MARCOS, NYKA KHRISTINE P.

History or background of the company.

MELHAM CONSTRUCTION CORPORATION (MCC), first registered on February 2020

in the Philippine government situated at no.27 commonwealth avenue Diliman north Fairview
Quezon City.
The main goal is to cater the growing demand of industrialization of the country.
Following the trends and demand of latest innovation in construction engineering, the company
is committed in providing services following its core values.
Melham Construction Corporation (MCC) cater broader scope dealing with vertical
project such (Structural, Fit out works), Horizontal Project such (Roads, Highways and bridges),
Telecommunication such (Cell site erection) and Technology such (Installation of fiber optics,
SLI and ODN).

ANAFARA currently has strategic partners in different industries. We are specialized in

providing supplies for wholesale market and retail products.
ANAFARA makes sure to meet your needs. We create value by applying our in-depth,
specialized knowledge and drawing on lessons learnt. We offer to ease the
everyday tasks of the business community through our A-to-Z solutions. ANAFARA is the head
cosmetic manufacturer of La Bonita and Tinta Beauty PH.

Proper Approach Towards Building Good Customer Relationship

Building trusting client connections takes into account all interactions along the customer
journey as well as other elements that might impact a customer relationship. Businesses should
develop strategies to create client connections while focusing on a holistic strategy to customer
success.
In order to do the same, here are 10 key factors that any business should consider for their
customer relationship strategies.

1. Spare no effort to exceed customer service expectations

Building long lasting customer relationships is a smart move from a marketing standpoint. It also
helps you to anticipate your customer needs, perform ongoing adjustment actions to improve
your business and exceed their expectations.

InContact study found that consumers were generally positive with proactive service. Real
time support is one key attribute of providing a great customer experience. It is a win-win
formula for businesses to exceed customer service expectations and create a good impression. 

Here are some of the best practices to exceed your customer expectations:

  Deliver real time support – You can deliver real time sales and support assistance to
your customers with live chat. You can gain insights and understanding of the customer
journey and deliver proactive support to enhance the customer experience.
 Connect with your customers – Allow your support team to connect with your
customers and understand their needs and feedback. Empower them to fulfill their needs
and deliver a great experience.
 Make your customers feel special – Go an extra mile to deliver the meet and exceed
your customer expectations. Send a thankyou note to your customers. It will have a
positive impact on your brand reputation and increase customer loyalty

2. Personalize customer relationships

Keeping your customers happy and satisfied is important for all businesses. Connecting with
your customers on a personal level is the key to establishing a long and trustworthy relationship
with your business.

According to Monetate, 79% of organizations that have exceeded revenue goals possess a

documented personalization strategy. 
Personalization increases loyalty, drives higher conversions, and ultimately increases revenue. 
It is understandable that the path to the personalization for some companies is challenging and
as a result, marketers have created segmentation strategies rather than building a truly
personalized experience.
Consider the below steps in order to build strong customer relationships and achieve brand
success:

 Match your tone with your customer personality – Some customers prefer short
conversations and some like lengthy ones. You can learn about your customer
personalities. It will help you to know how to speak and personalize relationships with
them.
 Use advanced customer engagement tools – With live assistance tools like co-
browsing & video chat you can collaborate with your customers in real-time and identify
issues faster. You can deliver effective personalized solutions in the first contact. With
direct communication, you can build friendlier customer relationships.
 Know your customer preferences – Listen to your customers to identify their needs.
Try to learn their preferred contact channels, and how they would like to be addressed.
Give your customers the option to choose while enabling them to opt-out when they
wish. Knowing your customers’ preferences personalizes the experience and builds their
confidence in your brand.

3. Understand customer psychology

The essence of customer service psychology relates to customer satisfaction. When you
understand your customer needs thoroughly is when you are able to boost customer satisfaction
rates. Customers expect to be valued, listened, cared about their problem and want assurance
that the same won’t be repeated in the future. 
Customer psychology can be analyzed and understood based on their behavior and emotions
that will help you to serve them better. The main benefits your brand can gain by understanding
the psychology of customers are:

 Customer loyalty – when customers are satisfied with your service they become your
loyal customers and be associated with your brand. 
 Brand advocacy – when you know your customer’s preferences, interests you can
personalize your conversations and build a strong customer relationship. Later, share
their success stories and advocate your brand. 
When a customer reaches out to you with a complaint or problem, their expectation is to be
heard and get the problem fixed as soon as possible. They expect an attentive ear who
acknowledge their problem and deliver the right solution. 

