The Basics Of CRM

A brief introduction to Customer Relationship Management

What is CRM ?

CRM (Customer Relationship Management) are the concepts used by organizations to manage their relationships with customers. This includes

• Capturing Leads• Storage and analysis of the customers,

vendors and partners• Internal information (organizational)

CRM Ecosystem

Coined in by META group CRM has 3 aspects

• Operational• Collaborative• Analytical

Operational AspectOperational aspect of CRM is automation to Customer’s processes including front office sales / service and marketing representative.Any customer interaction is recorded by CRM, so that any one can retrieve the customer information at anytime without having to interfere about interaction history

Collaborative Aspect

Direct interaction with customers without interference of sales representative. Cost reduction and better customer services through automated voice response, email feedbacks, SMS, IVR etc.

Analytical Aspect

Analysis of Customer Data for purposes like optimizing marketing effectiveness, customer retention, behavioral analysis, decision making

Key Features of CRM

A Typical CRM consists of 3 Sub Modules:• Marketing• Sales• Services

Key Features of CRM

A Typical CRM consists of 3 Sub Modules:Marketing, Sales And Services

Main Share in Market

According to Gartner a 2005 study shows earnings like• SAP – 1475 million US$• Siebel – 966 million US$• Oracle – 368 million US$• Salesforce – 281 million US$• amdocs – 276 million US$• Others – 2,333 million US$

CRM NowWith increasing popularity of Open Source vendors have started openly marketing CRM. Some Open source CRM’s to note are:• Sugar CRM http://www.sugarcrm.com/crm/

• XRMS http://xrms.sourceforge.net/pagebuilder.php?s1=18

• Vtiger http://www.vtiger.com

• OpenCRX http://www.opencrx.org/

Top CRM Companies

Siebel, Amdocs, PeopleSoft, Oracle, SAP, EDS, Avaya, Baan, Aspect, E.piphany, Pivotal, Kana, eGain, Primus, Quintus, Trilogy, Motive, Brightware, Annuncio

At The End

Choosing the right CRM helps Client interaction and understanding efficient initiating process of better service and customer retention.

ThanksAmal Krishna Biswas

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