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Small and mid-sized businesses (SMBs) have significant opportunities to use CRM to obtain the best value from their business at an exit, succession or transition according to a new Sage Software Business Minds survey conducted by Vanson Bourne, an independent research company, on behalf of Sage Software. With a large number of SMBs looking to exit in the next few years, Sage warns these businesses need to find ways to compete more effectively and to differentiate themselves in a buyer’s market.
Having customer data in a single CRM system is a tangible asset according to 70 percent of respondents with such exit strategies. However, only 35 percent use a CRM solution to help advise on their business strategy. This problem is further accentuated by poor planning with 65 percent of SMBs not having or unsure about their exit strategy. The findings by Sage were part of a global study exploring the relationship between the use of customer data, business strategies and performance.
Sage believes that many SMBs are not putting customer data to its best use as a tangible asset when seeking an exit. Having a central record of all customer relationships is a tangible business and financial asset for companies seeking an exit, whether that is a trade sale, succession, venture capitalist or public offering. According to Sage, having a CRM system provides a strong negotiation tool in which to maximize the value from the business because it provides any future owner or manager insights into the customer base and opportunities to hit the ground running, but also minimizes disruption to customer service. Supporting this position was the finding that 48 percent of respondents said that CRM would reduce the risk of losing customers at an exit and would improve the continuity of the business during such a transition.
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Today's Special Column
with Ashok Gulati
International Food Policy Research Institute , Director in Asia


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