Customer relationship management is a vital part of any company’s success and now with so many cloud CRM offerings, fulfilling this part of your business’ mission is easier than ever. But there are several potential roads to take, so let’s review some CRM solution implementations that might work well for your organization.

A recent outline provided in this Software Advice blog post provides some clear direction in terms of vertical, custom and build-your-own cloud CRM solutions, pointing out that “customers today have more options than ever when selecting a customer relationship management or other enterprise software system.”

This is indeed true so let’s take a look at exactly what those options are.

To truly create a functional CRM system, certain industries require that they implement one that is specific to their field, according to Lauren Carlson, a CRM analyst for Software Advice.

“Companies that require a high level of industry specificity should look into a CRM system that has been designed specifically for that vertical,” she said, citing an example of real estate professionals. They will want a CRM system to track not only client contact information, but additional data elements such as properties, lease/sales comps and stacking plans, which illustrate how “healthy” a property is in terms of tenants and leases, according to Carlson.

Important to note: There are clear benefits of taking a vertical approach, however, there are certain risks associated with a vertical CRM solution, she cautions.

“One is that some fall behind on core technology. Vertical solutions often don’t have a large enough market, and therefore enough revenue, to support the level of continuous technical innovation that a Salesforce.com, Oracle (News - Alert) or Microsoft offers,” Carlson said.

Another risk with vertical solutions is that they can be too consuming for some organizations, or in a sense “over-verticalized.” If your business requires an industry-specific CRM solution, make sure that its one built on a well-supported platform.

Most CRM systems are customized to some degree, and many cloud CRM solutions offer companies the ability to customize their systems without the need for an arsenal of IT professionals.

However, as Carlson points out, many companies getting started with CRM don’t know exactly what they need, and therefore might create a system that fails to incorporate best practices and processes.

Finally, there are plenty of build-your-own (BYO) cloud CRM systems on the market today, but you need to decide if this path is truly in your company’s best interest considering the time elements involved.

Building your own CRM system today is more feasible than ever, but the biggest hurdle will likely be finding the right developer talent, according to Carlson, who summarizes, “The BYO approach can give you precisely what you want, but it is never the fastest path to implementation.”

Want to learn more about cloud communications? Then be sure to attend the Cloud Communications Expo, collocated with TMC’s ITEXPO East 2012 taking place Jan. 31-Feb. 3 2012, in Miami, FL. The Cloud Communications Expo will address a growing need of businesses to integrate and leverage cloud based communications applications, process enhancement techniques, and network based communications interfaces and architectures. To register, click here.

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