Study: XRM the Next BTB Step

Share this article:
Business-to-business partnering programs and supporting applications are not enough to help firms slash costs, improve offerings or better serve their customers during difficult economic times, according to a report released by Forrester Research.


According to the research firm, those looking to achieve the next breakthrough must master a new operating strategy it calls dynamic collaboration.


Forrester said that to support this strategy firms will have to deploy a new class of business applications that make dynamic collaboration work. Those applications are called extended relationship management, or XRM, software.


"Firms and their partners can lay the groundwork for dynamic collaboration by starting small with trusted partners to engage in basic information sharing," said Steven Kafka, research director at Forrester Research, Cambridge, MA.


Kafka said firms should invest over time in incremental levels of dynamic collaboration to transform the processes for product design, supply chain and procurement, and sales and service.


Forrester said XRM applications will support each level of dynamic collaboration by letting firms monitor partners' status, manage intercompany transactions and optimize automated decision making. Multiple firms will be able to share a single instance of an XRM application to design and make products more efficiently or to improve customer service.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in News

DMA 2014 Kicks Off Under New Management

DMA 2014 Kicks Off Under New Management

Thomas Benton and Jane Berzan will preside over an event indicative of an association serving a wider array of industry segments.

De Quinto Tapped as Coke's Next CMO

De Quinto Tapped as Coke's Next CMO

The president of the company's Iberia Business Unit will take over from Joe Tripodi upon his retirement in February.

Customer Centricity Is Spurring Marketing-Tech Investments

Customer Centricity Is Spurring Marketing-Tech Investments

A majority of marketers rank customer satisfaction improvements as paramount in the technology investment decisions.