March 24, 2023
The development of computing technologies also led to the emergence of new software, applications and numerous effective solutions for businesses. One of these powerful solutions was CRM (Customer Relationship Management) solutions. With the start of ‘Front office applications’ in the large organizations, CRM applications also found its market.
CRM applications help organizations in focusing on their customers’ needs and deliver their clients with better services and improved efficiency. CRM solutions are available as a generic solution and it is also offered as an industry-specific application, i.e. customized solution. These are greatly reliable applications that have helped organizations in improving their sales and revenues.
Although it’s a proven way reach customers, only large corporate have been able to buy and implement CRM solutions. It means there is a wide scope for CRM applications in SME (Small and Medium Enterprises) market.
Even the large enterprises need to explore the capabilities of CRM applications which are already implemented in their organizations. Integrating CRM solution with many other applications used in the organization can enable the business data sharing and improve the efficiency. This application to application or business to business synergy may even improve the business ROI.
Besides, upgrading to the superior versions of CRM applications can also be greatly beneficial for these enterprises. More than often organizations using CRM applications do not upgrade to the latest version of the application and keep using the older one. This might cause them lagging behind in the competition.
Why SMEs do not use CRM solutions?
CRM applications are quite expensive, and require specific infrastructure which restricts small businesses to buy and implement CRM applications.
What is the solution?
As mentioned earlier, the SME market is yet an unexplored area for CRM applications. However, the hosting providers have made it easier for SMEs. To make use of CRM applications, small organizations prefer to go for hosted solutions and the payment is made based on the usage.