Definition
Customer relationship management (CRM) is software that keeps a business's records of customers, contacts, sales opportunities and interactions in one place, so the sales team can manage relationships and the pipeline.
What is CRM used for in B2B?
A CRM replaces scattered contact lists, notebooks and spreadsheets with shared records: who the customer is, who you deal with there, what you’ve discussed, what’s being quoted and who owns the account. Managers use it to see the sales pipeline, activity and conversion. B2B CRMs also handle accounts with several buyers and long sales cycles.
Example: an MEP supplier tracks 300 contractor accounts, the projects they’re bidding on and every site visit by its six salespeople.
Stand-alone CRMs usually stop at the won deal; orders, stock and invoices live in other systems, which is where an ERP takes over.