The customer relationship management is the building block of any business. The CRM software has changed the way we look at working of business in current time. It just completely transformed the entire business world.
The competition among CRM vendors has all the features of an arms race. Oracle and Microsoft, they are the market’s leading software and Cloud supplier, showing off in the market that they have the best and most powerful new functionality software in the market. The biggest advantage of this arms race between these big companies automatically gets beneficial for the general users. They get the best product at an affordable price point with the amazing features that they definitely won’t be using in the near future.
Being in the arms race is very costly, so there are a lot of chances that vendors like Microsoft and Oracle do not get a lot by the current situation of the arms race.
Mobile and cloud-based CRM introduced in 1999 and the first open source platform was rolled out in early 2004. Many CRM began adding specifications to help users capitalize on the increasing opportunities offered by social media.
But this was the situation 20 years ago. Now the technology is improving very fast and provides solutions rapidly evolving to incorporate intelligent analytical capabilities and automation tools. In the recent few years, the demand for CRM products has been increasing at an exponential speed. Because businesses have become more aware of the value to be derived from customer data and target marketing and it can be easily possible by the customer relationship management software.
According to the latest reports, CRM is one of the largest and fastest growing software markets on the planet. In the last year 2017, the total revenue collected by the CRM products market is about $40 billion. In the upcoming future, the expected growth of this market is about $80 billion.
How Microsoft entered the CRM market?
Microsoft is a giant tech company which holds a huge amount of market share. So how it is possible Microsoft will ignore the fastest growing CRM market, they are waiting for the perfect time. There are the hundreds of CRM vendors in the market but very limited numbers of key players are at the top. So Microsoft took an important step to acquiring the small vendors of CRM products the market.
iCommunicate was the first acquisition of Microsoft that happened back in the year 2003. In the following decade, the performance of the Microsoft is quite good and hold up a good share of the CRM market.
With the company’s constant innovation of its sales automation software over the years, it has finally achieved a decent position in the market. In other words, you also can say the Microsoft is the new leader of this market. In the recent survey, it was said that Microsoft has overtaken the Salesforce (Oracle) in CRM sales software. It is assumed that this is a big win for the Microsoft.
How Microsoft won the Arms Race?
The CRM market is very competitive as we have earlier discussed, companies like Salesforce and Oracle were the leader of the market and doing way better than Microsoft when it entered the market. Salesforce was considered as the synonyms of CRM and this company was the leader for the longest time. Even Oracle has offered the forecasting capabilities needed to drive smarter sales. But the biggest disadvantage with both two big giant companies was the lack of critical industry-specific features in their software.
But when Microsoft launched Dynamics 365, the company moved one step further in competing with Salesforce and Oracle. The most exciting and advanced features of Dynamics 365 was its new and improved filter data stored across the organization and social media sites and offer other intelligent sales options.
What are the main advantages of Microsoft?
Microsoft has the right vision for the future and this is proved by things such as heavy investment in machine learning and artificial intelligence, acquisition of LinkedIn, main focus on seller productivity.
- Outlook on the Go: In the previous time, when all the big tech companies were focused on the reporting and analytics, Microsoft put its focus on Outlook that made possible the improved productivity of the seller on the go. Outlook has main features like sharing real-time analytics with the team from the field added the increased revenue of the company.
- Artificial intelligence and Machine Learning: The biggest bet of the company was on the artificial intelligence and machine learning. Capabilities of these technologies drive a competitive advantage and generate precise results
Other factors included like merging of LinkedIn and its popular software Dynamics 365 is also considered as the key player that helped in winning the arms race of Microsoft.
We are in the exciting stage of technology where anything can happen that is beyond your imagination. In the future of Dynamics CRM consultants market, expect to have more impact and influence over your social networks than ever before.