The manufacturing industry in India, and around the world, is on the verge of transforming. Various remarkable changes are coming about in the system:
- Some of the top manufacturers are spending time and money to ensure that they are easy to work with. This is directly related to the quality of their supply chain, distribution network, and service.
- Solutions are being brainstormed, and there is constant pressure to increase accuracy.
- Processing speed is an important aspect of success in the industry too.
- Companies seek to capitalize on their internal knowledge & intelligence. Every interaction that the company has with its customers, vendors, and resellers is relevant.
Adoption of technology has, hence, become inevitable. According to a research conducted by Capterra, adoption of CRM has still not been picked up extensively by the manufacturing industry. However, that also means that there is substantial scope for its adoption in the times to come.
CRM Adoption by Industry
With the change in attitude of manufacturing firms, CRM is poised to be the next big thing in the industry.
Challenges with technology adoption:
Before the manufacturing industry adopts CRM and the new technology in its entirety, some impending problems have to be solved. Here is a list of some of the challenges that manufacturing companies face when it comes to CRM and related technology:
It is imperative that technology companies can help manufacturing firms understand the value of the proposed solution. Given their non-technical background, executives with manufacturing firms find it difficult to understand the nuances of technology.
Upfront investment in technology can be impeded by the lack of understanding of the same. Therefore, SaaS-based solutions are on a rise.
According to a research conducted by MintJutras, 22% of all manufacturing & distribution software installed today is Saas-based. This is estimated to go up to 45% in the next decade.
Finally, manufacturing firms desire continuous global support for their operations.
Why cloud-based CRM?
As CRM becomes commonplace in the manufacturing and distribution industry, Cloud-based solution seems to have been the new trend in the industry. Such cloud based solutions offer unlimited benefits to its users. Firstly, there is no need to make any hardware investment in the form of on-site servers and other technology. Cloud-based CRM solutions ensure that the data is stored in the cloud. Additionally, such solutions also allow company executives to access pertinent data from anywhere. This has given them the freedom to move away from their conventional desks and connect better with the marketplace. What is also being realized with time is that cloud-based CRM solutions are happening to be easier to customize, which lends them the potential of increased adoption.
Following are some more reasons why cloud-based CRM is revolutionizing the manufacturing industry:
These CRM solutions can help companies capture and analyze data with ease. This intelligence is the only source of differentiation in modern times. Companies get to better understand customer purchase behavior. Additionally, snags in the supply chain can be quickly identified and worked upon.
With the help of deep customer intelligence and detailed reporting technology, cloud-based CRM helps companies accelerate their new product development. Hitting the market before your competition allows you to achieve the First-Mover advantage.
Cloud-based CRM allows you to manage stock at multiple locations, and manage indirect as well as direct channel sales – all from a single location.
Streamlined Purchase Process:
Manufacturing firms can quickly create and store purchase orders, record material inward, manage purchase return transactions, and more with a Cloud-Based CRM solution.
Companies can quickly define severity and priority of support requests, assign and manage such requests, support email-based ticket creation, and more. In short, it is the perfect recipe to improved customer service.
These and many other relevant reasons make Cloud-based CRM the need of the hour. These are best-in-breed solutions to all problems that manufacturing companies are facing in the modern times.