CRM is an approach or a strategy that assists a company to understand customer behavior, improve customer service relationship, streamline business and increase their sales & profitability by analyzing customer data.
Future of CRM
Mainly sales teams use CRM to get reliable information and achieve sales targets but the marketing teams also use it to create campaigns to target prospective customers and retain existing customers. Right from cross-team collaboration, improved sales metrics, heightened productivity, accurate sales forecasting to improved ROI – CRM is everywhere! And as per a research, CRM is a rapidly growing industry and the revenues are expected to reach over $40 billion in 2018. A study shows that the revenues will probably touch $80 billion by 2025.
Chart Source: https://www.superoffice.com/blog/crm-software-statistics/
Benefits of Open Source CRM
- You will get the source code at free of cost.
- Open-source CRM is customizable with flexible functionalities.
- No need to worry about the license.
- Quick response from the active open source community.
- No need to wait long for updates.
- Economical and feature-rich options for smaller and big companies as well.
- Understand Your Purpose:
- Do I need CRM for more lead generation or to get better access to deals & contacts?
- Will this CRM scale my business operation?
- Will this CRM provide out of the box solutions?
- Is the Solution Flexible Enough:
- Suits your Budget:
- How’s the Vendor Support:
- Flexible in Hosting as well: Is the source cloud-based and accessible to open and run on any server? Well, this question is really important because you may need to run it on your server or even in your premise only! An ideal open source solution will provide you with both the options.
- Popular Community: Each open source has a community of developers since its an open source, right? In case you have any issues in development you can check out the community forums or even hire developers at lower rates. Although, always hire experienced tech people who can develop the product you want. Compromising on price is only worth it if you are not compromising on the quality and purpose of the product you’re looking for.