Customer Relationship Management (CRM) is an important tool that allows businesses to communicate with and serve the requirement of their clientele. The objective of CRM is to engage customers and create good relationships with them, offering lasting dialogues that improve your understanding of the customer base and improve their loyalty to your business' services.
CRM systems can track and measure the performance of marketing campaigns and do customer analysis. CRMs are also expanding beyond the core sales and marketing areas to incorporate support and finance data that provides an entire view of individual customers and the wider customer base. Apart from this, to developing and maintaining client relationships, CRM systems have three powerful functions in sales force automation, data warehousing and opportunity management in a company/ business. Sales force automation is use for implement sales analysis, automate tracking of client account histories, and coordinate sales, marketing, call centers, retail outlets and so on. Data warehousing allows users to aggregate transaction information, follow trends and determine value and KPI by merging the CRM system with existing information data storage systems. Opportunity management helps companies manage unpredictable growth and demand through a forecasting model that integrates sales history with sales projections.