The generally accepted purpose of Customer Relationship Management (CRM) is to enable organizations to better serve its customers through the introduction of reliable processes and procedures for interaction with them. A successful CRM strategy is usually implemented through a software package designed to support these processes.
Major areas of CRM focus are service automated processes, personal information gathering and processing, and self-service. It attempts to integrate and automate the whole range of customer serving process within a company. It typically involves three general areas of business – the Customer service system, Marketing information system and Sales forces management system.
The marketing information part provides intelligence about the business environment, including competitors, industry trends and macro environmental variables. The sales force management functions. It also keeps track of customer preferences, buying habits and demographics, and also sales staff performance. The customer service part automates service requests, complaints, product returns and information requests. Integrated CRM software is often known as “front office solutions”. This is because they really directly with the customer.
CRM involves the following area of business:
- Sales Force Automation
- Order Management
- Centralized Customer Records
- Overseeing manufacturing tasks;
- Global Sales Management
- Marketing Automation
- Renewals Management
- Commission Managemen
- Sales Forecasting
- Sales to Finance/Fulfilment Integration