CRM development using blockchain technology

Business process automation greatly simplifies the life of many companies. A properly configured CRM system (Customer Relationship Management) allows you to increase sales, structure customer relationships, increase the efficiency of work with leads, improve workflow and evaluate employee productivity.

Technological progress does not stand still, therefore innovative solutions regularly appear on the market. In order to optimize customer data management, developers design blockchain-based CRM systems.

For the foreseeable future, this technology can significantly expand CRM functionality, increase ROI and build trust with customers.

Enterprise-level blockchain adoption has many benefits, including security, automation, and cost savings. To improve business performance, AVADA MEDIA is exploring the possibilities of converting ideas into first-class blockchain solutions for different companies.

CRM must not only organize the work of sales and marketing departments, but also meet the unique needs of the business.

With its help, you can organize large amounts of data within the company, automate lead generation, mailings, customer returns, upsale / crosssale and thus speed up customer service and close deals.

One of the important advantages of the system is that the entire history of working with clients is stored in the program (in chronological order). If necessary, you can always study the list of requests and orders, analyze the turnover of funds, listen to conversations, issue an invoice or write a letter. CRM will take over some of your work, for example, quickly create a document or generate a report.

The system will support your business growth with the following benefits:

• marketing optimization: CRM collects information about the target audience, helps to highlight customer needs and set up targeted advertising campaigns based on this data;
• improved coordination: the program simplifies interaction between departments and monitors key performance indicators of employees;
• acceleration of business processes: the system automates the preparation of proposals and order processing;
• visualization: when managing a sales funnel, you will be able to study all the main stages – from the first contact with a client to the conclusion of an agreement;
• improving workflow efficiency: attracting new customers, increasing conversions, retention rates and customer lifetime value – all these functions are aimed at improving the workflow and, accordingly, increasing profits.

Almost any growing company sooner or later decides to organize data and structure work with clients. First of all, the development of an individual CRM system is necessary for a medium or large business, which is built on operational interaction between departments in compliance with certain standards. Small businesses tend to opt for boxed versions.

At the same time, custom CRM development has a number of advantages:

• customization of the system for your business: wide functionality, choice of role in the system, analytics, etc .;
• user-friendly interface;

• high level of security;
• ample opportunities for further integration.

Unlike a CRM system developed for the needs of a company, a universal boxed version requires less costs (since it is a finished product), but implies making payments for support, customization and improvement of the program. In addition, it has limited functionality and a set of licenses, and the structure does not always meet the needs of a particular business.

Full-featured CRMs involve segmentation and allow you to focus on your customer priorities, from assessing customer behavior to exploring and testing the potential of your business model.

Blockchain is a decentralized digital ledger protected by encryption and efficiently tracking transactions between parties. Information about each transaction is stored in an immutable chain. Depending on access to data, there are:

Open blockchain (public blockchain), which is often used in the field of cryptocurrencies. All users on such a network can view transaction history and create smart contracts. The open blockchain is rarely used by companies that store sensitive information.

Private blockchain involves restricting access to data stored in the registry. Members of the network must have the appropriate permission to view information and send transactions.

You can read more about how blockchain helps in customer data management in the article “Implementing Blockchain in CRM Systems”.

Integration of blockchain technology into CRM improves transparency and reliability of work. The company will be able to do business with clients without the use of intermediaries and third parties, which will increase the efficiency and speed of transactions.

When developing a CRM system, it is necessary to take into account the concerns of users about the security of personal data. Blockchain can store information and verify it without disclosing any details to interested parties. The technology provides a high level of protection, and the database is distributed in nature, so any attempts of unauthorized access or fraud are virtually impossible.

Often, for one reason or another, CRM users have to deal with inaccurate or duplicate data. Blockchain implementation involves the use of keys that provide access to verified information, which automatically solves this problem.

Blockchain continues to evolve and over time can not only change the approach to CRM, but also affect the overall understanding of the operating model of the business.

The AVADA MEDIA team has been developing convenient, scalable and reliable CRMs for over 9 years. We offer complex and easy-to-configure systems with a large number of integrations that will help you grow your business.