“Right to Do Vs. Right to Do”
This means every entity should understand the difference between correctness of an action and rights associated with it. If one has the right to do it does not mean it is correct for the situation and vice versa.
Has your organization chosen to use CRM as a platform for deploying applications in multiple lines of business? Even with a powerful platform like CRM in place, how to manage processes, people, and initiatives by aligning them?
CRM data governance, specifically account/customer data is a key variable for a successful deployment of your CRM tool . Companies ignore CRM data. Companies forget that continuous monitoring of data is essential for correct decision making. When there is duplication of customer data or certain wrong input, it does not show up the desired results. It affects quality of reporting. It may also have a direct impact on revenue or customer service.
Governance is a concept that has been around for a long time! We have read an article about how Bhagwad Geeta has spoken about Governance principles at length. It is not considered by most as a viable option because of misconceptions of what it really means.
Unlike what many believe, governance isn’t about regulations and limitations; it’s about standardizing and capitalizing on every opportunity to be more efficient, effective, and profitable. One can compare governance to sustainability. It aims at reducing, reusing, and rethinking!
Governance software tools like VComply are available to automate planning, task mapping and execution. It’s helpful if one uses a single tool or a few tools to track and report project status, project progress, issues and risks, change control, performance metrics and agile constructs (i.e. product backlog, release backlog, sprints etc.
To solve these challenges, there are a few governance models avaiable to accommodate this new reality. One is Gartner’s Application Strategy, generally just known as Pace. One can apply this to a governance model which aligns the methods business leaders use to create competitive advantage. It can be full of common ideas, different ideas or new ideas, by dividing a technology portfolio into layers of Systems of Record, Systems of Differentiation and Systems of Innovation.
When large to medium sized enterprise business are ready for a large CRM deployment or simply want to work on their data, they should consider a robust data management process to create and maintain your critical account/customer data. The process of data management should not act as the barrier to adopt a new CRM tool. It should enable the organization to understand the process thoroughly so as to ensure smooth functioning. It does help greatly to have a consistent mechanism for editing and managing the data such as approval process for data.
It is essential to know how one cleanses the existing data. “Cleaning” the data should ensure that the internal controls are in place. Atleast, one would want the a technology tool to cleanse (filter our junk data and bad words), rationalize (de-dupe) and integrate (tie to other systems such as opportunities, order data etc).
In summary, you do not need to complicate this area of CRM, but a set of standards that govern how one can create, edit and retire data. It is critical to clean information presented to your management by using CRM tool efficiently.