CRM or “customer relationship management”, is a software system that employs different technologies to provide support and assistance in the management of a company’s interactions with its clients and customers.
A CRM (Customer Relationship Management) system provides an organization with systematic tracking of every customer interaction be it a phone call, an email, a web form inquiry or even a tweet - and then employs this valuable information to better understand customer and prospect needs.
But CRM does much more than just track customer interactions. It also helps a company streamline its sales operations by automating routine marketing tasks and implementing efficient practices that result in company representatives spending more time directly engaging customers. Dull, monotonous administrative tasks are streamlined thus saving huge amounts of valuable time and effort.
A well planned implementation of a CRM system makes it easier for everyone within a company to work together more effectively as a team when sharing critical customer information and present status.
Ultimately, CRM helps companies to better acquire, manage, serve, and extract valuable information from their customers, while improving operational efficiency. In today's economy, CRMs provide a necessary tool to allow a company to remain competitive and on the cutting edge.