The costs for building customer relationship management systems are expected to rise to $130 million over the next three years, said a new Report by Forrester Research, Inc.
Part of this is caused by redundant systems and poorly coordinated spending on the part of companies. Firms can save money by managing their investments and leveraging CRM systems to meet their most pressing problems, the report continued.
“Many companies have made no formal evaluation of their CRM program, and as much as 20% of typical CRM implementation is wasted due to overlapping software and lack of coordination across functions like marketing, sales, and call centers,” said Forrester analyst Bob Chatham.
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