CRM system vs. Stakeholder Engagement: What’s the Difference?

Share on facebook
Share on twitter
Share on google
Share on linkedin

The extractive industry is facing a major challenge when it comes to managing the social and environmental impacts of its projects. Mining, oil and gas companies have to take into account every stakeholder to ensure that they are all satisfied throughout the various steps of their projects. A good number of decision makers are wondering about the difference between a Stakeholder Engagement system and CRM system. A good understanding of the differences between the two systems is crucial to properly answer the particular needs of company in the extractive sector.

Different objectives

The customer relation management system (CRM) and the Stakeholder Engagement system are two distinct entities that are used with very different objectives.  While the CRM is a practical tool for storing sales related information such as leads, contacts and opportunities, it is mainly concerned with large numbers of customers in a relatively stable relationship environment such as sales or support process. Unlike CRM systems, the objective of a Stakeholder Engagement management system is not about sales data entry but rather, it provides a thorough understanding of the various stakeholders and their impact on the project.

Dedicated to social responsibility and environmental performance

The Boréalis Software is specifically designed to provide an accurate portrait of stakeholders and the various related concerns. The objective of a Stakeholder Engagement system is to help users react and adjust to concerns, or improve relationship based on accurate information.  Each module in the Boréalis Suite provides emphasis for the management of a specific aspect of stakeholder relations such as social investment, local employment, local business development, land management, and land access, environmental monitoring, biodiversity and compliance management.

Based on CSR Best Practices

Our solution is constantly evolving to be continually aligned with international standards, guidelines and best practices. These include GRI, IFC, ICMM, IPIECA, E3+, etc. The extractive industry has particular needs and Boréalis offers a solution that complies with these needs and takes into account the more granular aspects of the industry. Knowing that stakeholders put great emphasis on corporate social responsibility, it is imperative to know their expectation and address them as accurately as possible.

Wider range of functionalities

While stakeholder management often requires the development of specific functionalities, a CRM is not usually as flexible. Functionalities developed for Stakeholder Engagement system include stakeholder mapping, GIS integration and issues and commitment management. With these more granular functions, the Stakeholder Engagement System is better equipped to ensure proper interaction and follow up with stakeholders. The Boréalis Software also includes grievance management with an embedded process that follows IFC performance Standards and Ruggie principles.

The Boréalis solution helps companies move from a reactive to a proactive approach to their projects. It does so by providing the necessary tools to continually analyze the business environment to prevent issues from occurring and to respond to contention before they transform into grievances. The Boréalis solution is vastly different from a CRM system and it is imperative to choose the right system to adequately meet the challenges of the extractive sector.

About Boréalis

Boréalis online stakeholder engagement software is used by organizations around the world to successfully engage stakeholders and secure social license to operate in a wide range of industry sectors. To request a free custom demo of our software, contact us.

Get started with Boréalis for your Stakeholder engagement software today!