CRM keyword is quite old, and its definition has sprouted all over the world in different mediums. Initially, organizations started to look for CRM solutions to store customer information and then manipulate it to bring relevant information in the shape of customer profiling, and to some extent, customer modeling.
At the time CRM was evolving, it was seen as the most immediate solution in areas where customers interact with organizations like sales and service. Over time, CRM developed and brought so many tools and services under its belt. These tools do not only cover areas around sales and services but they do with marketing as well — helping organizations reduce tiring efforts for managing multiple applications and tools.
Later, XRM became added into the CRM world, which in turn gave another life to CRM. Eventually, organizations started to look at CRM not only to store customer information, but also to assess the different customer types, and how they conduct their usual business activity.
The next phase of CRM evolution was to build it as a platform so organizations can build more C/X oriented applications over it. Soon after, CRM Solutions started to look at the heart of applications providing information to different channels like self-service portals and mobile apps, etc. In short, it becomes the enabler for omnichannel capabilities.
CRM Solution providers kept adding so much to the CRM world due to its flexible adopting nature. This evolving nature of CRM makes it prominent from the similar genre of applications like ERP, SCM, HRM, etc. Recently in one conference, Microsoft showed the power of Dynamics CRM integrated with Azure Machine Learning and IoT based sensor to build the industry based Self Asset Management System. This advancement has brought CRM into the 10x millions worth of projects lined up.
Today, CRM has become more powerful than its initial version. If we see recent acquisitions or bids in the IT World, we can easily say that CRM has become more important than any other applications. To organizations still confused about where to invest their IT budget, this is the right time to evaluate CRM especially Microsoft Dynamics 365 Customer Engagement (CRM).
This article was initially written on http://dynamicscrmcoe.com/crm-has-become-important-applications/ but was reproduced by the author again for A Dot Dynamics.