Conquering the Post-Merger CRM Challenge: Simplify with a Modern Strategy
Updated: Jan 26, 2020
Mergers and acquisitions among today's growing organizations are burgeoning with no end in sight. Deloitte reported that "corporate and private equity executives focused on mergers and acquisitions anticipate a further acceleration of deal flow in 2019—both in the number of transactions and in their size—which would further extend several years of record M&A activity."
A significant upshot of these mega-mergers has corporations rethinking how to handle multiple technology platforms. Optimally, a one size fits all approach should align the business technology hub via its enterprise resource planning platform, customer relationship management system (CRM), and other financial systems. Some companies may have over a dozen operating systems, and the cost to migrate them to a single platform is substantial.
What happens in the interim?
A classic post-merger or acquisition problem is having customer data reside across multiple CRM systems. With this data left fractured, it is no wonder that businesses are not able to best serve their customers. The importance of retaining customers by knowing purchasing habits, improving customer service, and customized marketing is paramount. The CRM system holds your core business data that provides insights into customer behavior and helps you monitor and grow your business. Sales and profits are at risk without the speed and agility to track and service your customers.
Short Term Fixes
Migrating CRM systems to a single platform is a very costly undertaking. Salespeople still need to fill orders, and analysts need to generated forecasts. Employees may resort to stop-gap solutions such using non-system data, ad hoc formulas, and unsupervised excel files. Manual data entry makes spreadsheets notorious time wasters and a magnet for errors. Suffice to say, highly advanced analytics tools and accurate data is the only way to keep the sales teams ahead of the competition.
Fear of Data Accuracy
Siloed data is not an isolated problem. Finance requires accurate sales forecasts for budget planning. Marketing requires precise customer information. Production and inventory control depends on a clear picture of customer demand. In other words, the need for accurate data is essential to all groups and departments. Without a comprehensive view of the customer, the rest of the business suffers. There are many business processes and activities that depend on this data, so companies need to get this right.
What a mega-merger solution will do: Process Tempo does
Banish the ills of disparate systems with our solution and bring multiple sources of information into a single view. Process Tempo is a modern, augmented analysis platform that focuses on the uniquely complex, multi-dimensional relationships that exist within business data. The roadblocks of multiple systems will no longer threaten your business. Have only one platform, disbar the spreadsheets and use a single source of trusted data. Our graph database is a flexible data model designed to support interconnected data. Process Tempo also features built-in self-service advanced analytics and reporting tools. When going through a series of acquisitions or a mega-merger, integrating your data can simple with a modern proactive strategy.
Imagine the possibilities.
Save time with on-demand reporting. Analysts will no longer have to spend hours collecting and cleaning data to produce a single one-off report
Make smarter, faster decisions. Access to the dashboard and operational reports helps executives leverage timely and contextual information to improve decision making
Focus on collaboration. Create synchronized sales activities from a single source of truth. Sales teams can gather reports and work collaboratively on client initiatives
Know your customers' behaviors. Improve marketing spend with data-driven solutions. Use a consolidated view of customer segments and target where marketing dollars are spent on each campaign to increase sales
Generate growth. With historical data, create more accurate forecasts. Analytics can quickly help to monitor trends and patterns to predict future growth
Increase productivity. Implement and advocate for economies of scale. You are reducing repetitive tasks for the legal department, such as renegotiating contracts for volume discounts. Watch your comprehension of competitive practices to enhance your ranking
Break from a siloed existence to a single platform from Process Tempo.