Topic > An Analysis of Customer Relationship Management (CRM)

However, they are usually difficult to update, customize and integrate with customer operational activities. On-premise CRMs are more flexible and data is generally more protected. However they are more expensive upfront and the return on investment is lower. Additionally, companies must rely on third-party vendors who have access to private company information. The group's map represented this idea with the relationship between the end user/customers and cloud computing boxes as cloud computing helps businesses maintain on-premise CRMs that can be accessed and updated online. The arrows represent a reciprocal relationship because information flows in both directions. The group also shared some of the keys to a successful implementation presented by the group: Designing a short-term goal strategy that defines specific data to collect from customers. Additionally, we learned that the financial services and telecommunications industries have successfully implemented CRMs, while the manufacturing industry typically struggles with CRMs.