Saturday, January 01, 2005

And CRM means...?

Quite a while ago, the term “CRM” entered the corporate lexicon, particularly in the Sales and Customer Support departments of large corporations.

CRM stands for “Customer Relationship Management”. According to CRM magazine’s destinationCRM .com website, CRM is “is a company-wide business strategy designed to reduce costs and increase profitability by solidifying customer loyalty”. Siebel, one of the best-known providers of CRM software, defines CRM asan integrated approach to identifying, acquiring, and retaining customers”.

However, the term CRM still is positioned as the software and/or computer systems that make this possible in organizations, just as the term “Supply Chain Management” is sometimes equated with ERP (Enterprise Resource Planning) software.

Now… Has CRM delivered results to companies that have implemented it? We think so.

And as a result, are customers more satisfied with their service providers? Has CRM enhanced the customer experience? Well…we wish we could say "yes" to both questions.