Customer Relationship Management (CRM) is a software application that is used by the user to keep a track of the needs and behaviors of various customers so as to develop stronger relationships. The user can use the CRM to track and organize contacts with current and prospective customers. The CRM software is used to store information about customers and make them accessible to various departments for collection and analysis. There are several types of CRM modules available for use by users including Operational CRM, Web based Analytical CRM, Sales Intelligence CRM, Campaign Management CRM, Collaborative/ Partnership CRM and Consumer Relationship CRM.
Customer Relationship Management (CRM) is ideally suited to be used by users for streamlining the business processes, increase profitability, generate better customer responses, enhance the customer satisfaction and increase returns on investments made to deploy CRM modules, as well as leverage the use of advanced technologies such as web 2.0 to enhance customer satisfaction. The CRM modules are a complex mix of multiple silos of information and software tied together in a single interface that ultimately reduces cost.