Let us now consider what are CRM Platforms in this post. we will also discuss its different types. So, scroll down to learn more about the topic.
What Are CRM Platforms?
A CRM platform is software that facilitates an organization’s operations in managing the entire customer relationship life cycle. It is a platform for integrating various functional areas of a business and is designed to support CRM strategies.
Different Types of CRM Platforms
So, let us now look at the different types of CRM platforms that are available in the market today.
1. On-Premise CRM Platforms
These are software platforms that run on your server or a local area network (LAN) at your office location. The software is installed on your hardware or leased hardware from a hosting provider, which may include hardware and/or software maintenance costs with it. You need to pay for using these systems which also includes all future upgrades and support services as well as maintenance costs when required after the initial purchase price is paid off.
2. Cloud-Based CRM Platforms
These platforms run on a cloud infrastructure provided by third-party vendors like Salesforce, Oracle, and Microsoft who offer their hosted solutions as SaaS (Software as a Service). These solutions are available over the internet so that they can be accessed from any computer using any web browser without having to install any software locally on your computer system or network. This means that there are no installation or upgrade fees for these systems and there are no maintenance or support costs either.
These solutions are available at a much lesser cost than an on-premise system and have a better return on investment (ROI). This is the reason that they have become so popular in today’s business environment. These cloud-based systems are also very scalable. It is easy to increase the number of seats in the system by paying for additional seats as required. These CRM platforms can also be integrated with other enterprise applications.
3. Hybrid CRM Platforms
These platforms are a combination of on-premise and cloud-based systems. They can be installed on your network infrastructure remotely and can be accessed from any computer, similar to cloud-based systems. However, you do not have to pay for the hosted solution regularly.
These systems can be accessed only by authorized personnel in your organization and the data is stored at your premises, so these platforms are similar to on-premise systems in this regard. However, they do offer better flexibility and scalability compared to on-premise systems and they also have a lower CAPEX requirement as compared to an on-premise system.
So, hybrid CRM platforms offer the best of both worlds.
What Are the Key Benefits of Using a CRM Platform?
The following are some key benefits of using a CRM platform in this post.
1. Improved Customer Satisfaction
2. Better Marketing and Sales Effectiveness
3. Reduced Costs and Improved Operational Efficiency
4. Enhanced Collaboration and WorkFlow
5. Increased Productivity and Reduced Overhead Costs
6. Reduced Churn Rate – Higher Customer Retention Rates
So, here we have looked at what CRM platforms are and some of the benefits of using them. I hope that this post has been helpful to you.