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Customer Relationship ManagementCustomer Management Systems improve interaction, efficiency and effectiveness when acquiring, supporting, selling and managing customers. CRM benefits companies to benefit from marketing campaigns, faster sales cycle and improved customer service.For over a decade companies have used CRM to meet challenges like competitive business, innovation and advanced resource utilizations. A 360 degree view of customer interaction history ensures consistent customer communication and raises customer satisfaction. It also allows businesses to detect early warning signs of competitive advances. Aspects of CRM There are basically three aspects of CRM which can each be implemented in isolation from each other: Operational CRM- automation or support of customer processes that include a company’s sales or service representativeCollaborative CRM- direct communication with customers that does not include a company’s sales or service representative (“self service”) Analytical CRM- analysis of customer data for a broad range of purposesOperational CRM Operational CRM provides support to "front office" business processes, including sales, marketing and service. Each interaction with a customer is generally added to a customer's contact history, and staff can retrieve information on customers from the database as and when required. One of the main benefits of this contact history is that customers can interact with different people or different contact “channels” in a company over time period without having to repeat the history of their interaction each time.Consequently, many call centers and BPOs use some kind of CRM software to support their call centre agents. Collaborative CRM Collaborative CRM encompasses the direct interaction with customers. This can include a variety of channels, such as internet, email, automated phone (Automated Voice Response AVR). It can generally be equated with “self service”.The objectives of Collaborative CRM can be broad, including cost reduction and service improvements. Analytical CRM Analytical CRM analyses customer data for a variety of purposes including Design and execution of targeted marketing campaigns to optimise marketing effectivenessDesign and execution of specific customer campaigns, including customer acquisition, cross-selling, up-selling, retention Analysis of customer behaviour to aid product and service decision making (e.g. pricing, new product development etc.)Management decisions, e.g. financial forecasting and customer profitability analysis Prediction of the probability of customer defection (churn).Analytical CRM generally makes heavy use of predictive analytics. OTS helps customers assess their CRM needs based on company, size, competitive environment and strategic goals. These CRM Solutions are provided using vtiger CRM and SugarCRMvtiger CRM vtiger CRM is an Open Source Customer Relationship Management Software built on LAMP Stack. It provides enterprise quality enhancement utilities such as vtiger outlook, thunderbird and Office Plugins. SugarCRM is the world's leading provider of commercial open source customer relationship management (CRM) software for companies of all sizes. Sugar easily adapts to any business environment by offering a more flexible, cost-effective alternative than proprietary applications. SugarCRM's open source architecture allows companies to more easily customize and integrate customer-facing business processes in order to build and maintain more profitable relationships.
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