CRM is the short form for the term Customer Relationship Management. To manage and analyze customer interactions and data throughout the customer lifecycle, CRM is used. It is basically client relationship management software to assist in the practices, strategies and technologies that companies use. CRM is mainly functional for assisting in customer retention, improving business relationships with customers, and driving sales growth. For compiling information on customers, CRM software solutions is the most effective tool across different channels. It also acts as the point of contact between the company and the customer, which could include the company's marketing materials and social media, live chat, website, telephone, direct mail, etc. For front end customer relationship executives, or managers, CRM is like a lifeline, because it provides details on customers' personal information, purchase history, buying preferences and concerns.