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What is CRM? Briefly Describe The Components of CRM?

CRM stands for customer relationship management, entails all aspects of interaction that a company has with its customers, whether it is sales or services related. CRM system is also used to business relationships. The information tracked in a CRM system includes, contacts clients, contracts, wins and sales leads and more.

The phrase customer relationship management is most commonly used to descried business customer relationship.

Components of CRM:

Some major components of CRM are given under,

  1. Sales Making:

Enhance sales faster spend less time working deals and more time closing them by having all of your sales activates tasks and appointments. In one place small business CRM system with email marketing, automation, sales funnel, contact management etc.


  1. Services:

Supports all facts of your customer services organization. It provides a positive user experience and resolve issue quality with real time. Enhance communication and coordination with service delivery partners.


  1. Relation Management:

Relationship management can be between the organization and its customers and also between business and other business, it focus of the financial and investing industries as a way to identify potential.


  1. Analysis Reporting:

CRM analysis and reporting will be responsible for gathering actionable insights, developing repots. Develop and manage analytical reporting and CRM campaign evaluation for detailed monthly to analysis at all. It also provides detailed insights of the impacts of various to business policy, reporting methodology. It supports all data requirements needed for customer research initiatives.


  1. ERP Finance:

Finance system management is a core module, because financial module in ERP provides financial functionality and analysis reports for different departments and cost centers. The financial module comprises of features.


Benefits of CRM:


  • It provides 360-degree view of all customer information, knowledge of what customers want.


  • CRM helps customers relationships are being managed electronically.


  • CRM system comes directly from having all your business data stored and accessed from signal location.


  • Departments can collaborate very easily