Generic CRMs like Salesforce.com or Microsoft Dynamics are incredible development platforms that support a variety of industries. With market caps of $91B (NYSE:CRM) and 718B (Nasdaq: MSFT), it’s hard to argue with the kind of success that Salesforce.com and Microsoft have.
Which is why we won’t. Instead we’ll look to some comments at the recent Gartner Symposium/ITxpo in Orlando, where Salesforce’s CEO agrees that disruption by industry-specific CRM providers is necessary and inevitable. The article by Channelnomics, also quotes the Salesforce.com leader as saying “I hope that one day we are [disrupted]. If we weren’t, wouldn’t it be a sad world?”. Needless to say we agree.
For dealmakers like Private Equity firms of all strategies, Investment Banks, Corporate Development teams, and Lenders that day is today. Nearly 50% of DealCloud’s new clients are migrating away from existing systems like Salesforce.com. There is so much market demand that we had to create a tool called the “Generic CRM Liberator” which allows the DealCloud team to extract data out of those systems and into the DealCloud platform.
One of the biggest pain points for customers of generic CRM systems, is that the out-of-the-box setup generally requires extensive configuration, third party tools, and often 3rd party firms to make Salesforce.com into a usable system.
In the same article above, Salesforce’s CEO touts the virtues of working with Salesforce’s integration partners. Commonly known as systems integrators, these 3rd parties are really translators, who take a system like Salesforce and its structure of Accounts, Opportunities, and Leads and try to adapt it to the workflows of M&A or dealmaking. Unfortunately for many firms, these engagements turn into years long cycles of starts and stops, and ultimately implementation failure.
DealCloud is disrupting the notion that dealmakers are limited to systems that will never work for their business, no matter how much time and effort they put in.
DealCloud is disrupting the business model that requires you hire a 3rd party to custom develop basic functionality, leading to never ending implementation cycles.
Need an example? In Salesforce you cannot log a call against more than one company at the same time. If you are a Banker and speak to Sponsors about multiple companies, or you are a Sponsor speaking to Bankers about more than one deal, you cannot log this in a single action. We view this as table stakes, so DealCloud is also disrupting the notion that barely functional is good enough.
Over the last 8 years we’ve helped hundreds of your peers implement DealCloud, liberating them from their existing Generic CRMs.
Welcome to the Disruption.