Cloud-based CRM Services Will Continue to Gain Traction, Focus on Master Customer Data Governance – 3 Tips
Customers want personalized service and value, but all too often, efforts to give them this are hampered by inaccurate data. The problem is the data, if left unchecked, will rapidly erode at a rate of 20 percent annually, according to Gartner. That becomes an issue, since you won’t be able to focus on the right customers!
First step you need to focus on what is your customer data and then establish agreement on customer data ownership, always base your governance on target areas:
Below is an example if you’re a B2B , I would focus on the following master data:
*Customer ID/name & parent company (if any)
*(Contacts (sales, billing, shipping)
*Addresses (Bill to, Ship To, mailing)
1) In my view your CRM should be attached to your ERP and ecommerce systems if you expect to get more integrated and efficient business processes, at a bare minimum understand where your master and slave data reside.
2) Always expect with a cloud base CRM, a change to your lead-to-cash process cycle – Start early and maintain as much as possible the vendor out of the box functionality.
3) Once you have established starting point, conduct a data inventory to understand where the data is currently created, modified, and stored. This will give everyone involved a common insight into the scale of the problem. You can do this at a high level by identifying data subject areas as the diagram above or by developing a simple footprint matrix showing systems against subject areas.
Don’t hesitate to share your thoughts and tips,