No matter what business you are in, in order to compete in today's economic environment you will need to be efficient and productive. This means utilizing the latest in computer software technologies. In this article, we will explore the benefits of SAP CRM and SAP SRM, which assist business in keeping and servicing their customers, as well as in managing the efficiency of the relationships with their suppliers.
Customer relationship management is a combination of organisational strategy, information systems and technology that is focused on providing better customer service. CRM is defined as a management philosophy that aims to create, develop and enhance customer relationships, so as to maximise customer value, corporate profitability and thus shareholders' value. A category of enterprise software, CRM covers a broad set of software applications that helps businesses manage customer data and customer interaction, automate sales, marketing and customer support functions and manage employee, vendor and partner relationships. CRM enables businesses to gain actionable insights with a back-end analytical engine. It also helps businesses to see new opportunities with predictive analytics, streamline operations and personalise customer service based on the customer's history and prior interactions. Analysts forecast the Global CRM market will grow at a CAGR of 15.5 percent over the period 2013-2018.
SAP Customer Relationship Management:
Retaining the best customers and maximizing the effectiveness of every customer interaction in the areas of sales, service, and marketing is made simple and effective with SAP Customer Relationship Management (SAP CRM). SAP CRM helps companies address short-term commitments to reduce costs, increase decision making ability, and assist companies in achieving differentiated capabilities in order to compete effectively over the long term.
SAP CRM includes features that support core business processes in marketing to analyze, plan, develop, and execute all marketing activities through all customer interaction points, empowering marketers with complete business insights and enabling marketers to make intelligent business decisions. In sales, SAP CRM maintains focus on productive activity to acquire, grow, and retain profitable relationships.
SAP CRM also serves to reduce the cost of service while enhancing customer satisfaction with support in areas including sales and marketing for service, service contract management, customer service and support, return and depot repair, and more.
The ease of deployment and usability of Cloud CRMs has encouraged SMBs to implement CRM solutions. The need to be competitive and retain customers drives SMBs to adopt e-business, social, and mobile technologies, all of which broadly fall into the CRM domain. SMBs are increasingly investing in customer facing mobile applications and mobile-friendly sites. This helps customers perform functions such as scheduling appointments, making payments, and accessing customer service. The need to manage the multi-channel touch points that companies rely on to reach customers are also fuelling adoption.
As with SAP CRM, with SAP SRM we recommend you work with certified consultants who can assist your company in tailoring your specific needs to the software to achieve benefits including sustainable cost savings for tight process integration, contract compliance for visibility into enterprise expenditures, and a competitive advantage giving you the tools to partner with key suppliers to differentiate in your market, define your supplier management approach, and determine the key metrics that are used to determine supplier success.
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