Saturday, December 19, 2009

Defining CRM

Customer Relationship Management, also known as CRM, has been around for quite some time. It all started back several years ago when someone decided that combining both Sales & Marketing with Service & Support, would be a great idea, and it was. According to many accounts, Tom Siebel is the mastermind behind CRM. He extensively developed and marketed CRM until it became a well used "tool of the trade" so to speak.

Another related industry application, Sales Force Automation (SFA), is one of the earliest players in the CRM field, as is customer support. SFA is used to support the sales process of a company or organization, and it offers Lead Management, Opportunity Management, Account & Contact Management, Sales Pipeline Management, Sales Forecasting, Sales Analytics, as well as many other features, depending on the application.

Corporations have learned that by utilizing technology in their day to day processes, they can automate virtually their entire sales force teams and save countless hours that would otherwise be wasted. CRM and SFA are becoming more popular with time, and even Microsoft has expanded to include CRM in their list of many bells and whistles. CRM includes all aspects of interaction a company has with its customer, whether it be sales or service related.

It is certain, new technology has changed the way businesses and organizations approach their CRM strategy, and this has paved the way for new trends and customer growth. Businesses are able to customize their customers' experiences and therefore grow at a steady rate. CRM is a vital part of any business plan, and the technology just keeps getting better.

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