what is crm? | what is cvm?
	What is Customer Relationship Management? In today’s business environment of globalisation, increased competition, deregulation of markets and empowered consumers, the key to sustainable competitive advantage is the customer. Customer Relationship Management is about effectively managing relationships and interactions with your customers and is now widely accepted as being a strategy upon which companies can build sustainable, growing and profitable businesses. In the current environment, those companies who implement CRM successfully will enjoy the fruits of CRM; however, in the medium to longer term, CRM will be the foundation of all businesses if they simply want to compete. CRM is not merely a system; it is a business philosophy, a way of doing business. People are the key to effective CRM. In order to succeed with a CRM strategy, the CRM vision must be adopted across the whole business to ensure that all available resources within a company are utilised effectively to provide the best possible experience for the customer, in order to encourage repeat business or increase satisfaction. Focus2020 define Customer Relationship Management as: “The process by which a business, and the people within it, communicate and deliver the optimum service or product to their customers at the maximum benefit and profit to the business”.