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Customer Relationship Management (CRM) is one of the most widely-used and most widely-misunderstood terms in today's corporate environments. Put simply, 'CRM' is a catch-all term used to describe software and related technologies that manage customer-facing business functions (most notably Sales, Customer Service and Marketing), business processes and data. When done right, CRM allows companies to increase revenues and profits while lowering the cost of marketing, sales and service. The payoff is clear - by better aligning business processes and managing customer data across all customer-facing functions, companies can build successful, profitable and long-term customer relationships.
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