Blockchain and SuiteCRM: What it means!

You wouldn’t be the first to think Blockchains start and end with cryptocurrencies. That’s the general consensus when anyone mentions the word Blockchain. Bitcoins have effectively changed the general perception of the word Blockchain, but the concept itself is very diverse and can be replicated in a number of business processes and business platforms. But before we dive into that. Let’s take a look at what a Blockchain really is, apart from being the central cog in all these cryptocurrencies.

A blockchain is at its core, a chain of blocks that contain data, this data can be of any nature and is often that of high priority. Each block holds this data with blocks preceding it and following it also containing the same data. These blocks in the Blockchain can only be accessed through certain network keys and this structure of interlinked chain of events ensures that there is no unauthorized entry.

So now you have a good understanding of what a Blockchain is, and probably also get the idea that its a perfect fit for high priority data. The fact that most of the CRM platforms these days are cloud based make for an interesting argument and raises questions on their security protocols. Integrating Blockchain and SuiteCRM can help with a number of things along with removing the possibility of any data violation and theft. So let’s take a look at what a combination of Blockchain and SuiteCRM could mean for your business.

Improved Security in SuiteCRM

Let’s get the obvious ones out of the way first. By using Blockchain in SuiteCRM, businesses can effectively forget about any data privacy issues in existence. The reason for such a definitive statement is the fact that a Blockchain is simply impossible to access without the authorized network keys. These network keys are distributed in a decentralized manner in a peer-to-peer network, meaning even if one network key is compromised, the fact that it is synced with the other network keys will raise alarm bells and effectively halt any attempt at deceit.

More Transparency

The decentralized nature of the Blockchain network ensures that your business can promptly deal with clients without having to rely on any third party organization. This direct correspondence ensures that nothing but the business itself is in contact with the customer. This results in an improved efficiency and productivity in all of your dealings with your clients. Blockchains also ensure no personal information is ever compromised. The removal of these third party organizations as well as the secure nature of its network ensure complete transparency as far as your business is concerned.

Proper Data Management

The age old problem users have had with CRM platforms is the duplication and inaccuracy in data. This often results in substandard data management and analytical analysis. But with Blockchain, all these issues can be solved. Businesses can use Blockchains to put each customer data on a seperate block, this block will include the customer’s data, past transactions and other relevant information. Since this information will be placed in the Blockchain, there will be no issue of data inaccuracies.

Key Takeaway!

There’s no telling when SuiteCRM or any other CRM platform adopts Blockchain but the fact of the matter is that it will happen sooner or later. Blockchain will impact and possibly redefine how we use SuiteCRM and other CRM platforms, all for the better. It still remains to be seen how this technology will change CRM as the concept itself has yet to cement itself as a primary platform. But we do know for sure that Blockchain and SuiteCRM means good things for all SuiteCRM users.

Get in touch if you’re looking for a SuiteCRM Customization, Integration, or Support. RT Dynamic is a SuiteCRM Official Partner.Get in touch for a free Consultation Session to analyze your business needs and find the perfect SuiteCRM for your business.