The latest annual Global SaaS Customer Relationship Management Annual report published by IDC includes the latest available information about SaaS and Cloud computing. The report is the most comprehensive and in-depth analysis of the two.
The report gives the readers a clear picture of SaaS CRM and its potential to dramatically impact companies in various sectors, including finance, supply chain, enterprise solutions, manufacturing, telecommunications, mobile devices, internet marketing, e-commerce, and social media.
Software and Applications
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There are several topics which are discussed in detail in this year’s report. They are as follows:
SaaS Customer Relationship Management: In this report offers insights into the increasing popularity of hosted software. Hosted software, in simple terms, offer hosted solutions for Customer relationship management. With SaaS, organizations can enjoy a reliable and robust system that can customize according to organization requirements and business rules. Hosted solutions offer end-to-end customer relationship management solutions with a global reach. This report caters to the market segments: Retail, BPO, E-Commerce, Consumer Business, FMCG, and Medical.
According to market size and SaaS provider, the CRM SaaS market is overgrowing. It is anticipated to touch $12 billion by the end of 2021, a massive deal in the IT industry. The report offers insight into the growing popularity of SaaS-based CRM and its increasing demand across various industries such as banking, travel, hospitality, and utility services.
Cloud-Based CRM SaaS: This is one of the fastest-growing segments in the SaaS market, accounting for approximately 20% of the total SaaS revenue in 2021. Cloud-based CRM SaaS includes applications that run on the cloud, offering greater flexibility and ease of deployment, as well as a lower cost of ownership.
This report looks into the factors influencing this sector’s growth and offers recommendations on its direction. Cloud-based SaaS CRM factors include cloud economy, business process modeling, customer’s perspective, IT investments, the industry trend, and the provider’s strategy.
Customer Relationship Management (CMR) SaaS: According to this report, the customer relationship SaaS CRM is witnessing rapid consumer packaged goods like mobile phones, music players, printers, camcorders, etc. Among other applications, this segment is witnessing high adoption rates in the retail sector. The report offers insightful insights on the reasons behind this trend and the prospects for the industry shortly. The factors influencing the growth of SaaS-based CRM include:
- The competitive landscape.
- IT investments.
- The business process modeling.
- The customer’s perspective.
- The industry trend.
- The provider’s strategy.
SaaS Customer relationship management SaaS-based CRM is poised to deliver significant market growth due to the superior benefits compared to traditional models. For instance, using SaaS to manage customer relationship information helps organizations identify their needs and then work towards meeting them.
Moreover, it facilitates improved data security as organizations can make it a habit to share customer relationship information with only those they need to. Further, organizations can measure the success of their strategies and measure the impact on productivity, profit margins, and customer satisfaction.
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