CRM Software Key Terms

Learn more about the capabilities of CRM software by exploring key concepts

Customer relationship management, or CRM, are the processes and applications utilized by a company in order to track and organize their clientele (and potential clientele) over time. In order to help with these processes, many businesses implement CRM software. CRM software can help improve customer service, organize customer information and target marketing. Here are some important concepts to keep in mind when purchasing CRM software.

Collaborative filtering

Collaborative filtering enables a business to offer specific products or services to their clientele based on what similar clients have purchased in the past. Collaborative filtering is particularly popular among internet retailers.

360-degree customer view

A 360-degree customer view offers a total view of the customer relationship dynamic for a business. CRM software can provide this view by better integrating marketing campaigns hosted by the company as well as through customer support incidents and customer selling, which takes place through sales force automation.

Contact management

Contact management is a feature of CRM software which allows for the storage, organization and retrieval of client data including phone, email, address and fax information.

Software as a service

Software as a service, abbreviated as SaaS, refers to the delivery of a software program or product via a service subscription. CRM software is now available in the form of a pay-as-you-go subscription as opposed to the traditional procurement. CRM software as a service is hosted remotely and then delivered to the software users by their World Wide Web browsers.

3G

3G is a wireless protocol technology that supports the transmission of data. There are a number of CRM software vendors and service providers who have invested in the technology in order to offer their clients wireless and mobile CRM solutions.

Inventory control

Inventory control is the aspect of CRM software which allows the users of the software to manage the product inventory, consumer base and placed orders.

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