Why is CRM still number one priority in most IT budgets? Even as companies scale down on capital spending, CRM still maintains a high profile. In most businesses, managing Customer Relationships is a difficult task to undertake, requiring not just an IT investment in the software, but also the ability to organize major businesses processes as well. CRM requires an investment in software, and just as importantly an investment in time.
What is the reason for CRM projects not being put on the shelf like other investments and non-mainstream activities? As other business activities are put on hold, CRM projects abound. What's going on here?
There are 4 primary reasons why CRM efforts are important in tough times:
1. It is economic sense to manage customer relationships. It can improve business results in a more direct way,
with more efficiency and less waste - even to the extent that short-term sales and marketing costs are slashed.
In essence it is an "inexpensive growth" option for any company.
2. CRM provides executives with reporting tools for greater clarity in the decision making process during turbulent
times - regardless of industry or product offering. It is in turbulent times that it is great to be provided with
systems that can transact, analyse, modify, create, communicate, collaborate, and so forth.
3. CRM projects can be implemented in small steps. There is no need for the big bang approach we are used to in
implementing ERP systems and the like. Each incremental implementation step heralds increased sales and
reduced costs.
More importantly, each incremental CRM investment can generate instant, measurable cash flow benefits. It is
no wonder then that the Financial Director is often the champion behind CRM initiatives.
4. Solid customer relationships, like marriages, can weather both the good and the tough times. The strength of
customer relationships will determine the competitive performance of a company both in good times and bad.
For more detail on the four points above, please download the White Paper from our website at
www.thirdwave.co.za.
Third Wave is proud to announce our 20th year anniversary. We have seen our clients make it through 2 recessions in the past successfully. There is no doubt in my mind if you want to recession proof your business in these times you need Advantage CRM. 
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