Even though CRM stands for Customer relationship management, there is more to this system than the name suggests. To understand how this system can benefit your business, it is first important to understand the many functions that are connected to it. Customer relationship management is not a linear term, not matter what the name may indicate.
In a nutshell, CRM deals with the many interactions a company will have with their customers. The central goal of this system is to improve the relationship that a company has with its customers, and the goal of doing this is to increase profits and become more competitive. Entire Article on Understanding The Function of CRM