The Benefits of using Eircode for Businesses
Eircode as a postcode system was introduced in Ireland in July 2015. Unlike regular postcodes which define a large cluster of properties, Eircodes are unique to every property in Ireland.
It is the first public database of unique identifiers for all addresses in the country to aid citizens, businesses and public bodies to locate every individual address. Eircodes essentially remove the hassle and mistakes associated with finding a specific address in Ireland.
While there are many benefits of consumers using Eircode for personal use, they have many purposes for businesses. Below are some of the main benefits of using Eircode to aid your planning, efficiency and marketing efforts to create a more streamlined customer experience.
How does Eircode work?
Each home, business and government agency have an Eircode. The Eircode itself is made up of 7 characters (i.e. D02 N403) divided into 2 parts. The first 3 characters are known as the ‘Routing Key’. These are typically shared by a cluster of properties in the same area.
Routing keys aren’t directly linked with town or county names. The exception to this is in Dublin, where the first 3 characters are the postcode.
The following 4 characters are a mix of numbers and letters that act as a unique identifier for specific addresses.
1. More Accurate Address Capture
It’s estimated that 35% of addresses in Ireland share their address with at least one other property. Prior to the introduction of Eircode, ordinary addresses made it difficult for those delivering goods and services to identify the exact location they’re looking for, especially in areas where multiple properties share the same address.
With a unique Eircode for each address in place businesses can more accurately and reliably find these addresses.
2. Better Database Management
With addresses constantly being added into databases from different sources there’s often the possibility that duplications and overlapping will occur. With an Eircode appended to each address however, database records can be cleaned, combined and de-duplicated.
A cleaner database results in more targeted and effective marketing campaigns for businesses. Similarly, it also reduces the costs associated with undelivered or repeat mailings.
3. Faster Location Customer Service
Modern customers expect customer service to be fast and efficient. Eircodes allow businesses to provide a much quicker experience for those in need of customer service. This is especially important for utility and telecommunication companies where location-based customer service is necessary.
Customer service agents using customer records with Eircodes included can easily pin-point exact locations, ensuring field technicians can find addresses with ease.
4. Improved Fraud Detection
With Eircode, organisations will be able to undertake better risk assessments based on location. With a better understanding of customers and their location, organisations will have improved accuracy for checks against other databases. In turn, this improves the organisation’s ability to detect fraud.
Better risk assessment and fraud detection is especially important for banks and insurance companies.
5. Better Logistics & Future Planning
Logistics planning is especially important for any business that revolves around delivery services. A unique Eircode will ultimately make it much easier for couriers to find the address they’re looking quickly, improving efficiency.
Whether you’re planning within a public or private organisation, Eircode can aid the better planning of future services. Improved location-based planning benefits both the organisation and its customers in multiple ways, including service improvements.
The benefits of Eircode can be found in different industries including telecommunications, utilities, government, financial services and retail.