CRM Capabilities

A CRM capability is an abstraction of the underlying functionality and process and captures what CRM does and can do.  A capability is a business architecture term, and a CRM capabilities model is an integral part of the business architecture deliverables.

A CRM capability is a foundational building block, and it establishes a common language between business and IT. Instead of focusing on systems or processes, which are volatile and transient, leveraging CRM business capabilities will help in understanding the current state and envisioning the future state and crafting a capability-centric CRM transformation roadmap.

1. Contact Management

Stores contact information such as names, addresses, and social media accounts in a searchable database.

2. Interaction Tracking

Add notes and track interaction history to document conversations with specific contacts.

3. Lead Management

Manage the process of converting prospects into potential customers (leads) by identifying, scoring, and moving leads through the sales pipeline.

4. Email integration

Integrate with email such as Gmail, Outlook, Yahoo, etc., allowing for management and segmentation of contact lists, as well as a centralized hub for internal cross-collaboration.

5. Document management

Collect, upload, store, and share documents in a centralized location, making it easier for everyone involved to access information.

6. Quotes/proposal management

Create and send quotes or proposals to customers.

7. Pipeline management

See an overview of your entire sales pipeline as well as the status/progress of each individual stage in the sales funnel.

8. Workflow automation

Automate repetitive tasks by creating workflows that trigger actions or send follow-up reminders for next actions.

9. Reporting/analytics

Get routine summary reports of sales figures or sales rep performance (e.g., on a daily, weekly, monthly, etc., basis).

10. Forecasting

Generate predictions for future sales figures or projected revenue based on past and present data/trends.

CRM software offers three major benefits for your business:

• Easy access to customer data. Customer relationship management systems include searchable databases that allow users to access client and prospect information during meetings. Some solutions let users sync information across multiple devices, providing the most up-to-date customer information from any access point.
• Streamlined processes through automation. CRM software lets users standardize workflows and processes associated with sales, marketing, and customer support to improve coordination between these teams.
• Actionable insights into business performance and customer behavior. Some CRM software vendors offer analytics functionality, where users can create customizable dashboards and reports based on customer data. These reports help in segmenting customers, tracking revenue, and managing personalized campaigns.

Needs a CRM Capabilities Model:

• Hyper-competition, rising customer expectations, and digital technologies are putting more demands on the CRM function. So, to succeed in this era of mega shifts, a CRM business capabilities map will help in getting your arms around what CRM does and have a structural basis to deal with change.
• A CRM capabilities model can help in translating the CRM strategy into action at the process, people, and technology level.
• CRM is the epicenter of the customer-centric revolution. Having a detailed understanding of all capabilities and an assessment and prioritization can help in securing funding for the projects.
• We are in the era of a real-time enterprise. Knowing what CRM capabilities and Value Streams need to be real time or near real time will allow adequate technology enablement and process improvements.
• If the business and technology teams do not speak a common language, a CRM business capability map can be the common lingua franca bridging the communication gap.
• CRM transformation projects without a capability model as a foundation tend to veer toward a bunch of projects with a disparate set of requirements. A capability-based transformation roadmap helps provide the guard rails and guideposts for the implementation.
• A CRM capability model helps in conducting a capability-based vendor evaluation for the CRM functions.