Customer Relationship Management (CRM): This is a software made for making easier the management of the relation between the company and its customers. CRM is part of the so-called Business Management Systems (BMS), where we can find CRM, ERP, PLM, SCM and SRM, among others. CRM software can have diverse functionalities to manage sales and customers: sales automation and promotion, Datawarehouse technologies for storing business data and bringing report layers, dashboards and key performance indicators, functionalities for monitoring marketing campaigns and business opportunities management, predictive abilities and sales projections.
CRM solution is essential because it helps to improve customers’ satisfaction and thus increases competitiveness and incomes in companies. One of the main functionalities of CRM is that it identifies “different types of customers and then developing specific strategies for interacting with each one”. From this CRM is made for “developing better relationships with profitable customers, locating and enticing new customers who will be profitable, and finding appropriate strategies for unprofitable customers, which could mean terminating those relationships that cause a company to lose money” (Kumar y Reinartz, 2006).
CRM also allows the discovery of value in customers which comes not only from the money they pay for services, but also from people they tell about the products and become customers themselves, or the information on the company they share in social media accounts. CRM becomes a key solution for general growth of enterprises.