Operational CRM V/S Analytical CRM:
Occasionally, all businesses are required and expected to sort out their business priorities. Making a decision for the right CRM software for your business is definitely one of such occasions.
Here, you need to choose between an Operational and Analytical CRM platform. For getting maximum benefits, different departments such as marketing and sales require different utility and automation features. This may put your internal teams at cross hairs. Adding to that, high investment and commitment turn it into a high stakes decision.
As both the terms, Operational CRM and Analytical CRM actually appear abstract, let’s look into what each of them actually describes.
Operational CRM lets you handle and coordinate between your team and processes in an efficient way. Processes oriented CRM toward lets you prioritize and streamline tasks.
Operational CRM is geared for optimal management of your teams and processes. You can also prioritize and streamline tasks between multiple teams. Analytical CRM is conceived for collecting, organizing and assimilating different sources of business data. It enables you to glean insights to organize your business in better ways.
Five Sources of Inefficiencies in organization
Irrespective of its attached utility, the primary objective of a CRM system is developing and running a sharp and agile business system.
CRM system is geared towards creating an efficient business system to gain a much-needed business edge. It also enables you to reach and leverage previously inaccessible business opportunities.
According to studies, the primary sources of inefficiencies in business are caused due to these main reasons.
As per studies, there are five main sources of inefficiency in a running business. These could be mutually exclusive or could be caused due to each other.
- Lacking Proper Incentives
- Lacking Prioritization of Tasks
- Getting decisions wrong or delayed
- Lacking Agile and smart Processes
- Lacking proper system Monitoring
Commonly, the effects of each of these factors could vary from organization to organization. But these are the most common effects that seem to affect organizations at their core.
By addressing these five independent issues, you can get closer to having an efficient business system.
Operational and Analytical Application for CRM
Businesses face multiple scenarios in their daily operations. Some of these could be resolved by process iteration and optimization. Others require actionable insights collected through intelligent data and analytics.
Here are the five basic causes for dropping organizational efficiency and CRM achieving a greater proficiency of processes.
Identifying and Rewarding Employee Contributions
According to studies, organizations which are successful at promptly rewarding employee contributions grow faster and enjoy the much higher quality of operational standards. As they have a focused and productive workforce, they also enjoy a much leaner and agile process management.
Process-oriented CRM is better suited to include comprehensive features that complete an incentivized system – unified Task and employee dashboard, Ticketing System, Individual employee account etc.
Meanwhile, you may notice that these also consist of features concerned with data management. You always need to collect and divide the collective work. You are also required to assign responsibilities to concerned team members.
Need for optimized Workflow and Task Prioritization
An ability to divide your completed tasks in a pre – disposed manner will increase your team efficiency. By optimal workflow, you can segregate and prioritize between different tasks and departments.
Every business needs to create a system of optimal workflow to segregate and prioritize between different departments.
CRM integration can streamline all pending tasks to a uniform dashboard. You can also facilitate an efficient strategy to divide tasks between internal teams.
Prompt and Right Decision Making
An Indecisive business suffers the most due to increasing competition. By handling a large number of options, prospects simply don’t have the patience or attention to wait for a pending decision.
At the same time, you cannot rush through business decisions by risking profit margins.
In this scenario, you need to be sure about each decision. For this, you need to apply both analytical and operational features in your CRM.
CRM reports and analytics lets you assess past successes in your decisions. By combining all tasks into a single dashboard, a concerned manager can take prompt decisions based on past data.
Creating Lean and Agile Processes
Businesses with effective Workflow system can calibrate different tasks according to significance. But creating a lean process can deliver you a better way of managing organizational obligations.
You can also systematically remove inefficient processes by collecting and assimilating different sources of data. For this, you could cut-down and streamline processes to create an efficient process.
As these iterations are based on insights, you need to have an integrated reporting and data collection system.
Lack of Process Monitoring
Even with a well-organized workforce, non intrusive monitoring can increase work output by 10%. It is achieved by providing consistent work output that potentially removes the source for slacks.
As operational CRM can divide and assign tasks among a large number of team members. By individual employee dashboard, you can keep track of every employee’s concerned productivity level. It also helps you to readily recognize and take remedial measures for any inconsistency.