Customer Relationship Management in B 2 B Market

The modern environment requires one business to interact with another. CRM is all the tools, technologies and procedures to manage, improve, or facilitate sales, support and related interactions with customers, prospects, and business partners throughout the enterprise. It assumes that CRM is involved in every B2B transaction. Despite the general notion that CRM systems were created for the customer-centric businesses, they can also be applied to B2B environments to streamline and improve customer management conditions. B2B relationships usually have longer maturity times. Many of the characteristics in the B2B market suggest that CRM is a factor which influences the business. Due to customer relationship this network can be established and extended. Extension causes the network not to increase benefits linearly, but in an exponential way. As new members can be contacted by any existing member the benefit of a network of 200 people is much more effective than one with 100. Hence, these networks can be used to increase the amount of available information for each company. The history of previous sales from this customer may be a great relief. Moreover it is possible to establish technical cooperationa bigger network. is more likely to provide special services. These services include systems integration, hosting, financial services such as payment processing, receivables management, credit analysis and logistics services. Services of this kind encourage companies to join the B2B network by using CRM. Furthermore, B2B hubs have another advantage as they can substitute external personal if members of the network liaise. The present paper will throw light on handling the customer relations in a better way in future.