CX market analyst Forrester has published its 2022 Wave for Core CRM Solutions (Q2).
With 84 percent of software decision-makers at enterprises and 77 percent at SMBs noting that they already use or plan to use a CRM, as per Forrester, the software has become a cornerstone business technology.
Yet, as with most enterprise software, there are many options.
Thankfully, Forrester analyses 11 of the most prominent core CRM vendors after offering a clear-cut definition of the technology.
The Definition of Core CRM Solutions
According to Forrester: "Core CRM is a foundational front-office technology for managing customer relationships that places customer obsession goals within reach."
As such, a core CRM facilitates service, sales, and marketing activities by creating a unified customer view, which includes conversation and purchase history. It may also feature soft data, such as sentiment or satisfaction scores across the customer lifecycle.
Such data powers many automation, collaboration, and engagement initiatives, the sophistication of which often hinges on the core CRM vendor.
On this note, Forrester recommends that CRM customers leverage providers that:
- Offer role-based experiences for front-office roles
- Deliver a broad and deep range of automations, assistance, and guidance
- Include low-code tooling for configuration, customization, and extensibility
- Have a vibrant marketplace to best support the customer journey
- Accelerate the transition to future fit tech
Assessing possible vendors against such criteria is tricky. Fortunately, Forrester lends a helping hand with a 35 criterion evaluation that divides vendors into four categories: Leaders, Strong Performers, Contenders, and Challengers. Here, we review them all.
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Forrester Wave for Core CRM Solutions 2022[/caption]
The 2022 Forrester Wave Leaders in Core CRM Solutions
Forrester Wave Leaders showcase a compelling current offering and go-forward strategy that allows them to stand out within a crowded space. This year’s Leaders are:
- Microsoft
- Salesforce
- Oracle
- Pegasystems
Microsoft
According to Forrester: "Microsoft paves the way with data-driven, insights-first customer engagement." Moreover, the analyst lauds its capabilities that include low-code tooling, AI-fuelled next-best actions, and automations for routine front-office tasks. Also very innovative how Teams sits within Dynamics, enabling collaboration and knowledge sharing with CRM and non-CRM users.
Salesforce
A vision to deliver a complete solution - not technology innovation alone - drives Salesforce forwards. Forrester admires this, alongside its Slack-infused CRM use cases, digital sales capabilities, and low-code/no-code tooling. Finally, the analyst suggests that most successful Salesforce-driven transformation projects come when the vendor plays the role of a strategic partner.
Oracle
Oracle offers a deep core CRM offering that excels in connecting organizational siloes. While noting this, the analyst also commends its quickly evolving user experience, unified analytics engine, and the vendor’s support for complex sales scenarios. Such scenarios include AI-driven forecasting, bookings, and the collection of behavioral data.
Pegasystems
Pegasystems aims to offer an autonomous CRM that tackles monotonous, repetitive work through automation that increases enterprise efficiency. In striving to meet this vision, the vendor has developed "exceptional automation and process management within its CRM," as per Forrester. It also excels in its real-time analytics, allowing companies to anticipate customer needs proactively.
The 2022 Forrester Wave Strong Performers in Core CRM Solutions
Forrester Wave Strong Performers may fall short of industry leaders. However, these vendors offer impressive use cases and an intriguing future strategy. This year’s Strong Performers are:
- Creatio
- SAP
- SugarCRM
Creatio
While others may stoop over Creatio in their global presence, the vendor offers a robust, low-code CRM that Forrester describes as "truly composable." Its vision to develop disruptive digital workflows across industries - while providing a choice of channels, personalized options, and coordinated CX - also impresses the analyst. Yet, it could perhaps extend its marketplace.
