Nearly every business in every country, operating in every sector has one thing in common – the importance of data. Data is pivotal to the success of all organisations as it enables you to understand a wide variety of parameters from the requirements of your customers, to understanding your stock levels. In recent years, businesses have harnessed this knowledge through the rise of Customer Relationship Management (CRM) systems.
So What is CRM?
CRM is a way of improving business efficiency. It is all about strengthening relationships with customers to ensure that they return and at the same time as attracting new customers. Essentially CRM systems provide organisations with a centralised source of data which reduces duplication of effort, meaning information will no longer be stored in people heads, on different spreadsheets or in paper files. This in turn improves the customer experience, resulting in higher customer retention.
xRM
The term Customer Relationship Management is slightly misleading as the strategy, processes and benefits apply equally to every relationship – irrespective of who the relationship is between. There is an increasing need for businesses to manage every relationship which occurs, not just those with customers and this is a concept which Microsoft has branded xRM, where the x can be replaced with anything you like.
For more information about xRM and the benefits it can bring to your organisation, please click here, contact Concentrix on 01509 410500 or email [email protected]
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