What is CRM
CRM stands for Customer Relationship Management. It refers to the principles, practices, and technologies that companies use to manage and analyse customer interactions and data.
CRM, an abbreviation for customer relationship management, embodies the core philosophy of fostering and managing customer relationships within a company.
The role of CRM systems
At the heart of CRM lies the CRM system, a sophisticated tool designed to develop, expand, and manage customer relationships. Often utilized by customer service departments, these systems streamline inquiries, enabling representatives to efficiently respond and track each case. By centralizing customer interactions, CRM systems not only enhance customer service but also serve as repositories of valuable data.
Key role of CRM systems
CRM systems categorise inquiries as distinct cases, facilitating systematic resolution by customer service representatives. These systems also accumulate pertinent customer data, offering a comprehensive view that proves invaluable during organisational transitions. The wealth of data stored within a CRM system can be leveraged for analysis, reporting, and strategic decision-making.