CRM Spending On Operations Will Decline By 2020 | SupportBiz

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CRM Spending On Operations Will Decline By 2020

 
CRM spending directed towards operational CRM initiatives like sales force automation will drop from 90 pc to to 70 pc by 2020, says Sundeep Rattan Bhatt of C-Zentrix
Evolving technology and business trends are redefining the SME ecosystem. One of the primary needs for any business today is to strengthen their CRM (customer relationship management) techniques.
 
C-Zentrix, the flagship product of Towards Vision Technologies Private Limited (TVT), is helpign organizations across industries to set up and manage their personalized customer engagement center. In conversation with Supportbiz, Sandeep Rattan Bhatt, National Sales Head of C-Zentrix, shares that how CRM will address constraints of SME ecosystem.

Excerpts
 
SB: Budget is the biggest constraint for SMEs to adopt new technologies. How budget-friendly is your technology?
Sundeep: One of the significant challenges that we have solved by our leading Single-box solution is to help SME customers deploy a CRM and a telephony solution all rolled in one. It became an instant hit with most of the first-time CRM solution adopters as it suited their budget and was extremely resource(s/w & h/w) light. We further modified the same solution to suit even those SME customers where the majority of the users may not need to have access to a PC to carry on with the allocated job. We called it the ‘desk-less’ agents and this I would call was a disruptive feature given the limitations of the legacy and the SMART EPBX/IPBX could not match this. The two variants still continue to be the leaders in their segment and extremely budget-friendly to the segment.
 
SB: Can you share some success stories of your MSME/SME customers? 
Sundeep: Triangle Global is a Mumbai-based HR recruitment firm, with a total staff strength of ten people. In 2012 when Triangle had not deployed any solution to automate their calling and process, which essentially is their core process, the annual turnover of the organization was little less than Rs 10 lakh. After implementing C-Zentrix SME solution and in a span of about three years with the same workforce the organization has been able to clock about 20 times more than revenue which is about Rs 2 crore.
 
Another such example is that one of our Pune-based customers Indus Health Plus has been in a position to prevent more than 50K heart strokes in a year with just a team of 15 members.
 
SB: What are the five trends that will rule the CRM segments in the next one year? What are the reasons?
Sundeep: In order to understand this trend we need to understand a broader industry trend, which is like:
 
  • Banking & Finance want to focus on key account management and organizational design
  • Manufacturing wants to focus on acquisition, reflecting the impact of globalization
  • Insurance sector showed a distinct profile of priorities towards people, brand and negotiating indicating the way the sector is dominated by broker relationships
 
The key connect of the above three trends is that all are pointing towards a sector specialized in CRM. The broad trends can thus be summarized as: 
 
  • Currently, 90% of CRM spending is directed towards operational initiatives like sales force automation, but that will drop to 70% of spending by 2020.
  • Meanwhile, spending on social CRM initiatives like customer communities and social media monitoring will grow from less than 1% today to 10% of spending in 2020.
  • Excellent customer engagement requires the right omnichannel strategy, partner ecosystem, and technology infrastructure to meet buyers’ expectations.
 
SB: How has been the journey so far for C-Zentrix?
Sundeep: Team C-Zentrix is moving up the “Value-Chain” with every passing year both in terms of keeping the product relevant to the market as well as implementing the new IP. Our evolution from Single-Box to Cluster and the launch of Cloud has been validated by the industry as “Right Product Right Time”.