The key to success in this decade is retaining existing profitable customers; because it has several benefits like cost-effective word-of-mouth marketing, cross-selling opportunities, predictable demand forecasting and more. Customers will remain loyal if your products and services simplify their life and match their needs.

Without the proper tools, all customer facing teams find it challenging to maintain a positive customer experience, increase rapport and retain customers. Sales teams spend too much time on non-core activities and struggle to access real-time information. Information collated from multiple channels is not available centrally and effects the performance of all teams.

In today's product conscious market, it is important to focus on simplifying the life of customers and optimizing their experiences when interacting with your organization through any channel. Cutting costs by finding stop-gap solutions will only temporarily solve an existing problem. Also, creating in-house systems without industry best practices will not be scalable and lower productivity in the long term. Maintaining, enhancing and upgrading these systems to match new requirements and larger volumes of data will not be cost-effective.