Malaysia is a rapidly developing country, with lots of opportunities for all types of businesses. There’s no wonder the IT industry is passing through a stage of rapid growth, as the market demand is so high. Newly created businesses, as well as established ones need business management software solutions in order to increase their efficiency and productivity.
According to Star Solutions CRM Malaysia provider, it is one of the IT products in very high demand. When a business has only a handful of customers, it’s easy to keep track on everything they need and on their personal preferences. You can even remember the birthday of their CEO or manager. However, when you have hundreds and thousands of clients, plus lots of potential customers and leads, it’s impossible to know everything about them without a help from the outside.
This help is the Customer Relationship Management (CRM) Software. This is the generic name for computer programs that help a business keep an evidence on their customers. You can use this kind of software for helping your sales team plan their field visits, produce reports and make special notes about various customers they’ve visited. This eliminates the need of regular sales meetings in which to discuss such problems, as managers can see them in special reports, easy to generate from the software.
CRM systems are the preferred solution of all big companies at global level. Malaysia makes no exception, businesses that operate here need to use such systems if they want to be competitive and defend their market share or acquire new customers.
If your data is accurate, a CRM system can help you segment your customers, so that you can direct more time and resources towards those who have a better business potential.
Malaysian companies saw their international competitors at work and decided their systems were good, so they followed. This is how the demand increased even more, making lots of software producers assign some resources into the development of cutting edge CRM software.
The CRM software market is now full of players, international companies such as Oracle and SAP and local ones. They all fight for local businesses that expanded to the level where they can’t operate without automation in place.
There are estimations that show the Asian CRM software market was over USD $460 million last year. This is a tremendous growth compared with the $70 million in 2006. It is a huge opportunity for the entire software industry in Malaysia, as more and more companies realize CRM software and cloud solutions can help them make important savings, thus leading to better profitability.
The fact that many business owners prefer CRM software-as-a-service (SaaS) solutions instead of on-premise versions is another window of opportunity for IT providers to gain even more business. Such solutions are very cheap, this being only one of the reasons why business managers prefer them. Moreover, cloud solutions come with the advantage of having your database hosted on very powerful servers no small business in Malaysia could afford to buy. Specialists say this trend is going to continue over the next few years, with more and more players on the market switching to CRM software deployments. This situation is similar to the one of outsourcing customer service departments, thus saving a lot of money and keeping the headcount low.
In conclusion, the Malaysian CRM software market is going to reach new records. The first players to provide SaaS services are going to become market leaders and they might even start promoting their services abroad, to other Asian countries or even to America or Europe. There’s a huge potential here and smart business owners are going to enjoy a flourishing period for at least a few good years.