As the name suggest, it’s basically the process of managing relationships with your customers. Nevertheless, by CRM we usually mean not the process of managing those relationships but rather the software solutions that help us do that. CRM platforms can potentially include any relevant info on your clients such as the history of your interactions with them, accomplished or pending business deals, prospective customers (i.e. leads), and so on.
As your business grows and you engage with more and more clients, the need for a platform to keep track of all the communication becomes obvious. Modern CRM platforms allow you to account for all the steps in the client relationship management process and keep all the data up to date in a single spot, sharing it with other members of your team.