Glossary

Client Relations Management System (CRM)

Client Relations Management System (CRM) is used within business to business (b2b) relationships as well as the business to customer (b2c) relationships. CRM systems are informational databases ran within each company that includes their clients names, contact numbers, contract details and all other aspects of business.

The CRM allows the business to have every piece of information about all of their clients available to them in a single location and in the same structure. The CRM system can be personalized to include sending emails at certain times or for specific reasons to clients or even sending out thank you or holiday cards. The system can be tweaked to include functions that are specific to the nature of the business or which have a personal nature to them, such as reminders on birthdays or anniversaries.

The use of the CRM system by a business can reduce the cost of doing business by creating a single point of administration for many situations needed for commercial business trade, including filing taxes and compiling databases of works, services or products for internal or external reporting needs.