CRM software is projected to become the biggest investment companies will make in the five-year period between 2025 and 2030.
In the near future, the CRM software market is expected to rise to about $35 Billion by the year 2023.
With so much money coming in, there are a lot of options available. One of the many choices that small business owners will have to make is choosing between a Cloud CRM and In-house (on-premise) CRM.
Cloud CRM is a web-based software where all the code resides on the “cloud”. Here, ‘cloud’ is simply an umbrella term. It means the software doesn’t need to be installed on your company’s network computers. You buy a membership, obtain an account, log into your account, and all the software is available on the website.
Choosing a CRM software is a complicated decision because it could cost a significant part of your budget. So you want to ensure that the CRM that you choose is capable enough to bring about all the positive changes it claims to bring.
The decision is about long-term revenue growth, and not just breaking even with your CRM investment.
As sales agents go about their day, they may be stationed within the office at their desk. B2B Sales often involves talking to the client in their office; traveling is a part of a sales agent’s job description. All business development managers need to account for the traveling expenses for the team.
And sales being a job with a lot of rejection, BDMs also have to ensure a higher level of sustained motivation within the team.
With an in-house CRM, any operational tasks that would require same day completion would require your sales agents to travel back to the office and log in an extra hour or two of overtime.
With cloud CRM, they could access the CRM system from their office laptops or even their mobile devices and finish a good percentage of their tasks while sitting in a cafe or traveling in a taxi.
This translates into some very important benefits for your business:
Data security is obviously a major concern and a valid one for those looking to purchase a cloud CRM.
In a 2018 report by Cybersecurity Insiders, over 60% of respondents said that cloud apps have security that is better than or at the same level of as that of on-premise apps.
More often than not, the challenges in cloud security have less to do with the software itself and more to do with the people who are using it.
In a stunning report, Gartner predicted that at least 95% of security breaches by the year 2022 will be attributed to policies for security and control at the client site - not at the cloud provider site.
So, how can you ensure proper security and control at your end after you deploy a cloud CRM.
First of all, cloud CRM security is different from security measures you would need to deploy for an in-house CRM. You must examine what the differences between two security implementations are and what measures can be useful in securing your cloud deployments. The articles linked in the above sentence should give you a head start to help establish a common ground over security with your cloud CRM provider.
With a greater technical focus on cybersecurity and physical separation coupled with higher resilience, you can get better security in a cloud CRM solution than in an in-house CRM deployment.
All of EngageBay’s data resides on Google Cloud. When you choose EngageBay as your Cloud CRM partner, you are assured of Google-grade security of all your data in the cloud.
There are a few features that make an offering based on Google Cloud Security unique:
For more details on Google Cloud Security, click here.