Any successful company consists of Employees, Business Processes, Technology and Customers. Customer loyalty and satisfaction is the number one priority for any company. So managing the customer information is very crucial for a company. Also the processing of customer requests like orders, service request, payments are very important. All these factors including many others make up a concept called CRM or Customer Relationship Management.
CRM is a business wide strategy designed to reduce costs and increase profitability without compromising the customer satisfaction and loyalty. It also improves the call center efficiency where customer data is accessed real-time. It is also used to automate processes by being a less burden on employees. It also integrates data with other systems so that all needed information is available at one central place saving time and operating costs. It helps the management to make right decisions like where to invest money and tap the right opportunity to keep up with the market trends by looking at the sales, marketing and customer information at one central place. So the overall objective of CRM is reduce costs, improve operating efficiency and customer satisfaction.
There are many CRM softwares available in the market. They come in different forms. Some are low cost softwares which are very simple to implement and have very limited functionalities while some softwares available have very complex functionalities and could cost millions to implement it. The company management needs to determine which CRM software best suits their business needs in terms of its operational efficiency and budget. Among all of those available softwares in the market, the most popular ones is Siebel CRM.