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.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
References in periodicals archive ?
Teleperformance, the worldwide leader in outsourced multichannel customer experience management, serves companies around the world with customer care, technical support, customer acquisition and debt collection programs.
MotoFuze LLC is a division of FuzeCast that is revolutionizing how automotive dealers ignite, engage and influence more consumers more profitably with the industry's first Customer Experience Management (CEM) platform.
(NYSE: SRT) (Startek), both providers of outsourcing and technology services, have announced that they have completed a business combination transaction between the companies to create a provider of customer experience management, the companies said.
Following the release of its latest Customer Experience Management (CEM) platform, which allows businesses to reach consumers by using networking technology to leverage Brand Ambassadors in sharing professionally curated content, MotoFuze continues to advance its technology by expanding into the mobile arena.
(NYSE: AVYA), a global business communications company, has signed a definitive agreement to acquire Spoken Communications, an innovator in Contact Center as a Service (CCaaS) solutions for enterprise customers and a provider of transformative real-time customer experience management applications built on conversational artificial intelligence, the company said.
Teleperformance (Paris:RCF), the worldwide provider of omnichannel customer experience management, announced Teleperformance in Brazil was recognized for the 14th time as Best companies to Work For by Great Place to Work[R] (GPTW), the company said.
Kansas City, MO, April 08, 2015 --( MotoFuze L.L.C, a division of FuzeCast that provides the automotive industry with the leading Customer Experience Management (CEM) system, has expanded its growth capacity tenfold by moving to an expansive 23,000 square foot office facility.
Neustar, Inc., a trusted, neutral provider of real-time information services and KUBRA, a provider of customer experience management solutions to some of the largest utility, insurance, and government entities across North America, has announced a partnership that brings the Neustar Telephone Consumer Protection Act (TCPA) compliance risk mitigation solution to KUBRA, the company said.
The system is part of the company's suite of customer experience management tools that help businesses learn more about their customers.

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