Customer Relationship Management is a major business strategy that creates congruence between internal processes and functions, and external networks, to manifest and deliver value to targeted customers with a huge ROI (Rate of Return). CRM delivers high quality customer knowledge which is enabled through Information Technology.

The aim of a Customer Relationship Management strategy is to maximize profits through relationships with customers. Increased revenues may be generated by cross selling, upselling and selling customers additional products and services.

One of the benefits of Customer Relationship Management is customer retention and increased customer loyalty. These customers are willing to pay a premium for what they deem is a smooth, hassle free sales process. By using Customer Relationship Systems such as Advantage CRM companies can teach their customers how to do business with them, further creating a web of benefits to keep the customer – who does not want to go through the whole process of relearning to do business with another supplier. Sticky CRM webs retain customers who are 7 times cheaper to sell to than new business acquisition.

Sales 2.0 – covered in another article on this site makes repeated references to the role of technology in improving customers perception of their business partners. Customer Relationship Management used in conjunction with computer hardware and application software has the ability to increase sales by 35% (a recent Harvard Business Review article), and at the same time reduce selling and administration costs by 25% - a huge increase in net profits.

Customer Relationship Management is the process where you locate, identify and target and convert your leads into profitable customers you want to do business with.

So make a decision today to commit to acquiring a customer relationship management system that will have you accountants doing cartwheels in the corridors. Be aware that the success rate in implementing Customer Relationship Management systems is not guaranteed. Probably the most important factor in a successful CRM implementation is your choice of a suitable partner to implement the CRM System.

Third Wave Software has been in the business of implementing Customer Relationship Management systems for over 20 years with a 95% success rate. Third Wave creates seamless integration with your existing accounting systems and ERP systems.

If you are interested in finding out more about Advantage CRM Software and the benefits thereof, contact us or call us on+27 11 462 6871 and we will gladly be of further assistance.