Customer Relationship Management (CRM) System

67 Chapter 2 Customer Relationship Management (CRM) SystemWhat is a Customer Relationship Management (CRM) System ? Not only is there little agreement on what it really stands for, there is even less agreement on what constitutes a CRM System , how it should be used, the potential of profitability gain, the impact on Customer loyalty, the costs involved, the personnel needed, and the training needed for the CRM personnel. CRM System characteristics are not limited to the CRM products and tools that are currently available in the market, and CRM is certainly not a technique or methodology. There is every reason to believe that the boundaries described for CRM in this book will be constantly enlarging in the coming years (see Section Anatomy of a CRM System ). introduction to Customer Relationship Management (CRM) SystemsNotwithstanding all these caveats, a CRM System could be defined reasonably as follows: A Customer Relationship Management (CRM) System is a suite of pre-engineered, ready-to-implement, integrated application modules that focus on automating and optimizing all Customer -centric and Customer -responsive functions sales, marketing, service, and support of an enterprise and possessing the flexibility for configuring, customizing, and personalizing dynamically the delivered functionality of the package, through any channel of interaction, to suit even the specific requirements of an individual cus

Customer Relationship Management (CRM) System 69 elevated information systems from a mere enabler of the business strategy of an organization to a

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