Customer Relationship Management or CRM involves the implementation of a single integrated system, which will allow an organization to effectively and consistently manage prospects and customers, regardless of where the interaction takes place.

This spans outside sales, call centers, telemarketing operations, direct marketing operations and Internet applications.

The latest IDC report on CRM (Cashing in on CRM) issued in May 2000 predicts that organizations globally will invest $8.7 billion in CRM solutions by 2003.

The demonstrable benefits of CRM systems include a reduction in the cost of sales due to improvements in the level of retained customers, better use of sales and marketing funds through improved targeting and improved productivity across an enterprise.

Many other industry specific benefits are also realizable, for example the better management of promotions in the fast moving consumer goods industry may result in a reduction in days outstanding for accounts receivable.

Any successful CRM system needs to ensure that all points of contact with the customer are handled with consistent quality. This means that a company's call center or Web portal needs to be supported by, and connected to, all areas of the organizational infrastructure as well as new and legacy external delivery channels.

To attain this level of connectivity and communication, customer facing technology must be combined with other 'back office' processes and existing applications, so that appropriate information can be retrieved and updated.

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