Posts Tagged ‘Business Communication’

Vendor Relationship Management

Vendor Relationship Management, also known by its acronym VRM, proves to be the inverse of Customer Relationship Management. Where CRM attempts to understand the complete needs of the customer, VRM operates under the goal of outlining the technologies, tools, and services that enable the customers to manage vendor relationships. Those vendors who work with these technologies, tools, and services gain the ability to develop superior relationships with their customers. Vendor Relationship Management has emerged to become a competitor with Customer Relationship

Key Business Process Areas in CRM

Customer Relationship Management, or CRM as it is commonly known, involves a great number of potential areas of efficiency for any business organization. There are similarly a variety of key business process areas relevant to CRM systems. Among them are the processes of marketing, sales, service, partner channel management, interaction centers, web channels, business communication and real time offer management, and trade promotion. Where marketing is concerned, customer relationship management systems increase customer demand and align the marketing processes. This is