Dean Swan, General Manager Asia Pacific and Japan, monday.com says embracing the modern era of CRM is not about upgrading software – but reimagining organisation-wide operations.
In an era defined by digital transformation and the rapid evolution of technology, many business leaders find themselves grappling with an array of disconnected tech tools and platforms. Globally, knowledge workers use an average of 10.5 technology tools per month and believe they could save over 10 hours per week if these tools were consolidated.
The need for tech consolidation has found a prominent place on the executive agenda as enterprises look to unlock efficiency and productivity gains, while effectively managing their tech ecosystems and optimising return on investment. Through this consolidation process, business leaders are expanding their perception of Customer Relationship Management (CRM) platforms beyond customer applications and assessing alternative use cases. This shift in thinking comes from recognising that several functions can be condensed into a unified platform to remove the reliance on multiple systems and tools.
The migration to modern CRM
Traditionally viewed as a tool for sales teams, CRM has transcended its original purpose and now offers far-reaching benefits beyond the sales cycle. With a modern CRM, companies can pull disparate information into a single, unified platform. This enables them to manage customer and supplier relationships as well as employees, processes, partners, assets, and just about any other operations capable of being tracked in a centralised database.
The leading criteria for purchasing CRM software are price, ease of use, and functionality. Whether you’re a small business looking to grow sustainably or an enterprise managing intricate client relationships, CRM can prove transformative to how an organisation functions. Acting as the connective tissue, the core functions of CRM are capable of streamlining operations, improving collaboration, and supporting the organisational agility required to scale.
Nearly half of all businesses that adopted a new CRM system had previously relied on everyday office tools like spreadsheets and email to streamline processes rather than utilising the platform for wider business operations. These traditional tools can lead to workflow challenges, including decentralised contact information storage and inaccurate interaction tracking, resulting in organisations turning to a more agile CRM, drawn in by features including:
- Speed to market — The modern CRM can improve speed to market keeping businesses ahead of competitors and in line with customer expectations, which is increasingly important for businesses spanning all industries against the current economic climate.
- Flexibility — The ability to customise CRM solutions to fit into existing workflows allows businesses to seamlessly build tailored solutions that align with team preferences.
- Seamless Adoption — By consolidating workflows into one holistic platform that’s intuitive, visual and simple to use, companies are putting their teams in the best position for success with reduced tech stacks enabling greater productivity and time for deep work.
Cross-industry advantage
The modern CRM’s universal appeal is underscored by its ability to adapt to the unique needs and challenges businesses face, across industries spanning sales, healthcare, marketing, manufacturing, and many more. Take manufacturing as one example. This sector is characterised by intricate supply chains and diverse customer relationships and has faced several challenges over the last few years ranging from inflated input costs to supply chain disruption. The result has been a propelled shift in operations to streamline and save costs. By consolidating systems into a flexible CRM solution, manufacturers can centralise critical information beyond supplier relationships to incorporate wider information – from customer orders to production schedules and inventory levels. This centralised data access can help eliminate siloed systems, reduce inefficiencies and improve coordination across departments. It allows manufacturers to gain valuable insights into customer preferences and buying behaviours, ensuring products and services are tailored more effectively. Manufacturers that embrace modern CRM technology can expect improved operational efficiency, reduced production costs, and increased customer loyalty.
Similarly, retailers can streamline inventory management through today’s CRM, helping optimise stock levels, and generate better cost control. The software equips retail companies with deeper insights into operations, enabling more informed decision-making when looking at inventory, pricing, and marketing campaigns. Take Australian swimwear brand Budgy Smuggler, which was facing challenges managing the growing production of custom-branded swimwear and looking for a solution that could scale with them. The company implemented a customisable CRM, streamlining communication and providing automatic alerts at every stage of the manufacturing process. The shift in operations generated improved customer satisfaction and significant time savings for the team. For other retailers, building a comprehensive view of customer data can better personalise marketing strategies and enhance customer engagement, generating improved customer satisfaction, brand loyalty and sustainable growth in a competitive market.
Leveraging the capabilities of modern CRM for long-term strategic goals
Modernising company operations through today’s CRM is not just an option; it’s a powerful strategic decision. Through centralised data, automation, and data-driven insights, CRM solutions empower organisations to improve processes, deepen relationships, and quickly adapt to changing market dynamics. Embracing the modern era of CRM is not about upgrading software, but reimagining organisation-wide operations and ensuring sustained success in an evolving business landscape. Today’s business environment requires a modern, agile approach to managing both internal teams and external customer or supplier relationships.
