How To Calculate Customer Support Margin in BQE CORE Suite | Arithmix
Learn how to calculate customer support margin in BQE CORE Suite with our step-by-step guide. Increase your profitability and improve your customer service with these valuable insights.
Calculating customer support margin is an important aspect of running a successful business. It helps you understand the profitability of your customer support operations and identify areas where you can improve efficiency and reduce costs. In this article, we'll explore what customer support margin is, when it's valuable to calculate it, and how you can calculate it using BQE CORE Suite.
What Is Customer Support Margin?
Customer support margin is a measure of the profitability of your customer support operations. It takes into account the revenue generated by your customer support team and the costs associated with providing that support. The margin is calculated by subtracting the total cost of providing customer support from the revenue generated by that support.
The cost of providing customer support includes salaries and benefits for support staff, software and hardware costs, training and development expenses, and any other costs associated with providing support. The revenue generated by customer support includes any fees charged for support services, as well as any additional revenue generated as a result of providing excellent customer support, such as increased customer loyalty and repeat business.
When Is It Valuable To Calculate Customer Support Margin?
Calculating customer support margin is valuable in a number of situations. For example, if you're considering outsourcing your customer support operations, calculating the margin can help you determine whether outsourcing would be cost-effective. It can also help you identify areas where you can improve efficiency and reduce costs, such as by implementing new software or training programs.
Additionally, calculating customer support margin can help you track the success of your customer support operations over time. By regularly calculating the margin, you can see whether your support team is becoming more efficient and generating more revenue, or whether costs are increasing faster than revenue.
How to Calculate Customer Support Margin Using BQE CORE Suite
BQE CORE Suite is a comprehensive business management software that includes a number of tools for tracking and analyzing financial data. To calculate customer support margin using BQE CORE Suite, follow these steps:
- Open the BQE CORE Suite dashboard and navigate to the financial reports section.
- Select the customer support margin report from the list of available reports.
- Enter the relevant financial data, including revenue generated by customer support and the costs associated with providing that support.
- Click "calculate" to generate the customer support margin report.
The customer support margin report will provide you with a detailed breakdown of the revenue generated by your customer support team, as well as the costs associated with providing that support. It will also calculate the customer support margin, giving you a clear picture of the profitability of your support operations.
By regularly calculating customer support margin using BQE CORE Suite, you can track the success of your support team over time and identify areas where you can improve efficiency and reduce costs. This can help you run a more profitable and successful business.
How Do You Calculate Customer Support Margin in BQE CORE Suite
BQE CORE Suite itself isn’t naturally geared towards letting you calculate complex metrics like Customer Support Margin. As an alternative, teams typically use products like Arithmix to import data from BQE CORE Suite and build out dashboards.
What is Arithmix?
Arithmix is the next generation spreadsheet - a collaborative, web-based platform for working with numbers that’s powerful yet easy to use. With Arithmix you can import data from systems like BQE CORE Suite, combine it with data from other systems, and create calculations like Customer Support Margin.
In Arithmix, data is organized into Tables and referenced by name, not by cell location like a spreadsheet, simplifying calculation creation. Data and calculations can be shared with others and re-used like building blocks, vastly streamlining analysis, model building, and reporting in a highly scalable and easy to maintain platform. Data can be edited, categorized (by dimensions) and freely pivoted. Calculations are automatically copied across a dimension - eliminating copy and paste of formulas.
Arithmix is fully collaborative, giving your entire team access to your numbers and the ability to work together seamlessly.
Calculating Customer Support Margin in Arithmix
Calculating metrics like Customer Support Margin is simple in Arithmix. Once you've created your free account, you’ll be able to import your BQE CORE Suite data, and use it to create natural language formulas for metrics like Customer Support Margin.
Arithmix is designed to give you the power to build any calculations you want on top of your BQE CORE Suite data, while also being easy to use and collaborate on. You can share your dashboards with users inside and outside of your organisation, making it easy to empower your whole team.Use Arithmix free