Business and IT Glossary  > Customer Relationship Management (CRM)

Customer Relationship Management (CRM)

Customer Relationship Management (CRM) is the top application for sales professionals to track and manage sales. It involves adding leads, converting them to opportunities, and then developing them and promoting the opportunities into a forecast.

CRM applications have multiple layers, and sales managers count on them to track activities and understand what is happening in the sales pipeline. For any enterprise, the effective use of CRM in the sales process cannot be overlooked. It is a key way to accelerate sales activities.

The shift in CRM is the growth into what we call CRM platforms that support ecosystems. Leading providers are leveraging their core CRM platforms and adding app store functions to integrate third-party apps (via simple configuration) that can greatly enhance the platform’s functionality. Examples include document assembly, marketing automation integration, and more.

Related Research

The Aragon Research Globe™ for Sales Engagement Platforms, 2017

Eenterprises need more than the standard Office Suite bundled with CRM—they need a robust set of sophisticated tools in an all-in-one platform in order to engage with savvy customers. As organizations require better insight into customers across the buyer journey, marketing is increasingly playing an active role in selecting and funding Sales Engagement Platforms.

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The Aragon Research Top 10 Technology Trends for 2018

Technology is changing faster than ever. Today, digital transformation requires understanding how to leverage strategic technology trends and due to cloud, putting them to work fast. Watch this on-demand webinar to see Aragon’s top technology trends for 2018 that you need to consider for a competitive advantage.