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Essay / An Analysis of Customer Relationship Management (CRM)
However, they are generally difficult to upgrade, customize, and integrate into the customer's operational activities. On-premises CRMs are more flexible and data is generally more secure. However, they are more expensive upfront and the return on investment is lower. Additionally, businesses must rely on third-party providers who have access to the company's private information. The group map represented this idea with the relationship between end user/customers and cloud computing boxes, as cloud computing helps businesses maintain on-premises CRMs accessible and upgraded online. The arrows represent a mutual relationship because information flows in both directions. The group also shared some of the keys to successful implementation presented by the group: designing a short-term goals strategy that defines specific data to collect from customers. Additionally, we learned that the financial services and telecommunications industries have successfully implemented CRMs, while the manufacturing industry generally struggles to use CRMs.