In family office management, the role of Customer Relationship Management (CRM) software has evolved significantly. Traditional CRM systems have paved the way for a new breed of software tailored specifically for family offices. This insight explores how next-gen CRM solutions go beyond simple contact management, transforming how family offices manage relationships, harness data, and optimise operational efficiency.
Basic functions of traditional CRM software
When thinking of traditional CRM software, companies like SAGE, SAP and Salesforce come to mind. They’ve helped companies manage customer interactions for years. And as businesses digitised, they’ve been at the forefront of automating processes and managing data.
Some of their basic functions include storing customer contact information, automating sales, and managing workflow activities. They also facilitate customer support by tracking customer inquiries, issues, and requests. Their ultimate goal is centralising customer data and providing actionable insights to drive business growth – usually for sales or marketing teams.