Typically, when we think about CRM software, we think about large sales teams and big organisations managing multi-million dollar accounts. Terms and phrases like implementations, buy-in and change management come to mind as managers pour over the data to predict future revenues and move the share price up a bit.
Big businesses and multinational corporations have more resources to develop in-depth sales tracking tools that optimise their pipeline and drive new revenue growth. Sales reporting software provides a bird’s eye view of a company’s entire sales cycle, but taking advantage of critical data and customer buying patterns can be drastically more difficult for SMEs than their larger counterparts. However, technology is now offering new options for small businesses looking to capture key data and improve their decision making and set the stage for longterm growth.
The vast majority of the business world is comprised of SMEs that are driven by small sales teams tasked with bringing in new business. Larger corporations have traditionally held the upper-hand as they can compete with armies of sales reps and throw around their million dollar marketing budgets. However, the internet has drastically democratised the business landscape allowing small and medium enterprises to compete head-to-head with corporations 1000x their size. In fact, the Software-as-a-Service (SaaS) explosion over the last decade is a perfect example of this worldwide phenomenon.