What is CRM?

Regardless of size, every company engages in customer relationship management (CRM). When a company builds a customer list, tracks interactions with customers, designates activities to close business, or handles a customer problem, they are undertaking CRM-related activities. Customer Relationship Management systems standardize, automate and share these activities across the organization to improve these existing processes.

CRM applications address four major functional areas. A CRM application integrates this information so companies have a complete view across these various activities.

• Marketing - Manage customer lists, identify prospects, create marketing campaigns, track success rates, capture leads for sales follow-up.
• Sales - Identify leads, manage sales opportunities and accounts, present product and quote information, forecast quota attainment.
• Customer Support - Handle customer cases, manage customer incidents, escalate customer issues.
• Collaboration - Manage activities and projects, share customer and product information, access third-party content.