What is Customer Onboarding Time?
Customer onboarding time refers to the duration it takes for a new client to go from signing up for a service to becoming a fully-engaged and operational user.
In the context of Professional Service Automation (PSA), it’s the period between a client’s initial interaction with the software to when they’re fully utilizing its features for their business operations.
Importance of Customer Onboarding Time
A shorter onboarding time can lead to:
1. Higher Client Satisfaction: Clients want to see value quickly. A streamlined onboarding process means they can start benefiting from the software sooner.
2. Increased Retention Rates: A smooth onboarding experience can reduce early-stage churn.
3. Better Financial Outcomes: Faster onboarding can lead to quicker revenue recognition, especially in a subscription-based model.
In the realm of PSA, where businesses rely on the software for critical operations like finance, resource management, and project management, efficient onboarding is even more crucial.
Why Customer onboarding time is so important?
Calculating Customer Onboarding Time
Customer Onboarding Time = Date of Full Software Utilization − Date of Signup
If a client signs up for KEBS on January 1st but only starts fully utilizing its project management and finance tools by January 15th, the onboarding time is 15 days.
Customer Onboarding Time vs Other Metrics
1. Customer Onboarding Time vs Time-to-Value (TTV): While onboarding time focuses on software utilization, TTV measures the time it takes for a client to see tangible value from the product.
2. Customer Onboarding Time vs Customer Training Time: Training time is a subset of onboarding time. It’s the duration dedicated to educating the client about the software, like how to use ticket management or deal management features.
|Customer Onboarding Time
|The time it takes to onboard a new customer, including initial setup, training, and integration.
|Critical, as it directly impacts revenue and customer satisfaction. Longer onboarding times can lead to customer dissatisfaction and potential revenue loss.
|Project Completion Time
|The time taken to complete a professional service project, from initiation to delivery.
|Important for assessing operational efficiency and project profitability. Longer project completion times may lead to increased costs and resource allocation.
|Measuring customer feedback and satisfaction scores, typically through surveys or direct feedback.
|Crucial for maintaining long-term customer relationships and obtaining referrals. Satisfied customers are more likely to renew contracts and recommend your services.
How Customer Onboarding Time is Used in PSA?
In PSA, understanding and optimizing customer onboarding time can:
1. Improve Resource Allocation: By understanding how long onboarding takes, businesses can better allocate resources.
2. Enhance Client Relationships: A focus on efficient onboarding shows clients that their time is valued. This can lead to better client relationships and trust.
3. Drive Product Development: Feedback during the onboarding process can provide insights into areas of the software that may need improvement, such as the proposal builder or employee 360 features.
Ready to Optimize Your Customer Onboarding Time?
KEBS, as a leading PSA software, offers tools and features that streamline the onboarding process. KEBS is designed with the user in mind, ensuring that clients can navigate and utilize features like sales pipeline management with ease.
The KEBS team is always ready to assist clients, ensuring that any challenges faced during onboarding are promptly addressed.
Ready to experience a seamless onboarding process and harness the power of PSA for your business? Contact us or request a demo today!