logo
logo
Sign in

How Blockchain Can Transform CRM

avatar
celine anderson
How Blockchain Can Transform CRM

What is CRM?

CRM - It stands for Customer Relationship Management, is used for business purposes only.  Wherever a business deals with its customers, CRM will become the most useful system for such business. 

What CRM Actually Does?

In CRM, a business can store the customer details as KYC, Status of Sales Pipelines, Prospect details, Sales opportunities, Reports, Email Automations, Lead Management, and lot more details!

For any business, there will be a customer base, either it may be big or low in volume. When there is a change in the sales funnel, it should be properly updated and should be transparent to everyone inside the organization. A CRM System can fulfill all the above. 

Inside the CRM panel, a business could do the following basic things

1. Can Properly manage their customer details with valid details

2. Can identify who are valid and invalid customer details

3. Can track the customer interest and can identify in which point they are lagging to purchase a product from your company.

Business Challenges In CRM 

CRM is useful for both B2C and B2B business companies, As per the report of buyerzone,  There were around 56% of Business to Business Companies have Used CRM in 2012. 

Apart from collecting and tracking the customer details, Businesses face some other changes while implementing CRM. 

How Blockchain Can Transform CRM

Increase Security

As Blockchains are decentralized and are internally connected peer to peer system of blocks it becomes a tough task tampering the entire blockchain. Keeping CRM Records in blockchain rather than cloud can give 100% security of processed records.

Improved Transparency

Generally, a CRM system that keeps inside a cloud or on-premises is centralized, so only authorized people can access it. But bringing the entire data into the blockchain can improve the transparency of records to authorized people.

Privacy Control Advancement

Customer details, purchase and payment details are the main source of a company, keeping these data inside a tightly secured private blockchain can restrict third party people from accessing it. 

Data Cleansing 

There may be a chance of duplicate or inaccurate information of transactions and customer details to occur if we neglect to keep the CRM solutions to be updated. But blockchain eliminates the inefficiencies. 

Improved tracking of records

Blockchain integration with CRM can improve the tracking of how data has originated, transferred to other networks, how the transaction has been closed, etc.

Apart from the above benefits, blockchain will help an organization to revive from the above-discussed business challenges, and implementation challenges  Of CRM too. 

Read More about Blockchain technology in CRM.

We bitdeal a Blockchain Development Company, have undergone deep research about the use case of Blockchain in different industry verticals such as banking, Insurance, Telecom, Healthcare, and Supply Chain. Get a Free Demo.

Our Other Blockchain Solutions

Smart contract Development

Token Development

Dapp Development

P2P Exchange Application Development

Cryptocurrency Wallet Development

Decentralized Exchange Development

STO Development

ICO Development

Crypto Coin Development

 

 

collect
0
avatar
celine anderson
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more