The Field Sales Automation components of a CRM suite alone can not only increase the aforementioned visibility into the sales process, but has also decrease redundant data entry by 20% to 25%. Studies at Hewlett-Packard have demonstrated that a properly integrated and customized CRM system can significantly impact a companyвЂ™s top line revenues and bottom line earnings through defined, systemic and realized savings. CRM software automation has enabled todayвЂ™s managers and C-level executives to increase the visibility and transparency of their companies, as well as to allow them to better control each aspect of their business вЂ“ all without negatively impacting current support staff or needing to hire additional personnel.

In many cases, the CRM software suite can integrate with Sales Order Processing and Inventory Management solutions further increasing automation and efficiencies. Information Technology (IT) facilitates CRM objectives and processes by using sophisticated software programs to automate customer facing and back office operational activities and processes. It is a deliberate and systemic method in which companies implement customer facing processes to accommodate customers, continually develop customer relationships and increase revenues from customers. The challenge comes in identifying the most profitable clients and then devising a system that assures their retention вЂ“ all while increasing the customer base.Д¬RM, or Customer Relationship Management, is first and foremost a business strategy. This should come as no shock to business owners and managers today that already know their best source of income is their current customer base. It found that for many companies, if an organization can increase its customer retention rates just ten to fifteen percent, it can double profits.

The Harvard Business Review recently conducted a study on customer retention and the link to company profitability.

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