Experiences by customers are brought about not only by an organization’s customer-facing personnel but by different touch points involved in the customer value chain, including back office.
When CRM Isn’t Enough: 6 Reasons CRM Should Be Combined with BPM
With globalization, personal and mobile computing, emerging markets, and the growing reach and influence of social media, particularly in determining the trustworthiness of a brand, delivering exceptional customer satisfaction has become all the more crucial.
CRM, BPM and the changing business fundamentals
Customer relationship management (CRM) software are used by customer service professionals to keep track of prospective and actual customers, and their transactions with the company. CRM allows them to better understand their customers and target consumers, serve them according to their preferences, all aimed at building a loyal customer following.
Business process management (BPM) software, on the other hand, is a tool business leaders use to eliminate operational silos, and ensure continuous business performance improvement through end-to-end process execution. BPM empowers a company to automate workflows, adapt in real-time, dynamically track progress and make corrective actions when and where needed, and deploy solutions with ease and flexibility.
Where CRM and BPM meet
The world is changing rapidly. Change happens at speeds most legacy systems can no longer handle. Customer needs and requests are evolving. The modern consumer clamors for systems that are simple and easy to deploy, much like the apps in their smart devices. To address this sentiment, a BPM/CRM combination has become necessary to deliver satisfactory customer service ratings, improve productivity, and increase sales.
Advantages of BPM/CRM combination
Better data management
CRM does a good job managing data that is directly correlated with customer accounts and the sales pipeline. But what about data outside of CRM? Lead generation, for example, employs diverse data sources, CRM being just one of them. BPM extracts pertinent data from these various sources to accelerate sales and marketing initiatives.
Maximized selling opportunities
With CRM, you get a better insight into your customers, their purchasing patterns, your communications with them, and the steps that have to be undertaken next, if any. With BPM, you have a clearer sales objective that may include new and existing products being pushed by your marketing department.
These two together, you understand which products your customers might need or respond to, expanding your cross-selling and upselling capabilities.
Speedier resolution of customer issues
When customers call in for issues, they expect prompt resolution. If an issue is known and your customer representatives have been forewarned, they generally already know what to tell your customers.
If an issue is specific to just one customer, like a product that hasn’t been delivered to his doorstep yet, a combined BPM/CRM system means easier product tracking and pinpointing of the factors hampering prompt delivery. This may be an issue with inventory, order or payment hitch with a partner supplier, for example.
Accurate revenue prediction
CRM tracks metrics that include number of prospects, potential customers that are already in the database, sales calls made within a sales cycle, new and prospective customers placing orders, customers being retained, leads your sales representatives are following up on, the length of time or number of calls needed to close a sale, among others.
Combine all that with BPM, specifically customer information and sales data that you can utilize for accounting, invoicing and other financial processes, the ensuing revenue tracking and prediction becomes a lot simpler.
Maximized returns on CRM investment
Depending on the needs of your organization, your CRM software investment can range from zero to thousands of dollars. While CRM applications are now the technological bloodlines of most customer service functions, when you combine them with BPM software, you unleash the full potential of your CRM system.
You get a better handle on your sales and marketing objectives and how they’re accomplished through CRM, whether or not the deployed processes are contributing to those objectives, which areas need improvement and which industry best practices can be adopted to boost process efficiencies, and ultimately, your company’s bottom line.
Better mistake-versus-accomplishment insight
The end goal of BPM can be to (1) to continually enhance business processes, (2) create process roadmaps, or (3) automate workflows. Integrating BPM with CRM gives you the benefit of utilizing dashboards, charts, graphs, templates and other reporting tools that accurately measure the profitability of each customer, and customers gained and lost.
This way, you have a better insight into the types of customers to concentrate your marketing efforts on, which then will allow you to effectively devise plans and strategies that will help your business avoid unprofitable pursuits.
For more information on how to integrate CRM with BPM, Comindware may be able to help.
Image credit: imagerymajestic | FreeDigitalPhotos.net
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