Small firms 'boosted by CRM technology'

News Article - 18 April 2008
Category: Technology

Small businesses can substantially enhance their operations and boost sales by implementing customer relationship management (CRM) processes and technologies, a new report claims.

Technology analyst Aberdeen Group suggests that CRM solutions are benefiting smaller firms who can suffer from problems relating to fragmented customer data.

CRM applications can help businesses to obtain and retain market share and customers by providing employees with an accurate picture of customers.

The report states that CRM software and processes can improve productivity, enhance business performance and control costs.

Peter Ostrow, Aberdeen vice president, said: "Best-in-Class companies must conduct win-loss analysis on a regular basis. They need to know why proposals are or are not accepted in order to identify areas for improvement in pricing strategy, marketing messaging, and sales processes."

A poll of over 120 enterprises in February this year revealed that best-in-class firms used CRM to improve the performance of their sales forces and develop an idea of future prospects.

The study, CRM in SME: Sized to Fit, identified a 27 per cent rise in the size of average deals by best-in-class small enterprises and a 16 per cent decrease in sales cycle time, year on year.

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