CRM is an integrated approach to identifying, acquiring, and retaining customers. By enabling organizations to manage and coordinate customer interactions across multiple channels, departments, lines of business, and geographies, CRM helps organizations maximise the value of every customer interaction and drive superior corporate performance.
The benefits of CRM are clear: By streamlining processes and providing sales, marketing, and service personnel with better, more complete customer information, CRM enables organizations to establish more profitable customer relationships and reduce operating costs.
CRM should help companies achieve business objectives through the effective use of limited resources. However, to successfully deliver on this promise, the definition of CRM needs to be broadened. In the past, the notion of Customer Relationship Management has been limited to the set of applications that help companies capitalise on relationships with their customers, employees and partners.