Why XRM over a CRM in 2022..?

We have experienced or heard all great benefits of implementing CRM (Customer Relationship Management) software till date. Software that helps you manages typically your marketing campaigns, sales funnel, customer satisfaction, contacts and internal task activities.

Therese no doubt that using a rightly implemented CRM can produce great ROI (Return on Investment) and add real value to your business but that’s not it, you can get lot more value out of extending the capabilities of your CRM software.

In 2020, the concept the idea of a plain vanilla CRM sounds like an old school element. CRMfocuses mainly on acquiring new customers. It can manage your campaigns, prospects, lead cycle (i.e. follow-ups, appointments, tasks, forecasting) and quotations and then theirs a dead-end or integration with some third-party application for further processing.

Dead-end and independent apps are missing deep charm while theirs nothing wrong in having integration with 3rd party applications for managing further business operations other than cost factor but theirs a lot more value you can get if you can scale up your CRM to manage the further business operations such as orders, invoices, deliveries, receipts etc.

Having no further system means having no data and having no business data can cause a big problem, while having an independent application means duplication’s, human intervention and lack of accuracy. Lac of accurate information could be sometimes more dangerous than having no information. While having an integrated system means data flows smoothly from your CRMto other applications such as accounting software, ERP, inventory software etc. But that again an old style operandi with limited benefits while the new and exciting idea is to extend your CRM!

The extended CRM can open up whole new domain of information which accounting and ERP’s can never offer. These insights can become at least 10 times more valuable than your CRM and that’s why its time to adopt an XRM for your business.

XRM can have 3 major advantages over CRM

  • You can complete your sales cycle in XRM
  • You can get more insights of your customers
  • It works on the area of getting more business from acquired customers

Now, lets discuss these points in detail one by one…

You can complete your sales cycle in XRMM

A typical XRM application cover ups all facilities which conventional CRM users are looking for, such as desire of making orders and invoices from quotation directly, creating delivery challans and payment receipts and making the automation of entire sales cycle.

When you do these operations in XRM, you are saving your cost of having additional application, duplicate data entry work, costly 3rd party application integration’s and more… and on top of it, you can save your huge time as you have already added contact details in lead and quotation which an advance XRM system can fetch for making further documents such as order and invoices to save great time and to make the document ready within few clicks – within no time.

You can at least save 10 minutes per order / invoice generation and so in case if you have a sales force of 5 reps making average 3 orders a day, your organization can save a time of up to 150 minutes a day (5(reps) x 3(Invoices/ orders) X 10(minutes) = 150 minutes). Its a huge saving! Isn’t it?

Not just it, some XRM’s also allow you to integrate your business emails in their systems, through which you can directly send your generated documents to your clients along with the beautiful cover letter. No need to download the copy and go to your email client – More saving of time, ease, and integration of email communication with contact data. Great! Isn’t it?

You can get more insights of your customers

Is only per-sales data is sufficient? Don’t you want to retain your customer forever? In CRM we just capture data of per-sales cycle and more or less focusing on information relating to customer acquisition but no real numbers which can make you get your Top line information, In XRM its easy to get Top Line sales figures and to know about the successful transactions, revenue generation etc. You can get your complete sales insights / analytics, order history, payment history, due info / reminders and much more…

All these information is also directly linked with the customers, in one single customer page you can see entire sales interactions of the all sales reps communications, transactions, including emails under a one screen which you can use to study and understand their buying pattern from you. By analyzing this info you can understand their behavior with your organization and you can probably use this info to boost the cross and up sales and further redefining your target audience.

It works on the area of getting more business from acquired customers

We all know acquiring new customer takes away huge cost but the key question is “Are we really focusing on getting best out from the acquired customers?” For most of the organizations repeat and referral business is a key source of their income and if they are not getting repeat and referral business, their survival will might be at stake. XRM really works in this area to boost the business opportunities from the existing clients.

Who doesn’t want to get more business from the acquired client? XRM helps you design solutions which match up your audiences expectation and remain engaged with them to get more business. It gives you complete customer centric information of sales, his buying pattern and his behavior pattern and by clubbing all these information together from XRM many organizations are boosting their business multi fold and creating a better bottom line from their acquired customers and this tangible business result is providing great value from XRM overconventional CRM systems. And as we all know acquiring is time and cost consuming and CRM is really great when it comes acquiring new customers but after acquiring and satisfying the customer you need to get more business as only one transaction with one customer with plain vanilla service is not going to build a great bottom line but it is just a beginning of great business relationship which you have started with your new customer. You need to get more business from them and build customer loyalty to grow and remain leader in your market space for a long time to come.

And that’s why we say XRM adds at least 10 x values over a CRM because acquiring is lengthy and difficult and repeating is smart and simple.

Want to have an XRM for your business? Reach out to us, we have a wonderful solution!

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