Customer Relationship Management
Customer relationship management (CRM) consists of the processes a company uses to track and organize its contacts with its current and prospective customers.
Customer relationship management software is used to support these processes; information about customers and customer interactions can be entered, stored and accessed by employees in different company departments. Typical customer relationship management goals are to improve services provided to customers, and to use customer contact information for targeted marketing.
While the term customer relationship management generally refers to a software-based approach to handling customer relationships, most customer relationship management software vendors stress that a successful customer relationship management effort requires a holistic approach. Customer relationship management initiatives often fail because implementation was limited to software installation, without providing the context, support and understanding for employees to learn, and take full advantage of the information systems.
Source: Wikipedia
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