Taking customers by the hand

To achieve an understanding and develop a customer brand advocacy program your business needs data to help identify advocates and influencers and unpaid spokesmen and referrers. The best bet for building and managing this data is by using a centralized customer master data management system like that offered by Pretectum.

You’ll want to take the data that a customer provides you with and harness it for future communications, to extend offers, provide promotional messages and of course, hone, refine and customize the customer’s experience every time they visit your website, your storefront or a system that you have, that they might need access to. A solid execution plan will have this data held centrally in a hub that disseminates it to whoever and wherever it needs to be; webshop, support portal, billing system and even point of sales and mobile app.

With the Pretectum C-MDM your business has the flexibility of deciding what you want to track and of course who you want to track and why.

Customer data and business goodwill

In accounting, “goodwill” is classified on a balance sheet as an intangible asset. This asset arises when an existing business is acquired and the market value of the inventory, plant and equipoment and other assets is less than the value paid for the business. So, “goodwill” on the balance sheet represents assets that are not separately identifiable. Per a nice description in Wikipedia – technically, it is not “identifiable assets that are capable of being separated or divided from the entity and sold, transferred, licensed, rented, or exchanged, either individually or together with a related contract, identifiable asset, or liability”. Many readers might be familiar with the concept of asset-strippers or corporate-raiders. These are typically investors that buy companies for their assets and not for the goodwill. They’ll then systematically liquid parts or assets within the company they acquire because the sum of the market value of the assets is greater than the balance sheet value. You could argue that there is negative goodwill in such organizations because the value of the business is greater when liquidated than running it as a unified going concern.  Goodwill also does not include contractual or other legal rights regardless of whether those are transferable or separable from the entity or other rights and obligations. Per accounting standards, goodwill is evaluated periodically for any possible impairment in value.

Pretectum believes that the best way to manage your customer master data assets is with a centralized master data management platform like the Pretectum cloud-based C-MDM.

The Leasehold Reform (Ground Rent) Bill becomes law

The Leasehold Reform (Ground Rent) Bill received royal assent on 8 February 2022 and became law. The Act, which the government describes as “one of the most significant improvements to property law in a generation” will abolish ground rents for qualifying residential long leases once the Secretary of State for Levelling Up, Housing and Communities has […]

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Agency workers and the right to be notified of job vacancies

Agency workers have a ‘day one’ right to be notified of job vacancies to the same degree as direct workers of the employer/hirer; this is established by Regulation 13 of the Agency Workers Regulations 2010 (AWR). But does that right to be notified also extend to a right to apply and to be considered for […]

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