Customer Relationship Management System (CRM)
The Customer relationship management (CRM) is about the management of the clientele, their records and their relation and to use this data to further develop the customer relation policies and management decisions.
Basically the CRM is the integration of people, technology and the business process in the quest to protect the existing clientele and provide the pragmatic opportunities to further enhance the circle of satisfied and loyal customers. The CRM is the catalyst that provides useful help about the customer and the business dimensions that is defined by the customer reviews and satisfactions. This useful information provides highly useful insight about the customer and their behaviors. (Destinationcrm, 2010)
CRM, the inevitable tool for today’s business, is a concept that first arrived during the period of 1990s by promulgating the idea that the customer is the base and no business can be sustained not to speak of its expansion and further development. The key idea behind CRM is that no customer, no business. In the initial time period, the CRM technology and tools was complex and costly but because of the arrival of dot.com arena and the increasing rivalry among the industry giants such as Oracle and SAP etc. the CRM is accessible by most of the entrepreneurs. Besides that, there are number of medium and small size firms/software houses that are providing the comparatively economic and customized CRM solutions that are affordable even for the small entrepreneurs.
The origin of CRM is the concept and practice of database marketing during the 1980s. This concept was based upon to cater the whole clientele by assigning the number of professional or dept phenomena, because the key clients are the backbone for any business and the assurance in providing the continuous profit streams to the company. Therefore, their views and response are inevitable guidelines in developing the future business strategies.
The era of 1990s is the era of reshaping the CRM when CRM modified its shape and dimension by keep following the traces of ongoing needs and development of cutting-edge technologies. In that era the CRM followed concept and practice of satisfying the customer needs and keep motivating them by using their historical records. Currently, CRM is being used as the analysis tool to study the customer trends in developing and formalizing the business strategies.
The arrival of information technology and dot.com arena that gave the further edge to the CRM and now there are varieties of CRM applications and database are available on readymade or customized basis, but in that domain almost more than 50 percent of share is captured by the renown industry giant such as Oracle, SAP, Siebel, PeopleSoft and Telemation. To be specific, it would be focused on the Oracle, SAP and Siebel. (Exforsys, 2010)