Customer relationship management (CRM) software is vital to enterprise sales but turns into a budgetary black hole when mismanaged. If you’re having CRM sticker shock, chances are, there are cheaper alternatives offering more useful features.
Missed sales opportunities, clunky workflows, and misused resources are all issues that make a company rethink its tech stack. A CRM under scrutiny isn’t a bad thing. It’s an excellent time to audit the sales strategy, renegotiate pricing, and optimize the investment for future growth.
Follow the steps below to decide how to adapt to a new solution that help a multi-location enterprise reach its revenue goals.
A thorough review of the company’s CRM strategy identifies areas where the current platform is lacking and paves the way for significant improvements. This exercise empowers the procurement team to prioritize features that enhance the sales process.
First, collect the current platform's usage data, feedback, and cost reports. Use this qualitative and quantitative data to analyze the solution’s performance. Consider the following questions:
Identify the pain points and areas of improvement. Consider input from all user types: daily sales team members, system admins, marketing managers, etc. A CRM solution is exponentially more valuable when effective across multiple teams and workflows.
Insights gathered from the audit determine the next steps. There are two options for moving forward: negotiate with the current provider or start the procurement process for a new solution.
See if there’s an opportunity to renegotiate the current contract. Review the terms and pricing structure, then speak to the account manager. If the vendor values the relationship, they may be willing to work out an amicable deal.
Looking for other solutions is better if the CRM issues stem beyond pricing concerns. Transitioning to a new platform isn’t easy, but having a specific set of needs based on learnings from the current tool refines the assessment criteria.
A global connectivity partner with insight into the entire connectivity lifecycle possesses the expertise required to source and negotiate the most valuable deal. The solution should integrate with all relevant technologies, giving you the confidence to make the right choice.
Considering 'hidden costs' separate from the contract or not considered by the enterprise is crucial. Complex implementation, integrations, and customizations across multiple locations and regions are costly and time-consuming processes.
CRM integration for global enterprises is a major obstacle to overcome that requires a dedicated task force to manage. A typical CRM implementation team includes an implementation manager, project manager, and customer service representative, with some development and product team support.
Prolonged training, ongoing support, and post-implementation customizations will usually incur additional charges. Similarly, training and onboarding is another significant resource investment left to internal IT teams.
Failing to account for these factors complicates budget forecasting and leads to an inaccurate total cost of ownership (TCO) calculation. Even the most popular CRM platforms are challenging to use when these aspects aren't working correctly.
Without streamlined functionality, an enterprise won’t see a strong return on its sales investment regardless of the connectivity provider.
Viewing the CRM as part of a larger connectivity stack creates a unified communication ecosystem that connects all enterprise communication and collaboration solutions.
This strategy substantially improves the CRM's ROI by simplifying workflows, creating operational efficiencies, and reducing overall costs. Automated features and integrated customer data lead to more acquisitions and sustained brand loyalty.
For example, CRMs integrate with social media data to connect customer activities across the web and social sites. Visibility in more data points helps an enterprise refine its customer journey and build more effective marketing campaigns.
Improving customer relationships and driving sales growth through data-focused business tools maximizes the company-wide return on the CRM investment.
Learn from prior procurement mistakes. The current CRM’s weaknesses are jumping-off points for a new solution. Use the following steps to find a shortlist of potential CRM replacements:
If the procurement process is too time-consuming for internal teams, engage a third-party vendor to assist. While many MSPs specialize in CRM technology, a partner who understands the company’s entire technology lifecycle is more knowledgeable about budget and capabilities.
CRM software is essential for enterprise sales but can become a financial burden due to recurring rate increases.
Auditing existing enterprise CRM solutions reveals deficiencies and prioritizes necessary features. Insights from the audit guide decisions on renegotiation or finding a new solution and highlight hidden costs associated with implementation, customization, and ongoing support.
Viewing the CRM as part of a larger connectivity stack improves ROI by streamlining workflows and integrating customer data. However, in-house teams don’t have the time or resources to find a better deal on CRMs and incorporate them over dozens of global locations.
Advantage specializes in optimizing the entire connectivity lifecycle with CRM advisory, sourcing, and implementation as just one piece of the cost-saving puzzle for enterprises. Discover how much enterprises can save by addressing CRM support while optimizing the entire technology lifecycle.
Advantage’s connectivity experts are here to save your enterprise money with the most practical combination of services for your needs.