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Crm Software Essay

5650 words - 23 pages

Recently, Microsoft released the latest version of their customer relations management solution "CRM R7 2011" in India which has integrated social networking capacities.
"CRM R7 2011 integrates social capabilities into Microsoft Dynamics CRM and further strengthens service and marketing processes for businesses," said Microsoft Dynamics India Group Director, Subhomoy Sengupta.
Sengupta further added, "Its integration with Office 365 makes the value proposition for customers even more compelling," as reported by Times of India.
Basically, Microsoft's CRM solutions help various companies manage interactions with clients, customers and sales prospects.
Employees using CRM software will be ...view middle of the document...

Partner relationship management (PRM) is a system of methodologies, strategies, software, and web-based capabilities that help a vendor to manage partner relationships. The general purpose of PRM is to enable vendors to better manage their partners through the introduction of reliable systems, processes and procedures for interacting with them.[1] Web-based PRM systems typically include a Content Management System, a partner and customer contact database, and the notion of a partner portal which allows partners to login and interact with a vendor's sales opportunity database and obtain product, pricing, and training information.
Benefits
• Expand revenue and new market opportunities by building a dynamic partner channel
• Provide real-time visibility into day-to-day marketing and sales activities for better tracking and shorter sales cycles
• Greatly improve your partner relationships by empowering partners to thrive in your channel
• Control the flow of information and communications through every phase of the partner sales and marketing process
• Unite your partner activities with your in-company CRM and order management in a single application.
Key Features
• Lead Management
o Track partner leads and referrals within a single application, enabling you to win—and retain—more customers
o Enable your partners to register and track their leads via one, easy-to-use partner management tool application
o Analyze conversion rates and ROI by lead source, and view how many leads were generated by each lead source.
• Forecasting
o Provide accurate, up-to-the-minute partner sales forecasts that include projected amount of sale, probability of close, and weighted amount of each transaction
o Assess how each team across your diverse reseller channel is performing through aggregate reports across territories and teams
o Provide deep visibility into the channel pipeline to let managers assess the amount of potential revenue that exists at each phase of the sales cycle.
• Campaigns and Promotional Discounts
o Track and analyze all your key marketing data, including leads, closed sales and ROI from joint marketing efforts, within a single application
o Measure the effectiveness of your joint marketing efforts, isolating both successful and problematic campaigns
o Set up promotions and discounts according to the needs of your joint businesses.
• Sales Tracking and Order Management
o Give partners the ability to place and track orders themselves, diminishing the need for your own sales and support teams to monitor the process
o Gain full visibility into all of your partners' leads, orders and sales activities; use that data to create customized reports according to the criteria you set
o Provide resellers access to up-to-the-minute volume and negotiated pricing, eliminating the concern that your resellers are promising prices or promotions that are outdated.
• Commissions Management
o Calculate partner commissions based on...

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