CRM means ''Customer Relationship Management'', i.e. the concept of a planned and structured means of managing the relations with your customers. A CRM tool allows a business to manage customer relationships in a structured and organized way using software that is normally hosted in-house or on demand, in the cloud.
CRM systems are valuable because the information they provide can help boost the general business goals of an organization. For instance, if sales consultants know the specific needs and preferences of their customers, they can deliver a more personalized service creating a more client-focused environment. CRM systems also provide a central documentation location, allowing employees across different departments access to the same information.