Nowadays, Business has reached the topmost way to earn money. The world is entering more into digitalization, privatization, and entrepreneurship resulting in the growth of the business sector and start-ups. Many people do Business but only some of them become successful. One of the reasons is the customer-company relationship.
A business is successful when the company has good relationships with its customers and sales. The administration should know the information and demands being made by the customers.
Earlier businessmen used to track the records and be in touch with all the activities of the clients, customers, and providers but these days this work is done by CRM.
WHAT IS CRM?
CRM is Customer Relationship Management. It is a technology that balances the relationship between the company and its customers. It allows the company to stay alert and conscious of the interest, activities, and demands of its customers.
It helps in the progress of the organization and allows the company to have good relations with its customers. CRM stores and collects the information of customers in one place so that it is easier for businessmen to work. Also, it suggests opportunities for the company to have changes that will increase good relations with its customers. According to a survey, Industries that use CRM will grow at a rate of 14% from 2021
to 2027.
Working on CRM-
CRM works in the following ways to help in the success of company and business-
It maintains the approach of collecting and storing customers’ information in one place.
It uses intelligence and clouds computing technology.
It Suggests opportunities to help businesses run more smoothly.
It helps in the proper delivery of services to customers.
Types of CRM-
CRM has the following three types-
Collaborative, analytical, and operational.
CRM works differently for different organizations and the selection of the type of CRM should be done very carefully.
Advantages of using CRM-
It is a tool that-
allows the company to stay in touch with the demands and actions of the customers.
Improves the sales and services of a business.
strengths the bond between company and customer.
Shows opportunities to keep the customer happy and satisfied.
Keeps and collects all the information in one place.
Does some work that reduces the work for the company.
The businessman can take some other work and help them to refresh their minds.
Disadvantages of using CRM-
The implementation cost of CRM is very high.
Also, the hardware, software, and other technologies needed for CRM are very costly.
Proper planning is required to implement CRM.
Permission is the biggest problem as everyone in the company will not agree to the use of CRM.
Poor communication, lack of leadership, and knowledge can be the biggest drawback of using CRM.
The use of CRM can go wrong if its implementation is handed with poor knowledge.
Can result in failure and waste of time if not used properly.
COMPASS-
Compass is a multinational company servicing food in sectors of business, education, technology, and much more. It is a leader in food and support services management. It is headquartered in Chertsey, England, and has around 500,000 people.
It is worldwide famous for its support and food services and uses the largest chain of networks around the world and the latest technologies for its company. Also, it has earned the greatest place to learn and earn certification.
It performs a wonderful job of food servicing through an excellent communication system with clients and partners. It has catering and services in more than 70 Countries. It has partnerships with many companies like burger king, taco belt, pizza hut, etc. CRM is used by companies that require proper understanding and relationships with customers if they perform delivery and management services. Many other companies use CRM. Some of them are Salesforce, Zoho Corporation, Hubspot, Pipedrive, etc.
Compass and use of CRM-
Compass is a big company for food servicing and management. It has started using a CRM for better growth. The company launched CRM powered by Contactually in 2018.
Contactually is a CRM-producing platform that keeps track of customers. It works on the principle of cloud computing and works on cloud-based customer management systems.
Other than the use of contractually powered CRM in compass, 32 Contactually employees also joined compass.
Effects of CRM in Compass-
Contactually CRM is an “intelligent” software that has to lead to further development in Compass.
Better communication between Compass and its customers.
The communication level has increased as the work is divided between CRM and the Company.
Many of the Contactually employees entered Compass reducing the risk of handling CRM in unsuitable hands.
Contactually has increased the number of sales and services in Compass.
Other than increasing the growth of compass and its customers the relationship between Compass and Contactually also increased.
The CRM which is used by Compass is Contactually has increased its growth multiple times and has allowed the company to reach its maximum heights. It is a technology that has reduced its dependency of success growth on employees.
It is a very great and time managing tool if used properly and increases the competition between companies by working efficiently like humans.
