Customer Relationship ManagementSoftware also known as CRM is software that allows a company to manage theirrelationships with their customers by capturing, analysing, and storage ofcustomer, partner, vendor details and also internal process information.
The key functionality of a CRM system is divided into 3 basic modules these areMarketing, Service and Sales and the 3 aspects of the system are Operational,Collaborative and Analytical (these can be implemented in isolation from oneanother).
Marketing:
The marketing module deals with providing functionality of short termexecution of marketing related activities and long term planning within acompany.
- Campaign Management running marketing campaigns using differentcommunication channels, which targets potential buyers using a product or agroup of products as a message.
- Planning making long term market plans which are quantitative orqualitative measures. These can be set for a period of time and for differentproduct groups and geographies.
- Lead Management generating sales related leads which then can be convertedinto sales, lead management deals with processing the leads by carrying outsanity checks and evaluating the genuineness of the information received andthen deciding which leads are hot and cold.
Service:
The service function focuses on how effective the system is of managingcustomer service which is planned or unplanned. Below are some of the functionsof the Service module: -
- Service Order Management
- Service Contract Management
- Planned Services management
- Warranty Management
- Installed Base (Equipment) Management
- Service Level Agreement Management
- Resource Planning and Scheduling
- Knowledge Management (FAQs, How to guides)
Sales:
- The sales function focuses helping the sales team of the company to manageand execute the pre-sales process, making it more organized. The sales team inmost companies are responsible for capturing any leads or opportunities,capturing customer interaction, the CRM helps them process this data andmonitor it in the future.
- Opportunity Management helps to organize all relevant data received andcaptured for a deal to be put into one place, it could hold data as expectedbudget, total spending, prospective customers, key players, products interestedin, important dates and expected closing dates of a deal.
- Quotation and Sales Order Management if an opportunity is reached thequotation phase a quotation is formed and if this is won the quotation is turnedinto a sales order the sales order then gets passed to the ERP system.
- Activity Management this represents activities that go on within the salesand service areas with the interaction with the customer including meetings,discussions, calls and emails.
- Operational this is the automation of customer support and the processesthat include the companys sales and service representative.
- Collaborative is the direct communication between the customers that doesnot include a companys sales and service representative.
- Analytical the analysis ofcustomer data which is used for a broad range of purposes.
Customer Relationship Management Software is a good way of organizing andrunning your company effectively.
About the Author:
JenePedder is the webmaster of Synergy specialists of
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