In today’s information-driven world, seamless, automated systems for collecting and using data are no longer just a nice-to-have. Across virtually every industry from real estate to health care to hospitality, every kind of organization needs data to function. Chances are, however, that at least one of your data systems is outdated, clunky, overwhelming, or otherwise problematic. If you’re feeling the frustration, chances are your employees are too, and it’s time for a major upgrade.
OK, but where do you get started, with new systems and technologies on the market for just about every function you can think of? In most cases, that depends on your industry or niche, or on how long it’s been since your last tech stack upgrade. Before you make a decision, consider your most important business functions, and/or your slowest-loading Excel spreadsheets. Here are some of the most common ways to modernize and optimize your business data systems.
1. Global Address Lists
A global address list (GAL) is a shared address book that contains contact information for all of an organization’s employees and/or other users. It can be accessed using email platforms like Outlook or Google and might include info like their email address, phone number, and job title. If a user needs to reach someone whose info they don’t know, they can look that person up by typing their name. In many cases, only a first or last name is needed to find the correct person.
Most organizations use some form of enterprise software, like Microsoft 365, to create their GAL. It can only be updated and maintained by certain employees, like IT administrators with higher-level permissions. When an organization goes through a large merger or acquisition, updating the GAL can become a time-consuming project. Many organizations use special software to automate and optimize this GAL synchronization process.
If you’ve worked at any large company, you might’ve used a GAL without even realizing it. You might’ve needed to reach someone in HR or sales, and typed the first couple letters of their name into Outlook. If you’re at a growing company, however, you might not have one yet, and you or your employees could be losing a lot of time. As your company grows, it might be time to consider investing in a more robust address book system, like a GAL.
2. CRMs
A customer relationship management system, or CRM, helps organizations store and organize data about their audiences. In simple terms, it contains all the information and analysis needed to help nurture relationships with clients or customers. A CRM typically contains not just contact information, but also personal and communications information and insights. For example, it might contain records of chats or predictions about whether a prospect will convert.
CRMs are useful in all kinds of industries, from selling SaaS software to planning large corporate events. They can be used to improve customer support, organize marketing efforts, schedule sales emails, set up meetings, and more. Many offer functionalities like automated emails or reminders to follow up with particular prospects. They can even tell you which types of communication a customer prefers, like social media, email, or texting.
Yet, with all their many advantages, many organizations still haven’t upgraded to modern CRMs. They’re using old, legacy systems — or worse, Excel spreadsheets — to keep up with their most important prospects. Customer data can wind up siloed, and leads may get lost in the shuffle or receive duplicate communications. While a CRM can take weeks or months to implement, the process is getting faster, and the benefits make it well worth the transition.
3. Cloud Servers
Storing vast amounts of data used to be incredibly costly for many organizations. You needed the capital to invest in physical servers, electricity to run (and cool) them, and space to house them. You also needed to worry about things like onsite security measures, like cameras and secure facilities. An organization could spend a small fortune just on storing customer information, financial records, or research data.
With cloud storage, the majority of these overhead costs are eliminated. Many organizations need only pay a few hundred dollars a month in fees. They simply contract with a cloud provider like Google or Microsoft, via monthly subscription. Some feature pay-as-you-go models, where you never have to pay for more storage or computing power than you actually use. These models are especially convenient for companies likely to find themselves scaling up or down.
Cloud servers are appropriate for most types of organizations, except those in highly-regulated industries like healthcare, legal, or defense. These organizations might be subject to data compliance laws that require them to store sensitive data onsite or on dedicated servers. Onsite servers can mean faster data processing and response times, as well as usability even in an internet outage. However, their cost makes them impractical for all but the largest or most highly-regulated companies.
When In Doubt, Upload It
The common thread between all three of these big changes in data is that just about everything should be online. More than that, most organizations should be using highly specialized systems tailor-made to keep all of their data organized. Long gone are the days when you could get away with a spreadsheet or simple doc for storing information. Now, though, you need advanced data collection, storage, and analytics capabilities to keep up with your competitors.