4. Prioritize customer experience

Customer experience is an integral part of strategies to maintain customer relationships. Brands
with superior customer experience bring in 5.7 times more revenue than competitors that lag in
customer experience.
The three invaluable benefits of building customer relationships that any business can witness
are customer loyalty, retention, and referrals. They have a direct impact on the revenue of
your business. When customers become loyal, their lifetime value increases, and there are
chances of recommending you to potential new customers. 
Happy and satisfied customers remain loyal. Understand the customer journey and try to deliver
consistent customer experience across the whole lifecycle. The happier are your customers,
they will retain your business.
This is why delivering superior customer service becomes crucial for business. Qantas Airlines,
in order to streamline its operations invested in customer experience and set a great example
for other brands. 

 Qantas started offering free Wi-Fi on flights that are a rare service.
 Unveiled a faster, streamlined baggage check-in process. 
From flight booking to checking a bag, every aspect of a customer’s journey with Qantas was
improved. 

5. Create value for customers

How do you hook a customer for a lifetime?
As a brand, you need to focus on creating value for your customers. And you can do so by

 Understanding your customer needs – Listen to what your customers say, their
actions and reactions to understand what is important for them and look for the
opportunities you can help them.
 Build communities – Communities can have a tangible impact on key business
performance indicators. Businesses gain a significant rise in operational efficiency,
 revenue generation, and customer satisfaction. Hence, customer communities can be
identified as one of the primary techniques to build customer relationships.
 Understand your value proposition –  You have to understand what value does your
products or services create for your customers. What will be the cost for them in terms of
usage?
 Invest in your valuable customers – Allocate your business growth towards new
products and solutions that serve your best customers. Customers are the lifeblood of
your business. They are the source of current profits and the foundation of future
growth. 
 Educate customers – Businesses adopt various marketing ploys to lure prospects.
Customers are more likely to trust those brands that make an effort to enhance their
knowledge about their products or services. Research states that educating customers
strengthens their trust in an organization, and it can act as an important service
differentiator for brands.

6. Instill customer service etiquette 

62% of consumers worldwide mentioned they have stopped doing business with a brand
after a poor customer service experience. This makes integration of customer service
etiquette crucial in every facet of your business as delivering superior service is the best way to
strengthen customer relationships.
Some key customer service etiquette that you can follow are:

Use positive words and phrases

Customers generally switch brands, when they feel the agents are untrained or rude. 70% of the
customer’s journey is dictated by how the customer feels they are being treated.  Using the
right phrases and words to interact with customers is one of the important aspects of customer
service. Your words create the first impression that goes a long way. 
Positive phrases like – My apologies, I am sorry should be used and negative phrases like – I
don’t know, No problem should be avoided.

Practice active listening

Always listen to what your customers say. Make the best use of every opportunity to make your
customers feel comfortable, valued, and appreciated. Listen completely, without interrupting
what your customers have to say helps to identify the exact problem.
Listen actively helps to figure out what exactly your customers want, their opinions, feedback so
that you can meet and exceed customer their expectations

Offer gratitude 
The two mere words ‘thank you’ can do miracles when it comes to customer service. When you
use words like “Thank you” and “Please” graciously, it develops a feeling of being appreciated
and the bond becomes strong between the business and customers. 
Show empathy
Dealing with customers, especially when they are having a complaint or facing any issue, can
be resolved much faster and easier by using empathetic statements, being patient, and showing
consideration. 
Using statements like “I realize how complicated it is to…” or “I’m so sorry to hear that…” can
help to build a rapport by expressing genuine empathy.

7. Provide multi-channel communication approach

Do your customers know they can reach you with what they need to? Do they know how?
Strong customer relationships require active communication. It means your customers need to
be comfortable reaching out. 
Let your customers know if you are best reached by email, live chat, social channels, text
message or other forms of communication. You should also know how they prefer to be
contacted and be actively available to deliver a consistent experience across all the channels.
Here are some tips on identifying the channels 

 Understand your target audience – You need to start working out on what platforms
your customers are using and how they prefer to interact with brands.
 Choose the right communication channels – Whichever channel you opt for, the
overall goal should be in driving conversion and also working in tandem with the other
channels to provide a consistent and unified experience to customers.
 Focus on brand engagement – In order to sell your brand and create real longevity,
you will need them to interact with you. You should focus on conversational engagement
across all channels customers reach out to you.
 Tailor your approach for channels – A truly successful multichannel strategy needs
content specifically tailored to suit each channel. Ensure to make the content different,
but the message is consistent.

