CRM in Core Sector Companies

I have interacted with many experts in CRM/ERP development and implementations. Almost all of them opine that CRM has limited scope in Capital goods industries. They are not quite right. CRM, Customer Relationship Management was developed primarily to focus on customers of consumer goods, Telecoms and Banking industry.

Today also the almost 80-90% CRM implementations have been in these sectors only. CRM as of today has not been fully accepted in Engineering Procurement and Construction, Capital goods and Core sector companies. These companies are not alive to the benefits these CRM modules can bring about. CRM is a concept and not necessarily a software package developed and marketed by few software behemoths. CRM implementations is supposed to bring with it Best Practices, Evaluation of customers profile, Management of leads/inquiries, Sales closures, Grievance redress and Order execution and closure.

All these activities are quite relevant in Core sector companies as well. However, not necessarily in the same format and style. CRM implementations in these companies require lot of domain knowledge. CRM in Telecoms, Banking and Insurance are mostly standardized. However in organizations dealing in capital goods, the modules are required to be developed based on unique business processes and market dynamics of those organizations. Very few players have requisite wherewithal for developing and implementing these kind of processes. But potential and necessity is there to implement CRM in these sectors also.The benefits arriving out of implementations will be manifold. There will be data classification, trends analysis, market projections, customer complaint analysis, competitors' assessment, Procurement styling etc which will aid decision making. CRM has a long way to go in Core sector companies. The journey has not even begun.

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