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CHICAGO, June 19, 2014 /PRNewswire/ -- Customer relationship management (CRM) solutions are evolving, with new strategies to further integrate critical business processes. McGladrey's Extending CRM: Utilizing xRM to expand your relationships explains how one particular approach organizations are implementing is xRM, leveraging the functionality of an existing CRM platform across other areas of the business. xRM extends system capabilities beyond customer relationships, enabling further integration and allowing the entire organization to share information, rather than creating siloed systems.
The "x" in xRM is an algebraic variable, representing any business relationship, such as a "V" for vendors, a "P" for patients or a "D" for donors. xRM transforms an existing CRM platform by configuring the system, rather than developing the functionality through time-consuming custom code. Data for all activities lives in one place, and can seamlessly relate to other pieces of important information.
The ultimate capabilities of an xRM strategy depend on the functionality of the existing CRM platform. An xRM solution based on an established CRM platform, such as Microsoft Dynamics CRM, extends its features, functionality and customization capabilities to other areas of the business. These features include:
The main benefit of xRM is the additional functionality brought to new areas of an organization. The approach integrates within the existing platform, and increases data management capabilities with more efficient development. It can measure anything that is important to the business, and increases the value of CRM investments. To continue to learn more on xRM by reading McGladrey's Extending CRM: Utilizing xRM to expand your relationships.
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