The human capital theme spans specific features such as employee history, relationships and connections, job listings, compensation, and corporate governance, to name a few. Content associated with an individual can be used for more mature-but no less critical-in-house workplace applications such as Client Relationship Management (CRM) systems. In this article, we’ll focus on this business workflow.
The CRM domain of human capital data is an environment where externally sourced data is often used in conjunction with internally collected data to support sales and marketing activities as well as lead generation.
Traditionally used by organizations as a place to store contact details and meeting summaries, they also use CRM applications to enhance their business development and prospecting activities, with the goal of driving new business and add-on sales. Today’s CRM tools bring additional sophistication and functionality that enable sales representatives to uncover opportunities that otherwise may have been overlooked. We will first introduce the CRM market as a whole and then observe its rapid growth in the software industry.
The CRM Market
CRM is now the biggest software market in the world with rapidly increasing growth. The current estimated market size of approximately $32 billion is on course to more than double by 2023. One of the key factors behind this growth…