In today’s ever competitive business world, providing an optimum product or service is not always enough to secure and maintain a healthy base of customers. Indeed, these days it seems that more than anything else, company client relationships are the most fundamental aspect of any successful business. As such, enterprises are tripping over each other in a rush to find tools that will help them to keep their patrons happy.
Customer Relationship Management Software is one of the most efficient of these tools and its market reflects that. Indeed, as of 2012, the Global CRM Software Market was valued at close to $ US 20 billion and that number is forecasted to continue rising at a CAGR of 9.09 percent for the 2012-2016 period.
However; even though the benefits of CRM software are undeniable, the long list of advantages offered by the technology might also be one of the market’s downfalls. When CRM software was first introduced, it was embraced as a way to maintain contact details of their existing or prospect customers, including details such as name, address, phone numbers, call records, and purchase history.
Recently, many vendors are producing next-generation CRM software has been developed to include deal tracking, territories, opportunities, sales pipeline, and other tools for other client-interface business functions. These are all great features, but not if end-users don’t know how to manage them.
The increase in the scope of CRM software has led to a subsequent increase in the complexity, and such a highly complex computer system can lead to a non-friendly user interface. This issue has the potential to be a huge deterrent for business with limited IT support.
All this being said, it’d be a long shot to say that this issue is enough to stop the rapid expansion of the Customer Relationship Management Software Market. Especially when you consider the many applications in the CRM pipeline, including solutions developed specifically for the growing mobile market.
With the emergence of smartphones and new mobile form factors such as iPad and similar products, the mobile dimension of CRM is sure to attract the attention of many companies. These applications are expected to take company client relationships to a higher level, and allow for improved ease-of-use and functionality…and to think, this is just the tip of the iceberg. We can’t wait to see what’s next!
For more information, view our 2012-2016 report on the Global Customer Relationship Management Software Market.
