What is Customer Relationship Management (CRM) Software?
CRM stands for Customer Relationship Management. CRM is a data-driven software solution that helps to improve the interactions between your business and your clients. Customer Relationship Management Software helps you manage and maintain client relationships by streamlining administrative processes such as tracking sales leads, marketing and pipeline, and delivering actionable data.
A strong Customer Relationship Management solution is an all-rounded platform where everything crucial to retaining your client’s relationships, developing your business, and improving it is stored. Without a good CRM solution, you may miss growth opportunities and lose revenue because you are not optimizing your operations or making the most of your client relationships or sales lead. By using the feedback loop, CRM is able to guide you in finding the optimal paths to grow your business while focusing on your Sales, Marketing and Service sectors.
In your company, two of your employees might be chasing after the same prospects, resulting in some unfriendly in-house competition and the loss of a client. Or a client record that got misplaced might lead your company to lose the deal to a competitive company. Using Customer Relationship Management software, you can avoid such situations that could lead to a loss for your company.
Business Benefits from CRM Systems
Small businesses looking to grow would benefit greatly from using CRM. By using Customer Relationship Management systems, the burden of IT management on your employees is taken away and the process is automated so that you can focus on what’s important to your business: finding a competitive edge in your marketplace.
Industry leaders who want large scale solutions can simplify and improve even the most complex client engagements with CRM tools that scale to fit your needs perfectly.
Types of CRM Software Systems
There are different software systems that offer a Customer Relationship Management platform that will work well with your business:
Microsoft Dynamics CRM
Microsoft Dynamics CRM is a robust and flexible customer relationship management software package developed by Microsoft. It focuses mainly on the Sales, Marketing and Services (help desk) sectors. Microsoft is encouraging partners to use its once proprietary, now open-source framework (.NET based) to customize it. After being updated, the names and the licensing changed to the current version which is Dynamics 365.
Microsoft Dynamics CRM features modules such as:
Sales for Automation
Customer Service Insight
Why Implement Dynamics CRM for your business
With Dynamics CRM, your business has more options in choosing different access levels that will work well with your business. Dynamics CRM offers the Enterprise level, Professional level, Basic level, and the Essential level. It has a variety of features that will meet all of your sales, marketing, and your client’s service needs.
Interested in Microsoft Dynamics CRM for your Singaporean business? Click here for a free demo now.
Microsoft Dynamics 365 Business Central for Business
Microsoft Dynamics 365 Business Central for Business is a cloud-based Enterprise Resource Planning (ERP) that combines customer relationship management tools, this includes Dynamics CRM online solutions, and Dynamics ERP into a single platform.
The following properties will help you determine whether this product will be beneficial to your business and the impacts it will have on your operations.
Microsoft Social Engagement
Microsoft Power Apps and Microsoft Flow
Business Process Flow (BPF) Enhancement
Artificial Intelligence and Machine Learning
Dynamics 365 has been designed to solve a significant number of problems that are common in businesses. It saves time and streamlines business processes by providing different avenues of monitoring performance and productivity.
Why Implement Microsoft Dynamics 365 for Business Central
With Microsoft Dynamics 365 for Business Central, the CRM software is customizable, flexible, and designed to suit your business requirements. Microsoft Dynamics 365 for Business Central CRM solutions increase your profitability by streamlining administrative processes in your sales, marketing, and service divisions, and letting you focus on building and maintaining the client relationships that matter.
Interested in Microsoft Dynamics 365 for Business Central for your Singaporean company? Click here for a free demo now.
Sales Insights for CRM
While using Customer Relationship Management software, sellers would find that they are spending too much time updating CRM and would prefer talking to the clients directly instead of clients asking for more personal and relevant offers.
By using Sales Insights, one of the features available for Microsoft Dynamics 365 Sales, your company will be able to increase seller productivity and personalize your selling approach. Sales Insights brings together sales information via Dynamics 365, communications via Microsoft 365, relationships via LinkedIn, collaborations via Microsoft Teams, and transformed selling via the power of AI and Microsoft Power Platform.
Benefits of Using CRM Systems
Personal To Each Client
Using Customer Relationship Management solutions, your company will get real-time data analysis which in turn will empower sellers to focus more on what is important by personalizing each client’s journey based on user engagement.
By using sales acceleration, sellers can accelerate their sales rhythm, prioritize activities related to future opportunities and engage directly with clients through integrated emails and phone dialer. CRM software also offers relationship intelligence which helps a company to identify, build and nurture its relationships with its clients.
Proactive and Insightful Systems
With Microsoft Customer Relationship Manager sales insights, predictive tools such as predictive forecasting and pipeline intelligence, business owners will grow their organisation through high-quality deals gotten from predictive lead scoring and predictive opportunity scoring. It measures the past and identifies leading indicators for the future giving a company more time to stay focused on finding the right clients, know the next best action to move relationships forward and build a high-performance sales team.
Using Customer Relationship Management (CRM) software, your company will engage and collaborate around strategic deals, deliver personalized engagement to the client’s journey and enable your employees to work anywhere at any time.
Increase Productivity Effortlessly
By using Customer Relationship Management (CRM) software, your company is provided with in-the-moment guidance and automates mundane tasks. This will free the salesperson in your company to focus more on selling your products. Using CRM’s conversation intelligence, a company can generate Microsoft Teams calls right within the sellers’ workflows with conversational key performance indicators (KPIs) and business insights surfaced on top of those calls.
Limitations of Using CRM Systems
CRM Systems Cost a Premium
Even though the cost of setting up a Customer Relationship Management system is costly be it on-premises or online on the cloud, it will save you money in the long run through automating mundane processes allowing you to focus on more important matters. Dynamics CRM is and Dynamics 365 offer different access levels that you can buy depending on your business needs.
The Risk of Possible Downtime
Like all cloud systems, Dynamics CRM Online has experienced downtime and performance issues. Granted, this is very likely to happen with an on-premises system too, but organizations feel more helpless when it is out of their control.
Data Storage Limits on Cloud Systems
Data storage for Microsoft Dynamics CRM on the cloud includes 5 gigabytes of data storage. Large organizations will likely need to buy more storage space at a cost per month which will be added to your total cost of ownership (TCO).
Get a Microsoft CRM System for Your Business
In conclusion, with the different software systems available for CRM, you will discover that you have a variety of options to choose from and you can find one that will suit your business needs perfectly.
A good CRM software will enable your business to grow, increase your sales, and client relationships which in turn will allow your business to grow in line with your expectations. To learn more about our CRM systems, try our demo for our Microsoft Dynamics CRM Software here.