5.

3 CUSTOMER RELATIONSHIP MANAGEMENT (CRM)

Customer relationship management or CRM refers to the

strategies and

technologies used by business organizations to manage and

analyze data from their

stakeholders, current customers, and potential customers.

Businesses need to employ

CRM in order to improve business-customer relationships,

which could result in customer

retention, increase in sales, and attraction of new customers.

A CRM system helps business organizations reach out to and

stay connected with

their customers, improve profitability, and streamline processes.

It is the best way to allow

different areas of business organizations to interact and build

strong with external

stakeholders.