Analysis of the Impact of CRM System Implementation on Customer Relationship Management

Abstract

Customer relationship management (CRM) software has become a near-vital tool for businesses of all sizes. This system is used by companies to enhance their interactions with customers and streamline internal processes to achieve better business outcomes. The implementation of CRM system offers numerous advantages, such as the centralization of customer information, facilitating easy access to essential customer data across different departments and seamless integration with other systems and applications. However, deploying a CRM system also presents certain risks such as dependency on technology, the accumulation of vast amounts of data and potential data security and privacy issues. This article delves into the significant advantages and challenges of CRM systems, highlighting how they influence customer relationship management. CZU: 005.346:640.43; JEL: M1, M3, M31, L1, O3