websites, you know it can be a harrowing experience. To make this process as easy as possible and keep your product pages looking great all across the web, consider using an all-in-one ecommerce content management system like Content Analytics. This easy-to-use software allows brands to update all their retailers from a single platform. It can even provide analytics that are useful in determining what is working and what needs to be updated, revised or optimized.
According to research by Forrester, 77 percent of consumers claim that “valuing their time is the most important thing a company can do to provide them with good service.”
Businesses that are both thriving and progressive only get to such a level by mastering the art of pleasing and retaining customers. But even so, the best businesses are still more than eager to find new ways to improve their customer service experience. After all, without the loyalty of happy customers, even the most booming businesses can quickly find themselves on a downward spiral.
Even if you have the best intentions of elevating your customer service, it can be tricky to know where to start and what to focus on first. This is where statistics can help. For instance, a Marketing Land study found that 74 percent of consumers who have encountered a poor customer service experience with a company were inclined to buy from that company’s competitors’.
So, with a single phone call carrying that much weight, why not start by revisiting — and maybe even revamping — your calling system? Here are a few reasons why elevating your customer service experience can help you retain customers.
Their Time is Gold
According to research by Forrester, 77 percent of consumers claim that “valuing their time is the most important thing a company can do to provide them with good service.” This is especially important with customer service phone calls, as most people already feel aggravated about having to call a company in the first place. In today’s era of convenience, calling a business to get a question answered or air a concern often feels archaic and a major waste of time.
So how can you effectively show your customers that you value their time? It’s pretty simple, really — start by not placing them on hold for long periods of time. Many companies have embraced an on-hold system that allows callers to elect to receive a call back, rather than waiting to speak with a representative. Offering this option lets customers hang up the phone, go back to their busy day and still get a chance to speak with a customer rep when both parties are available.
Another way to help callers feel better about dreaded wait times is to adopt a system that allows them to know where they stand in a queue and their expected wait time to reach a company representative. This may be less preferable than giving callers the choice to be called back, but it’s still a way to show customers you value their time.
You can also largely circumvent the issues associated with calling systems and placing callers on-hold by including as much information as possible on your website. You may also want to consider implementing a chat system on your site, so working customers have a convenient way to receive assistance without stepping away from their desks to make a phone call.
No customer ever wants to feel like just a number or like all they amount to is a dollar sign in the company’s eyes. Appeal to your audience’s desire to feel special and understood by using a technologically-advanced, interactive voice response phone system like those sold by Aspect. In fact, this type of technology can work wonders to improve customer service. For example, your company can use such a system for:
Conducting outbound or inbound calls
Administering surveys by phone
Alerting customers about their order status
Sharing emergency notifications
Solutions, like those sold by Aspect, even integrate with customer relationship management platforms to make calls even more personalized and accurate. Instead of feeling like they’re talking to a robot on the phone, callers will feel respected, appreciated and — most of all — adequately and quickly helped.
If you want to raise the bar with your company’s customer service, start with your phone system. Consider each step a customer has to take to reach your company and how you can make this process more seamless — and perhaps enjoyable. At the end of the day, even seemingly little changes can make a big difference.
Even though it doesn’t it may seem like every day, a new mass crime takes place in a public area. The frequency and severity of these events has made many people feel scared about routine activities, such as going shopping. As the manager of a store, you can use these four tips to create a safe shopping experience for your customers.
Install Video Monitoring and Metal Detection Systems
Installing video monitoring equipment at the check-out stations, entrance and exit doors, restrooms, secluded corners, and dressing room entrances helps customers to feel safer. The video feed can be accessed by law enforcement in the event that a crime takes place on your property. A metal detector at the entrances to your store can help to prevent someone from bringing in certain types of deadly weapons. These units can also include detectors for the RFID tags on pricey items.
Create a Comprehensive Evacuation Plan
Creating a comprehensive evacuation plan helps you and your staff to handle an emergency situation. While laws require that exits be clearly marked, people might not know what to do or whether or not they should leave a store in an emergency. Creating an easily-escapable store is the best way to make customers feel secure and calm whilst shopping. Your plan should include details on when to shelter in place and when to evacuate. Be sure to practice your evacuation plan and update it on a regular basis.
Learn to Handle Emergencies
Knowing what to do in emergency situation is critical when running a business. Earning an online master’s degree in emergency management prepares you to handle a natural or man-made emergency in your store. In this type of a degree program, you will learn how to handle a person’s medical emergency, a rush or stampede of customers or an active shooter situation. These skills will help you to keep yourself and your staff calm as you usher customers to safety.
Hiring Security Guards
Managers can improve a store’s safety by hiring security guards. Posting uniformed security guards alerts shoppers to the fact that that security is ready to take action in the event of a theft or another crime. Managers may also wish to hire plain-clothed guards who are able to more discreetly spot shoplifters and other types of thieves, such as people who switch price tags.
Being observant and having a plan are low-cost yet highly effective ways to keep people safe. Become educated about possible emergencies and teach your staff what to do in different types of situations. Your preparations will come in handy in case of a weather emergency, medical emergency or another unfortunate situation.
If you’re a business owner feeling frustrated because you can’t seem to stay ahead of costs, you aren’t alone.
Some businesses struggle from the start, while others may find some initial success and then find customers turning elsewhere. According to the SBA, about 30 percent of businesses don’t make it past their first 2 years. Here are some sound practices you should follow to ensure you stay profitable.
Understand your customers
Analysis of your market segment and what kind of marketing appeals to them is critical. But keeping customers is even more important. You should provide great customer service to give purchasers a good experience. You may want to invest in CRM (customer relationship management) software. Having details on each customer at your fingertips enables you to provide a personalized approach to every interaction.
Don’t get overwhelmed
When you’re rushing to meet deadlines, things are going to go wrong. You may tend to let quality slide, or spend more money just to make sure things get done. A good rule of thumb is to stay below 85 percent of capacity. If you’re offered work you can’t handle, think about passing it on to a competitor and maybe asking for a commission.
Always ask for referrals
When you’ve got a happy customer, ask them to recommend you to their associates. You could offer them some kind of incentive, such as a free gift or big discount if they provide you additional customers. You could even print this message on a small flyer, and absolutely mention it on your web site. Set up an online page to ask for testimonials.
Save your money
There will come a time when you need emergency funds for things like slow periods or legal help, not to mention great opportunities. The alternative to coming up with quick cash is borrowing at interest or selling your assets. Instead, set a reasonable amount as your cash reserve and put two or three percent of your profits into a separate account until you get there.
Protect your assets
Any loss of equipment, goods, or simple vandalism could affect productivity, resulting in a loss of income and possibly reputation on top of material costs. Property insurance is essential, and it’s worth it to ensure business continuity. Security in place on your premises is just as important. Discourage criminal activity with bright lights, surveillance cameras, electronic locks, and a good alarm system. If part of your business involves transporting cash between two or more locations, you may even want to consider hiring a security contractor such as Security Services Northwest, Inc. to help you protect those assets.
Building up a good cash flow should be your first priority. But sustainability is about how you use the money to please customers and prepare for emergencies.