Customer Relationship Management is an IT enhanced value process.
CRM identifies, expands, and incorporates a range of competencies of the firm to the customer to provide long-term advanced consumer value. In short, CRM is the progress and maintenance of mutually helpful long-term relationships with strategically significant customers.
The fundamentals of Customer Relationship Management:-
CRM builds value for the customer and the company over the longer term.
Once clients value the customer service, they are less likely to look to alternative suppliers.
CRM enables organizations to gain competitive advantage over opponents.
In Customer Relationship Management, CRM software is used to explain a collection of project software, which conceals a broad set of applications to assist businesses, manage customer data and clients’ interaction, business information, marketing and customer support and also manage employee, retailer and associate relationships.