Customer Relationship Management CRM
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| Home > Customer Relationship Management |
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| Customer 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. |
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| 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. |
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| Aspects of CRM |
| There are basically three aspects of CRM which can each be implemented in isolation from each other: |
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Operational CRM- automation or support of customer processes that include a company’s sales or service representative |
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Collaborative CRM- direct communication with customers that does not include a company’s sales or service representative (“self service”) |
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Analytical CRM- analysis of customer data for a broad range of purposes |
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| Operational 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. |
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| 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. |
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| Consequently, many call centers and BPOs use some kind of CRM software to support their call centre agents. |
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| 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”. |
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| The objectives of Collaborative CRM can be broad, including cost reduction and service improvements. |
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| Analytical CRM |
| Analytical CRM analyses customer data for a variety of purposes including |
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Design and execution of targeted marketing campaigns to optimise marketing effectiveness |
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Design and execution of specific customer campaigns, including customer acquisition, cross-selling, up-selling, retention |
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Analysis of customer behaviour to aid product and service decision making (e.g. pricing, new product development etc.) |
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Management decisions, e.g. financial forecasting and customer profitability analysis |
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Prediction of the probability of customer defection (churn). |
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| Analytical CRM generally makes heavy use of predictive analytics. |
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| Tetra helps customers assess their CRM needs based on company, size, competitive environment and strategic goals. These CRM Solutions are provided using vtiger CRM and SugarCRM |
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| vtiger 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. |
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| SugarCRM : |
| 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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