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ROI’s ARE 1.5x HIGHER THAN 3 YEARS AGO
According to Nucleus Research, a firm that specializes in case-based technology research, the ROI for a CRM implementation — in the form of increased revenues and improved operational efficiency — is substantial. Furthermore, it continues to grow due to efficiencies in software design and fierce pricing competition.
As we’ve outlined in previous articles, customer relationship management software is crucial to any Title Company in the business of selling. CRM applications provide one platform to track every interaction with existing and target customers, helping your marketing and escrow departments improve client relationships as well as prospect more efficiently. CRM platforms have been implemented by companies across many sectors since the mid-90’s however they continue to become broad based generic elephants, encompassing more bells and whistles and less focused on industry specific needs.
There are a few reasons why CRM investments continue to yield increasing returns.
The Cloud
Cloud-based technology is the fore of software innovation, enabling companies to store data and access it across platforms from multiple devices. Switching to the cloud increases the return on investment. According to Nucleus research, cloud technology for CRM delivers 1.7 times greater return on investment than a desktop or server-based software implementation.
What is the cloud? It’s technically a network of remote servers linked to the Internet utilized to store, manage and process data. If you use Gmail, Spotify, or any streaming service, you’ve used the cloud.
Take the Burden away from Traditional IT
Historically, CRM software was administered through a company’s in-house IT department, often supported by expensive technology consultants. Knowledge of how to use and get the most out of the software was several steps removed from the employees who actually interacted with clients and prospects.
With TitleInsight, the cloud based technology was framed and driven by Title Industry Executives — relieving the burden on internal resources, ensuring a smooth and successful implementation process. Finally a CRM software that can be used by employees from all departments, empowering them to collaborate seamlessly and make key business decisions with detailed information. The emergence of this user-friendly platform has allowed the Title Industry to adopt a systematic process for tracking and managing existing and prospective customer relations.