This report gives an overview of current considerations for organizations seeking to purchase a CRM solution. Based on aggregate data collected from more than 1789 CRM software comparisons performed using Technology Evaluation Centers’ (TEC’s) TEC Advisor software selection application, the report details what TEC data reveals about your peers' requirements for CRM solutions, including functionalities, customization and integration, server and database platforms, and budgeting.
About This Report
This report is based on aggregate data collected from more than 1789 CRM software comparisons performed using Technology Evaluation Centers’ (TEC’s) TEC Advisor software selection application. TEC Advisor contains detailed information about product capabilities for a wide variety of enterprise software solutions, including CRM solutions.
Using TEC Advisor, business decision makers can define their companies’ high-level CRM software requirements in order to identify a working list of solutions to evaluate in depth. They can then compare how, and how well, different solutions support their requirements.
The Value of Peer Assessment
Although each organization has its own unique CRM requirements, it's useful to consider what other companies are seeking in terms of features, pricing, and specific technical and methodological considerations.
Studying what your peers and competitors are looking for in a CRM solution can help you develop an understanding of what CRM software vendors offer, what other companies have identified as important requirements, and what might be a good fit for your own organization.
Start Your Own CRM Selection Project with TEC Advisor
You can use TEC Advisor to perform your own in-depth CRM selection project. Using TEC Advisor you can see how well more than 80 CRM solutions address your company's unique business needs.
To start your TEC Advisor project, visit this link
Before the consumerization of CRM products, many organizations were tackling their customer relationship management (CRM) technological challenges by either combining several tools such as Ouickbooks and ACT! or by using the CRM modules of larger ERP solutions. Today, companies acknowledge two main realities that are shaping their CRM strategies. First, they are aware of the limited functionality offered by products such as Ouickbooks. Second, CRM has become affordable. Thank to cloud technology, the market has become more mature and as a consequence there are more players that compete and propose low prices.
Accounting and CRM software are must-haves for all enterprises—regardless ofthe size. While accounting software is imposed by legal requirements, CRM is required by market and customer demands, which have changed over time. For instance, most customers no longer want to spend time on the phone to receive basic information about products or services, and they would prefer to receive an invoice via e—mail than regular post. Tasks such as these would be difficult to achieve without a CRM system.
The late famed management consultant, educator, and author Peter Drucker astutely observed that "the purpose of business is to create and keep a customer.” Even if not all companies have customer experience strategies, the market trend is to be customer-centric. Ensuring a satisfying customer experience is important to keeping up with the competition. Also important is the recognition that loyal customers are necessary, since a loyal customer who often spends small amounts of money on a company's products brings more revenue than larger contracts that are closed every several years.
Despite the social CRM hype, CRM still relies on core contact management functionality which keeps contacts organized and supports any other customer related initiatives. Or, in other words, although CRM is no longer exclusively a system of records it does rely heavily on this functionality.