The evolution of CRM and the technological advantages of its implementations

In 2000, most organizations considered that Customer Relationship Management (CRM) would not bring them benefits in their business. However, according to Gartner, ten years later, this idea changed considerably, as those same companies have achieved success with CRM solutions, so much so that in the last decade CRM applications have become more predictable. Today, companies view CRM not only as an IT solution but as a set of business processes, workflows, and best practices that make up the efficient implementation of CRM.

As CRM practices evolve into IT solutions as effective business strategies have expanded to include traditional methods such as state-of-the-art communication tools and we can reach the customer with a level of customization and flexibility that some do. years it was not possible to perform.

This benefit brought by new practices also generates great challenges
An example of this is that a better data optimization is achieved, as well as the incorporation of financial services. In the study called “CRM the top of the priorities” carried out by banks in the United States in 2008, he detailed that more than 80% responded that they did not anticipate having online banking, or mobile banking, much less integrating them in the next two years; while 60% would not have contact centers, ATMs, or integrated mail channels.

However, three years later we begin to see that mobile banking is revolutionizing the way we do bank transactions. For example, in Mexico, Colombia and Brazil, the penetration of banking services in the use of mobile systems for sending and receiving money already exceeds 3% in the best of cases, which is Mexico.

The positive effects of integrated CRM multi channels are remarkable. A study of market leaders concluded that superior CRM functionalities could undoubtedly improve banking performance. An essential part of CRM in financial institutions is reaching customers, understanding their needs, and making them specific offers through its multiple contact channels. Organizations that have a structured strategy to collaboratively optimize all channels achieve higher consumer response rates, higher return on investment, and higher customer profitability for more info visit  vastasys.

The technological advantages of your implementations
Given the changes that have occurred in recent years in the market, in which the CRM trend has gained ground, companies must face certain modifications in their computer structures, in order to obtain reliable information that allows them to respond to customer demands and thus survive and compete in the world market.

The introduction of a CRM solution makes it possible to better identify and know the company’s customers, as well as to more precisely personalize the offers and the treatment received. The CRM contains extensive information about customers such as: personal data, contracted services and products, amount, frequency and place of purchase; it also allows you to know your current and future profitability.

The great advantage that CRMs provide is that they centralize all a customer’s information, avoiding the possibility of having inconsistent or out-of-date data
For example, a client of a financial institution can interact with his bank at the entity’s own offices, through its ATMs, on the Internet, by calling the telephone service or using his mobile phone. The multi-channel structure of this communication requires an application that centralizes all the data collected in the different channels, and the CRM is the tool that will help the company to learn more about its customer.

Continuing with the example of the bank, the manager of an office must know if his client is using electronic banking, if he usually contracts products by phone, if the frequency of use of the ATM has decreased or if he has recently expressed a complaint in the service telephone customer service.

Another benefit that CRM offers is developing a dynamic profile of each client. Your satisfaction level is not static, but will likely vary throughout your relationship with the company. Knowing it at all times, knowing when a customer is no longer satisfied and why is essential, since it allows you to immediately modify the content of the communications and act accordingly so as not to lose it.

CRM implementations

The CRM strategy brings innumerable benefits to all areas of the company and to all hierarchical levels
Even if the bank can share data by centralizing disparate IT departments and systems, it may not have the analytical tools necessary to make good use of that data. Companies must be able to do robust real-time analysis of data and redistribute it among executives for a better decision-making process, from the contact center employee who contacts the customer to the marketing director who designs the marketing budget.

Once the implementation of CRM is achieved, companies can already face a series of challenges that they must face to achieve competitiveness in their operations, such as reversing flat or descending profits, reducing the cost margin, and avoiding the loss of profit from lost customers; in addition to being able to report a large number of advantages in the short term, such as being more agile and dynamic in work processes. more info to visit :

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