The focus of every business is to adequately satisfy the needs and wants of the customers. Business companies devise certain strategies to achieve their organizational goals. Traditionally organizations used to offer the products and services thinking the customers would use them according to their needs, but with time, the business strategies change and organizations realized the importance of feedback from the customers.
The term ‘Customer Relationship Management’ or commonly known as CRM is now an essential element of all existing and new business companies. The main purpose of a CRM strategy is to allow companies to manage interactions and relationship with their existing and potential customers. An efficient CRM strategy helps to streamline business functions related to customers, improve productivity, and allow a company to stay connected with its customers. The CRM strategy has developed into a complete system that includes contact management, sales management, and other important business processes, such as inventory management and logistics.
The CRM has grown with time and cover multiple business functions that organizations now have to use a proper CRM software that helps to maintain productivity. The CRM software is designed and developed by leading information technology (IT) companies who know how to offer different options to the organization so that they can manage their relationship with the customers.
Microsoft Dynamics 365 is one of the most advanced software that allows organizations to integrate and streamline their numerous business operations regarding sales, accounting, human resource, customer relationship management, and supply chain management. The CRM system comes as a separate system but can easily be integrated into other departments. Microsoft Dynamics 365 integrates the two important functions, which are CRM and ERP (Enterprise Resource Planning). The CRM aspect deals with organizing, automating, synchronizing sales, marketing, customer service, and support while the ERP aspect deals with the efficiency of business processes which includes order management, human resource, pricing, sales, and distribution.
The key features of Dynamics CRM project management software are
- An improved information system with a record of data
- Information on time spend to convert leads into sales
- Enhance customer interaction and service
- Automation of tasks
- Timely tracking of order request and delivery
- Streamline the marketing and sales processes
The main emphasis of CRM software is to satisfy the needs of customers efficiently and solve their queries so that they remain loyal to the company. The CRM software is an essential tool that helps not only to retain old customers but build a relationship with new customers to ensure sales growth. The CRM software is a platform that centralizes all the customer information from his purchase history to his preferences and buying behavior. The main advantage of CRM software is that the tasks which employees used to do are now automated, which not only saves considerable time but allows a company to quickly solve any issues and problems. The forms are easily filled, and reports are readily available.
The business trends are changing rapidly today due to technological influences and preferences of customers; the CRM software can be deciding factor that can help a company to sustain, achieve a competitive edge and achieve organizational goals by increasing revenue. The CRM software connects a company with its customers in a smooth way, the details of the customer is stored in a central database which can be used by the sales and marketing team to devise promotional activities. The analytics assist the company to know about the customer profile and learn how they can improve the standard of their products and services.
The importance of CRM strategy is needed in nearly every department, whether it is sales, marketing, human resource, customer service, or supply chain management. The sales team can spend more time in convincing the customers and making a sale than inputting the data. The marketing team gets an overview of the customer with his likes and dislikes and buying the pattern, so they can see an opportunity to increase sales. The customer service team will effectively respond to the customer’s queries as CRM is a central platform where every interaction is done smoothly, and there is no lack of communication. The supply team can adequately maintain the inventory, know about the customer requests, contact with suppliers, and maintain follow ups until order delivery. The human resource teams will know how to allocate resources and help the employees to manage the automated system. The advantages of CRM software are
- Improve coordination within the different teams
- A smooth contact with the customers is maintained
- Enable the sales team to know about the customer
- Improve marketing efforts
- Ensure customer satisfaction and retention
- Upgrade the quality of products and services
- Allow a company to make precise and accurate forecasting
- The customer information can easily be accessed
- The analytics and reports help the company to take timely decisions