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Enterprise CRM Software Buyer's Guide
Table of Contents
- » What is Enterprise CRM?
- » What is the difference between Enterprise CRM and Small-Medium business CRM?
- » What are the features of Enterprise CRM?
- » What are the benefits of Enterprise CRM software?
- » How to choose the best Enterprise CRM software?
- » How much does an enterprise CRM cost?
- » Conclusion
» What is Enterprise CRM?
Large-scale businesses deal with complex customer-facing processes. Customer Relationship Management software helps the business in understanding its customers, and maintaining its activity history. A CRM is vital for a large-scale business, as it brings together everything under an integrated system.
The type of CRM an organization requires depends on its size, and sales model. While smaller companies may choose standard CRM, large companies with complex sales models and multiple departments incorporate Enterprise CRM for large companies.
Enterprise CRM software is designed for large-scale companies that deal with complex data. With so many people involved in the business process, Enterprise CRM allows automation and system customization. Enterprise CRM systems are suitable for companies with robust and complicated requirements. It aids in coordinating cross-functional processes that directly impact revenue generation and involves exceptional customer services.
» What is the difference between Enterprise CRM and Small-Medium business CRM?
One of the biggest reasons why a startup ends up in huge losses is the cost incurred on expensive and mismatched software. A small business does not require an advanced CRM system and can work well with cheaper software solutions. So what exactly is the difference between enterprise and small-medium business CRM?
There is a huge difference between enterprise CRM and SMB CRM. Even though they both serve the same purpose, functionality differs depending on specific needs and business accommodations.
A CRM for small businesses is the initial level cheaper module that caters to small business needs like tracking sales, building customer relationships, and streamlining the marketing process. Traditionally, small-medium CRM vendors develop affordable and easy-to-navigate functional systems.
1. Features
Both small and medium business and enterprise CRM have standard stock of features that are beneficial for companies. For example;
- Report management
- Contact management
- Sales pipeline management
- Task management
- Capture and centralize customer-oriented data
- Customer service support
However, there are a set of type-specific characteristics that differ in both types of business. Although small-scale business utilizes limited software resources, the requirement expands as they grow. They may accommodate customized CRM software with all required functionalities to suffice their requirements.
Contradictorily, enterprise business needs to streamline the process and assemble each line to run a successful business. They require elaborate features and deploy actively working software into the system. On top of a standard stack of features, enterprise CRM software for large companies may look for the following attributes;
- Marketing and sales automation
- Email automation
- Customer opportunity management
- Sales analytics
- Sales forecasting
- Advanced contact management
2. Deployment
In terms of deployment, enterprise CRM tools for small-scale businesses are cloud-based and can be accessed from anywhere in the world. This is perfect for SMBs as they do not need to worry about the cost incurred for setting up hardware and proper servers to maintain the system.
However, enterprise CRM is usually an on-premises system that offers a better sense of security and data control. As big companies deal with infinite customer data every day, they need a concrete system that downtimes data theft.
3. Pricing
Enterprise CRM is expensive. Large-scale companies need advanced features, brand names, and a lot of other things to run a successful business. Hence, they choose to buy an enterprise CRM system that offers long-period subscriptions and advanced attributes.
On other hand, small businesses and medium-scale associations look out for affordable solutions that provide standard features and offer customization. These solutions cater to petite requirements and are available for monthly or annual subscriptions.
4. Integration
SMB CRMs are usually pretty much ready to use. These can be installed as soon as they are purchased. Whereas, large enterprises prefer customized CRM that can well-integrate with business workflow.
Similarly, SMB CRM is fairly simple and easy to understand because of its limited features. It doesn’t require any rigorous training and can be deployed faster. CRM customized for large companies is complex. Employees require proper training before trying their hands on this system. Hence it takes time to integrate such a system into big companies.
» What are the features of Enterprise CRM?
An effective top enterprise CRM can take over a large part of the workload through automation, customer process management, and impacting direct sales. Here are the key features to help you pick the best CRM solutions;
1. Opportunity management
Large businesses require powerful technologies to track negotiations, and quotations, analyze prospect behavior, and pinpoint the chances, most likely to produce fruitful outcomes.
Best CRM software for enterprises must be able to handle additional opportunities in addition to managing prospects. CRM solutions must have the ability to interact with potential customers, foster relationships with partners, and monitor ongoing affiliations.
2. Advanced lead management
Business requires a thorough yet user-friendly database that tracks all pertinent client data, including support history, appointments, and customer feedback in addition to purchase history and customer information.
Top enterprise CRM software should be accessible to other related departments such as marketing and consumer service. This will ensure a more streamlined approach to customer satisfaction and lead generation.
3. Sales analytic management
CRM software for big companies includes tools to gather information from multiple sources and generate sales reports and advanced analytics for the company’s growth. Large companies require CRM that recognizes issues and can proactively gain real-time insights into the sales process.
4. User permissions
Larger companies mean a huge number of employees who have access to CRM systems. Although each user needs to access vital information, that doesn’t mean providing unrestricted access that may probably expose the company to security flaws.
CRM solutions with user permission feature ensure that each user accesses vital information, relevant to their permission. Hence, look for CRM solutions that allow you to assign access in batches depending on the user’s role, departments, or other criteria.
