Medtech firms are reexamining the benefits of customer relationship management systems and finding implementation easier this time around. Customer relationship management (CRM) was the much-heralded topic of the last decade, especially for companies seeking greater customer focus in their organizations. Yet now, amid reports that the postimplementation scorecard for CRM is, at best, mixed, many medical technology executives are left wondering what to expect from CRM and whether such initiatives can truly benefit their organizations. This article explores why organizations pursue CRM initiatives and what can be expected from these efforts. Various technology approaches and software options are reviewed, and tips are provided from medtech executives who have implemented CRM initiatives. Customer relationship management is a disciplined business strategy to create and sustain long-term, profitable customer relationships. Many companies pursue CRM in order to streamline or automate customer-facing business processes. It's about being quicker, better, and more responsive to their customers' needs. In short, most companies pursue CRM to elevate their positions in the marketplace by better serving customers, lowering their transaction costs, or both. CRM usually involves application software that is used by employees in customer-facing functions, such as sales, service, and marketing. "CRM helps to generate leads, turn prospects into customers, and track the ongoing relationships as customers become repeat customers," says John Borden, CEO of Lightyear Direct (Roswell, GA), a company that makes digital imaging equipment and software for the dental industry. Technology enables the CRM process, but successful companies are quick to point out that the technology itself is simply a means to an end. "CRM is the tool that helps you track customer relationships," says Sandy Schneider, marketing manager at Lake Region Manufacturing Inc. (Chaska, MN), a contract manufacturer of minimally invasive medical devices. "When it comes to building relationships, it's still a personal interface. CRM
Products & Services
Customer Relationship Management Software (CRM)
Customer relationship management (CRM) software is used to support business processes and to find and retain customers. Typically, CRM software consists of modules such as sales force automation, call management, self-service, etc.
Supplier Relationship Management Software (SRM)
Supplier relationship management (SRM) software enables businesses to manage the relationship between buyers and suppliers. SRM software can be integrated into an enterprise resource planning (ERP) system.
Retail software is used by small-to-medium size businesses to calculate taxes, manage inventory, run payroll, and determine pricing. Users include point of sales (POS) stores, retail outlets, and warehouses.
Customer Service and Support Software
Customer service and customer support software are methods that companies use to interact with clients and customers. Methods include employee training and special purpose customer support software
Topics of Interest
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