Everything You Need to Know About the CRM System

The CRM system has helped hundreds and thousands of businesses across the globe. To cut things short, it automates data and makes work easier for any personnel in the company. Rather than just viewing CRM as another software, however, it is also advised to acknowledge how the system has incorporated a customer-driven philosophy during the past years.

What is CRM?

CRM, which stands for Customer Relationship Management, is an effective business strategy to reduce operation costs and increase profitability. It is designed to cater to customer satisfaction, advocacy, and loyalty. Effective CRM gathers information from all data sources made available within a company along with appropriate sources from third parties – to provide a holistic view of every customer in real time.

A CRM system allows employees who regularly face customers (such as those working in sales, marketing, or customer support) to make quick yet deliberated decisions on cross-selling, target marketing strategies, and upselling opportunities.

More than just a software

It is easy to generalize cloud CRM merely as another type of software, but with the dawn of advancements in technology, CRM software has evolved into adapting a customer-centric philosophy. This ideology permeates an entire organization if the system is adapted and imposed.

To implement a successful CRM system initiative, three key elements must be followed:

  1. People – The people involved in the organization, from the CEO to the sales management staff, must buy in and support CRM. This involves allotting time to get acquainted with the system, as well as implementing the regulations and following protocol. A cloud CRM system paves way for a centralized database; enabling your employees to get the information they need at the click of a button, such as sales reports from the past years. Getting them acquainted with the system will definitely ease their jobs.
  2. Processes – Your business processes must also be reengineered to boost the CRM system. It is encouraged to brainstorm and think of ways on how the CRM software in Singapore can better serve your customers. Are they beneficial to your company’s main objectives? Are the processes user-friendly for customers who aren’t updated with what’s new in the tech world? These are some considerations you must keep in mind.
  1. Technology – Business firms in Singapore must also select the technology best-designed to drive these improved processes into actuality. Not only should you provide the best data to employees, but you should also ensure these systems are easy enough to operate so users won’t balk. Having the best CRM software isn’t enough. You must have the appropriate hardware and other tech tools to deliver your CRM system to its best potential as well.

These three elements are considered the foundations of an effective customer relationship management system. If one element is disregarded and not given importance, the entire CRM system of your company might end up in shambles.

More strategies to an effective CRM system

Another strategy to study your target customer’s shopping behaviors and needs is to create a strong relationship with them. Remember that good customer relationships are crucial to business success. You might have the best recruits for sales management, but if you don’t maintain an amicable relationship with your customers, then the skills of your talents can only do so much for the company.

Although there’s a lot of technical aspects to a CRM system, it’s considerably unwise to think of CRM in mainly technological terms. As was previously mentioned in this article, the system has now evolved into adapting a customer-centric philosophy. It’s advised to think of CRM as a process that will help combine pieces of vital information about target customers, sales reports, marketing responsiveness and effectiveness, and current market trends instead.

CRM can be considered as a crucial part to help the company attain business success in the long run. The system is designed to enable businesses gain insights on the value and behavior of customers, primarily through using factors such as people, processes, and technology. Gaining these important insights allow any company in Singapore to increase customer service efficiency, add upsell and cross-sell opportunities, improve sales, close rates, and marketing processes, reduce operation costs, and enhance customer targeting and profiling.

Potential challenges

While a CRM system sounds like the holy grail to any businesses, adapting the system is not without challenges and hurdles along the way.

To ensure CRM is effective, a company must convince its personnel that change is good. CRM might take a while to get used to – especially among employees who aren’t well-versed in the tech field – but it can truly benefit the company in the long run. Accordingly, companies must conduct initial briefings and test-runs so as to allow the staff to familiarize themselves with the system.

Next, business practices must also be thoroughly analyzed to decide if there are parts which needs to be modified. This also allows a company to brainstorm about ways on how to best go about it. Accordingly, it also paves way for deciding on which kind of customer information is useful and relevant. The decision-making process is crucial to know how the information will be used.

A team of competent executives must also select the right technology to be used by the company. This allows easy automation of any necessary information that needs to be automated. This selection process depends on the size of your company and how heavy your stored data is, hence it can range from a few weeks processing time to a year.

Some firms make use of web-based/cloud CRM technology which has less monthly maintenance costs per user, but other large firms opt to spend a heap load of budget to install and customize the CRM technology as they deem fit. Considerably, a CRM system is also an investment for your business.

 

Disclaimer: This list is compiled in no particular order.

Factors to Consider When Opting for a Hosted VoIP System

You might have heard the terms hosted VoIP or hosted PBX from your VoIP service provider in Singapore, but what do these mean and what benefits can your business get from this type of service?

What is a VoIP System and What Does It Do?

VoIP or Voice over Internet Protocol has all the benefits of traditional telephony, but it does more by harnessing the potential of new technology. Its most basic definition is the transmission of voice over a digital network, but a lot of things happen in the process. Using VoIP doesn’t necessarily mean your company will solely be relying on the Internet, but you will be relying on the same protocols that the Internet uses. The protocol in VoIP Singapore refers to the set of rules used to communicate.

The IP or Internet Protocol is the basis of IP networking used in most public, private, corporate, cable, and wireless networks by uniting a company’s various locations into one communications network. Unlike traditional telephony, however, VoIP has more support and features.

One type of VoIP service cannot be used by companies of all sizes in Singapore, that is why some services are designed for the specific needs of a business. For example, some companies are able to host VoIP and PBX within the premises in an arrangement called on-site or on-premises PBX systems; while others prefer to have a hosted PBX system or hire a third-party to provide the hardware and software.

