Account Management Software – Competitive Advantage
An Account Management Software for key accounts is undoubtedly the cornerstone in building long-lasting relationships with the most critical clients of any organization that opts for Key Account Management enablement (KAM enablement).
The critical clients, or the ‘Key Accounts’, are the ones which matter the most as they bring in the maximum share of revenue (up to 80%). The process of winning with these Key Accounts becomes simple with a reliable Key Account Management Software.
To establish and maintain any kind of systematic process at scale, a software for Account Management is the keystone. Managing data, delivering the analytical insights needed for decision making, and automating a lot of tasks that would otherwise take up valuable managerial time, becomes uncomplicated with this. In a hyper-competitive world, it is unquestionably a reliable Account Management Software, which can aid in harnessing the power of KAM technology, thus giving sales teams the competitive advantage they need!
Providing key insights – A Key Account Management software helps extract knowledge from data, providing Account Managers with valuable insights thus aiding in realizing optimal potential of the highly critical and complex Accounts.
Data in Silos – This technology also plays a significant role in handling the Data in silos which means Data distributed across multiple systems.
Integration of tools – It also helps solve the complexity of working on multiple tools and systems, by directly integrating these tools (like Word, PowerPoint etc.) with existing CRM and providing insights and analysis from existing data.
What makes an Account Management Software truly reliable?
Here the customer is the king!
A software for Account Management needs to keep your customers at the core of your business. It must function as a tool to help your Account Management Teams communicate with your accounts to strengthen relationships and help retain your customers.
It should also allow you to capture data on customer expectations, on their initiatives and also how to make such efforts yield results. This helps in aligning your value proposition to their requirements and challenges.
Helping in building relationships
It must also be able to establish a relationship between the Key Account Managers and the Accounts that matter most. Mutual agreement on demands and expectations bring in trust and drives customer growth.
How can Account Management Software help?
KAM enablement is done to help you grow your business from existing accounts. With its potent insightful key account management tools and technology an ideal software for must help in:
- Mapping Key Stakeholder relationships.
- Analyzing, tracking, and governing multiple Key Accounts.
- Building deeper and more revenue generating engagements.
- Nurture, farm, mine, and harvest the relationship with a system that gives meaningful insights.
- Identifying opportunities for growth with enabling tools and insights.
- Bringing spotlight on Key Accounts providing a deeper analysis, better planning, and reliable governance.
- Building annual plans inside your CRM, leveraging existing data, leading to specific goals.
- Institutionalize Key Account Management processes and methodology quickly and sustainably.
- Work seamlessly with CRM, without the needing further integration.
This software must provide a visual representation to aid strategic decision making, help you in data consolidation, management and analysis, and tracking, and giving insights on organizational hierarchy.
The Added Advantage
It’s easier to manage complex, global matrix Clients with systematic and standardized processes. It must get everyone on the same page so that you can shift the focus from management to grow more efficiently. There must be reduced dependency on individuals; and increased focus on harnessing latent intel.
Steadfast Key Account Management technology can help transform your business completely. KAM enablement helps in reducing people cost significantly. Key insights are given by a Key Account Management Software to also help in making an optimal use of upcoming opportunities by leveraging the data. These insights are hidden in data silos and are difficult to discover without the right Key Account Management tool. KAM technology also impacts the Business Cost remarkably, as time spent in creating reports, collating data and tracking down people reduces to a great extent.
The Cutting Edge!
To empower your Key Account Management, you need an Account Management Software, which will help you move from complexity to clarity, from value delivery to value creation, and from account management to account farming.
Only then you can focus on Key Accounts with deeper analysis, better planning, and reliable governance. This is why B2Bs across verticals are adding DemandFarm to their CRM. To add, DemandFarm has recently been rated as the ‘Best KAM Enablement Software’ by MarTech Advisor.
After all, when the best Account Management Software gives you the cutting edge, who would take the risk to be left behind!