CRM the Data driven software.

 

CRM which stands for “Customer Relationship Management” software and consist of all strategies, tools, techniques, and technologies used by the companies to handle a customer lifecycle efficiently.  It is a tool aimed at helping companies with sales, marketing, and service management. This software collects data from various channels enabling the portal sharing of data sets across the companies to function seamlessly and make optimum use of time.  CRM stores detailed information on overall purchase history, personal info, and even purchasing behavior patterns. As, we know CRM is not a new concept and it has been around for quite some time but now it has become a mainstream in today’s digitize world acquiring crucial importance. Since CRM provides seamless access to Collected data making it easier to work together on various processes and grow productivity and is suitable for businesses of any size. CRM job is to make contact management accessible and easy, enabling company to store and manage information from contacts to lead. CRM helps to find out auxiliary services that company can provide and matches your vision with the client’s demand. Nowadays it has become a modern task management tool for organizations.

How does CRM work?

CRM software is a “Data Driven” Software which is packed with tracking features that track the online interactions of the leads. It automates the routines processes providing the tools for company’s performance and productivity. For instance, CRM software can remind you of tasks that need to be done on time and to do pre-schedule activities efficiently. As everything you do is recorded in CRM, which gives you plenty of time to prepare better plans to close any potential sale. Customer relationship management is all about directing the company’s time and resources towards valuable assets rather than maintaining extant documentation, enabling you to grasp the deal and show the workings of your business to convince a lead.

Difference between On- Premises CRM and Cloud-based CRM:

In an On-premises CRM, company pay for the license beforehand. On-premises CRM is good for those companies which have a strict security policy as the software is located on the company’s server. But in this situation the implementation takes more time and IT resources as the deployment, maintenance and administration become the responsibility of the company itself. Vendor just provide the technical support to deal with the critical issues. On the other hand, Cloud-based CRM is hosted in cloud which means collected data is stored and accessed through the Internet. This software is also known as Software-as-a-Service (SaaS), Online CRM and Web CRM. Here data management and storage are managed by the vendor itself. Cloud-based CRM is scalable, cost effective, secure, needs simple Integration and Installation. Via Internet we can access it anytime and anywhere making it accessible and company needs to pay an affordable monthly or annual fee for cloud-based CRM to the vendor.

Different types of CRM platform are:

• Open-source CRM: It is free as it does not require money to do alternation in the CRM and source code is available to everyone making it accessible without the monetary factor.
• Contact center CRM: Contact center make the CRM more robust to assist the company with the practice of calling up the customers to stay on top of things.
• Social CRM: Social CRM which means interacting and engaging with customers on the social media platforms which enable the companies to understand the pulse of the customer better by knowing that if the customers are going to recommend their products to others or not.
• Mobile CRM: Mobile CRM has become crucial for sales and marketing executives (which are always on move) to access the customer database easily from anywhere and anytime.

 

Who can benefit from CRM?

 

The best thing about CRM is that any department or company unit can benefit from this software. From customer service and sales to recruiting, business development and marketing this software opens a new avenue to manage external relationships. Data storage in one server and recording services are few of the benefits of CRM.

 

 

Source:(https://www.cronj.com/blog/what-does-crm-stand-for/)

(https://www.creatio.com/page/what-is-crm)

 

 

 

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