| Customer Relationship Management (CRM) software | | | | and simultaneously reduce the cost of goods sold. |
| refers to the applications that help organizations | | | | Customer Relationship Management is a fast growing |
| perform activities in three aspects: Operational, | | | | market in China, which currently is in its |
| Collaborative, and Analytical. CRM software facilitates | | | | developmental phase. With the increased adoption of |
| the companies to efficiently gather customer | | | | CRM, the demand for more sophisticated and |
| information, capitalize customer buying behavior, and | | | | customized products are also growing. Software as a |
| leverage technology investments by improving the | | | | service (SaaS) is also becoming popular among the |
| quality of sales and services. | | | | users. Further, the rapid growth of small and medium |
| For the enterprises, the fundamental challenge is to | | | | sized businesses (SMBs), and an increased |
| ensure customer loyalty and satisfaction by providing | | | | implementation of CRM in banking, manufacturing and |
| a consistent customer experience across the board. | | | | the telecommunication industries are driving the |
| Understanding the customer needs and delivering a | | | | market. |
| positive customer experience is critical to develop | | | | The report by TechNavio Insights forecasts the size |
| long-term profitable customer relationships. There is a | | | | of the Customer Relationship Management (CRM) |
| constant pressure on the enterprises, to increase the | | | | market in China over the period 2008-2012. |
| frequency of customer visits, size of transactions, | | | | |