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Crm : Customer Relationship Management

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CRM – CUSTOMER RELATIONSHIP MANAGEMENT

Abstract
Customer Relationship Management, also known as CRM, is a technology system that enhances communication between the user and the potential or existing customer. The system is most commonly used in a company to support sales, information technology, and customer service. CRM assists a company by providing and recording information to better help the company align with their customer service goals. According to B. O’Connell (2001) in “CRM: The New Know-Your-Customer Tool: Customer Relationship Management Software Is Coming,” it gathers and tracks “all client-related information including transactions and email, in-person and phone communications…” (p. 1). Not all information that is collected is used. Companies, such as Fidelity Investments, track incoming calls and periodically review how well the company supported the customer and found a solution to the problem.

TABLE OF CONTENTS
Abstract 2
CRM - An Introduction 4
A Discussion of the CRM and Its Development 6
How CRM is Used Today 6
The CRM Strategy 7
The Impact of Technology on CRM 7
The Benefits of CRM 9
CRM – Business Usage 10
CRM in Business Strategy 11
Implementation, Considerations & Recommendations 12
Conclusion 13
References – Works’ Cited 14

CRM - An Introduction Customer relationship management (CRM) is a hybrid business solution that can increase sales and marketing efficiency. One can think of it as a powerful set of tools, apps, and platforms that
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