Is a Tailored CRM Better?

Advantages and Disadvantages of a Tailored CRM Solution for Oil & Gas

Implementing a customer relationship management (CRM) solution is a great way of making the most of your business assets and resources. However, with any new implementation project, you want to know the risks and the potential disadvantages you could be facing. On the flip side, you also need to know the benefits and advantages you could bring into your energy organization. We’ve listed out both the advantages and disadvantages of a tailored CRM solution for the Oil & Gas industry to help further educate you on whether or not the solution is right for your business.

Potential Drawbacks of a Tailored CRM System

The Cost:
One of the greatest challenges and one of the most important factors will be the cost of a new CRM. There are many software options available to you and many pricing plans that go along with them. To find a solution that is within budget and can also do what you need it to in order to meet the needs of the energy industry, is a tricky process to navigate. You need to consider the total cost of ownership; meaning you need to examine software subscription or fees, add-on features, customizations, IT needed, staff training, and hardware requirements. Appropriate planning and proper assessments of any hidden costs will help you set a realistic budget for your new CRM system.

Impact on Business Culture:
Because implementing a new CRM system is such an important project, and many processes may be impacted by it, you need to consider how it will affect your employees. It all starts with communication. If there are plenty of transparent conversations about the possibilities of a new CRM system, then there will likely be less resistance to change. But if proper communication does not occur, you may experience a lack of commitment and customer relationships may break down, resulting in a loss of revenue.

Lack of Leadership Involvement:
In order for a tailored CRM system to be implemented successfully, your leadership team MUST be involved from beginning to end, and even after. Shaky leadership will no doubt cause problems for any implementation project. Management needs to lead by example and promote customer focus on projects. If a proposed plan doesn’t align with your customer values, find an alternative plan.

Benefits of a Tailored CRM System

Better Collaboration:
With a tailored CRM, communication will be improved across departments and teams, because typically it’s teams that are managing a customer, not just one single person. The teams will have one place to combine and collect customer data, giving them the ability to track and share customer information with ease. Every interaction with a customer can be tracked and some systems can even integrate with your email. Distinguishing who is working with whom and what type of relationships have been built, can go a long way when managing an account.

More Extensibility:
The energy industry is ever-changing, meaning your processes are always adapting and expanding. Some tailored systems can manage more than just sales, marketing and customer service. The systems can extend to be able to give you the ability to track services, projects and resources.

Flawless Reporting:
With a tailored CRM, you’ll have tailored charts and dashboards that give you a full view and understanding of your organization. Find metrics, set goals, easily analyze data, and so much more. You’ll be able to utilize the platform to encompass all your processes and customer journeys. Some systems, such as Microsoft Dynamics 365 for Sales, even allow you to export data into Excel and embeds Excel online for easy additions, updates and notes.

Is a Tailored CRM Right for Your Energy Company?

There are many decisions and conversations that go into a new CRM implementation project, and we’ve only listed a few points. But, I hope these advantages and disadvantages help you make a more informed decision.

At MCA Connect, we’ve developed a CRM for energy organizations to optimize operations for companies involved with oilfield exploration, oilfield services and midstream operations. The solutions we’ve tailored through Dynamics 365 for Sales provide greater visibility into business processes to reduce downtime, increase efficiency and improve compliance and safety. If you’d like to learn more details about our tailored CRM solution for energy, contact us today to speak with one of our team members.

Author: Janet Thomas, Director – D365 Customer Engagement

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