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 ?
As CFO, Christofori is responsible for all aspects of the Company's financial management operations, including setting strategies, and designing and implementing systems and processes.
Catalytic announced yesterday its Fixed-Point DSP Studio software that speeds floating-point to fixed-point conversion for users implementing systems using C or register transfer level (RTL).
He also brings an expertise in implementing systems to maintain high sales productivity across direct and indirect channels, which will be particularly valuable as we move forward.
Designed to simplify multichannel publishing of dynamic content, Arbortext 5 puts the business user in control and reduces the need for specialized technical expertise, ultimately eliminating substantial costs and pain associated with implementing systems to create and share information.
The utility industry, with its millions of resource-intensive transactions, has been slower than others to adopt electronic supply chain management (SCM), largely due to the apparent prohibitive cost of implementing systems and the difficulty in demonstrating the real savings of e-procurement.

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