CRM ROI is an essential metric for any company that is considering or has invested in a CRM system and wants to ensure a positive return on that investment. By measuring CRM ROI, companies can assess the financial impact of their CRM system and make informed decisions about optimising their investment.
Increasing CRM ROI is not easy and requires a well-thought-out strategy.
Biotechnology and Pharmaceutical organisations operate in a rapidly evolving industry that demands innovation and efficiency. Therefore, keeping up with the latest technological solutions is essential for these organisations to remain competitive and positively impact society. Using CRM and other cloud-based platforms for data management and analysis brings many benefits.
So how to increase CRM ROI when the company operates in a dynamic industry such as Biotechnology or Pharmaceutical?
Any business process can be discovered, documented and managed. It will help you eliminate the stages of the process that are defined as futile. You can identify and mitigate reoccurring risks and bottlenecks. With this approach:
- Team members are evaluated based on their impact on the business value rather than on fulfilling formal assignments.
- Project execution becomes more consistent thanks to a single owner of the project-management business process.
- Team members work more effectively on each new initiative as they become more familiar with the process.
- The team participates in the constant adjustments of the process.
Keeping up with the dynamic business processes requires a proactive approach that involves staying up-to-date on industry developments, using data-driven insights, implementing a customer-centric approach, using automation and AI, and focusing on employee training.
Make sure that your processes are constantly adjusted, that your project management is one of those processes, and choose the right IT system to increase your chances of succeeding. It should help modernise your management, streamline the processes and look after your employees’ daily tasks so that your decision-makers have more time to prepare for the challenges of tomorrow.
A connected, agile IT environment is the foundation for a successful organisation. Connecting your ERP with the rest of the technology stack is critical to attaining best-in-class customer experiences, driving incremental revenue, and boosting employee efficiency. It’s an opportunity to reinvent your entire organisation.
Pro-tips:
- Allow your company’s needs to drive integration rather than the other way around.
- Select the integration planning team with caution.
- Confront your anxieties about losing control.
- Determine the integration requirements.
GxP is a general term for “good practice” used to describe the quality guidelines and regulations applied in the Life Science industry that make food and medical products such as drugs, medical devices, and medical software applications.
- The purpose of GxP guidelines is to ensure that drugs and medical products are consistently produced and controlled according to the quality standards set by regulatory authorities.
- Compliance with GxP regulations helps to ensure the safety and quality of products and to minimise the risks associated with their production, distribution, and use.
The future belongs to customer experience.
It is the foundation for building even more robust and closer customer relationships. Therefore, a new approach to CRM systems and their evolution towards CXM (Customer Experience Management) is critical to high ROI. Precise prediction of customer expectations and, as a result, providing them with an integrated and personalised experience is one of the most important trends that will guide the Life Science industry.
Organisations that know how to stay competitive understand a new approach to CRM systems as a central, secure IT system integrated with other ecosystems. They will drive the industry.
Strategic Account Executive
nwantuch@craftware.pl
