Should Your Company Renew Its CRM Contract?

Your organization’s CRM contract is coming up for renewal and a large check needs to be written to your CRM provider. Even though you knew this day would eventually come, it’s still a really big check. Your users have been happy with your current CRM solution, but there are less expensive CRM providers out there that offer more or less the same functionality.

Should you switch CRM providers?

CRM Contract Renewal Check

The answer as to whether or not to switch depends upon a number of factors.

How much will you save per year in subscription costs by switching?

This is a relatively easy number to estimate, as all CRM vendors publish their list prices.

What will be the services cost of replacing your current CRM system?

Consider both the soft cost of internal resources as well as the cost of any outside consulting assistance. Among other things, there will be costs associated with project management, customization, integration, data migration and training.  Also consider the fact that there will be disruptions to the daily flow of business, related to moving from one system to another.

What CRM functionality will you be gaining and what functionality will you be losing?

While CRM systems have a lot in common with one another, it’s inevitable that a replacement system will be missing some of what the old system had.  But the replacement CRM system will also have features and functionality that the current system does not have. Is there anything that may be missing from the candidate replacement systems that’s critical to your operation?

Are there any third party products that work with the current system, but that won’t work with a replacement system?

Are you currently using any third party products that integrate with your current system but that will not integrate with a replacement system?  If yes, are there third party equivalents to what you are using now that will integrate with the new system?

Will your user adoption rates increase or decrease?

It’s very unlikely that the user adoption level of a new system will be identical to that of the existing system.  Make sure that your users weigh in on the new system before you make the change.

These are just a few of the factors to consider if your CRM contract renewal date is coming up and you’re uncertain as to whether you want to pay the price to renew.

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