Rich Functionality, Expanded Marketplaces, Boosting Adoption of CRM Suites
LOS ANGELES, NOVEMBER 23, 2020 The CRM market is changing. Today most CRM suite vendors are offering modular sales, customer service, and marketing functions, enabling organizations to pick solutions that are best tailored to meet their needs. They are also expanding their offerings with plug-and-play apps, which enables enterprises to customize and extend the functionality of CRM suites. Finally, an array of ready-to-use connectors is enabling easy integration. These factors have boosted adoption of CRM suites, which saw a 13% growth rate in 2020. These and other trends are explored in our new Customer Relationship Management Suites 2020 RadarView™ report, a comprehensive study of enterprise CRM suite adoption trends and the vendor landscape. The report helps companies identify the right solutions to improve their customer relationships. It also offers detailed capability and experience analyses of CRM vendors to assist enterprises in identifying strategic partners for their customer relations transformation journeys. The report ranks the leaders, innovators, disruptors, and challengers in this space. Avasant evaluated 20 vendors offering CRM suites, using a rigorous methodology against the dimensions of product maturity, enterprise adaptability, and innovation roadmap. Of those 20 vendors, we recognize 11 that have brought the most value to the market during the past 12 months. The report recognizes CRM suite vendors in four categories:
- Leaders: Microsoft, Oracle, Salesforce, SAP
- Innovators: Hubspot, Infor, Zoho
- Disruptors: Pegasystems, SugarCRM
- Challengers: Avolin, Creatio
- Demand for CRM suites has increased due to the need for low-touch operations that COVID-19 has created.
- Availability of CRM suites as a standalone product and ready-to-use connectors is facilitating enterprise adoption.
- Small and midsized businesses are now at the forefront of CRM suite adoption, as the SaaS model enables low-cost implementation.
- CRM suite vendors are leveraging AI technologies to automate judgment-intensive processes.
- CRM suites are enabling robust process automation solutions via acquisitions, partnerships, and in-house development.
- CRM suites are leveraging virtual assistants to enhance clients’ experience.