It's an acronym for Customer Relationship Management. This type of system tracks the history and contact information between companies, their current customers (and prospective), with other groups within or outside your business world that may be relevant to this data set - all in one place! In order to increase customer satisfaction and profitability, CRM systems are used by companies. When these businesses use this technology in their day-to-day operations it can help them better understand the needs or wants of their clients while also increasing access through different communication channels so that they may be reached at any time when needed!