8. Use Customer Relationship Management (CRM) management tools

CRM is a customer-focused business strategy designed to optimize revenue, profit and
customer satisfaction. The more you understand your customers, the easier it is to target new
prospects and boost sales.
Customer relationship management can act as a powerful tool that helps in recording your
customer’s product likes and dislikes, their spending patterns and their location, age, and
gender. The CRM software enables you to build up a detailed profile of their tastes, needs and
buying habits.
A CRM system can benefit your business by helping you centralize, optimize and streamline
your communications with customers and enhance the below areas:

 Gain insights about your customers

 Segment customer base in a better way
 Anticipate their needs & interests
 Increase customer retention rates
  Faster communication with customers
By using CRM tools like Hubspot, Salesforce, Infusionsoft, you can identify your most profitable
customers, for example, or promising prospects, and target them with marketing messages and
offers devised just for them.

9. Appreciate loyal customers

How to maintain good customer relationships?
One good way is by appreciating your loyal customers.
Loyal customers are like assets to your business. They improve your brand image by turning as
brand advocates by good word of mouth. According to Motista, customers with an emotional
connection to a brand have a 306% higher lifetime value, stay with the brand for a longer
time, and will recommend at a much higher rate.
Businesses should go the extra mile by building consumer delight ideas and show appreciation
to loyal customers through the following ways:

 Incentivize – Offer discounts, free products, special buying opportunities, offer price
reductions to loyal customers shows that you value them.
 Premium service – You can offer premium services to your loyal customers like – co-
browsing, video chat, chatbot support. 
 Early access – Early Access program is a reward to loyal customers to give them
something exclusive.
Sephora’s Beauty Insider rewards program is globally popular. 

 The program records more than 17 million loyal members, and members make up as
much as 80% of Sephora’s annual sales. 
 Customers earn rewards for each purchase based on a traditional point system. 
 The best part is that members can choose how to use their reward points.

10. Acquire customer feedback and act on it

Obtaining customer feedback is one of the techniques to build customer relationships. 
In order to serve your customers well, you need their feedback and opinion on what you are
doing and what needs improvement. Your customer is the best source of information who can
provide you a genuine picture of your product or performance.
The tips you can follow for collecting customer feedback and acting on it:

 Establish a regular feedback loop in which you ask customers to let you know what is
working. This shows them that you are there to understand & serve their needs, not just
to build your client base.
 You can ask feedback at the right time such as after the service conversation ends, after
a support ticket is resolved or a product demo to gain the most genuine feedback.
 You need to obtain customer feedback effectively. Further, categorize and discuss the
feedback with respective departments and implement their suggestions. They feel
valued and show them that you are listening to them. 
Customer feedbacks not only brings in the scope of improvement in the business but also l
strengthen customer relationships over time.

Final thoughts 
Building customer relationships is a critical business objective across the globe. If you want to
improve brand engagement, give reasons to your customers to emotionally connect with you. 
Practically go beyond CRM and adopt techniques to build and maintain good customer
relationships. The above-mentioned customer relationship strategies will help you to solidify
your relations with customers and create a strong foundation that will help you grow your
business to new levels.
Every business is different, but the core essence of success is the same.
 

1. Which accounting platform have you worked on?

None, I don’t have any experience working in accounting platform.

2. Which one do you prefer the most?

I never worked as an accountant but I prepare QNE SOFTWARE. QNE offers the
most comprehensive, simple and user-friendly accounting system for local businesses in
the Philippines. The QNE Accounting System is the latest in technology with real-time
proven software that comes with SQL Client/Server database and an option to maintain
the database through Cloud. QNE is the Philippines’ No. 1 Cloud accounting system.
You are also provided with analytic tools such as cash flow status, stock break-even
point, stock with no movement and more to assist your business growth.
If you are looking for the best inventory software to fit your small businesses or
SME, they have the right tool for you. With QNE Inventory user-friendly interface and
functions, users are able to manage their inventory easily such as creating invoice,
invoice management, stock balance management, goods management, goods category
 management, staff sales records management and staff permission management,
backup and restore stock and many more.

