CRM business solutions are the software based applications that support CRM programs.
The phrase "CRM business solution" typically refers to the software database applications on which customer relationship management (CRM) programs are built. CRM is a prominent 21st century business marketing system used by companies to enhance relationships with key customers, which lowers costs and drives higher revenue. Many software solutions exist, and companies must determine which programs best fit their core business needs for CRM.
Basics
With CRM, emphasis is placed on the way companies use technology to analyze customer relationships and to improve the total customer experience. Though technology alone does not make companies better, software helps facilitate necessary components of CRM, including collection of customer data and organization of customer information. At a minimum, good CRM software allows for tracking of sales from point of contacts through completion of sale.
Contact Management
Prior to its evolution as a more company wide complete business marketing system, CRM was considered a better way to manage leads and customer contacts. Some CRM business solutions center on this basic aspect of storing customer contacts and their information. This enables salespeople to keep track of prospects, customer status, results of meetings, and more details about customers. This improves selling efficiency and relationships. CRM sales and service employees can quickly retrieve customer accounts for use in problem solving and add-on sales opportunities as well.
Reporting
Higher level CRM programs tend to allow for instant reporting. With company-wide programs, sales employees and others involved in the customer relationship (market, service, support, billing) should have access to reports on customers and their relationships within the organization. With CRM, sales managers have more ability to monitor sales activities to take advantage of all opportunities. Reporting capability helps throughout the sales process from initial prospect evaluation, sales and service support, to follow up and referral opportunities.
Sales Force Automation
Another type of CRM software solution is known as sales force automation (SFA). As part of reducing costs and improving sales efficiency, many companies attempt to incorporate SFA capabilities in CRM software. The key is to automate business processes that technology is useful for without losing the understanding that people must implement the effective relationship building aspects of CRM. The time involved to implement an SFA infrastructure varies greatly, from weeks to over a year in some cases. Larger companies usually face more expensive and timely technology buildup.
Tags: business marketing, business marketing system, business solutions, customer contacts, customer relationship, marketing system