Retaining clients, maintaining good relationships and growing customer numbers is crucial to business. In working towards this, independent market analyst Datamonitor estimates global enterprise spend on CRM application licenses will hit US$6.6 billion by year end 2012. Clearly, for vendors operating in this space, the stakes for the license revenues alone are high. However, Datamonitor’s new report which assesses the strengths and weaknesses of leading CRM vendors “Decision Matrix: Selecting a CRM Vendor,” suggests that despite numerous players operating in this highly competitive space, just two names might be on many IT decision-makers’ shortlists.
Although it says the CRM applications market is very competitive and there are plenty of players who can challenge the current leaders in specific circumstances, Datamonitor considers Oracle and SAP as the leading solution providers deserving a place on most procurement shortlists. According to Datamonitor, both vendors provide complete solutions replete with functionality, integrate CRM with new communication technologies and offer full flexibility of deployment options, from conventional on-premise, through to variations of hosted and on-demand solutions.
Nevertheless, Datamonitor believes Oracle should be considered the clear leader in the CRM application market. Having augmented its CRM product line through the acquisition of Siebel and PeopleSoft, Oracle now commands a strong portfolio of CRM solutions. Datamonitor’s analysis reveals that Oracle Siebel CRM sets quality standards in terms of technology and execution, although Oracle E-Business Suite CRM and Oracle PeopleSoft Enterprise CRM may be more suitable, depending on the functional requirements, specific sector demands and the deployment environment required.
Currently the principal challengers to the leaders, including Chordiant, Infor and Salesforce.com, all offer very good solutions but lack certain elements to compete consistently with the leading duo. More importantly, this group of the market will become more competitive if Microsoft’s forthcoming Microsoft Dynamics CRM 4.0 release is a success or if vendors such as RightNow Technologies and Consona improve their standing.
The evolving CRM strategies now demand CRM application solutions that can provide well-rounded suites covering all CRM modules, present a single analytical view of customers across multiple customer interaction channels and that can be rapidly deployed in a variety of deployment methods.
More information can be found at www.CRMindustry.com.