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CRM software market grows at brisk pace

The market for Hungary's five largest suppliers of Customer Relations Management (CRM) software is worth approximately Ft 600 million (€2.33 million) and growing so fast that market leader Oracle projects turnover in this domain to reach a minimum of Ft 1 billion in three years' time, Gábor Major, head of Oracle Hungary Kft's applications division, said at a press conference in Budapest on Monday.

Major said sales of CRM software now make up 10% of Oracle's global sales, with a similar figure for domestic sales. Major added that since the growth of Hungarian companies has become increasingly contingent upon the efficiency of their CRM systems, whose basic software many have already installed, it is estimated the regional CRM market will grow 50% annually in the coming 3-4 years, with 100% growth possible in Hungary.
Oracle offers its CRM-software system to companies with annual sales of Ft 10 billion or more. There are more than 1,000 CRM service providers in Hungary.