Customer relationship management (CRM), or a CRM System, is a combination of strategies, processes, guidelines, and technologies that businesses use to manage interactions with current and potential customers. CRM helps businesses to streamline processes, build stronger customer relationships, increase sales, and improve customer relationships.
Businesses will typically use customer relationship management tools to gather customer interactions and customer data from across all channels in one place. This centralization helps businesses to improve customer experience, satisfaction, retention, and overall service. CRM also helps to streamline sales, marketing efforts, accounting, and management for fast-growing companies. Multiple people can access and edit information held in a CRM tool or platform, which also makes it ideal for collaboration.