Customer relationship management (CRM) is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth. CRM systems are designed to compile information on customers across different channels -- or points of contact between the customer and the company -- which could include the company's website, telephone, live chat, direct mail, marketing materials and social media. CRM systems can also give customer-facing staff detailed information on customers' personal information, purchase history, buying preferences and concerns. The new breed of customers is more aware and informed expecting to be served anytime, anywhere amid an endless variety of products and service channel options. They demand consistent experience across all channels, along with more control over the buying process, with a call for more personalized service, relevant messaging and offerings, and greater variety and value for money. The term CRM has many different interpretations. It is important to recognize that CRM is not just a technology but a set of capabilities, processes, strategies and technologies to manage end-to-end customer relationship – CRM.