Businesses are using CRM platforms to manage B2B contacts and accounts. But 66% have not yet integrated sales forecasting and social network functions into them, according to a study from Simplus.
Of 400 businesses polled, 90% use CRM systems for pipeline management, 80% for account management and 70% for contacts management, apparently including email.
But 50% lack billing or ERP platforms, and 40% say that while they have such systems, they rarely use them.
Moreover, only 20% are using CRM platforms for revenue recognition and 10% for ordering, payment processing and general ledger accounts.
But firms are happy with their systems — 90% say their needs are well-reflected in their CRM platform, and 80% agree that CRM makes them more effective at their jobs.
In addition, 70% give their systems a five-star rating for their impact on the bottom line, and 75% feel the same way about their personal satisfaction with the platform.
The study also found that 40% of businesses are planning to implement a Configure, Price, Quote (CQP) solution over the next year.
However, only 10% of the respondents have CPQ systems that integrate with ERP, and 5% reported have CRM systems that integrate with CPQ and ERP.