CRM or Customer Relationship Management refers to a system which integrates the management information of an entire organization encompassing customer relationships. The activity is automated by CRM systems using an integrated software application.
Hosting refers to a subscription model or software deployment which involves the residing of an application on the software provider’s remote server instead of the onsite servers of the customers.
In case of hosted CRM or Cloud CRM, the CRM Software is delivered through a server in a remote location to the end users via internet.
Medium and small organizations are benefitted by the technical and financial business advantages of hosted CRM.
Some of the major Advantages of hosted CRM are:
- It is available at a minimized initial cost as a substantial upfront investment is not required by hosted CRM, unlike the conventional CRM solutions. With the help of hosted CRM, the extra burden of maintaining, implementing and updating is shifted to the solution providers from the customers.
- The cost of installation, integration of additional hardware and hiring of professionals for further software support is totally eliminated by this system. This makes them highly useful for medium and small organizations working on limited IT resources and tight capital budgets.
- The return on investment is increased and accelerated by the use of hosted CRM. This is because unlike the onsite CRM systems, the hosted system has the ability of easier implementation and faster integration to the day to day business of the organization. This helps the hosted CRM to be ready within weeks instead of months and years in case of onsite systems. Thus the organizations are able to realize the business benefits at a much earlier stage, resulting into greater return on investment, rapid payback and a reduced total cost of ownership.
- The usage of the hosted CRM system leads to a reduced dependence on the IT resources present within the company. This is attributed to their requirement of fewer technical resources for management as the hosting provides administration of hardware, software and the network. Thus the strain of the internal IT department gets reduced, enabling to focus more on business building and other tasks.
- One of the major advantages of hosted CRM is its smooth up gradation procedure. The usage of traditional CRM software involves the waiting of the organization for the next release in order to benefit from upgrades, latest features and security patches. Moreover the complexity, cost and potential disruption of shifting to a new onsite software version prevents up gradation to the newest version. All these problems are eliminated by hosted CRM as there is continuous up gradation and addition of latest features rather than waiting for customization and latest technologies.
- The hosted CRM systems help in better management of cash flow of the organization. This is made possible by supporting the business growth even with predictable and low costs, which scales with the actual use of the solutions.
- Hosted CRM is known for its great flexibility as it can be easily changed as and when required to meet the changing requirements of the business. It also involves the addition and removal of users on demand at the simple change of the monthly subscription fee, thus helping in the growth of cyclical and seasonal businesses.
- Hosted CRM is responsible for making the internal IT resources free and available for more valuable works of the organization.
- A high level of accessibility can be provided by hosted CRM solution as they can be viewed by any web browser from any location.
- When there is a risk of third party intrusion, hosted CRM provides the maximum level of security possible.
- The added advantage of hosted CRM is the automatic data backup system which allows easy retrieval of data in case of any disaster.
FinCRM.com is the best hosted CRM Software. Using FinCRM.com hosted CRM Software; companies can manage customer data, access business information, automate sales and marketing process and increase productivity.