Deciding on a Forex CRM: Is it the right time to upgrade?

Deciding on a Forex CRM: Is it the right time to upgrade?

Forex CRMs are integral parts of any Forex Brokerage these days. However, they can also be a major concern for your sales team if the CRMs are rigid and not upgradable from time to time. Many brokers have felt helplessness when their CRMs were not flexible enough to acquire the desired upgrades. We understand that the Forex CRM is a vital part of your business, but ultimately, it is just software or technology that you have hired from a provider. You don't have to settle for the same outdated software for years. If you find other vendors who provide similar CRM with better features, more efficient support, and pocket-friendly prices, you can definitely consider changing or upgrading.

Here are some factors that can determine whether it's time to change or upgrade your Forex CRM:

Cost:

The primary reason to consider changing or upgrading to a new Forex CRM is the pricing. If you can find another CRM with more advanced features at the same price as yours, it's time to migrate. Additionally, if you have decided to upgrade, you can explore options in the market that offer the specific features you truly need for your system, rather than paying for functionality that your team would never use. It's important to make wise decisions when it comes to paying high costs for a new CRM.

Using an outdated CRM that doesn't meet your requirements:

You might currently be using a CRM that was developed years ago, and it may now seem like ancient software that is no longer useful for your business. Nowadays, there are many high-tech software options available in the market that perfectly match your requirements. In such cases, you can certainly consider making a change. Most of the new CRMs, including our Cloud Forex CRM, continuously upgrade their features and functionalities and provide regular release updates once you have purchased the software.

After-sales support is not worthwhile:

Another reason brokers may not be happy with their current CRM is poor customer support from the solution provider. If you don't have the facility to stay in touch with the support team whenever you need assistance, it's definitely time for you to consider making a change

Software has bugs:

After deploying the CRM from the service provider, there's a chance you may encounter a few bugs that can be fixed at a later stage. However, if you continuously encounter bugs and the service provider doesn't provide regular updates despite your frequent requests, your situation is alarming. It's high time to consider switching to another software where the team is enthusiastic about promptly identifying and correcting bugs. A stable system will be more reliable and cost-effective as well.

More downtime required by the service provider:

If your system frequently experiences failures and the service provider requires significant downtime each time, resulting in substantial financial costs for you, then the situation is unfavorable. When your CRM crashes, it is likely to bring your entire business to a halt, creating an urgent need for CRM change. This time, it is crucial to thoroughly examine the most stable CRMs available in the market, which have been tested by experts and compared to other available options. Opting for a system with significantly reduced downtime would be the best choice, as it will not only save you money but also ensure uninterrupted operations.

Security standards have changed:

There may come a time when changing the CRM becomes a better option than upgrading, especially when it comes to security standards. If your current supplier fails to meet your updated security standards, it's necessary to explore the market for better alternatives. Additionally, if your organization's requirements or roles have changed, there may be a need to change the software as well.

So, if you also feel that your Forex CRM is outdated and you need to migrate to a new and improved one, please contact the Cloud Forex CRM team. Our experts can provide you with information on how we can create a modular, customized, and cost-effective solution that perfectly suits your needs. Just visit www.cloudforexcrm.com or WhatsApp

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