What Does Hosted VoIP Mean?

Hosted VoIP system is just another name for hosted PBX, in which hosted means that the hardware and the PBX are hosted at another location (or off-site location) away from where the service is used, such as in your office premises. The terms could also mean that the business has its own VoIP Singapore system, but hosted PABX is hosted by a VoIP data provider center.

• PBX Phone System

PBX means private branch exchange, or the internal switching of an office’s telephone system made up of different telephone system branches that are linked together. For a medium or large-scale business enterprises that have a lot of phones, it is impractical to get a separate phone line for each one, but a hosted PABX can link all the internal phones. These in turn will be linked to the external world, so that clients, customers, and employees outside the office can make and receive calls from the company. This is why most companies have one or two phone numbers you can connect to.

A PBX phone system has the following roles: create connections by functioning as a switch for different phone users; ensure that the connections are clear by keeping all the resources in proper order; terminate calls correctly if the user has hung up the phone; and to record all the data regarding each call.

• Hosted PBX

Keeping that in mind, hosted PBX or virtual PBX means that all the features of a traditional PBX phone system is included, but the switching is located at another site and only the phones are found in the office premises. A PBX, however, is not similar to a traditional phone, because you can use extensions to make calls within the network.

A hosted PBX in VoIP Singapore has the same benefits as the traditional PBX phone system; specifically, it has the following functions: provide the business with one phone number that individuals will use to contact the company; allow internal calls between different stations in the company; include automated and customizable greetings; use of an automatic call distribution; include different management features; include custom music for callers on hold; record voice messages; and provide automated call answers and menu options for different extensions.

• IP PBX Phone System

An IP PBX telephone system combines the benefits of both the PBX phone system and the power of VoIP technology. IP PBX, therefore, stands for Internet Protocol private branch exchange. It’s an option that companies of any size should seriously consider if they want to have all the benefits of a PBX phone system. For small-scale companies, the extra features can help companies expand their market and make the business look more professional and attractive to clients.

Whether it’s a hosted VoIP system or an on-site VoIP system, an IP PBX telephone system has scalability, better management option, and more enhanced features than other VoIP services for businesses. Some experts consider hosted PABX telephone system as a full PBX system because of the following additional benefits: mobility, voice messaging, conferencing, measurement of important phone data, and supports both IP trunks and IP stations. The last benefit of VoIP Singapore, however, is only possible if your company is using the standard SIP (or session initiation protocol) to signal and control communication sessions.

Like cloud VoIP, which is also another option for small to medium-scale businesses, the IP PBX telephone system will not require the office to buy or upgrade its hardware, because it’s software-based. If you’re looking to improve your services in the future, the IP PBX telephone system is also easier to upgrade than other PBX systems.

What are the Benefits of a Hosted PBX Phone System?

A hosted PBS phone system will allow a company to save more for its information technology solutions, because there is no need to install, upgrade, troubleshoot, and operate the hardware and software needed. Whether it’s cloud VoIP for small businesses or an IP PBX telephone system for larger companies, there is no longer a need to plan and invest on PBX technology that have short replacement cycles as technology advances at a faster rate than ever.

What if you are planning to expand your business in Singapore? No worries there, because both the cloud VoIP and the hosted IP PBX telephone systems are easy to upgrade. You will only be paying for what your company needs at the moment and there will be no problems with blocking as the hosted PBX system grows along with your business.

Choosing a Good Property Management Company

When selling and managing real estate properties, an owner may need to entrust the responsibility to a property management company. However, just like any business, there are ones that provide excellent service and poor service. These companies exist to provide help and spare you the worries of managing your estate. The key to maximizing the benefits of your properties is to use the right Singapore property management provider. Make sure to hire the right one by keeping in mind the following criteria.

1. Ask for recommendations

Your prospect managing agent should be able to provide you with a list of references of their happy clients, as well as previous clients. Require your prospect partner to provide you with two to three recommendations of landlords they have worked and have been working with. You can also ask other real estate owners that you know if they have worked with the condo manager. If the references gave you extraordinary remarks about the service provider, you may want to go on with the process and know their processes better.

2. Notice their style of communication

Interview a couple of property management companies in Singapore and notice how they respond to inquiries. If they get back to you right away, that’s a good sign. If it takes more than a day, a week or a month to address your inquiries, consider moving to your next option. If they come late to your estate maintenance appointments, forget about calling them or showing up the next time around. Take these things as a sign of how they’ll work with you in the future.

3. Check the company’s processes

Ask the managing agent company representative about their tenant approval system, property maintenance process, marketing strategy, and rental collection procedure. If they can’t give you clear answers, the company may have inconsistent services. Bear in mind that the reason you’re hiring a property management agent is to obtain higher quality tenants. If the managing agent has less than ideal standards in qualifying renters, expect to get an equally low services and results.

4. Study the company’s history

A property management company that has been in the business for years knows very well the ins and outs of real estate management. Generally, condo manager companies who have worked with various estate owners and with exceptional reviews from quality clients are an ideal option to manage your assets.

5. Expect to pay a good amount for good services

Of course, professional estate maintenance service comes with a price. Most of the time, the service fees are determined from the rental value of the property, and may vary from a few hundred dollars to as much as one month’s rent. You have to decide whether the price is right and find out whether it’s worth it to you.

Working with a property manager makes everything easier, since all you would have to do is to wait for your tenants’ deposits. Just make sure, though, you understand everything about the agreement and that everything agreed upon is stated in the contract.