What Is Customer Relationship Management?

Submitted By garth050
Words: 1992
Pages: 8


Today in the business realm, top organisations are presented with a new direction which could be deemed a customer centric one. Since slowly implementing the sales, marketing and production philosophy there is now a requirement to invest in creating and maintaining lasting relations with clientele focusing on exceptional service and satisfaction. (Bose, 2002)
Information technology offers organisations systems which will aid those businesses to monitor clientele relations and permit the businesses employees to recover specific details about clientele. The model is known as customer relationship management. With this system, if implemented appropriately, will improve an organisations capability to attain the definitive objective; retain clientele and therefore hold competitive advantage over one’s rivals. (Newby et al, 2007)
Nearly all superior businesses globally depend on expert CRM software systems in order to collect and examine clientele interactions. Relations between organisations and clientele will be extremely enhanced through implementing information technology. (Karimi et al, 2001). Information Technology will assist and improve every client’s transactions in assorted ways, but chiefly it facilitates businesses to achieve customization which is the core of client-centric direction, using refined customer relationship management systems. (Dewhurst et al, 1999)

Customer Relationship Management
The acronym CRM is used to abbreviate the term Customer Relationship Management. Numerous technological components make up CRM; however visioning CRM in a purely technological way is an error. A much more suitable approach is to think of this system as a procedure that will assist in gathering vast amounts of particulars about clientele, selling, marketing efficiency, and receptiveness as well as trends of the market. (http://crmtutorial.com)
Three central factors equal a triumphant customer relationship management enterprise, they are; technology, people and process. Firstly, the individuals all the way through an organisation from top management to those who deal with the customers must believe in customer relationship management. An organisations business procedures need to be reengineered in order to reinforce the customer relationship management enterprise, usually from the point of view: How will this procedure supply the consumer better? Clearly the business needs to choose top technology to shift the enhanced development, supply premium data to staff as well as be straight-forward enough to maneuver. The danger lies when one of these central factors is not sound then the whole customer relationship management formation will collapse. (www.destinationcrm.com)
If one envisages literally the ‘heart’ of company success being quality clientele relations, then customer relationship management is a regulator that pushes the businesses ‘blood’ around. As such, customer relationship management is most suitable assisting companies utilise people, processes, and technology achieve insight into the activities and significance of clientele. This insight permits enhanced targeting and summary of clientele, superior customer service, improved call center competence, smooth sales and marketing procedures, additional cross and up sell prospects, lower expenses, and increased profitability. (www.destinationcrm.com)

Customer Relationship Management Benefits
Executing customer relationship management systems may entail substantial time and expenditure. Nevertheless there are vast benefits to be reaped: ❖ Shared Information or Data
Businesses will understand that relationships with clientele are carried out on various levels other than just via the website and customer service. The need to distribute all information right though the company will be realized as a customer relationship management system allows one to make educated decisions and report on various levels.