Why CRM is Your Most Important Financial System

At the 2014 SiriusDecisions Summit this week Malcom Gladwell (most famous for his books Outliers, Tipping Point, and Blink) presented the concept of the importance crmof re-framing. Reimagining what you do or re-framing a familiar system is core to transforming organizations, says Malcolm.  As a key example, Malcolm discussed the transformation of worldwide shipping systems with the invention of the container.  The same sort of re-framing should be applied to how we think about our marketing automation and CRM systems.

Today we run financial systems to summarize the business results of our companies.  But all those results are looking in the rear-view mirror, showing what we did or what we accomplished.  Marketing automation systems and CRM systems show what’s happening now and the data can be used to predict what will happen in the future.

Someone once told me “financial information should not be stored in a marketing automation system.”  I tend to agree with that.  There’s no sales information in the marketing automation system.

To understand what’s going to happen, the CRM system is your best bet to collect information on all the sales and marketing activities regardless of the source of the business – marketing, sales, telesales or partners.  That’s why CRM is your most important financial system.

Bonnie Crater

About Bonnie Crater

Bonnie is a 5-time VP of Marketing at Genesys, Netscape, Oracle (Network Computer Inc.), Stratify, and VoiceObjects. While valuing the creative side of marketing, Bonnie's real love is marketing operations -- measuring marketing investments and determining investment optimization. Now as CEO of Full Circle Insights, Bonnie is working to help fellow marketers get the data needed to succeed. In 2000, Bonnie was named one of the “Top 20 Female Executives in Silicon Valley” by San Jose Magazine. Bonnie holds a B.A. in biology from Princeton University.