Businesses need to ensure that customer address data is up to date by carrying out regular verification checks.
An article for Accounting Web highlights the importance of making sure that customer information is correct, with the verification of addresses described as the "foundation of the confirmation process".
The report explains that risk and associated business costs can be reduced by simply ensuring that address data is correct.
Indeed, it recommends that businesses utilize some form of address verification to keep incorrect data to a minimum.
"When performing and relying on tests of controls include customer address verification as one of the procedures for the sales and collection cycle," it states.
"Address verification can be performed in numerous ways to provide some evidence about a customer's existence."
Software expert Calvin Couris noted on his Boosh News blog that businesses can improve their customer relationships by utilizing address verification software.
The expert claimed that by cutting down on unnecessary costs associated with incorrect delivery details organizations would save their customers money.
Posted by Paul Newman