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Customer Relationship Management (CRM) integrates people, process and technology associated with sales, marketing and service to maximize the value of every customer relationship. It provides the means by which to manage and coordinate customer interaction across the enterprise, which in turn maximizes revenue by improved loyalty and customer acquisition. The use of better, more complete customer information allows organizations to:
- Build more profitable relationships
- Shorten sales cycles
- Raise performance metrics
- Increase campaign response rates
- Decrease lead generation and customer acquisition costs
CRM software has matured and, to some extent, its functionality has become more customized as per the organizations’ requirements; therefore, organizations are finding it increasingly difficult to differentiate one solution over the next. Typical features and functions found in most CRM systems today are:
- Contact and Account management
- Lead and Campaign management
- Customer service and Case management
- Opportunity and Pipeline management
- Sales, Marketing and Customer Service integration
- Customer Analytics and Reporting
- Transactional/order processing and Product Management
- Quote Management
- Workflow processing
For organizations open source CRM software offers unprecedented flexibility and extendibility. It becomes the vehicle by which innovation is delivered. All at a lower total-cost-of-ownership.
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