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In this dynamic and ever growing world, organisations are posted with different types of challenges from different angles. One of the fundamental problem on which the organisations are researching is on the Customer satisfaction. The studies have shown that there is a direct co-relation between customer satisfaction and organisation profitability. All these challenges led to the emergence of Customer Relationship Management (CRM), a concept that focuses on the nurturing of customer relationships. Organisations have turned to CRM mainly to build long lasting, profitable relationship with customers, which can be attainable with a proper management of “Customer-related knowledge” which deals from different perspectives of Customers.

The last few years CRM witnessed an increasingly important role in different industry verticals like, Financial services , Automobile industry etc.,

So, actually What CRM stands for ?

Customer Relationship Management ( CRM ) can be described as, an interactive approach that achieves an optimum balance between corporate investments and the satisfaction of customer needs in order to generate maximum profits. To fulfil the real objective of CRM implementation,

Integrating Sales / Marketing and Support activities, you need strong integration of business processes that involve “Customers”.
Majority of these integrating process can be automated, through Sales force automation, Marketing automation, Analytics and support automation. The effectiveness of CRM implementation really relies on the supply of knowledge on products , markets, and customers. For the same reason, CRM is an knowledge intensive process. In simple terms, if we can understand the customer process, its easy to manage CRM.