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Reflection Essay 1: Customer Relationship Management Skylar

2. The customer details are automatically stored in the database. 3. Various dep, essays Related to Customer Relationship Management). CRM applications help businesses collate the customer and customer-related information more effectively and neatly such that the data can be analysed and reports such as customer buying cycles, profitable customers and customer preferences can generated for the management to make key decisions. Fig. 1 below shows the way a CRM works. Follow the numbers to see the flow of the information in the CRM system. 1. The visitor to the webpage first fills in a query or a sales order form. Here, the word "relationship comes into place. Customers want a business relationship with the company where they can be appreciated and respected. Hence, customer relationship management, or CRM, is fast becoming one of the major elements of corporate strategies in many organizations. CRM focuses on the retention of customers by collecting all data from every interaction, every customer makes with a company from all' touch or access points whether they are phone, mail, web or field. Already, companies such as Hong Leong Finance and UOB are pouring in millions of money into IT initiatives that will see the deployment of new servers and a CRM system. These IT initiatives are aimed at enhancing the workflow processes thereby saving time and money in the long run. Customer Relationship Management (CRM is strategic approach that combines the business processes, technology, employees, and information across an enterprise to attract and retain profitable customers. In simpler terms, CRM means putting customers at the heart of the business.