“Corporations invest in sophisticated CRM, or Customer Relationship Management, programs to effectively oversee their relationship with their customers at every point during the buying process.” – Marc Ostrofsky”

 

Customer relationships mean the most in today’s world and form the fundamental core of any business. And hence, taking care of it plays a pivotal role in maximizing customer loyalty, which is done best with CRM solutions. A CRM software has established itself as a perfect tool for managing, maintaining and monitoring customer relations by leveraging the versatile blend of sales, service, marketing and satisfaction. A burning question that has always been doing rounds – whether to go in for custom CRM solutions or a readymade one, persists. The best choice can be made depending upon your business requirements and the expectations that you have from your CRM software.

CRM software is now the biggest software market in the world and the growth isn’t slowing down. In fact, CRM is now expected to reach more than $80 billion in revenues by 2025

Custom CRM Solution

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CRM solutions merge into your business logic and emerge as a platform for communicating with target audiences, generating insights about customers with constantly realigning strategies. The problem with readymade CRM solutions is that it comes with features that are costly, overestimated and possibly not needed. Before we investigate into why custom CRM software is apt for your business requirements, let us quickly glance into prime reasons why businesses should invest in CRM software. Here is what a comprehensive and efficient CRM solution offers:

  • Enhanced customer satisfaction
  • Maximized RoI and business performance
  • Improved customer retention & revenue
  • Data convergence from disparate sources
  • Better internal communication
  • Prudent data management
  • Detailed and valuable insights into information
  • Optimized sales and marketing processes

Global CRM Market

Global CRM Market, by application, 2014 – 2025 (USD Million)

Top 8 Reasons Why Custom CRM Development Is Best Suited to Fulfill Business Needs

Tailor-made to Actual Business Requirements

With a tailor-made CRM solution, the best part it that you get exactly what you are looking for. Since it is made completely out of your own business requirements, it caters to the nuances of the organizational workflow. There is equal involvement of actual users while building the solution, which is why it reflects actual processes and workflows. There is a shorter learning curve as end users are aware of what lies in the solution, beforehand. There is feature appropriateness as the system works with strategic business plans of the organization.

With readymade solutions, this is not the case. It encompasses of features that may / may not be useful to your enterprise. There is added cost, time and effort factor involved in implementing a readymade solution. It amounts to a lot of disturbance for the end users who get to see functionalities that aren’t a part of their daily workflow at all.

Manageable Costing Mechanism

Cost effectiveness is a major factor while implementing any CRM solution – be it customized or off-the-shelf. When the solution is designed and developed as per user requirements, it is obvious that the cost factors are controlled and monitored well. Licensing and pricing depend upon the utilization of the solution and not on the number of users being involved. Adding or updating components also calls for a low-cost affair when there is a customized solution, unlike the readymade one, where there is huge expense involved.

CRM Integration into Organizational Workflow

A customized CRM can easily be integrated into organization’s IT infrastructure that encompasses social media and communication channels. It is designed to take care of complex workflows and connect different operational modules with customer specific ones. As for readymade ones, it depends upon the vendor if integration is a part of the package or not. If not, it may lead to extra resources to do so.

Seamless Integration with Business Procedures

With a Build CRM of your choice, there are better chances of integrating it seamlessly across other departments in the same organization. Ranging from different areas like sales, service, marketing and customer support, there can be automation of processes, inter-department as well as intra-department. This calls for better efficiency and productivity within departments, directly impacting business revenue.

CRM solutions that are off-the-shelf, may not be able to encompass activities belonging to all involved departments. That may cause disturbance while following daily business processes within departments.

Higher Security and Privacy Control

A critical component to the success of any CRM solution, security and privacy need to be focused upon on a priority. And, they are very well taken care of, in any custom CRM since the information security and privacy measures are well integrated into the system, right from start. While building the system itself, users would have shared their functional security needs and hence the system would have it all. Unlike off-the-shelf, where security breaches are a possibility since there is an outside component being implemented.

Competitive Business Advantage

By having a tailormade CRM solution, users will be empowered to come up with comprehensive business strategies that will help increase productivity and profitability. Organizations that adapt customized CRM are all set to make necessary automation changes into their system, at a faster pace, making them stay a step ahead of the rest.

In-depth and Improved Business Analytics

Since user needs are well understood and incorporated, detailed business analytics can be worked upon, with ease. Users can get enhanced business analytical reports / dashboards based on their parameters, at the right time, right place. There is even flow of information at all levels, enforcing a level of uniformity in the entire organization.

Increased Scalability and Flexibility

A custom-built CRM solution is not only cost effective and efficient, it is much more flexible and scalable. There are open options to create components within, that can connect with the main system and work efficiently. Since the solution is specific to your own needs and basics, it is easy to scale it up as needed and that too with minimal changes in the basic infrastructure.

 The Bottom Line

Customizable CRM Solution is here to stay. With the above-mentioned factors, it is ascertained that custom CRM software is a better option for organisations who are looking at implementing a CRM solution that matches up to each of their business requirement. As technology progresses, there are innovative advancements like cloud computing, IoT, AI etc. that will integrate with the CRM solution to make it a better offering to its end users. Surely, an interesting area to watch.

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