customer relationship management

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customer relationship management (CRM)

a strategic concept which focuses on business competencies, processes and technologies required to effectively service the needs and requirements of a firm's customers. As such CRM embraces key MARKETING activities and related INFORMATION MANAGEMENT in order to keep existing customers and attract new ones. The issue of customer retention has taken on a new imperative in the digital age, with the INTERNET and E-COMMERCE providing customers with greater opportunities to compare prices, switch suppliers etc. CRM recognises that businesses need to use these new technologies more proactively to their own advantage, either by developing IT capabilities in-house or relying on outside IT specialists, to provide call centres, sales force automation, marketing and data analysis and website management.
References in periodicals archive ?
Solution capabilities span business intelligence, client relationship management, enterprise project management and enterprise resource planning.
His contributions have included assisting early adopters of technology, working with the team that eventually created LegalKEY, as well as creating a more user-friendly environment for integrating the firm's information management environment for document management, e-mail, and client relationship management.
Forward-thinking financial services firms such as Calamos Investments are looking for strategic client relationship management to help them differentiate their offerings and build client loyalty in a competitive market.
As part of the new leadership, Ray Morris has been appointed vice president of sales and marketing, and Ty Miller will serve as vice president, client relationship management (CRM).
Paladyne Client Master[TM] -- provides complete client relationship management including website integration and reporting.
Lemaire will direct the development of new business opportunities and client relationship management, and will also work with industry associations and regulators on reinsurance related issues.

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