Damien,
One of the nice advantages of CRM Online vs CRM OnPremise is there is no 'notion' of an external license connector required as there is for CRM On Premise.
If you look in the licensing guide - crmdynamics.blob.core.windows.net/.../Pricing_Licensing_Guide.pdf
Or read the details below. Be sure to note that the EC does not allow access to CRM via the IE Interface or via the CRM Outlook Client.
Your 20+ clients won't have to buy licenses but they will only be able to access the CRM system via the API through a custom interface.
EXTERNAL CONNECTORS
The Microsoft Dynamics CRM 2011 External Connector enables customers to extend Microsoft Dynamics CRM to their external users such as customers, partners, suppliers, and end users who access a copy of the server software (for which a license was acquired), through any application/graphical user interface (GUI), other than the Microsoft Dynamics CRM client. “External Users” are users who are not either (i) your or your affiliates’ employees, or (ii) your or your affiliates’ onsite contractors or agents, External users also does not include hosted-software service users, such as those already licensing via the Microsoft Service Provider License (SPLA).
An External Connector must be purchased for each server that permits access to Dynamics CRM 2011 server software by external users. External users should not be using the Microsoft Dynamics CRM 2011 applications & GUIs directly. The alternative is for every external user to acquire a CAL
For the Microsoft Dynamics CRM Server 2011, there is one External Connector functionality:
External Connector – The External Connector provides external users with limited API access and limited read-write access to Microsoft Dynamics CRM 2011 data, such as that provided through any
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MICROSOFT DYNAMICS CRM 2011 & MICROSOFT DYNAMICS ONLINE PRICING & LICENSING GUIDE – DECEMBER 2012
application/graphical user interface. The External Connector SKU will appear on price lists as the DynCRMExtConn.
The use rights supported for External Connector include:
Read access to “Microsoft Dynamics CRM functionality”.
Data privileges to create Standard and Custom entity records.
Data privileges to append, append to, and update Standard and Custom entity records created by any CRM user.
Data privileges to assign, share, or delete records created by the same CRM user.
Data privileges to follow and post activity feeds against Accounts, Contacts, Leads, and Custom entity records created by any CRM user.
Access to CRM server software and “Microsoft Dynamics CRM functionality” through any application/graphical user interface (GUI), other than the Microsoft Dynamics CRM client.