Customer relationship management (CRM) software enables business management and automation. This is essentially meant to address the needs of marketing, sales & distribution, and customer service & support divisions within an organization to allow the three to share data on prospects, customers, partners, competitors and employees.
The purpose of CRM software is to manage the customer through the entire lifecycle; i.e. from prospect to qualified opportunity to order. Amidst the ongoing economic recession, companies all over the world are engaging in cost cutting and are reluctant to invest in new technologies. However, the market of customer relationship management software has remained untouched, as it is used to obtain cost effective tools and productivity gains to survive the recession.
The cost-cutting mode is driving the companies to rethink how and where they should spend their marketing and sales promotion dollar; thereby creating opportunities for CRM software.
Further, organizations are thriving to gain customer insights, sustain competition, and provide differentiated products and services to maintain customer loyalty. Also, the availability of service oriented architecture, enabled with customer relationship management software, is making it attractive to implement and integrate seamlessly with the existing systems.The report forecasts the size of Global Customer Relationship Management Market over the period 2008-2011.
It segments the total Global Customer Relationship Management Market into various geographic regions (presenting the size of each of these regions). Further, it segments the Global Customer Relationship Management Market by vertical and elaborates the sales drivers for the top five business verticals of the Global Customer Relationship Management Market.
TechNavio Insights is a set of reports based on TechNavio – a market intelligence platform for the IT industry. It builds on the intelligence available within TechNavio, and leverages on the custom research experience of the 'Technology Navigators'. TechNavio is built on years of experience of Infiniti Research in deep dive custom research and consulting for over 30 Fortune 500 companies and numerous large and mid-sized companies.