Saturday 19 January 2013

CRM Terminology

Are you searching for  getting few domain knowledge about CRM?
If yes then this is the right blog you choose, hope you will like it.


what exactly CRM is?

  • CRM is nothing but customer relationship management basically by sales department of the Organisation in order to do business for maximising the benefit
  • And CRM software are the application software which helps to automate the sales department work. 


  • Customer is a person or organisation that buys goods or services from a store or other business.
  • CRM system will help to maintain the relationship with customer in order to maximise your benefits by automating maximum sales flow


  • Leads are the individual or representative of organisation who shows interest in your product or services
  • Or in other word leads are the potential customers self registered online.


  • Deals are the qualified/selected customer contacted by the sales team.
  • by the way the dictionary mining of deal is "An agreement entered into by two or more parties for their mutual benefit, esp. in a business or political context."


  • Opportunities are the hot Leads from where the Organisation can get more revenue by converting them into Deals.
  • Or you can say Opportunities are the sales and pending deals that you want to track; may be for making deal with them.
  • Potentials are the business deals with organisation or peoples that generates revenue for your  organisation.


  • Cases are the feedback that are received from the customer on various issue by using your product or services.


  • Activities are the process to keep track of business interaction including task(eg. phone call or email)  and calendar events (eg presentation or business meetings).


  • Task is an activity which is having due date.


  • Event is an activity which is having start and end time.


  • Contacts are the peoples in the company with whom you communicate and interact in pursuit of a business.


  • Accounts are companies or department in a company, with which you make business dealings.


  • Forecasts are nothing but the predict and plan your sales cycle from pipeline to close sales and manage sales expectation  throughout your organisation


  • A campaigns is a marketing effort to increase  the sales through planned, executed, distributed and analysed marketing activity.
  • The Goal of the effort is to often generate new Leads and help converting them to Deal.
  • A campaigns may have other goal like to awareness and brand to the company.
  • A CRM system can help for manage, execute and monitor marketing campaigns.


  • A product is a business offering form a business to it’s customer.
  • A CRM system should allows a business to record it’s product and related information so sales staff and other CRM users can use product information fully and correctly in their business activity.


  • Vendors are the companies, individuals or contractors from whom your organisation gets products/services.


  • Invoice are the bills generated by the vendor along with the goods/services with the purpose of procuring payments.
  • Or in a more general way you can say a commercial document issued by a seller to the buyer

Purchase Order:

  • Purchase Orders are legally bound order-placing documents for procuring products or services from vendors.

Price Book:

  • Price Books are the agreed price for selling a product to a customer. Based on the agreed terms, the prices can even vary for different customers.

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