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CRM_7 results-based selection criterion_50609

CRM_7 results-based selection criterion_50609 - Presented...

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TM Presented by: Vendor Guru Customer Relationship Management: Seven Essential Results-Based Selection Criteria by Richard Barrington
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Page: 1 Introduction Choosing a Customer Relationship Management (CRM) System is a high-stakes decision. To make this decision with greater clarity, a company should not start by focusing on the details that distinguish different CRM systems. That should come later, only after the Frm has done a thorough assessment of its needs and determined what it wants a CRM system to accomplish. This way, it can use results-based selection criteria to Fnd the CRM solution best suited to its needs. This white paper will introduce some of the relevant issues by giving a brief overview of the CRM industry, and then moving on to describe seven key selection criteria. These criteria are results-based, in that they are phrased in terms of what the company might need the CRM system to be able to accomplish. Finally, through three case studies, this paper will show how three very different companies chose CRM solutions by coming to terms with their unique sets of needs and circumstances. CRM Software: Industry Overview When thinking about the possibilities and requirements for a CRM system, it is helpful to keep some industry trends in mind: • Growth remains robust. Despite some growing pains, overall CRM revenues continue to experience double-digit growth. CRM software revenue is expected to exceed $11.4 billion by 2011. This is a testament not only to the number of companies adopting CRM systems, but to the increasingly far- reaching applications those systems are having within companies. • Software as a Service (SaaS) is gaining share. Hosted CRM applications are part of a broader trend toward SaaS or “cloud” computing. While this is still a minority of the CRM market at 12%, it is gaining share. • Providers are consolidating. There have been some mergers and acquisitions in the business, and market share is starting to concentrate more in the dominant providers. • Implementation remains a challenge. Getting user adoption remains a key barrier. Not only are implementation problems frequent occurrences, but they tend to be pretty high-proFle incidents within a company. CRM providers recognize this issue, and are increasingly providing implementation consulting and support. • Data delivery systems continue to diversify.
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