How BPM improves, CRM can be understood with the fact that it is difficult for a company to achieve the target of customer profitability in the absence of a business performance management or BPM system. Different CRM software provides different facilities. Some of the CRM packages help with the transactional customer data only. On the other hand, some other packages are capable of making very wide customer analysis. However, no matter how much advantage financial experts of the company may seek, they have to relate this information with the important factors that affect the overall performance of a company. They need to balance the customer satisfaction, employee satisfaction and operational quality control.
Comparatively, not so interesting people in the filed of finance when talk about how BPM improves CRM, put forth an interesting analogy. They compare the situation of analyzing data from the CRM tool for leveraging BPM by a company with the person who has poor vision first time puts on spectacles. Confusions surrounding the customer profitability metrics are no more. Similarly, misrepresent perceptions, regarding the behavior of customer when we use very different data sources, have also become irrelevant.
Figuring Out Most Profitable Products; The views of many financial executives are changing regarding how BPM improves CRM. They now see customers in a very different way. Customers are now a consolidated and comprehensive lot rather than a fragmented one. This has resulted in better understanding and improved relations with the every single customer they serve. Moreover, now companies can easily find out what are the products that are generating most profits. This has helped the companies to set the future targets more realistically.
Linking Data With Strategies; Another point that proves how BPM improve CRM is that companies were unable to connect the data and their business strategies when using data from enterprise resource planning or ERP system and CRM system. On the contrary, linking the data with the strategies is easy while using BPM system. Moreover, the distribution of important data becomes more efficient by using the combination of CRM and BPM capabilities. It also helps in locating and concentrating the geographical areas where maximum profitability is expected. According to financial experts, it is not the tool that affects your company’s performance, but it is the way you move the information. What is the point in having so many systems if the information is not reaching to the right person at the right time?
Finally, we can say that BPM system, if used with a right approach, can help the company in taking maximum advantage from the CRM software asset.
Alexander Gordon is a writer for http://www.smallbusinessconsulting.com - The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.
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