CRM Necessary for Success, Study Says

Share this article:
Nonintegrated business processes and associated technologies contribute significantly to the failure of customer relationship management implementations, according to a report released yesterday by the META Group, a research and consulting firm.


The report, titled "Integration: Critical Issues for Implementation of CRM Solutions," said failure to integrate CRM business processes and technologies will have "significant ramifications" for a business.


These ramifications include longer time-to-market; slower implementations; increased management burdens; increased investment costs; lack of synchronization across customer touch points; inconsistent and inaccurate data to manage the company; and lack of synchronization between demand and supply chains.


The report said companies that do undertake integrated CRM initiatives coupled with careful architecture and business planning will bring increased operational efficiencies and will improve customer satisfaction and retention.


META Group said a successful CRM initiative has to be based on a holistic view of the customer life cycle, from initial engagement to transaction, fulfillment and service.


The report also said the challenge for most companies will be to integrate not only technology across the life cycle, but also a company's business practices.


Share this article:
close

Next Article in Data/Analytics

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Data/Analytics

MeritDirect Introduces Predictive Marketing Suite

MeritDirect Introduces Predictive Marketing Suite

New solutions include next logical product and customer lookalike modeling. The long-time direct marketing player announces it will open a San Jose office in September.

App of the Week: Refresh

App of the Week: Refresh

Cool or creepy? Refresh provides data that aims to help marketers and salespeople spark relevant in-person customer conversations.

Data Helps Wyndham Hotel Group Deliver a Five-Star Experience

Data Helps Wyndham Hotel Group Deliver a Five-Star ...

The hotel company relies on technology to ensure that its rates and inventory are in sync across platforms.