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Managing multiple customer relationship management (CRM) systems or siloed data can be challenging for many companies. The rise of technology has made it easier for businesses to store and access customer data, but this has also resulted in the proliferation of different systems and databases that can be difficult to integrate and maintain. The consequences of not having a cohesive and centralized data system can be significant, ranging from duplicated information, data loss, and increased costs to decreased customer satisfaction and lost opportunities for growth.
1. Data Duplication
One of the biggest challenges companies face when using multiple CRMs is the duplication of customer data. When data is stored in different systems, the same customer information may be entered multiple times, creating a host of problems. For example, salespeople may be unaware that a customer has already been contacted and may reach out numerous times, which can irritate customers and harm the company’s reputation.
2. Data Inconsistency
Data inconsistency is another major issue companies face when dealing with multiple CRMs. When data is stored in different systems, the same information may be entered differently in each system, leading to conflicting and inconsistent data. This can make it difficult for companies to have a complete and accurate view of their customers and can negatively impact decision-making and customer engagement.
3. Inefficient Data Management
Managing data across multiple systems can be time-consuming and inefficient. The manual process of transferring information between systems can take significant time and resources, leading to increased costs and decreased productivity. This can also make it difficult for companies to quickly access important customer information when needed, leading to missed opportunities and decreased customer satisfaction.
4. Lack of Data Integration
Lack of data integration is another issue companies face when using multiple CRMs. Without a centralized data system, it’s difficult to share information between departments, leading to silos of information that can’t be easily accessed or analyzed. This can prevent companies from having a complete view of their customers and can limit their ability to make informed decisions.
5. Increased Risk of Data Loss
Storing data in multiple systems increases the risk of data loss, as data may be accidentally deleted or lost during the transfer process. This can lead to decreased customer satisfaction and legal and financial consequences if customer data is regulated under privacy laws like the European Union’s General Data Protection Regulation (GDPR).
The good news is that these issues can be addressed by centralizing your data. By integrating all relevant customer data into a single system, companies can eliminate duplication, inconsistency, and inefficient data management – the question is how!
To answer this question, we’re hosting a webinar with our data-centric partner, Vertify, “Cracking the Multiple CRM Code,” where we’ll step up and face these challenges together. In this webinar, Wayne Lopez, the Chief Product Officer at Vertify, and Josh Gilchrist, our VP of Sales & Strategy, will discuss the common issues experienced by companies with multiple CRMs and siloed data, and how CRM unification can help overcome these challenges. They’ll also demonstrate how Unified CRMs can help companies integrate their data and streamline their processes, leading to increased efficiency, better customer engagement, and improved business performance.