Customer Relationship Management Assignment Example | Topics and Well Written Essays - 1750 words

Customer Relationship Management - Assignment Example The CRM is fully featured software with an architecture that encompasses the features of â€Å"Customer Service, Sales Management, and Marketing Automation† (Tomkinson, pp. 10-12, 2007). The CRM solution has many advantages and limitations with it. The software diminishes and decrease the cost of ownership but the difficult user interface becomes a challenge associated to it. Since the CRM solution provides a wide range of benefits to the organizations and efficient output come under generation, therefore, organizations tend to implement CRM as it provides one platform to maintain the database and integrate the business processes. Numerous organizations from the world have implemented the CRM software and are getting benefit from it. Table of Contents Abstract 2 Introduction to Customer Relationship Management (CRM) 4 CRM Architecture 6 CRM and Contact Management 8 Benefits of CRM 8 Limitations of CRM 9 Why does an organization require CRM? 10 Consequences of CRM in adopting C RM technology 10 Conclusion & Recommendations 11 References 13 Introduction to Customer Relationship Management (CRM) The world today is shrinking with the emergence of the concept of globalization and the businesses and customers are in correlation to each other on a global platform. Therefore, it has become essential and indispensable for any organization to maintain their customer related information, sales records, statistics and forecast, and their marketing techniques on a distinct and single platform or database where all the information come under integration to each other. Customer Relationship Management (CRM) is one of the approach or program that comes into practice by an organization on a broad perspective in order to administer, operate, and handle the communication and dealings of the enterprise with its consumers and prospects (Buttle, pp. 3-4, 2008). Some people also view CRM as a company strategy whose focal point is its customers and their contentment and complace ncy is of top priority for the organization along with the prime goals and objectives of augmenting the earnings, productivity, prosperity, and success. The history of CRM reveals the information that it is not an old concept; rather it has emerged in the middle of the last century and acquired acceptance, awareness and popularity with the development and advancements in technological marketing software. The twenty first century gave boost to the Customer Relationship Management software and IT dealers made the wide utilization of this software and launched their customized systems as CRM (Vogt, pp. 2-4, 2009). The application of CRM comes under exercise and practice with the use of technology to systematize, standardize, automate, synchronize, integrate and amalgamate the business processes and functions that embrace the customer support and services, sales exercise and marketing of products. In a broad-spectrum, the CRM has been designed with a perspective and vision to search for new prospects, influence or catch their attention through the marketing techniques and convert the prospects into customers, along with fostering, persuading and providing support to the existing clients of the organization in order to sustain them as well (Ed., pp. 6-7, 2008). CRM focuses on evaluating, assessing, signification, and prioritizing the association its customers while putting this course of action into practice. CRM program come under design in such a way that it has all the tools and techniques available that maintains the customer information in detail since