Blockchain Technology for business solutions offers a great variety of use cases. Through a decentralized system with each computer on the network has a certain control over the infrastructure. However, blockchain changes the way customer relationship management systems are working for the better.
 
While blockchain technology also finds diverse applications in many other Business, Customer Relationship Management (CRM) systems happen to be a core part of any organization which intends to maintain a healthy relationship with its users. To analyze and address customer requirements, organizations need to build and maintain a proper CRM that tends to all these needs. 

Benefits of a Blockchain

Let us see the benefits of a Blockchain integrated CRM solution:

Open Dealings

With businesses dealing with customers on their CRMs with no other entity involved. It creates a sense of trust within the organization that their needs are being addressed in real-time. If you are an E-Commerce organization, you might be able to conduct transactions on your portal without involving a third-party financial organization. Not only does this increase the conversion rate. Since, the time taken for the transaction is less. However, you can redirect customer to other opportunities as they will be sticking on your portal.

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Improved Privacy and Security of Records

The customer information and data which include the transactions conducted with your organization will be secure due to the decentralized nature of the CRM. Since, each computer on the network almost has the same authority. There will be no need to keep a check and balance on the records. As, no one has complete authority over the system. This ensures proper regulation of any set policy on the CRM as well. 

Say Goodbye To Duplication

Blockchain will also end the need for database maintenance as there will be no duplications on the CRM once it is setup. All systems on the network will have a unique ID with control over the network distributed to all entities. There will be no tampering or duplications of records in this way. Since, every entity on the network will keep a copy of the records with it. This is the beauty of blockchain and the benefit of a distributed network with no central authority managing the affairs. 

Conclusion:

By the introduction of blockchain on your CRM, you are being transparent with customers and keeping things in check through a distributed network. Blockchain implementation allows you to keep a close eye on any fake entries and there is the least chance of these since each PC has minimal share over the network. The distributed ledger technology can be available to the simplest of use cases like payments of salaries where the organization and the employee, whose ID is on the network, both maintain the same record of a month’s salary. Hence if there is any discrepancy, both records are available to sort it out.
 
Organizations should take advantage of blockchain as possible and install it to ensure fair and transparent dealings.