Forrester Names Microsoft as a CRM Leader
Microsoft has been named a leader in the recent The Forrester Wave for Core CRM Solutions (Q3), noting how the Dynamics 365 solution stands out from the crowd.
According to CX Today, 84% of software decision-makers in enterprises and 77% in SMBs noted that they already use or plan to use a CRM. Further, Gartner predicts that CRM technology will represent the largest area of enterprise software investment by the end of this year. As with most enterprise software, there are many options on the market making it difficult for consumers to know which one to choose.
Leader in the market research space, Forrester has released their 2022 Wave for Core CRM solutions (Q3), a report analysing 11 of the most notable core CRM vendors in the market today. Forrester defines a core CRM as a ‘foundational front-office technology for managing customer relationships that place customer obsession goals within reach'.
CRM solutions help users manage, sales, marketing, and customer service activities by providing a central space to host all data and provide a 360-degree view of all customer touchpoints allowing for better consistency and efficiency across the business as well as more accuracy in reporting. According to Capterra, 47% of users said that using CRM significantly improved customer satisfaction as well as noting a 45% increase in sales revenue and 39% improvement in cross-selling and upselling processes.
When choosing a CRM vendor, Forrester recommends that customers seek CRM providers that:
Deliver a broad range of automation, guidance, and assistance.
Provide role-based experiences for front office roles.
Offer low-code tools for configuration, extensibility, and customization
Support the customer journey with a vibrant marketplace
Accelerate the transition to future fit tech
Forrester’s report analyses the CRM vendors in the market against evaluation criteria to divide vendors into four categories: Leaders, Strong Performers, Contenders and Challengers. Leaders showcase a current compelling offering and a future strategy that allows them to stand out in this crowded solution space. While they are not industry leaders, the strong performers offer an intriguing future strategy and notable use cases. Contenders provide a track record of delivering value for specific client use cases despite falling behind leaders and strong performers. Finally, challengers provide a well-liked offer and have established a brand presence globally.
Microsoft as a Leader
Forrester notes that Microsoft paves the way with data-driven and insights first customer engagement while also commending its capabilities such as low-code tools, AI fuelled next actions and easy automation for repetitive front-office tasks along with easy integration with Teams sitting within Dynamics 365 accelerating collaboration for those who use CRM and for the wider team. Forrester noted ‘Microsoft’s strong vision, the breadth of its suite and its partner ecosystem and industry solutions drive its 40% year over year growth, especially in industries such as financial services, retail, and healthcare'. If you would like to read the report in full, click here.
From enhancing customer and employee experiences to improving productivity with connected data and AI-empowered insights, Dynamics 365 CRM has something for everyone. Contact us today to speak to one of our specialists to start your Dynamics 365 journey.