Why Is CRM One of the Most Valuable Assets a Company

question 65

Multiple Choice

Why is CRM one of the most valuable assets a company can acquire?

• A) Since organizations have not been successful in implementing SCM systems, they have turned their resources towards CRM.
• B) CRM has proven to increase customer loyalty and retention and an organization's profitability.
• C) It is easy for a company to steal their competitors' loyal and devoted customers, therefore companies need a viable process for targeting competitor's customers.
• D) Without CRM it is impossible to effectively manage or cross-sell products to customers.

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Definitions:

Prenumbered

Prenumbered refers to documents or forms that are sequentially numbered in advance to help ensure completeness and control over paperwork, useful in accounting and inventory management.

External Auditors

Independent accounting professionals who examine the financial records and business transactions of a company to ensure the accuracy and integrity of its financial statements.

Control Activity

Actions, policies, and procedures implemented by an entity to minimize risks and achieve its objectives.

Cash Drawer

A small drawer in a cash register or point of sale system used for storing cash and other payment media during business operations.