CUSTOMER RELATIONSHIP MANAGEMENT (CRM)

CRM is a term for software solutions that help businesses manage customer relationships in an organized way. An example of a CRM would be a database of detailed customer information that management and salespeople can reference. This database generally includes information regarding customers' purchases, which can be used to do things such as match customer needs with products, inform customers of service requirements, and analyze customer buying behavior.

A successful CRM strategy does not depend only on installing and integrating a software package designed to support CRM processes. The organization must also train employees, modify business processes to match customers' needs, and implement relevant IT systems such as a CRM module in an ERP system.