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IntroductionEven now, customer relationship management (CRM) is in its growth stage. Until new-fashionedly, diverse individuals defined this concept differently. As the name suggests, the firsthand focal point is placed on the customer. If a company develops punter customer relationships, it also improves trade processes as well as its profits. In general CRM, is a more than efficient automated method employ to connect and improve all areas of strain to focus on creating more solid customer relationships (CRM inquiry Center, 2001). All forces are coupled in concert to save, improve, and acquire greater business to customer relationships. The most common areas of business that are positively affected include marketing, sales, and customer service strategies (Digital Consulting Institute, 2002 CRM Research Center, 2001). CRM helps create time efficiency and savings on both sides of the business spectrum. Through correct implementation and use of CRM solutions, companies gain a cleanse understanding of their strongest and weakest areas and how they contribute improve upon these. Therefore, customers gain better products and services from their businesses of choice. In order to achieve better insight on CRM, it is essential to rate all of its components. Analogous to other technologies, CRM has its goals, costs, implementation strategies, and success and failure stories.GoalsIf successful, CRM can assist businesses with many customer-oriented processes. In general, companies will be able to run better customer service. By keeping track of customer preferences, a company will have a better idea of what flake of questions to expect (Bannan, 2001). Through well-organized call centers they can provide faster more intelligent solutions to customers questions and complaints.CostsCRM does not come without its costs, however, according to a recent survey conducted by The Data Warehousing Institute, nearly half of the plurality surveyed stated that their CRM project expenses were less than $500,000. This demonstrates that not all CRM implementation has to be costly. On the other hand, this survey also presented that quite a fewer participants had budgets of more than $10 million (CRM Research Center, 2001).