3 Ways CRM How Real-time Data Can Improve Your Business

Customer relationship management (CRM) platforms are an important modern business asset. The software automates many internal operations from lead generation to sales tracking and client management. CRM application integrates data from devices, products, forms, and other business apps to enable data insights for more centralized management. Here are three key benefits of adopting a CRM software.

Organize customer data

As a business’ client base grows, so does the need for a centralized management platform. It’s hard to imagine modern corporations operate without an enabling customer and data management tool. CRM platforms store data in backend tables and allow employees to access them via a user-friendly interface. For example, clients might customize their CRM dashboard to display relevant graphs on lead, sales, and monthly summaries.

CRM reporting tools also allow companies to chart data and measure their performance. Employees can create reports that organize sales by products and clients, for instance; or reports that populate forms with relevant data to present to partners and clients. Even if a default CRM application doesn’t have an embedded reporting tool, users can integrate the CRM database with a third-party data warehousing tool like Microsoft SQL Server Reporting Services.

Get actionable data insights

CRM applications can incorporate machine learning algorithms to help clients make forecasts and predict consumer trends based on past sales information. For example, an enterprise might make use of previous consumer and product correlations to predict how well an upcoming product will do in the same market. Such predictive analytics is possible with CRM and can be an effective tool for sales and marketing.

Real-time data analytics can also assist a company‘s IoT development. For clients that are tracking their assets remotely, for example, CRM applications can receive live data and let employers know the conditions of an environment and manage assets accordingly, reducing physical maintenance. The importance of real-time analytics can be seen in healthcare applications, where devices can track and sync patient vitals so that caretakers are instantly notified when they’re needed. In short, data analytics puts raw data into context so companies can make better-informed decisions.

Manage customer relationship in the cloud

A number of CRM applications are cloud-based, which means the software runs on a remote server that’s accessible from anywhere. One example is Salesforce, a popular cloud CRM service provider. The application is pre-installed with the latest updates on secure servers managed by Salesforce. To use Salesforce CRM, clients subscribe to a monthly plan to access its out-of-the-box application, which they need to customize for their business. The cloud subscription model can lead to long-term savings.

Just for comparison, the basic Salesforce plan is $25 per month and gives five users access to the CRM application; the package covers lead management, customers and sales management, mobile app integration, and customer training and support. The cloud CRM removes the need to install and maintain an on-premise software and thus cuts IT costs substantially in the long run. Salesforce clients also enjoy automatic application updates, so the traditional task of reinstalling software across multiple workstations is obsolete.

With cloud CRM, admins can configure the app to work with any connected device, allowing employees to work remotely and access applications from anywhere. CRM application automatically syncs data updates across the platform so that all end users see the most recent information. These are just a few benefits that Salesforce and other cloud CRM service providers offer.

Adopting CRM

CRM can help businesses streamline many operations from tracking sales to building stronger customer relationships, especially using real-time data. As well, CRM applications enable powerful real-time analytics, remote asset tracking and data collection and display them in understandable context for employers, clients, and partners. Cloud CRM application itself can be accessed and managed remotely from connected devices in or out of the office. There is a lot of CRM software on the market for a company to explore what will best fit its needs.