What does CRM Stand for?

Definition and Meaning

CRM Stand for “Customer Relationship Management” – also called CRM or CRM software. CRM Software is used to enhance, automate and integrate the whole business processes like production, operation, sales, marketing and Finance with each other. The ultimate Goal of using CRM system in an organization is to increase or maximize the lifetime value of each customer so that firm can get profits. By definition, CRM refers to the practice of collecting, storing and analyzing every customer information and using them in the decision-making process of an organization.

Customer Relationship Management(CRM) system or CRM Software is used to track and manage all customers interaction. There are different types of CRM software that are available in the market, based on required CRM features an organization can purchase CRM product. Some of them are

  • Salesforce CRM
  • Nimble
  • Workbooks.com
  • PipelineDeals
  • Zoho CRM
  • Microsoft Dynamics CRM
  • Salesnet
  • Contactually
  • SugarCRM
  • NetSuite CRM
  • HubSpot CRM and many more

What are the features of CRM Software?

CRM Software provides many features for a business some of them are

  • Marketing Automation
  • Salesforce Automation
  • Contact Center Automation
  • Geolocation technology-based services
  • Contact, lead, Opportunity Management
  • It will provide reports and Dashboard feature
  • Sales Analytics and Sales data
  • Email Client Integration and Chat Integration
  • Support Automation
  • API Access, SQL based reporting access
  • Email, Social Media Integration etc

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