CRM systems automate and manage the relationship between the organization and its product or service offerings, and current and potential customers.
CRM compiles data from multiple communication channels with the goal of enhancing knowledge about their customers and how to meet their needs and fulfil them. CRM can be characterized into the following components:
- Sales force automation and optimization
- Marketing automation
- Service automation
CRM systems also provide analytic capabilities against customer behavior data and prescribe appropriate marketing responses. Another objective of CRM is the incorporation of external data from suppliers, vendors, and carriers to collect data for technical support ...