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Software Information |
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CRM and Customer Life Cycle
Customer Relationship Management or CRM is a combination of enterprise strategies, business processes and information technologies used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. CRM software systems automate many customer-related business tasks. CRM applications are traditionally developed as client-server software which incurs higher initial cost of ownership. The proliferation of the Internet and the Web has fueled the rapid growth of Web-based CRM or online CRM applications. Web CRM systems are widely deployed for web based call center, contact management, trouble ticket, personal information manager and scheduling. The life cycle of CRM consists of three phases - customer acquisition, customer relationship enhancements and customer retention. CRM software streamlines CRM activities at each phase of customer relationship management. Customer Acquisition Contact management module and direct marketing module of CRM allow companies to effectively promote and market their products and services to prospects. Those modules help speed up the acquiring processes and reduce the cost of acquiring new customers. Customer Relationship Enhancements CRM helps companies better understand existing customers' needs and behaviors and enhance the profitability from existing customers by cross-selling. They can customize their products and services to individual customers' needs and preferences. Customer Retention Customer service module of CRM system gives the organizations the edge in customer support and call center services. They can increase customer satisfaction while reducing the cost of support. Customer retention is critical to the overall profitability of an organization. A customer you spend hundreds of dollars and months to acquire may leave you in seconds as a result of poor customer services. Copyright 2005, Bruce Zhang Bruce Zhang has over 10 years experiences in developing and implementing ecommerce and ebusiness systems in various industries. He has created a news aggregator http://www.sysoptima.com/newsbot/crm.php that automatically extracts CRM news and new articles from over 50 sources daily to help corporate executives, IT professionals and consultants to keep up with the latest development in enterprise software market. The website offers a knowledge base for understanding CRM software from a systems perspective.
MORE RESOURCES: Open-Source Software Is in Crisis IEEE Spectrum Artificial intelligence software at Zuckerberg S.F. General Hospital helps flag stroke risk San Francisco Chronicle London startup Agemo has exited stealth. Now, it's building AI reasoning for software to take on Poolside and Magic. Business Insider Keysight Providing Software to Enable Researchers through the Microelectronics Commons Business Wire Business Insider's Rating Methodology for Tax Software Business Insider RatedPower expands efficiency and precision with solar project design software release - PR Newswire AV Unveils Advanced Software Updates to Enhance Puma UAS Capabilities in Contested Environments Business Wire The Generative Software Cycle is Here: OutSystems Introduces the Power of Low-Code x AI Business Wire Schrödinger Announces Multi-Target Collaboration and Expanded Software Licensing Agreement with Novartis Business Wire Anduril Lattice Software Enhances US CENTCOM Air Defense Exercise The Defense Post TestSprite nabs $1.5M to build autonomous AI software testing platform SiliconANGLE News LEAP, globally popular software for energy, climate mitigation, and air pollution planning, to be offered free to an additional 54 countries Stockholm Environment Institute Salesforce Loses Top Artificial Intelligence Executive, Says Analyst Investor's Business Daily AI-based ARIA detection software could bring 'renewed hope' for people undergoing Alzheimer's treatment Health Imaging DMDE review: How good is this free data recovery software? Digital Trends EasyODM Launches AI-Powered Machine Vision Software Vision Systems Design Epic software helps veterans access VA benefits Verona Press Joget Earns GovStack Software Requirements Compliance ENGINEERING.com Enterprise Software in the Age of Generative AI GP Bullhound Fast 50 2024: Fearless aims beyond software after first acquisition The Business Journals Exclusive | FBI used ‘software tools’ to search social media for election-related talk: analyst New York Post Precisely Named a Leader in IDC MarketScape: Worldwide Data Intelligence Platform Software, 2024 Morningstar Best Human Resources Software - 2024 Reviews & Pricing Software Advice Amundi buys wealth software firm Aixigo Financial News KIC Launches Game-Changing TAS Software Platform to Address Emerging Thermal Process Challenges AZoRobotics Take-Two Interactive Software Chief Financial Officer Lainie Goldstein Sells 35% Of Holding Simply Wall St Aviation Software Market Revenue to Attain USD 21.55 Bn by 2033 Precedence Research Samsung Galaxy S25 to offer 7 years of One UI software updates: Will you use it for that long? Sammy Fans Indian payments platform Razorpay launches B2B software fund - Global Corporate Venturing Danfoss Power Solutions launches ACL 3.2 software Industrial Vehicle Technology International PTV updates truck route-planning software Traffic Technology Today MSU, Web Software Engineer II, Bozeman Daily Chronicle From self-driving cars to AI that writes enterprise software: Cogna founder raises $15M - TechCrunch Montclair Council Passes Cell-Tower Ordinance, Tables Storm Water Regulation and Software Agreement TAPinto.net The Intellectual Property Software Market Reach USD 31.3 Billion by 2032 Growing with 15.6% CAGR EIN News Snyk founder’s Tessl raises $125M to revolutionise AI native software creation with spec-centric model Tech Funding News Danfoss software enables autonomous control Power Progress Forrester recognizes Black Duck as a Leader in software composition analysis Security Boulevard |
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