CRM stands for Customer Relationship Management, a set of practices that companies can utilize to build, broaden, and deepen customer relationships. CRM can help an organization transform the way it markets, sells, and services its customers. By embracing the switch from a supply-side view to a demand-side view and focusing on the customer's life cycle and how to keep customers happy throughout that life cycle, CRM empowers companies to utilize every opportunity to delight customers, foster their loyalty, and build long-term, mutually satisfying relationships.

CRM offers a set of solutions that address critical business issues such as:

• What is the lifetime value of a customer relationship?
• What is the best sales strategy for each customer?
• What is the best product to sell?
• Which customers will buy that product?
• Which channels will best serve these sales and bring in more sales?

CRM systems covers a wide range of areas including:

• Customer support
• Sales Force automation
• Marketing analysis
• Marketing automation
• Telemarketing
• Help Desk management
• Call Center management
• Quality assurance