5. Integration
Interlinking CRM systems with other departmental software are important for the smooth functioning of large-scale businesses. Comprehensive synchronization is essential for companies all over growth. Well-integrated CRM solution comes in handy during marketing campaigns, lead capture, follow-ups with customers, and carrying out multiple interactions with converted customers.
6. Analytical dashboards and reports
Reports and dashboard analysis are one of the most prudent features to look into CRM solutions before integrating them into the business system. Real-time data analysis and sales forecasts are vital for companies. By using statistics the right way, business gains competitive advantages. Cumulative reports act as key metrics behind successful sales activities and customer acquisition.
7. Partner and Channel management
Onboarding, training, and recruitment is a tedious process that may take a lot of productive time. An Enterprise CRM is the best fit when it takes over the charge of partner onboarding and customizes channel programs by observing KPI scores minutely.
8. Robust customer support
Enterprise CRM applications with robust customer support are more welcome than any other software. Not all employees are competent with the technical aspects of new software applications. An active customer support system helps users to enrich themselves with the right amount of knowledge on the software.
Besides the above capabilities, other derivative functions expected from enterprise CRM tools are;
- Business intelligence
- Inventory and purchase management
- Shipping and logistics
- Accounts management
- ERP integration
» What are the benefits of Enterprise CRM software?
1. Boosts interdepartmental cooperation
Enterprise customer relationship management (CRM) software solutions are responsible for collecting customer information and passing it to other pertinent departments. Receiving in-app notifications of client queries reduces your response time. It becomes easier to transfer queries to relevant agents and speed up resolutions. Right from coordinating sales, to providing support, CRM ensures the smooth functioning of department activities.
2. Centralized customer information
Centralized customer contact and a unified view of client information aid companies in delivering high-grade support and services. A dedicated CRM software solution keeps customer information in an organized manner and provides scope to add in every vital information like phone numbers, emails, offers, interaction details, etc. Digitizing and centralizing client information over CRM solutions is a secure way to handle sensitive data.
3. Streamlines sales process
The CRM software solution connects with team members and coordinates with them throughout the sales process and leads acquisitions. This allows the management to simplify the overall operation management task of building customer relationships.
4. Improve customer satisfaction
Instead of relying on spreadsheets, planners, or any other tool, management may adopt enterprise CRM solutions to execute dedicated courses of action. With this, companies can keep complete track of customers’ journeys and make efforts in building healthy relationships with clients. Companies can identify stable customers, reduce marketing and timely intervene in providing the best customer services.
5. Accessible
In a competitive market, the best enterprise CRM solutions are available at highly affordable prices and with the best features. They are cloud-based SAAS solutions that are accessible from any device like desktops, tablets, smartphones, etc. Remote location accessibility allows taking calls, closing deals, increasing productivity, and answering inquiries without wasting time. It not only speedups up the work process but also helps in generating quick revenue for the company.
6. Multiple channels and partner management
Enterprise CRM plays a vital role in managing multiple departments and partner onboarding management. Large enterprises are bifurcated into multiple departments and handle huge numbers of employees. A good, functional enterprise CRM tool takes charge to manage employee recruitment, training, and onboarding successfully.
» How to choose the best Enterprise CRM software?
There is no one size fits all CRM solution, so picking the best one is a significant task. Just like any other thing, selecting the best CRM software system depends on a variety of factors.
Before finalizing the best CRM software for large companies, management must take some time out and discuss with the team on below points;
1. Company goals
Although the CRM software system is highly customizable, company requirements vary depending on their types and size. What is better for a construction company may not work for retail outlets. There is an endless collection of enterprise CRM available in the market to select from. Hence, it is essential to examine business specifications, customer behavior, and company goals.
2. Ensure software integration with existing infrastructure
Ensuring that your CRM integrates well with existing software improves customer experience. It also helps in aggregating data from multiple touchpoints and achieves the company’s goals.
3. Rank your CRM requirements
Mapping out CRM requirements effectively helps in achieving business goals. It is important to figure out requirements and rank them as per business needs. The more precise is your list, the more it helps in getting the best-fit CRM for the business.
4. Employee training
When you integrate a new CRM into the business, your employees must know how to operate it. Best results can only be achieved by understanding the features of newly enforced software. Hence it is better to choose a CRM that provides employee training along with the onboarding process.
5. Advanced features
Now, what is the use of a CRM system without ample features to boost sales and revenue? Business objective revolves around providing best customer satisfaction which would not be possible without effective features.
» How much does an enterprise CRM cost?
Best enterprise CRM systems can produce massive returns on investment over time, but a business sales team must choose an affordable system.
Generally, CRM is priced per user, per month. Hence you need to multiply the base cost of CRM by the number of people on your team. Most CRM software for large companies offers packages that include advanced features like customized reporting and sales automation.
Commonly, an advanced enterprise CRM with basic capabilities starts from $35, per user, per month to $1800 annually.
» Conclusion
Customer relationship management software is a tool that helps businesses improve their connection with existing customers. An enterprise CRM solution is a more-encompassing system that consolidates customer-related workflows on a single dashboard. This system is relatable to businesses that are interested in constantly improving their customer services and the quality of products. Enterprise CRM is tailored to suit large companies that deal with huge information and consumer data. CRM is a huge game-changing system and with the best enterprise CRM, the capabilities double to make it more powerful.