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Debunking CRM myths to decloud assumptions hovering over the system

2 min read

Inducting a new software system into a company’s work structure is a gargantuan task. A lot of inhibitions and assumptions play spoilsport in your mind about how this new-fangled technological tool will fare and cope up with the work ethics of the company.

The apprehensions get more profound when rumour mongers spew a litany of assumptions that catch unassuming customers off guard and make them feel like they have been duped. Software companies and traditional CRM enterprises sometimes add fuel to this fire to achieve their own shadowy objectives that fail to provide CRM customers with the goals of meeting the specified needs of customers.

These unsolicited rumours sometimes lead to wrong CRM choices that hinder smooth redressals of customer issues, make individual jobs tougher and end up costing a lot more to the company than expected.

With the proliferation of AI and machine learning into CRM systems, a new breed of myths has surfaced riding on the previous CRM beliefs, putting CRM customers in a riddle. So, like a good Samaritan, we did our due at busting the myths that hamper the reputation of good CRM.

  1. CRM is nothing without AI: Artificial Intelligence (AI) is the latest spark in the digital world, aimed to process millions of data at one go and make predictions at unimaginable speeds and more accurately than humanly possible. The immense possibilities AI brings to the table has goaded everyone to hop on to the AI train and CRM systems are no foreign to this trend.

But AI is not the be-all and end-all component of CRM. Truth be told, AI just augments the workflows of a company, adds momentum to the mundane and offers features that enable customer executives to handle customer interactions seamlessly.

  1. Automated bots will kill human interference in customer interactions: This latent fear has been doing the rounds for quite some time that AI will usurp the place of humans in acting as a conduit between customers and the company. Automated bots are mimicking human interactions to solve customer issues without any human intervention, depending on the data fed to them. While this may look dangerous at first sight, the fact that bots will completely replace humans is far from truth.

Humans love person-to-person interaction. A human touch is necessary to understand the root of a problem which isn’t possible with an automated bot. At most, automated bots can only serve to accomplish mundane tasks. But solving customer issues seamlessly need a holistic effort from automated and human components.

  1. CRM acts as the right-hand of managers: This myth has its roots deeply embedded from the time CRM, as software was born. It is to some extent true that CRM served as a tool to keep track of the work efforts of sales reps. Of late, the ambit of CRM has extended far, far beyond the traditional tracking job. Today, CRM serves as the backbone of every company for maintaining customer relationships. CRM ingests data from various sources and provides a range of customer insights that help in decision making and serve customers better.
  2. CRM can face data breaches: Most companies fear to leave precious data at the hands of a CRM. A breach of data can put millions of customer data at a vulnerable risk. However, CRM suppliers ensure that business data is always protected and stored in a secure environment having an uptime of 99%. It helps in accessing the data from any server location. Also, most CRM platforms provide highly secure data fences and sophisticated firewalls, ensuring that business data is never at stake and customer trust and loyalty is maintained throughout.
  3. CRM is for sales reps only: This debate has been on a rage for some years. Today, CRM systems do more than just being a sales tool. CRM culls a massive amount of data from various sources and turns them into insights that can be translated into actions. These insights help customer executives understand the pain-points of customers better, analyse their needs to the hilt and provide solutions that instil faith in their business. CRM automates pesky processes and ensures streamlined communications with customers across various channels.

Phew!! The myths are debunked and dumped in the trash can. From the fear of data being usurped by a ravenous AI to the fact that CRM is only biased towards sales, the lid is busted that have fuelled CRM myths for long. With good research and attention to detail, you will have some great CRM tools that will provide great customer experience and take your business to greater heights.

Sumit Mondal Content Analyst at Square Yards.
Sumit Mondal Content Analyst at Square Yards.

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Square Yards is the leading platform for home buyers across 10 countries. Our cutting-edge technology empowers consumers with credible data, inspiration and knowledge, while connecting them with in-house experts who hand hold them from the start of their home search till property handover.

We serve the full lifecycle of owning and living in a home: research, due diligence, selling, financing and more. It begins with Square Yards’ deep relationship with over 500 top developers and our home loan company Square Capital’s partnership with over 90 banks and NBFCs. A team of 2,800 experts power our award-winning services which have delighted more than 35,000 customers already.

Square Yards started its journey in 2014 and is headquartered in Gurugram, India.

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