What is a Customer Relationship Management System?

For those who offer professional services, such as accountants, a customer relationship management system—CRM, for short—can facilitate the often-neglected business development work that needs doing. With a minimal amount of weekly use, a CRM system provides information sharing and updating, technology support, and focused marketing efforts—tasks that don’t often come easily to CPAs.


So what, exactly, is a Customer Relationship Management system?

A CRM is a centralized location used for managing and analyzing key business relationships in order to facilitate growth. It works by compiling all of your firm’s business contacts—including clients, prospects, and referral sources—into one open system. Company-wide access to all business contact details helps every team member to improve relationships, retain more customers, and drive sales growth.


Why should my accounting firm consider using a CRM system?

A CRM ensures that your interaction with contacts is personal, relevant, and up to date. Your CRM is the central location for company contact information. Users record every interaction with their clients—such as phone calls, emails, and meetings. Thus, all of the information for every company contact is accessible to every team member, creating greater synergy.

Further, CRM systems allow you not only to manage, but also to analyze, your business relationships. Many CRMs offer access to client survey systems, such as the Net Promotor Score® (NPS) Survey. Measuring and understanding the satisfaction of your clients guides your business development efforts.


What are the typical functions of a CRM system?

At its most basic, a CRM system is simply a database used to compile company contact information in a manageable and easily-accessible location. However, over time, a number of additional functions have become common to many CRMs, including:

  • Customer information tracking – A CRM is the central location for company client information. Users record each client interaction and all information is available to the whole company.
  • Lead management – Most CRMs include a sales pipeline tool for monitoring business development efforts. Use it to track sales opportunities, measure referral activity, and manage team accountability.
  • Content sharing – Aggregate and share content with your contacts. Consequently, you will position yourself as a thought leader in your field.

Above all, the main driver of firm growth is the effort that you and your fellow team members put forth. That said, a CRM system can greatly help to lighten the burden of business development tasks.


Find out if ABLE is the right CRM for you!

ABLE is a client relationship management system designed by accountants and for accountants. With as little as 15-30 minutes of use, weekly, ABLE guides accounting professionals through employing a variety of CRM tools for business development. To see how ABLE compares to other CRM systems, check out our “How ABLE Measures Up” series, or take a look at this CRM comparison chart!

Perhaps you’d like to learn more about how a customer relationship management system can help your firm? If so, please reach out to us at your convenience to schedule a no-obligations demo of the ABLE system!