Customer Resource Management (CRM) is a business strategy that seeks to understand, anticipate and manage the needs of customers. It involves creating long-term relationships with customers through an integrated suite of activities, processes, technologies and tools that help businesses nurture customer loyalty and increase profits over time. CRM enables businesses to not just provide better customer service, but also to identify new sales opportunities, view past and present customer interactions, and increase customer retention. Ultimately, CRM serves as a strategic asset for businesses, helping them maximize their value from existing customers while reducing the resources needed to gain new ones.