CRM Software

CRM is an acronym that stands for customer relationship management. This software is used by various companies in order to track interactions with customers, clients and sales prospects. It involves technology that has the functionality to organize, automate, and synchronize business processes—mainly in sales activities, but also for marketing, customer service, and technical support.

The overall goals are to find and gain new clients, keep those clients the company already has, rein in former clients back into the company, and reduce the costs of marketing and client service.

CRM Software offers multiple benefits to a company including an increase in quality and efficiency, a decrease in overall costs, improved collaboration, improved customer satisfaction, and an increase in sales, service and marketing performance.

Customer relationship management (CRM) software spending is likely to see the largest increase of all the application software markets in 2011, according to Gartner, an independent research firm.

About 31 percent of respondents that participated in this Gartner (News - Alert) survey expect an increase in application software spending in 2011, the report called “User Survey Analysis: Application Software Spending, 2010-2011” said.

Comparing their 2011 fiscal budgets with 2010, 42 percent said that they expect to increase spending on CRM in 2011, compared to 39 percent on office suites and 36 percent on enterprise resource planning (ERP), which ranked second and third.

CRM Software can be used all different sized companies ranging from small to huge enterprises, and can help businesses to excel in multiple ways.