What does CRM stand for? – It’s one of the most common questions we’re asked! We thought this blog would be a great way to explain the meaning and also the benefits of CRM systems in business.
CRM stands for Customer Relationship Management and is a widely used piece of software for many types of business. From initial enquiry through to support and maintenance, CRM systems allow you to manage your most important assets, your customers.
In short, a CRM is a repository for all of your customers, leads, prospects, suppliers and anyone else that you might need to contact. All your contact interactions are then saved and can be retrieved, any time you need them. Once a contact interaction is entered into your CRM, you can then assign tasks, make notes and hold relevant information about that specific person/company allowing your sales and admin teams to keep a complete view with all the relevant info to hand.
Originally popular in sales businesses, CRM Systems have evolved are now used across all genres of business and CRM has become a complete business hub that can handle everything from contacts, customer service and marketing all the way through to invoicing, file storage and workforce planning.
As CRM Systems have become more popular, a vast array of useful add-ons or links with other products have been developed enabling companies to be more efficient and to add more value to their software.
One brilliant addon to Infor CRM is AlphaMobile which allows companies with lots of staff in the field to send jobs directly to mobile devices and similarly for those same field staff to send back remote orders directly into their CRM cutting down on invoice lead time and double entry.
The investment in any CRM system should be made with the understanding that you could also increase your customer retention rate, increase repeat business, lower acquisition costs and deliver a high-quality service to your existing customers. ROI across the entire business can be vast!
One of the most important questions you will face when choosing a CRM will be choosing between a web-based (Cloud) CRM or a locally hosted CRM. Both have their individual merits but you will need to choose which will work best for your business.
Benefits of cloud-based CRM
– Accessible from anywhere, anytime: Access is via a portal or website that you can access wherever you have internet access.
– No upgrades: As your data is hosted by the CRM supplier, upgrades and security are usually taken care of at source.
– Quick installation: As there is no software to be installed locally, implementation is very fast.
Benefits of “on-Premise CRM
– Data Security: As the data is hosted locally “on-Premise”, you can keep a closer eye on it.
– Freedom: With your data held locally you are free to do what you want with it and switch CRM software when you want.
– Integration: On-premise CRM is more flexible and is usually the ideal solution for companies looking to integrate with other software.
It’s also important to choose a qualified and licenced developer, such as AlphaLogix, for your CRM integrations. Click here to learn more about our bespoke CRM integrations.
Integration – Sage 50 Act!
One of the most popular Customer relationship management packages Act! CRM now links directly with one of the UK’s most popular accounting packages, Sage 50. One of the most frequently requested integrations we were asked for was to be able to show customers Financials directly within Act! CRM so we built our bespoke AlphaLink product for this very purpose.
AlphaLink sends all relevant financial info back and forth from Sage 50 (including Sage Sales Orders) into Act! CRM, eliminating the need to switch back and forth between your accounts and CRM packages.
What Does CRM Stand For In Your Business?
By now you have a high-level view of what CRM stands for and what you might want. Ultimately it comes down to the best CRM for your business.
However, it’s safe to say that if you’re looking for multiple integrations or to keep a closer eye on your data, then you are going to want an On-Premise solution. Your next steps should be to discuss your needs with a trusted CRM reseller, such as AlphaLogix, who can help you find and implement the best solution and guide you through structured training.
How Can We Help?
Here at AphaLogix we offer multiple world-class CRM packages to suit all businesses and can tailor the right package for you. With over 20 years of experience in CRM deployment, we are the perfect partner to choose your next CRM.
Choose From Our World-Class CRM Systems
Infor CRM (Formerly Sales Logix CRM) is specifically designed for small to medium-sized businesses and divisions of large corporate organisations. See More…
Microsoft Dynamics CRM provides you with a complete view of customer interactions, all with seamless integration to Outlook and Microsoft Office. See More…
Sage CRM links together your Sales, Marketing and Customer Care departments within one system & integrates with Sage 200. See More…
Act! CRM is affordable & easy to use, Act! is popular with small to medium-sized businesses & has nearly 3 million users. See More…
What Does CRM Stand For in your business? Get in contact and find out!
If you want any more information on CRM packages get in contact with one of our product specialists today by calling 0845 257 3141 or by filling out the demo request form below: