The release of the GoldMine contact management solution introduced the world to a brand new way of managing information. GoldMine contact management software was one of the first customer relationship management (CRM) solutions to combine email management, customer record–keeping, and sales process tracking into a single application. The world has undergone major changes since GoldMine CRM software was first released, however. As business has become more global and mobile, former GoldMine users are beginning to switch to CRM programs like Prophet. This new generation of cloud–based CRM providers gives business owners instant access to information that web–based solutions like GoldMine don’t offer.
About GoldMine Software
Although the CRM landscape has many major players, GoldMine established itself as the first and longest–lasting competitor in the market. The GoldMine CRM software was developed in 1989 by two computer science students at California State University, Northridge. Jon Ferrara and Elan Sasser envisioned a software that would streamline processes like managing contacts, calendars, and email. While many applications already provided these services, they hoped to innovate by consolidating all of them into a single software platform.
What was even more revolutionary, however, was the idea that sales staff and management would be able to access this suite of services from any computer connected to a central server. Unlike previous sales management software systems, which stored customer data only on a specific computer, GoldMine was installed on each computer and linked via an onsite server. Many businesses considered this a huge selling point, as it allowed them to access and share information easier and in real time. In 1990, Ferrara and Sasser officially launched this software as GoldMine 1.0, and the CRM industry was born.
The innovation of GoldMine caught the imagination of the corporate world. The company received over 60 industry awards by 2000, and formed major contracts with companies like Hewlett–Packard, Bank of America, and Toshiba. They relocated their office headquarters to Pacific Palisades, and had annual revenues of almost $25 million. In the midst of their success, the South African technology company iXchange purchased GoldMine for approximately $83 million. iXchange was renamed FrontRange Solutions in 2000, and continues to develop GoldMine under that name.
As the CRM market changed over the next decade, GoldMine maintained its strength in the market. By 2012, the CRM industry had expanded, seeing both the rise and fall of younger, less experienced software companies. GoldMine remained stable throughout these changes, even though the company was purchased by a private equity firm called Francisco Partners. To set themselves apart and stay competitive, GoldMine continued to develop new features, such as FrontOffice, GoldMine Mobile Edition, and integrations with accounting software giant Quickbooks.
3 Reasons to Try Prophet over GoldMine CRM
Although GoldMine was a pioneer of the CRM boom, many former clients are turning to Prophet as a flexible CRM solution. Over the last two decades, the software landscape has changed dramatically. As more companies take their business global, they increasingly rely on mobile access and cloud–based solutions. Some research suggests that the population of people using the internet for business has increased from .4% in 1995 to over 40% as of March 2014. Businesses have adapted to this change by replacing the older GoldMine system with other solutions, including Prophet, whose cloud–based Outlook integration offers immense freedom and worldwide access.
Here are some primary reasons why new businesses choose Prophet over GoldMine, and why established organizations make the switch.
1. Support and Upgrades
GoldMine is one of the oldest CRM products. Although this gives GoldMine stability and familiarity, its age puts it in danger of becoming obsolete. Its upgrades and support systems make this abundantly clear. When users complete a Prophet–GoldMine comparison, many notice that GoldMine doesn’t provide the consistent updates that Prophet does. For example, while both products claim to be fully integrated with Outlook, GoldMine has not yet released a Microsoft Outlook 10 update. Prophet, on the other hand, has released several updates to make the Outlook applications run as smoothly as possible.
Since GoldMine works under a contact–centric paradigm, contacts cannot be grouped together. In a Prophet and GoldMine comparison, Prophet stands out because it allows users to group their contacts by company, or filter them by type using special fields. This eliminates the biggest complaint that many former GoldMine users have: the software slows to a crawl when looking for contacts. The grouping function of Prophet also makes the data entry process much faster than its competitor, as company information is automatically populated. With so many functions automated or sped up, sales professionals spend less time on data entry and more time on selling.
3. Web–Based vs. Cloud–Based
Although a web–based solution was incredibly innovative in the late 80’s and 90’s, faster methods have come about in the last few decades, and web–based platforms have declined. In a web–based platform like GoldMine, data is uploaded from a local server to an online server several times throughout the day. The information can potentially be duplicated or changed before the next update, leading to occasional miscommunications, or disparate updates being made by different departments. In a cloud–based solution, all information is house in on online file, with various off site servers to back up the information. This gives your business accurate, secure information in real time, which can be retrieved from any number of locations around the world.