Customer Relationship Management

It includes the strategies, methodologies, software and web based capabilities that help an enterprise organize and manage customer relationships. It refers to the collection and distribution of all data to all areas of the business.

The main purpose of CRM is to enable organizations to better manage their customers through the introduction of reliable systems, procedures and processes for interacting with those customers.

A successful CRM strategy cannot be implemented by merely installing and integrating a software package which has been designed for supporting CRM processes. A holistic approach to CRM is required for an effective and efficient CRM policy. The approach includes employee training, adoption of relevant IT systems, modification of business processes based on customer?s need and adoption of relevant IT systems.

This term is meant to describe the whole business strategy oriented on customer needs. It is misunderstood to be software instead of whole business strategy. In order to be effective, the process should be integrated end to end across marketing, customer service and sales.