Extending CRM: Utilizing xRM to expand your relationships
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Customer relationship management (CRM) solutions are evolving, with new strategies to further integrate your critical business processes. One particular approach organizations are implementing is xRM, leveraging the functionality of an existing CRM platform across other areas of the business. xRM extends system capabilities beyond customer relationships, enabling further integration and allowing your entire organization to share information, rather than creating siloed systems.
The “x” in xRM is an algebraic variable, representing any business relationship, such as a “V” for vendors, a “P” for patients or a “D” for donors. xRM transforms your existing CRM platform by configuring the system, rather than developing the functionality through time-consuming custom code. Data for your activities lives in one place and can seamlessly relate to other pieces of important information.
The ultimate capabilities of an xRM strategy depend on the functionality of your existing CRM platform. An xRM solution based on an established CRM platform, such as Microsoft Dynamics CRM®, extends its features, functionality and customization capabilities to other areas of your business. These features include:
- Rapid development and implementation
- Multiple on-premise and hosted deployment options
The main benefit of xRM is the additional functionality brought to new areas of your organization. The approach integrates within your existing platform and increases your data management capabilities with more efficient development. It can measure anything that is important to your business, and increases the value of your CRM investments.