CRM - Need of the Hour

In last three articles, I have been expressing my personal views on Business Application Software's and Automation of the Business processes for the industries. I have briefly touched the topic of CRM, in my last article. This article is dedicated to 4 W's (What, Why, When & Who) and 'H' of CRM Only.

At the outset, let me quote that, features discussed and products referred (if any) in the following article, is purely to express my personal views and is not for advertising of any products or services of any one. Resemblance, if any, is and should be taken as a coincidence.

Why ERP
Customer Relationship Management, abbreviated as CRM, is one of the many ways or approaches, different organizations, uses to visualize, introspect, gather, analyse and manage their interactions with existing or 'Would Be' customers.

When me or some one talks about CRM, many of the people and organizations look at it (CRM) as merely a software tool to automate some of the processes related to customers in the business. Unfortunately, it is not correct. CRM should be looked upon, as a concept and the set of activities or the processes to be implemented in the organizations either in the form of manual efforts or automated tools to optimize their profits and customers.

Broadly speaking, CRM can be classified into two types.
Strategic CRM - Basically, this type of CRM, concentrates upon, building up the 'Customer Centric' strategies and processes in the organization. Moreover, it lays down the foundation for building up the 'Customer Centric' culture of the organization.

Operational CRM - On the other hand, this type of CRM, concentrates upon managing the day to day activities in relation with the interactions with 'Customer'.

Why 'CRM' ?
Many of the organization's build or implement CRM, for following reasons:

• Understand that 'Customer' is a 'King'.
• In a stiff and cut-throat competition, We have to implement 'Buyer's Market' philosophy.
• Strengthen the bonds with the customer
• Increase and optimize organization's profitability, by streamlining the administrative activities
• Present and project the 360 degree's view of the customer.
• Imbibe transparency with the customers
• Implement 'Self Service' approach with customers.
• Foster the 'Leads and Opportunities'
• Make informed decisions (backed up by Data)
• 'Effortless Customer Service' through any channels.

Who should Use / Implement 'CRM' ?
Broadly speaking, following categories of organizations should implement CRM:

• Small Business looking to 'Grow'.
• Industry leaders wanting large-scale solutions.
• B2B organizations, which typically, need to track leads customers across the Sales Cycle.
• B2C organizations.

When to Use or Implement 'CRM' ?
Many people will have different suggestions, solutions and action plans based of different school of thoughts. All of those may be correct, in their own opinions and thinking. Personally, I feel, that a best time of implementation, of CRM Initiatives would be, when the organization has put in place all the standardized processes, have implemented the ERP system and have started reaping the benefits of the ERP. My suggestion is based on following:

• Clean the house first
• Establish the proven standard processes.
• Establish maintainable end to end process timings.
• Optimize and maintain 'Time to Market'.
• Understand, that a 'Failed Commitment' is a 'Lost Customer'.

Benefits of Implementation of 'CRM'

• Create a single storehouse for customer data
• Provide greater visibility into sales, marketing and customer service processes
• Help optimize customer communications
• Shorten sales cycles
• Improve customer retention
• Increase customer satisfaction
• Increase operational efficiency

To Summarize:
Consumers today expect a personalized customer experience catered to them as individuals. In order to meet these expectations, Organizations need to understand, what their audience wants and needs, and you must understand how to deliver on those needs better than your competition. Understanding and building these capabilities in step by step manner is implementation of CRM Processes. These processes can be automated to a large extent to cut down on end to end process time.

Something about ShriSoft:
We, at ShriSoft, help our clients to analyse, and decide upon their needs and business processes of the CRM. WE also help the client in automating the same.
ShriSoft starts by looking at the strategic and operating drivers for CRM Implementation in client's organization. Thrust is given by taking into consideration three basic principles

• 'Customer First'
• Customer Information on 'Tip of Tongue'
• Build the organization to move towards 'Digital Operations'

Link:
https://www.linkedin.com/posts/shriniwas-tilak-a9565b18_crm-need-of-the-hour-activity-6692771487033688064-DxkS