CRM software can help small and medium enterprises grow their business by managing customer relationships more effectively and efficiently. It automates everyday tasks, allowing more work to get done in less time. CRM also enables better internal communication by making it easy to share customer data across departments. However, CRM implementation can be costly for small businesses due to expenses for the software, maintenance, and employee training.
Large enterprises benefit from lower CRM costs due to economies of scale. CRM automates processes, making transactions more efficient. But large companies face security threats if customer data is stored in the cloud or accessible by third parties. Additionally, not all employees may be able to keep up with new CRM training.
3. HELPS YOUR COMPANY
GROW
CRM is a tool to help you manage your business. It can help
you manage your customer relations, creating a loyal customer
and making a new one. It makes the transaction effective and
efficient. Hence, it can help you to grow your business.
4. Automation
of everyday
tasks
CRM software allows you to
perform more tasks in a shorter
amount of time. The
information about your clients
will always be at hand. The time
spent in a certain task will be
shorter and being automated it
makes the information accurate.
5. Better Internal Communication
Having a good internal communication is one of
the advantages that CRM can provide a
business. Just a few clicks, and you can share
data between different departments. As a result,
your employees will always be in the loop
7. COSTLY
CRM is expensive and makes it costly for any small/medium
enterprises, it is costly enough for the CRM software itself,
maintenance and training of the employees/workers is not yet
included.
8. Sensitive data can
leak into hands of
the wrong people
In many instances, web-hosting
companies grab and sell CRM data to
competitors or highest bidders,
which is more serious among the
disadvantages of CRM. Sometimes,
CRM collects very sensitive customer
data and if this is under the watch or
management of a third party, then
the security of this data is at their
mercy.
9. MEMBERS OF STAFF ARE LIKELY
TO RESIST THE CHANGE
It is a challenge for small/medium enterprises to find a
well educated employees especially if your are working in
rural areas. Hence, some members of the workforce of the
business may not directly realize the benefits the software
is likely to bring to your small business. Therefore,
managers and business owners have to plan to deal with
this level internal resistance.
11. LOWER COSTS
Large Companies have higher profit than Small/Medium
Enterprises, they can afford CRM software as well as
maintenance and training expenses. Hence, in using CRM
software all the task is digital and automated making the
cost lower because they do not need to use tons of paper
and ink if they are using manual system.
12. Greater Flexibility
The digital economy moves at a pace that is orders of magnitude
faster than traditional business, and things will accelerate as we
enter the era of the Internet of Things (IoT) and intelligent
machine-to-machine (M2M) communications.
CRM automated the task and process which makes the transaction
effective and efficient for a Large Company. By switching to a
streamlined, and increasingly automated, approach to customer
service, even large organizations are able to maintain the personal
touch that many consumers demand.
13. Economies
of Scale
The more customers an organization is able to
support at the lowest cost, the more it can
squeeze profits out of increasingly tight
margins. Quite often in today’s world, going
the extra mile for one customer is a losing
prospect, unless there is media exposure or
some other means of return. With CRM,
personalized relationships can be established
and maintained at minimal cost, which not
only boosts brand loyalty but also results in
immediate improvements to the bottom line.
15. SECURITY THREAT
In a digital world, it is much convenient for Large Companies
to store their data in a cloud database which if not maintain
properly is vulnerable to security/data threat to internet
hackers and professionals who are stealing data for living.
16. Third Party
Access
Large Companies are careful with data
privacy act of their related parties.
However, some CRM are connected to
Third Party Software for better
performance of CRM System that
makes the data of the company and
their related parties accessed by other
third parties. Making their security and
data vulnerable to those people who
will want to take advantage to it.
17. Employees
can't keep up
with training
Large Companies are spending training
expenses for their workforce especially if
there are changes like this. However, some
of the employees (specially the older ones)
are refusing to accept these changes
resulting in chances for the CRM
Implementation to fail.
This are additional risk that the
management need to consider and gives
their attention while implementing a CRM
software.
18. Why use Salesforce?
Salesforce is quite popular in Western
Countries and some of its customer are
well established companies. If I am
running a small internet business that
sells concerts and sports ticket
Salesforce will be helpful as it is a cloud
based technology that unites all the
function of the business making it easier
to achieve transaction success and
customer satisfaction.