Customer Relationship Management Software

Customer Relationship Management Software
Customer Relationship Management Software also known as​ CRM is​ software that allows a​ company to​ manage their relationships with their customers by capturing,​ analysing,​ and storage of​ customer,​ partner,​ vendor details and also internal process information.
The key functionality of​ a​ CRM system is​ divided into 3 basic modules these are Marketing,​ Service and Sales and the​ 3 aspects of​ the​ system are Operational,​ Collaborative and Analytical (these can be implemented in​ isolation from one another).
• the​ marketing module deals with providing functionality of​ short term execution of​ marketing related activities and long term planning within a​ company.
o Campaign Management – running marketing campaigns using different communication channels,​ which targets potential buyers using a​ product or​ a​ group of​ products as​ a​ message.
o Planning – making long term market plans which are quantitative or​ qualitative measures .​
These can be set for a​ period of​ time and for different product groups and geographies.
o Lead Management – generating sales related leads which then can be converted into sales,​ lead management deals with processing the​ leads by carrying out sanity checks and evaluating the​ genuineness of​ the​ information received and then deciding which leads are hot and cold.
• the​ service function focuses on​ how effective the​ system is​ of​ managing customer service which is​ planned or​ unplanned .​
Below are some of​ the​ functions of​ the​ Service module: -
o Service Order Management
o Service Contract Management
o Planned Services management
o Warranty Management
o Installed Base (Equipment) Management
o Service Level Agreement Management
o Resource Planning and Scheduling
o Knowledge Management (FAQs,​ How to​ guides)
• the​ sales function focuses helping the​ sales team of​ the​ company to​ manage and execute the​ pre-sales process,​ making it​ more organized .​
The sales team in​ most companies are responsible for capturing any leads or​ opportunities,​ capturing customer interaction,​ the​ CRM helps them process this data and monitor it​ in​ the​ future.
o Opportunity Management – helps to​ organize all relevant data received and captured for a​ deal to​ be put into one place,​ it​ could hold data as​ expected budget,​ total spending,​ prospective customers,​ key players,​ products interested in,​ important dates and expected closing dates of​ a​ deal.
o Quotation and Sales Order Management – if​ an​ opportunity is​ reached the​ quotation phase a​ quotation is​ formed and if​ this is​ won the​ quotation is​ turned into a​ sales order – the​ sales order then gets passed to​ the​ ERP system.
o Activity Management – this represents activities that go on​ within the​ sales and service areas with the​ interaction with the​ customer including meetings,​ discussions,​ calls and emails.
Operational – this is​ the​ automation of​ customer support and the​ processes that include the​ company’s sales and service representative.
Collaborative – is​ the​ direct communication between the​ customers that does not include a​ company’s sales and service representative.
Analytical – the​ analysis of​ customer data which is​ used for a​ broad range of​ purposes.
Customer Relationship Management Software is​ a​ good way of​ organizing and running your company effectively.

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