The new report, ‘CRM Market in
India’, states that over the years CRM has evolved from point solution to 360
degree enterprise-wide initiative in India. As of now, CRM implementation in
India is mainly focused on marketing & campaign management. CRM market is
witnessing a steady growth with an increasing trend of expenditure on CRM
across the world. In India, on-premise solutions have higher traction than
cloud solutions unlike developed nations such as United States and United
Kingdom.
In terms of process & function
CRM can be broadly categorized in four segments - Operation CRM, Analytical
CRM, Sales Intelligence CRM and Collaborative CRM. CRM modules cater to three
essential areas of customer relationship leading to customer retention and
acquisition. CRM is easy to implement, integrate & use and it offers remote
access, multi-channel interaction, analytical operation, campaign management
tools in a customized interface as required by the client.
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Large presence of SMBs in India has
proven to be highly beneficial for CRM vendors. CRM adoption by SMBs is
facilitated by both private players and government activities while the
barriers to adoption are mostly internal.
CRM adoption is driven by
enhancement of customer care operations and achievement of global standards.
Further cost reduction capability of CRM and availability of technologically
sound personnel are also catalyzing CRM adoption. However, high cost associated
with CRM solutions and low awareness regarding its advantages hinders its
implementation.
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Transparency is at the forefront of
the changing CRM landscape. India is becoming a promising market for mobile CRM
owing to skyrocketing adoption trend in mobile devices. Social CRM offers
open-ended interaction amongst employees & numerous consumers in the social
networks. Cloud Computing is catching up with the on-premise ICT solutions,
especially Software-as-a-Service (SaaS). Despite a rise in implementation of
CRM in the Indian industries there exists further scope for growth.
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