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Firms 'set to invest in CRM'

Rachel Wheeler Archive
Many businesses are set to invest in Customer Relationship Management (CRM) now in order to be in the best possible position when the economic picks up, the latest research has suggested.

According to a study by Gartner, 40 per cent of firms are taking this approach.

The research stated that the implementation of CRM solutions comes despite IT budgets on the whole being reduced.

Scott Nelson, managing director for Gartner, said that rather than concentrating on cutting outlay, firms need to think about "smarter" ways to invest their capital.

The report outlines five ways in which inexpensive CRM strategies can result in positive results.

These includes analytics, which the study stated as being particularly useful during a downturn, segmentation and process redesign.

Organizational redesign and customer communities were also recommended in the report.

Elsewhere, Marshall Lager, senior editor of CRM magazine, recently claimed that CRM information stored on mobile devices could represent a security risk.