Is CRM an Asset or a Liability?

Are you still wasting Money, time and human resource on managing papers?

Are you still printing documents to maintain comments?

And using file folders?

Generally a matter I discuss with managers I meet, is what they think is the most valuable asset in their business.

• What is your most valuable asset?
• Do you have an overview of your customers?
• What is the business value of a good CRM system in Pakistan?

I get various answers depending on their industry, and what stage their business is in.

Hospitality industry people and shop owners often say “location, location, location”.

People from IT sector tend to focus on the new, hot products or their plate.

Managers from the consulting business mention that their human resources are the most valuable asset. Others emphasize logo and brand image. An excellent management team, smart staff and sales starts is also on the list.

The one thing all of these answers have in common is this:

All of these are aimed towards getting new customers.

Current Customers are also important to businesses – they pay bills and salaries. So why is it, that clients often say they feel neglected by their suppliers?

Customers stop being customers for various reasons. They move to another location, they go out of business, or they go to a competing company. These reasons count for 34% of customer loss. The remaining 66 % leave for being ignored when interacting with some organizations. Luckily, we can do something about this.

Besides being a great data management tool CRM System can help you to reduce costs in the office and maximize profits.

A lot of companies think that CRM (Customer Relationship Management) Software is just for the big boys, but it is one of the biggest asset any size businesses can have.

50% of businesses fail within the first 18 months from the start. CRM Software can help you manage contact information making it easy to follow up on your clients and plan activities accordingly.  It is a central repository that collects all data in one single place and gives businesses the possibility to create the best possible relationships.

We use social media and websites for advertisements of our business online but we still have a high paper waste which costs both time and money. According to a recent study, 95% of offices in Pakistan store paper records on office premises rather than choosing a digital system, and 2% of business have no structure whatsoever for storing consumer communication.

How are we going to create exceptional customer service and loyal consumers when we use time and money on administrating paper?

A digital record management gives you:

• Improved business management processes through faster access to and retrieval of information.
• Better decision-making through quicker access to the right information.
• Better service delivery.
• All the right information at one place.
• Reduced compliance costs and enhanced ability to provide accurate, timely and transparent responses
• Cost savings from less creation, storage, retrieval and handling of paper records.