3. What is working capital?

Working capital, also known as net working capital (NWC), is the difference
between a company's current assets (cash, accounts receivable/unpaid bills from
customers, raw material and finished goods inventories) and current liabilities (accounts
payable and debts).
Working capital is a metric that measures a company's liquidity, operational
efficiency, and short-term financial health. If a company has significant positive working
capital, it should be able to invest and grow. If a company's present assets do not equal
its current liabilities, it may have difficulty growing or repaying creditors, and it may even
go bankrupt.

4. How do you maintain accounting accuracy?

You must be specific in your postings. A chart of accounts must be available, and
transactions must be documented in the correct quantities and accounting periods.
Supporting paperwork must be kept on file; All transactions must be recorded in a
general ledger. Accounting inputs should be double-checked for accurate classification;
a trial balance should indicate that debits and credits equal the same amount.

5. What are the common mistakes in Accounting/Finance/Business Management?

Data entry errors
Data entry errors are mistakes that are made where and how items are entered (or not) in your
accounting system. Some common data entry blunders include:

 Entering items in the wrong account.

 Transposing numbers.
 Leaving out or adding a digit or a decimal place.
 Omitting or duplicating an entry.
 Treating expenses as income or vice versa.

Error of omission
This is simply a failure to record an item. It's not intentional; it's just overlooked. For example, an
invoice is paid but you fail to note receipt. Or you purchase a tablet but don't record this in your
accounting system. This can easily happen if you misplace documentation—a receipt or invoice
—so that it never gets recorded.

Error of commission
This is mishandling an item by putting it in the wrong place. The amount you enter is correct,
and you even put it in the right general account, but you then use the incorrect sub-account. For
example, you receive payment on an invoice but note the receipt against a different customer's
invoice. Your total payments come out right for accounting purposes, but what's shown for a
particular customer is wrong.
Error of transposition
This error is recording the incorrect amount of an item by reversing numbers. This can cause
overstating or understanding the amount of an item, which is the result of transposing a number.
For example, instead of entering an expense as $946, you erroneously enter it as $496. This
produces $450. An error like this can be costly if it is a deductible amount that isn't claimed
because of the entry error.

Compensating error
This error is really two that occur at the same time; one offsets the other. Because the net effect
is zero, it is difficult to detect. For example, you erroneously overstate income by $1,000, but
you also overstate an expense by a like amount so it all evens out even though both entries are
wrong.

Error of duplication
This occurs when you enter the same item of income or expense more than once. For example,
such an error can happen when more than one person has access to the accounting system
and each makes the same entry.

Error of principle
This error is recording an item that does not comport with Generally Accepted Accounting
Principles (GAAP). Usually, this happens when an entry is made in the wrong account. The
amount is correct but is simply entered in the wrong place. An error of principle is a serious
procedural mistake because it can have big consequences. The most common example of an
error of principle is recording an owner's personal expense as a business expense.

Error of entry reversal

This is the result of treating an expense as an item of income or vice versa. Instead of recording
a $250 invoice in your accounts receivable, you erroneously put it in accounts payable (i.e., you
record it as an expense).

6. Are you familiar with the Accounting/Finance/Business Management standards?

Even if you’re never worked before?
Yes, because we have a subject called Accounting Principles in which we study it. As a
result, I'm familiar with it.

7. What do you think about Accounting/Finance/Business Management standards

are mandatory?
Accounting standards are required for businesses in order for their financial
statements to be comparable to those of other businesses. Accounting Standards are
required to be observed by all organizations under the Companies Act. It is done to
ensure accounting uniformity.
Accounting standards govern when and how economic events should be
recognized, measured, and displayed. Accounting standards are used by external
entities such as banks, investors, and regulatory authorities to guarantee that relevant
and correct information about the organization is delivered.
8. How Important is documentation when it comes to Accounting/Finance/Business
Management?
Documents offer a financial record of each occurrence or activity, ensuring
transaction accuracy and completeness. Expenses, income, inventories, people, and
other forms of transactions are all included. Proper documentation gives evidence of
what happened as well as information for investigating discrepancies.
Supporting documentation might be in either paper or electronic format. In recent
years, official supporting documentation has increasingly shifted from paper to electronic
forms. Keep in mind that electronic processing and approvals are sometimes the source
papers for transactions.
Accounting system documentation should present decisions as the system is
implemented. Many systems provide for a great deal of flexibility, and with that freedom
comes the need to make judgments. Documentation, for example, would explain who
decided how many numbers an account should have and why that choice was reached.