Even though CRM means Customer relationship management, there is more to this system than the name suggests. There are many functions that are connected to it. The central goal of CRM is to improve the relationship that a company has with its customers and the goal of doing this is to increase profits and become more competitive.
It is also important for a company to set specific goals and strategies they can use to achieve them. Once this has been done, they can look for a CRM product that can suit these goals. For example, if the goal of the company is to improve its customer support service, they will naturally want to purchase a program that is capable of helping them meet this need.
While it is expected that a company will have to customize the product to a certain degree once they've purchased it, too much customization can be time consuming, and it can also be expensive.
CRM system involves multiple functions. Although its functions can vary widely with software vendors, most CRM software has a core set of functions starting with the tracking of leads and ending with monitoring the service rendered to customers. Some of them are as listed below: