Customer Relationship Management is a broad concept which can now be simplified with the use of the correct technology. This will not take away from the thoroughness of your business processes but instead it is an efficient adjustment in this strategy. Given its useful qualities, it is predicted by Garter that by 2021, CRM technology will be the largest area of spending in a company in terms of enterprise software.
A brief version of how the technology operates is as a centralized database which stores information about customers enabling a firm to maximize their customer’s experience. This data includes a customer’s contact information, communications, accounts, purchases and preferences.