What Is CRM (Customer Relationship Management)?
Customer Relationship Management is a method for keeping track of all the communications your business has with its current and potential clients. The obvious objective is to build relationships in order to expand your company. CRM technology helps companies stay in touch with their customers, manage operations, and increase profitability. This could involve everything from sales calls to customer service discussions to marketing emails.
Important features of a CRM include:
- centralized database containing customer preferences and interactions.
- Process automation for the service, sales, and marketing divisions.
- dashboards for real-time analytics and performance.
- Integrations with email, e-commerce, billing, and communication tools
What does CRM have to do with workforce management?
a great deal more than you might expect. Just as CRMs orchestrate the customer experience, some workforce platforms—like Papaya Global—orchestrate the external workforce experience.
Papaya’s workforce platform mirrors a CRM in several key ways:
- Centralizes external worker data, including invoices, payments, contracts, and classification risk.
- Streamlines compliance workflows, much like CRMs align sales and legal teams.
- Provides dashboards and analytics for contractor spend, performance, and engagement.
- connects to vendor management systems (VMS) like Fieldglass and Beeline, similar to how CRMs connect to marketing and sales stacks.
Example:
An enterprise company uses CRM software to track global workforce clients from initial onboarding through contract renewals. The CRM integrates with their ERP system and workforce payments platform to create one unified source of truth.
Customer data platform
A customer data platform (CDP) is a computer system used by marketing departments that assembles data about individual people from various sources into one database, with which other software systems can interact. As of February 2017, about twenty companies were selling such systems and revenue for them was around US$300 million.
Components
How can a customer relationship management tool help me to build my business?
Learn how to use a customer relationship management (CRM) tool to track your customers’ and potential customers’ details to enable you to build your business.
In this course, you will learn how to:
- Set up a CRM tool for your business.
- Use the CRM tool to track information that will help you build your business.
What does a CRM system do?
CRM lets you store customer and prospect contact information, identify sales opportunities, record service issues and manage marketing campaigns, all in one central location that’s available to stakeholders at your company. It does this by organising customer and prospect information in a secure, easy-to-use digital record with information like a contact ‘s email, telephone, social media handle, all previous interactions with your company and more.
Why it matters:
Customer relationships don’t live in spreadsheets anymore—and your data shouldn’t either. Papaya integrates with leading CRM platforms to keep everything from onboarding details to payment statuses connected under one roof. In fact, Papaya’s own Workforce OS acts like a CRM for your global workforce: track touchpoints, automate communications, and keep every stakeholder in the loop—without the fragmentation.