SaaS Customer relationship management (CRM) market is anticipated to grow at a significant CAGR during the forecast period. The increasing demand for CRM owing to its advantages including cost efficiency, large scalability, and easy integration among others are anticipated to be the major factors to drive the growth of the SaaS CRM market. The CRM software as a service is utilized to manage and analyze the interactions and relationships between the company and its prospective customers. The primary aim of CRM SaaS is to improve the relationship between business and its customers. The SaaS CRM uses data from various sources and compiles them over different channels between the company and its customer.
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Owing to its cost efficiency, different kinds of businesses are increasingly deploying the SaaS to improve their relationship with their customers, service users, colleagues, and suppliers. The capability of CRM systems to provide detailed information related to the customer’s purchase history, personal information and buying preferences are further supporting the deployment of such service. SaaS CRM facilitates businesses to identify and add new leads effortlessly and swiftly by making use of correct leads. This service offers the business with better precise, accuracy and complete information of the clients by which, sales and marketing teams become more focused centric on their energy and attention towards the right clients. This service enables the marketing teams to prioritize the opportunities which can lead to close the deal.
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Additionally, with the use of this software the marketing managers become able to gain reliable information regarding the progress of team members in reaching their sales target, and moreover they can see how sales campaigns teams and products are performing too. Another major driving factor for the global SaaS CRM market includes the ability of the SaaS CRM assists companies to offer better customer support, which leads to increased customer satisfaction. With the support of this service the company’s customer support teams become able to track conversations and understand customer’s queries and issues across various channels in a better manner.
With the presence of the common platform rates of communication miss or loss are minimized. In addition, this service further assists the supply-chain management teams to manage their relations such as meeting with partners, suppliers, add important notes, and follow schedules and so on in a proper manner. This enables businesses to manage the entire supply chain more efficiently. Microsoft Corp., Salesforce, Inc., Oracle Corp., Amdocs Group, SAP SE, and so on are the major provider of SaaS CRM.
Global SaaS CRM Market Segmentation
By End-users
- Banking, Financial Services, and Insurance (BFSI)
- Retail
- Healthcare
- IT & Telecom
- Others
