Glossary: C

Information Technologies

What is CRM?

Customer Relationship Management (CRM) is a strategic approach and integrated technology solution used by businesses to manage all interactions and relationships with current and prospective customers. CRM systems collect and organize customer information from multiple channels—such as websites, phone, email, social media, and direct interactions—into a centralized database. This enables companies to better understand customer behavior, preferences, and needs to deliver personalized service, improve customer retention, and drive revenue growth.

Modern CRMs support sales, marketing, and customer service teams by automating workflows, providing real-time insights, and fostering collaboration across departments. By aligning business processes with customer-focused strategies, CRM enhances customer loyalty and profitability through targeted marketing, efficient communication, and data-driven decision-making.

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