Any-Relationship-Management is the further development of Customer-Relationship-Management (CRM), which is why it is alternatively referred to as Extended Relationship Management, or xRM for short. The x stands, as in mathematics, as a variable quantity or placeholder for any actors and objects with which your company has a relationship.
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What is the difference between xRM and CRM?
Whereas with a CRM system you focus your activities on customers, with xRM you focus on relationships and objects of all kinds. This means, for example, that you can map relationships with suppliers, partners, competitors or internal and external employees, manage objects such as contracts, machines, plants, vehicles or real estate and also administer the complex connections between organizations and objects.
What are the goals of Any Relationship Management?
With xRM technology as the leading system, companies are able to track every interaction with people and objects, automate processes, gain insights from interactions and use these to create targeted measures , campaigns or personalized experiences.
xRM offers comprehensive analysis and evaluation options that enable you to discover potential opportunities or risks and make faster decisions. These could be decisions about the use of certain materials, for example, or about which of your employees are best suited to a task, or even a decision to replace an entire machine instead of individual parts.
Important objectives of xRM include
- More transparency in interactions in relationships
- Time-saving automation
- Optimization of experiences at contact points through better understanding
- Increasing loyalty in relationships by optimizing products, services and services
- Better focus on successful projects with analysis functions to increase resilience
- Rationalize actions and reduce costs
- Increase sales opportunities
What advantages does Extended Relationship Management offer?
All information on a business process is bundled and stored centrally in xRM. The central database makes it possible to track, process and evaluate data across different channels, departments and locations, as well as to optimize processes, such as machine maintenance and servicing processes in mechanical engineering service.
Important functions are integrated into xRM to ensure smooth and consistent processes. These include, for example, tools for comprehensive collaboration (such as email, video call & chat), calendars, appointment & route planning, tools for project management and approval workflows, ticket management and the ability to store large documents of all kinds.
What types of relationships does xRM cover?
Any-Relationship-Management refers to all types of business relationships that a company may have. The following list of organizations with which relationships can be maintained does not claim to be exhaustive and can be continued almost indefinitely:
- Machine and plant manufacturers
- Transportation & logistics companies
- Lawyers and law firms
- Business advice & consulting companies
- Architects, structural engineers, construction and trade companies
- Banks & other financial institutions
- Associations and clubs
- Churches, church organizations & municipal administrations
- Suppliers & dealers
- Print shops, packaging & finishing companies
- Pharmacy & chemistry
- Universities & research institutions
Which integrations make sense for xRM?
Theoretically, any integration with other software and platforms can offer your company further benefits and better insights into your business performance. An API ( Application Programming Interface) is required to ensure smooth communication with external solutions and thus a uniform level of information in all systems. Examples of useful integrations or interfaces to other systems can be found here:
- ERP (Enterprise Resource Planning)
This integration makes it possible to combine systems such as finance or warehousing with xRM into a single, standardized platform. This makes it easier to manage business processes while providing a real-time overview of the company's performance. - Accounting software
Integration with accounting software ensures that all financial transactions are accurately tracked in both Any Relationship Management and your accounting system to ensure the accuracy of business records. - E-commerce platforms
Integration with e-commerce platforms such as Magento or Shopify allow online orders & payments to be managed seamlessly from xRM. This can be particularly helpful for businesses that have both an online presence and multiple physical locations or offices. - Social Media
By connecting social media platforms such as Linkedin, Facebook, Instagram or Xing, companies can better analyze and understand the behavior and preferences of their relationships, but also make new personnel curious about your company. - AI (artificial intelligence)
AI tools can be integrated into any relationship management system to automate and streamline processes, e.g. to optimize customer segmentation or personalize product recommendations. They also support the creation of content for different recipient groups. - BI (Business Intelligence)
With BI integration, you can gain valuable insights from your data, e.g. identifying customer trends or predicting customer behavior. This can help you to optimize your strategies and identify growth opportunities. - Marketing systems
By integrating third-party marketing systems, companies can generate leads and optimize or expand the performance of their campaigns.
How can you implement any relationship management?
You start with CRM software that allows you to clearly map customer relationships and offers the necessary options for expanding to xRM. With the right CRM partner, the CRM can be expanded according to your requirements to create your individual xRM for any industry.
The basis for your considerations can be either the contact, object or project level.
- Address basis: Based on the data of a customer, supplier or partner, all related processes, such as correspondence or contracts, can be recorded in the system.
- Object basis: An object, such as a machine or a vehicle, can also be at the center of the view. All relevant processes can be displayed.
- Project basis: Many companies work on a project basis. A project can also be the focus. For this, you need project documentation that manages the relevant activities, information, participants or interest groups.
Free white paper: xRM
Compact summary of the meaning, advantages and implementation of xRM (= Any Relationship Management) with 3 simple examples.
