The customer relationship management is an essential element of your company’s growth, even its success, but what about the relationships you may have outside your clients or prospects?
The CRM has evolved, and today we can even speak about xRM solution (Extended Relationship Management) to define the multiple relationships that an organization can manage.
The xRM, a solution that would replace CRM ?
The xRM is a much broader term, more “extended”, and goes beyond the customer dimension by establishing links between all the actors with whom you will be in relation: it can be providers, partners, collaborators, distributors, shareholders, or organization’s own data (products, items, workshop rooms…)
By forming a relationships network, all your data will be linked together for more available information, better communication and collaboration between all stakeholders.
xRM system users benefit from a centralized view of their relationships. Just like a traditional CRM system, all data are stored on the same platform, saving time and money.
Why use an xRM ?
xRM does not replace CRM. In fact, it’s an advanced version of CRM. Let’s take the example of an event project. Organizing an event involves many actors: sales people, planners, suppliers, partners… who intervene before, during and even after the event.
By using a simple CRM, you run the risk of putting aside all these actors, who are very important in your projects, to focus only on your customers. Without them, you will reduce the value of the relationships that are essential to your company’s success.
With an xRM system, it is easier to establish relationships with everyone who may be involved in your projects and to understand how they are related to each other.
By managing complex resources, an xRM will significantly improve your business processes and improve interactions with your customers or future customers for a better satisfaction!
To summarize shortly, an xRM is :
- All your data are combined on a single tool for a better data integration and no need to use different solutions
- Helps to reduce time and expenses, thus reducing the risk of failure of your projects
- Helps to manage relationships with customers and also with providers, partners, organizers or any other actor you interact with.
What are the differences between ERP and xRM?
An ERP (Enterprise Resource Planning) system improves the data stream and streamlines your company’s operations. It is generally more complete than an xRM which is, as seen above, an extension of CRM.
Although xRM solutions are particularly complete, they are not the most optimal to manage all the accounting aspect, human resources or the production part for industry or logistics.
You have probably heard about SAP, the number one ERP system. This system is implemented by many companies to meet higher expectations than an xRM by reducing your costs and thus offering a significantly improved customer experience.
Lab Event: an xRM or a CRM?
Lab Event is a SaaS that allows you to manage all your customers, your opportunities (we talk about events at Lab Event), activities with customers, the product catalog … So, xRM or CRM?
Both!
Lab Event is perfectly adapted to manage all types of relationships, not only those of your customers but also those concerning your providers, your contacts providers or even your activities with them and to link them to customer opportunities.
We could even say that Lab Event is an ERP, probably not at the same level as SAP, but perfectly adapted to event management.
With Lab Event, you manage all your events on a single platform and save 80% on the entire value chain (briefing, external providers search, creation of proposals, quotes and invoices edition…). Our tools allow you to spend less time on administrative and financial management to focus more on your customer and supplier relationships!
