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1. Sales applications     Common applications include calendar and scheduling, contact and account management; compensation; opportunity and pipeline management; sales forecasting; proposal generation and management; pricing; territory assignment and management; and expense reporting. 2. Marketing applications      These include web based and traditional marketing campaign planning, execution, and analysis; list generation and management; budgeting and forecasting; collateral generation and marketing materials management.         3. Customer service and support applications.        These include customer care; incident, defect and order tracking; field service; problem and solution database; repair scheduling and dispatching; service agreements and contracts; and service request management.

Types of CRM – Operational, Analytical, Collaborative It is very much important for a business to share right information to the right person at the right time, otherwise business will lose its opportunities to sale products or services. Customer Relationship Management software is the only solution that can help business to communicate with prospects or customers properly. It helps to retain existing customers and capture new opportunities by building a strong relationship between an organization and customers. Types of CRM: 1.  Operational CRM Operational CRM  streamlines the business process that includes Sales automation, Marketing automation and Service automation. Main purpose of this type of CRM is to generate leads, convert them into contacts, capture all required details and provide service throughout customer lifecycle. a. Sales Automation: Sales automation helps an organization to automate sales process. Main purpose of sales automation ...

E Business CRM Customer Relationship Management  ( CRM ) is a relationships and interactions with your customers and potential customers. It helps you improve your sales and profitability . The Three Phases of CRM Customer relationship management plays an integral part in a typical company's marketing system CRM is a process of gathering and analyzing customer data, building precise marketing campaigns and managing relationships for optimized retention. 1. Customer Acquisition Acquiring customers has always been the first important step in establishing business relationships. With CRM,  advanced software databases are used to capture key customer data  at the point of first contact. It includes customers’ name, address, phone number, email address and sometimes social media accounts. Entering this data into a computer enables future and ongoing communication access. The other major benefit of starting a formal relationship with new prospects and clien...

Entry for Purchase (In case of cash purchase) Purchase a/c                Dr.      To Cash a.c (Being Goods purchased for cash) Entry for Purchase  (In case of credit purchase) Purchase a/c                Dr.      To Name of the person (Being goods purchased on credit) Note: If the purchase transactions has the word "for cash" or "with out any name" then it is considered as a cash purchase. If name of the seller is given but there is no "for cash" then it is considered as a credit purchase. Entry for Sales (In case of cash sales) Cash a/c                       Dr.      To Sales a/c (Being goods sold for cash) Entry for Sales ( In case of credit sales) Name of the buyer          Dr.         To Sales a/c (Being goods sold on credi...

Unit I Basics of Accounts 1.7 Basic Accounting Terms The understanding of the subject becomes easy when one has the knowledge of a few important terms of accounting. Some of them are explained below. Transactions Transactions are those activities of a business, which involve transfer of money or goods or services between two persons or two accounts. For example, purchase of goods, sale of goods, borrowing from bank, lending of money, salaries paid, rent paid, commission received and dividend received. Transactions are of two types, namely, cash and credit transactions. Cash Transaction is one where cash receipt or payment is involved in the transaction. For example, When Ram buys goods from Kannan paying the price of goods by cash immediately, it is a cash transaction. Credit Transaction is one where cash is not involved immediately but will be paid or received later. In the above example, if Ram, does not pay cash immediately but promises to pay later, ...