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Why Blockchains are a ‘natural extension’ to your CRM?


Introduction

Do you actually think that Blockchain innovation starts and finishes with Bitcoins? If so, you have never grasped the fact that Blockchain is scripting the next technological innovation in the IT world and will gain significantly greater importance in the not-so-distant future.

Blockchain across the globe has opened up a totally new scope of conceivable outcomes and has redefined how the current business cycles and advancements work. Blockchains added to your CRM can help you gain the unrivaled edge for managing your data and relationships in the most productive manner.


How to chart your blockchain journey?


As per the World Economic Forum (WEF) :

“Blockchain has the lasting potential to alter global supply chains, but it must also overcome several challenges standing in the way of widespread uptake. Because it is a nascent technology, supply chain decision-makers do not yet have clear guidelines to ensure that blockchain deployment carefully considers unintended consequences and minimizes risks. Without such guidance, unscalable, fragmented solutions that risk integrity could dominate the marketplace.”



WEF defines Blockchain as “Blockchain is a shared, distributed ledger of records

or transactions that are open to inspection by every participant but not subject to any form of central control.


What benefits do Blockchains bring to your CRM implementation?


Blockchain implies added security of your CRM Database

  • Blockchain blocks or transactions remain cryptographically derived in a way that the clients of this innovation can get to the chain assuming they have the admittance to the organization keys that stand as a gatekeeper, for preventing unwarranted access.

  • A combined framework of CRMs and blockchains helps to deliver you a robust lead and relationship management system, that cannot be rivaled or replicated by your competitors and unwanted elements keeping your data absolutely safe and secure.

Eradicate ‘needless’ CRM database tracking mechanisms


  • A combined Blockchain - CRM framework can help you keep your database - sound, secure and tamper-proof, and help you remove duplication and corrupted records; which may hamper the way you manage your leads and relationships

  • This inborn design of Blockchain innovation forestalls duplication of CRM information or defilement of data by creating some issues with the CRM database


Improved Transparency


  • Blockchain works in decentralized environments. It permits your organization to safely and straightforwardly manage your clients without the requirement for a monetary establishment

  • Financial transactions can now happen without the intervention of a bank or a financial intermediary. The end of the involvement of these 'money-chain brokers' helps you achieve greater proficiency and speed in the entirety of your dealings.

Advanced-level User Privacy Control


  • With worries about personal information security on the rise and defining privacy policy frameworks across the globe, CRM frameworks should address them by changing how they handle client information.

  • It can store/cipher individual data without really imparting ‘points of interest to the concerned gatherings. This awards clients a more noteworthy command over their personality.



Information Cleansing


  • With blockchain set up, a client can have their own special individual key that presents organizations with a brought-together and precise image of their own data, past exchanges, memberships, and so forth

  • Blockchain assists these organizations with bypassing the issue of the off base, outdated, and copy information records by and large. This ensures better experiences for clients and assists organizations with leveraging upon actionable inputs, more frequently.


For more information, stay tuned for our next blog post on Salesforce Blockchain Implementation.





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