Customer Relationship Management (CRM) is a strategy for managing a company's interactions with clients and sales prospects with the overall goals of finding new clients, retaining existing clients, winning back former clients, and reducing marketing and client service costs. When implemented effectively, CRM involves people, processes, and technology working together across all client-facing departments to increase profitability and reduce costs. Benefits of CRM tools include streamlined sales and marketing processes, higher sales productivity, increased cross-selling opportunities, improved service and retention, increased call center efficiency, and higher overall profitability.