While the world is undergoing rapid transformation with regards to collaboration, social interaction and Web 2.0, CRM still remains the most important aspect of any growing organization and the foundation of successful customer interaction remains the same. CRM is not just an application or a package but it’s a set of processes within the organization which has to be combined and integrated closely with communication methodologies and customer focused knowledge base to server the one thing important to any growing organization: its customers.
A good CRM process is about understanding preferences of your customers and leads, so you can:
– Provide just in time services and support to your customers so that you are way above your competitors
– Improve your sales, customer and ordering interaction processes.
– Reduce customer frustration by being proactive in anticipating his needs and queries rather than repeatedly asking for same information.
– Improving customer relationships to have repeat customers by keeping customer service, sales and marketing information with regards to him on fingertips
A properly installed and implemented CRM system can contribute many benefits to your organization but four major area stands out where there is going to definite improvement on an immediate basis by deployment of a right CRM system
Prospects to Sales Closer Cycle
The more information you have with regards to a lead, the more advantageous your position will be over your competitors to close sales. A major wealth management company** in India using Sage CRM has made a 10 stage process from a lead to sales closure activity workflow with tracking in each stage as to the lead turning into cold and capturing of data. The managers always know which relationship manager is working on which prospect and always have the pipeline with various stages. All levels of management have escalations with regards to particular actions like a particular prospect not contacted even while he is in stage 9 for more than 2 days. Without making it complicated for sales person who would rather work on “making sales happen” than entering data, the work flow makes sales process automated and every relationship manager has the task cut out as to what the next step is going to be in each stage. According to Kumar Siddhartha, CEO of Greytrix which implemented the Sage CRM in the organization, “Sage CRM sales workflow system not only gives powerful post analytics capabilities but acts as a sales assistant to help the company automate sales tasks – allowing the managers to spend more time focusing on strategic sales issues and new sales closers and increasing their closer rates substantially.”
Just in Time Customer Service
Customer satisfaction is a critical success factor for all businesses. The right system allows your team to take a proactive approach to customer service. With up-to date customer information at their fingertips, your employees can resolve customer issues more quickly and successfully. A major IT software product** company is utilizing the power of Sage CRM by using Sage CRM’s self service portal to log on cases over web and SMS/Email gateway to immediately inform them of status updates. The implementation carried over within 4 months by Greytrix included data migration from older system and Sage CRM is serving as the “knowledge hub” where all critical documents and updates/patches of software are stored on a real time basis for their distributors. The turnaround time and manpower energy saved with such a system in place for your customers where you proactively give support to the customer and inform them of their status.
Better Forecasting and Decision Making
A well designed CRM system provides comprehensive views of customer across all major touch points including marketing campaign and sales activity. Sales forecasting and Sales Targets can be aligned within the organization to give better decision making power to top management. At lower levels, the decision making comes with better coordination and collaboration with different teams because of collation of the customer data at a single repository. A prime example for this kind of collaboration can be seen in an implementation of Sage CRM at Engineering Project organization** which is into waterproofing projects where sales people know the status of the projects and invoices done by operations and financial teams because of the integration with the ERP software and it helps them make informed decision at their end while pitching new sales to the customers. According to Thomas Abraham, MD of Sage Software India “The seamless integration between ERP and CRM system is a must have requirement for all major Engineering and Project Companies (EPC) who are also customer centric firms. Sage CRM and Sage Accpac ERP has an out of the box integrated systems where both CRM and ERP is equally powerful and a compromised system along with the complete benefits of end to end integration from a single vendor”.
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Greater Organizational efficiency
With an integrated CRM system, you can gain immediate access to your organization’s critical customer information. A good CRM system also creates internal efficiencies by. One of the mobile distribution company** is utilizing Sage CRM to track purchase of mobile Sim cards and its activation in CRM along with customer complaints through call center operations. The entire sales, cases, and financial data for that customer is at a finger tips of the entire organization. Each of the departments has a pre defined automated workflow processes which tends to reduce human error and decrease process time which in turn is providing consistency throughout the entire organization. Jitendra Somani, COO of Greytrix who is implementing the software informs that replacing the archaic system with a powerful CRM system has helped the organization by reducing customer interaction by more than 50%.
In conclusion, CRM is a combination of a good software and process which will help you increase efficiency and customer satisfaction at your organization. There is a number of CRM software in the market which can help you achieve your goals. Sage Software has ACT!, Sage CRM and Saleslogix, which is meant for different set of customers according to their needs.
** For more information on companies mentioned in the article and how it is changing their approach towards customers contact Greytrix at kumar@greytrix.com or contact Sage Software at http://www.sagesoftware.co.in
BY: Kumar Siddhartha, CEO Greytrix India Pvt. Ltd.