Why CRM Systems Fail? Powerful tools, in the right hands

Helpful advices
10 March 2022

CRM’s are a vital part of doing business across almost every sector. However, despite the importance of these systems, they’re also prone to high failure rates, as high as 90% according to an article by Harvard Business Review. The question is “Why?”

The easiest way to begin understanding why CRM systems fail is to study some of the most prominent examples and take lessons from them.

Dow Chemicals: A lack of clarity

Dow Chemicals, one of the world's top chemical companies, launched a CRM system in 1996. While initially a promising move, the project eventually faltered due to unclear internal procedures and inadequate support for remote workers. To address these issues, Dow downsized its CRM, creating a more manageable system with tighter control and monitoring. Discover how Dow Chemicals resolved CRM challenges for better performance and efficiency.

British Airways: Poorly designed and over budget

British Airways has faced ongoing challenges with their systems. In 2001, they introduced the Oracle-based Ocean Wave CRM, but technical issues caused a delay of over two years. The data structure was not optimized for analysis, making it difficult to extract valuable insights. This led to slower analytical work and the need for extensive staff training. The system was known for being slow and cumbersome, while the data itself was of low quality. As a result, the effectiveness of the analytical teams was called into question. Discover how British Airways tackled these obstacles and improved their systems.

Blackberry: Collapsing communications and system outages

One of the most public tech collapses in history was Blackberry’s fall from grace. In 2011, the company’s bad decisions and management regarding their CRM systems led to consumers losing email and Blackberry Messenger services. This huge issue was compounded by the lack of a response to their customers and social media was flooded with complaints and high-level executives seeking answers. The company failed to respond via the CRM and their reputation tanked, further exacerbating the pressures they were facing from Apple at the time. The rest is history.


FX Back Office’s powerful tools

Utilizing the full potential of contemporary CRMs can unlock countless possibilities for companies. To avoid costly mistakes and time overruns, it is crucial to partner with a specialist CRM developer. These systems are complex and powerful, requiring dedicated designers to create fully-integrated CRMs that leverage their true power. At FX Back Office, we provide bespoke solutions tailored to the specific needs of forex brokers. Experience the incredible capabilities of a modern CRM with our expertly crafted solutions.

Modular, bespoke systems

CRM systems offer a wide range of options to cater to various departments and their requirements. However, there is a risk of these systems becoming bloated and difficult to manage. At FX Back Office, our experienced team specializes in creating customized solutions. Our modular system allows companies to have direct control over their forex CRM, specifying its functionalities according to their specific needs. This means that different parts of an organization can request tailored systems to address their unique requirements.

With our CRM, sales teams can effectively target potential clients through targeted marketing campaigns. Additionally, our system allows secure storage and management of KYC and other registration documents, with automated notifications for document expiration dates. We understand the importance of flexibility in IB commissions, tailoring them to suit your company's needs. Furthermore, our CRM enables seamless processing of deposits, withdrawals, and transfers. Whatever your company needs, we are committed to delivering the solutions you require.

Benefit from best-in-class software integrations

With the increasing demands customers place on their CRMs, it's impossible for one company to create every solution. One of the challenges faced by CRM designers and their companies is being tasked with creating systems outside their expertise. Our approach is to design a system that seamlessly integrates with specialized third-party software developed by expert companies worldwide. From VoIP platforms to KYC software, FX Back Office's CRM integrates niche software from leading companies, enabling forex companies to leverage industry-leading solutions across various applications alongside our own cutting-edge systems.

Boost your revenue

A CRM is nothing more than a tool to make money. It’s that simple.

With our modular and integrated approach, we offer a diverse range of solutions to address various challenges. Our expertise lies in helping marketing teams effectively reach their target clients and execute successful mass campaigns. Additionally, we provide valuable assistance to sales teams by facilitating seamless onboarding processes for prospects, supported by customized messaging and client management systems.

At FX Back Office, our mission throughout every stage of development is crystal clear: we develop systems that directly support companies in acquiring new business and efficiently managing existing clients and their needs. This not only saves you valuable time but also optimizes your financial resources.

No bloat, no overly complex procedures. Just simplicity, cleanliness, and straight-to-the-point effectiveness. We're crafting the future of Forex CRM systems. Take your next step and request a demo today!