Keith Fenner, Strategic Sales Director Softline ACCPAC, discusses how maximising the data collected from CRM activities leads to business intelligence supporting decisions through the whole organisation.
A company`s decision to purchase a CRM solution often revolves around after sales service and account management. Agents collect information creating customer profiles, allowing them to tailor their interactions with customers and to service them better. However, what happens with the data collected? Collecting it is not an end to the process, it is the start.
Maximising data from CRM activities can be done on various levels. The ultimate aim is to get the data speak to move beyond CRM. It should be analysed to create business intelligence that supports strategic decisions for the whole organisation.
There are four levels of speech a company can achieve with their CRM data: vocalisations, first words, integrated speech and fluency in business intelligence.
Vocalisations is often a starting point. When companies decide to create some form of CRM in their organisations, the data collected is usually pretty basic and doesn`t reach very far. The CRM activities lead to several disparate databases constituted of prospects and clients, going as far as having profiles and contact details for each contact.
First words is the next step. It doesn`t take long for CRM to get organised and become an integral activity of a company. At this stage, an organisation understands the need to support CRM with specialised CRM software solutions such as Accpac CRM. A company will usually start clustering its contacts according to the type of relationship to the enterprise, the history of contacts with the organisation and their profile. The data is used for customer acquisition and can only speak about segments and satisfaction.
Integrated speech becomes essential. Before long, the organisation realises that it is essential to integrate the CRM information with other activities in the company, allowing information flow within departments. This integration can be operated via a Web-based CRM platform that integrates with one or more departments of the organisation, such as sales, marketing, supply chain or finance.
While servicing customers, the agents are able to access the correct customer information in real-time with speed and agility as well as perform live updates. Their profiles will be enriched with information such as their channel preference, time preferences as of when to be contacted, and history through the whole organisation. At this stage, the data still speaks for sales and marketing purposes, based on a better vision of customer lifecycle including full history, motivations and constraints, satisfaction or behaviour. Organisations will also get insights about the effectiveness of specific CRM strategies, allowing them to improve over time.
Fluency in business intelligence is about CRM maturity. The maturity comes when an organisation commits to using CRM data to support strategic decision through the whole organisation. This requires an organisation to commit to using the functionality of its CRM software to its fullest extent, creating much valued business intelligence. CRM analytics cross-analyses the data, allowing patterns to emerge. How do specific segments behave? Where is the potential for the organisation? Are there gaps in the customer base? Are there recurrent complaints or demands that can be solved with a new product development? Are they segments that cost more to service?
CRM analytics will take in data from other departments, such as finance logs or Web site click rates creating a more holistic vision. A superficial analysis of data could result in misleading conclusions, piloting strategic choices based on partial information. CRM analytics solutions provide companies with descriptive and predictive models, assisting decisions within the organisation. If automated models are regularly updated by the decision-makers, forecasting and projections will accurately support decisions.
Thanks to Web-based platforms, the data becomes available through various levels of the organisation, instead of being held by a few executives. The various organisational levels are consequently enabled to run their own cross-analysis of the data, tailoring it to their own needs.
At this stage, the CRM data of an organisation reaches its full fluency, supporting decisions at various levels and providing decision-makers with a clearer vision to reach their strategic goals.
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Softline ACCPAC is a global provider of business management applications including accounting, CRM, warehouse management and HR to the mid-range market. Its solutions are delivered to 130 countries exclusively through its network of over 5 500 solution providers worldwide and 130 throughout Africa. Softline ACCPAC`s product line includes: ACCPAC CRM, ACCPAC Advantage Series, ACCPAC Business Analysis Suite, ACCPAC Warehouse Management System, ACCPAC ePOS, ACCPAC Insight and Simply Accounting.
Softline
Softline is a leading provider of accounting, payroll and CRM software solutions to small, medium and large companies. Founded in 1988 by Ivan Epstein, Alan Osrin and Steven Cohen, Softline was established during the formative years of the software industry and listed on the JSE Securities Exchange South Africa in February 1997. Softline expanded to establish a strong position within its area of focus in South Africa and Australia.
Focused on the development of accounting, payroll and CRM software solutions, Softline has a 16-year track record as a market leader. The group has a broad range of products offering users a variety of software solutions to run their businesses efficiently. Softline`s leading brands include Softline Accpac, Softline Enterprise, Softline Pastel (Accounting and Payroll) and Softline VIP. The combination of the group`s product offerings provides Softline customers with comprehensive, well-branded accounting, payroll and CRM software solutions.
In November 2003, Softline was acquired by Sage Group plc, an established FTSE 100 company. The group includes market-leading businesses throughout the United Kingdom, Europe, North America, South Africa and Australia, supplying business software to the small, medium and large business community.
Softline has a solid track record of profitability and cash generation. The group delivers quality accounting, payroll and CRM software solutions that improve the efficiencies of businesses around the world.
Sage
The Sage Group plc, an established FTSE 100 company, is a leading supplier of accounting and business management software solutions and services to 5.2 million small and medium clients worldwide. With over 13 000 employees, the Sage Group comprises market-leading businesses throughout Europe, United Kingdom, North America, South Africa and Australia. Its products and services are sold through a global network of 23 000 reseller partners, 40 000 accountants as well as directly to clients from Sage companies throughout the world. For the financial year ending 30 September 2006, the group`s revenue grew by 22% to lb935.6 million and the operating profit rose by 18% to lb235.8 million.
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