Satish Patil, Ph.D. (Pioneer and Chief), Mitibase Advancements Pvt Ltd: What's up with Current CRMs and the Eventual fate of CRMs in 2022

There is a principal issue with the Client Relationships in The board (CRM) stages. CRMs are commonly worked with an emphasis on clients, leads, and prospects. Notwithstanding, our organization associations are something beyond clients and leads. Customary arrangements like CRM frameworks aren't intended to oversee and follow this organization of connections. Your organization is continuously moving and developing, so continually keeping steady over every one of the information is pivotal.

Traditional solutions like CRM systems aren't designed to effectively manage and track this network of relationships. The result is that companies miss out on key opportunities that they should have captured, while also wasting time searching for intel that should have been at their fingertips. Organizations need to connect with an increasingly global network of clients, investors, partners, vendors, and allies they can no longer meet for business or social.

Business leaders can't afford to lose out on opportunities because they can't get the proper introductions, they've lost track of relationships, or they've crossed wires with colleagues. Out-of-date or incomplete relationship context from traditional CRM tools that many companies rely upon means they lose precious hours or days chasing down the data they need, rather than staying focused on their highest-value activity: building connections.

Automated relationship intelligence technologies give companies a complete look at their network, so they can focus on turning valuable relationships into their next hundred opportunities. Before the pandemic, people could quickly meet and connect with other business folks at business offices and attend in-person events — building relationships and communicating the value they could provide. Today, in the post-pandemic world, the working environment includes more email and Zoom meetings and far fewer opportunities for face-to-face interactions. So the opportunity to use a CRM to build better relationships is vast.

From automating data entry to seeing instantly if someone in your network can make a warm introduction, a CRM with relationship intelligence technology is how companies will compete nimbly at a global scale in this new world. Unfortunately, traditional CRMs force people with manual data entry. Even if all the company's employees consistently log all contacts and interactions, it's still not a complete picture of all connections in the organization's network.

The inefficiencies and crossed wires that come from this lack of relationship context led to missed opportunities for companies. While companies catch up and try to track down relationship intelligence missing from their traditional CRMs, firms with this insight at their fingertips continue harnessing and fostering relationships. Spend your time on building relationships — not doing data entry

Automation is solving the ongoing data entry problem instead of spending hours logging contacts and interactions. By automating the data entry, capturing every interaction, and auto-populating sales pipelines, your company can more easily maintain important relationships with clients, partners, investors, etc. There is a virtual trail of your interactions with contacts, and even many companies miss critical parts when they enter the data into their CRM. With an intelligent CRM, capturing this history is automated, instant, and complete.

It virtually eliminates the inefficiencies and data gaps inherent in using traditional CRMs. The entire company will have access to a trusted single source of truth that includes the network's entire history. In addition, real-time relationship insights instantly answer questions about your network capabilities, giving your organization an edge when other firms are circling the same opportunity. The faster you identify and build relationships, the better off your company is when competing against the new, accelerated business environment. With an intelligence CRM, you can also identify direct introduction paths at a glance and gain insight into who has the strongest relationship with the company or contact you want to reach.

CRM with intelligence on an organization's collective network is a force multiplier With an intelligent CRM, your company can track every interaction and have a data-driven approach to making decisions while staying focused on your network daily — minus the manual data entry. Innovative companies are leveraging automated technology to identify thousands of warm introduction paths. They are using data to identify, track, and execute transactions more intelligently.

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