CRM is 'effective investment'

The use of customer relationship management (CRM) and associated business management software is a necessary investment for the modern workplace, it has been said.

Sue Barrett, the founder and managing director of Barrett and an expert in modern technology in the office, explained in a blog on Smart Company that there are a large number of benefits in such a purchase.

She asserted: "CRM promises faster customer service at lower costs, higher customer satisfaction, better customer retention and ultimately customer loyalty and more sales."

However, businesses must make a list of key priorities before adopting it, Ms Barrett explained, most notably knowing the business strategy and key outcomes that should be achieved, before working backwards from there.

She continued: "Know your customer, their needs, wants and motives and your path to market."

Fundamentally, the business system needs to manage clients, projects and prospects while a CRM system should track client data, product sales data, sales person activity data and the effectiveness of marketing initiatives, Ms Barrett concluded.

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Earlier this week, Louella Fernandes, writing a special piece for ZDNet Asia, explained that CRM is able to collate all information usually fragmented by different departments in a company.

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