What if organizations had a system that could keep a track of all the business activities? The life of business executives would be so easy. Well, credits to technology that now we have a CRM System that provides specific CRM software and CRM applications available to solve this problem.
Let us explore more about this ‘all in one solution to businesses.
What is the CRM system?
CRM stands for Customer Relationship Management. It is the technology used to manage interactions with potential and existing customers. A CRM system allows the organization to build customer relationships and streamline procedures to increase sales, improve customer service, and increase profitability.
The software accumulates customer data from multiple channels and stores detailed information on overall purchase history, personal info, and purchasing behavior patterns. The CRM system helps with contact management, sales management, workflow processes, productivity, and more.
CRM enables us to focus on the organization’s relationships with individual people like customers, service users, colleagues, or suppliers. It is not restricted to sales but comes with the gains in productivity such as a sales and marketing tool and embedding it in the business – from the HR executive to customer services and supply-chain management.
What does the CRM system do?
A Customer Relationship Management (CRM) system majorly helps in managing customer data. It further supports sales management, delivers actionable insights, and incorporates with social media, and facilitates team communication. Cloud-based CRM systems offer complete flexibility and access to an ecosystem of personalized apps.
This technology allows both large and small businesses to coordinate, automate, and synchronize every aspect of customer interaction. Examples include marketing, sales, customer service, and support.
Difference between CRM solutions, CRM systems and CRM software
They might seem similar terms and are used interchangeably, therefore, let us make a clear distinction in what they are.
Refers to functionalities that permit the users to track customer and company interactions through the numerous available channels like contact forms, emails, phone calls, etc.
Offers tools to manage the entire sales and marketing channel, from lead qualification to opportunity management, forecasting, and deal closure. The software empowers customer service teams to handle customer requests and automate service operations by adhering to predefined processes for excelling customer care.
Equipped with tracking features that record several customer interactions online. Additionally, CRM automates routine processes and supports managers with tools that allow for the tracking and measuring of a company’s performance and productivity. The best part about the CRM system is that it also offers analytics capabilities, thus, allowing users to track the efficiency of marketing plans to generate leads and conversions.
Types of CRM software
The CRM software can be classified broadly based on On-premises and cloud-based.
Companies carefully contemplate the way they implement a CRM system to make sure it meets the business objectives. With on-premises CRM, a company is supposed to purchase the licenses in advance. This type of CRM software possesses a good choice for organizations with strict security policies, but in cases like these, the implementation process is more time consuming and highly IT resources dependent. Though, it is the purchaser’s task to ensure frequent maintenance of the on-premises system, as the vendor holds zero responsibility for its operations and data security post the implementation stage, the vendors still provide technical support and deal with the critical issues.
On the other hand, software-as-a-service (SaaS), cloud or on-demand CRM, stores data on the vendor’s servers. On cloud-based CRM software, the users have complete access to the database all the time irrespective of where the user is. The best part of cloud-based CRM software is that the vendor takes complete responsibility for the smooth operations of the system and offers all the necessary system updates and support.
The Cloud-based CRM software is highly scalable, an organization can easily enlarge its functionality as per growing business requirements. The only requirement for cloud-based CRM system accessibility is a strong internet connection, complemented by an affordable monthly or annual fee.
Top 5 CRM applications for 2021
Let us explore the top 5 CRM applications for 2021 that businesses have been enjoying using.
This is a global cloud-based software company. It is the creator of the web application and mobile app Pipedrive, a sales customer relationship management (CRM) tool.
This is an Indian web-based online office suite. It offers services like word processing, spreadsheets, presentations, databases, note-taking, wikis, web conferencing, customer relationship management (CRM), project management, invoicing, and other applications.
Develops cloud-based customer relationship management (CRM) and project management tools for small and medium-sized businesses. It uses a freemium model to distribute its CRM and project management tools to customers.
Are a web and mobile customer relationship management (CRM) service. It consists of a web application, as well as mobile applications for the iOS and Android platforms.
The CRM system, CRM software, and CRM solutions are serving as a blessing to businesses of all categories and sizes. The CRM applications further give a specific approach according to business requirements and making executions and management easier.