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    What is CRM?

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    Customer relationship management (CRM) is a term that encompasses practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the purpose of improving relationships with customers, improving customer loyalty, and attaining higher sales. CRM systems are designed to store information on customers across different channels of contact between the customer and the company, potentially include the web site, telephone, online chat, direct mail, and social media. CRM systems maintain official records regarding customers' personal information, purchase history, buying preferences, and interaction history.

    A CRM system is built around people and relationships and is an essential management tool for any business of scale. At the heart of any business is the relationship between you and the customer. The business will connect with customers who desire their products or services. As the business matures, the connection with the customers will deepen and expand. It becomes important to monitor, maintain, and develop the relationships over time. You will need to manage an ever-growing number of relationships with external individuals and organizations, while sharing the information effectively and efficiently amongst your internal teams. A CRM system acts as the brain behind a successful, thriving business.