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What is CRM?

CRM stands for Customer Relationship Management and it describes the way in which an organisation interacts with its customers or stakeholders, the information it holds on those individuals or organisations, and how it tracks and organises the interactions to build up a cohesive picture of each relationship.

It is often thought of as simply being technology, but successful CRM is actually built on people, relationships and effective, thoroughly-understood processes. While CRM software can help to save time and money and can provide an organisation with valuable business intelligence, it is not a silver bullet; it needs to fit in well with the way that people undertake their day-to-day jobs and be easy and straightforward to use. This is why a critical success factor in CRM implementations is in fact how well people can adapt to the behavioural changes that underpin the sharing ethos of a ‘CRM culture’.