How can Integration of Inventory Management and CRM Systems Impact Your Business?
Are you still managing customer information and inventory data on different systems? At Prisma we recommend customers to integrate both worlds into a single system! Integrating your systems enables your team to monitor inventory information in real-time and optimize customer service and experience. More importantly, streamlining your business can become a significant driver for sales and net income!
Inventory management systems manage purchase, shipping, accounting and supply chain data whileCRM systems focus on customer data and interactions such as customer requests, enquiries and complaints.
A 360-degree customer view allows companies to attain a complete view of customers by aggregating data from different touch points that customers use when purchasing products or requesting support. Each touchpoint along the customer journey creates a standalone silo of data. When customer data is stored in disconnected systems companies will find it harder to provide great customer service. As data is gathered via different technologies such as website, mobile devices, customer support and social media it has become a challenging task to aggregate all data into a single tool that provides a cohesive real-time view of customers. Timely and precise communication is at the heart of building great customer relationships. Therefore, using data to anticipate customer needs and develop strategic communication assures customer satisfaction.
We increasingly see companies applying predictive analytics to stay ahead of the curve and optimize customer relationships. Logging all customer data in one single place allows companies to use their data to drive forecasts and predictive analytics with higher accuracy. A complete view on a customer’s situations such as purchases, transactions, service calls and preferences shows where they are heading and what they may need in the future. This way companies can anticipate, prepare and potentially adapt their strategy to optimize sales and customer service. Our customer surveys show that more than half of all customers expect businesses to anticipate their needs and provide meaningful product suggestions. Further they admit that businesses who understand their individual needs can influence their loyalty.
Cross-selling and strategic campaigns
Customer support teams can use an integrated solution to immediately access customer information, inventory and shipping status, payments and pricing. Each employee can act independently as data can be retrieved from a streamlined system. Having access to the same customer view, through a streamlined system means that departments can pass on information efficiently. Cross-sell opportunities can be identified easily through tracking of all touch points along the customer journey enabling sales and marketing teams to develop data-driven campaigns such as specification of target groups, advertising and communication with leads. Cross-sell methods encourage customers to purchase additional and related products during their customer lifecycle.