With the increased fluidity of these programs was a less rigid relationship between sales, customer service and marketing. CRM has enabled the development of new strategies for more cooperative work between these different divisions through shared information and understanding with increased customer satisfaction from order to finished product. Today, CRM is still utilized most frequently by companies that rely heavily on two different aspects: customer service or technology. All three business sectors more dependent on CRM – and use it to great advantage – are financial services, a variety of high-tech companies and the telecommunications industry. The financial services industry, in particular, monitoring the level of customer satisfaction and what customers are looking for in terms of changes and customized features.
It also tracks changes in investment habits and spending patterns and changes in the economy. Specific software for the industry can provide financial service providers truly impressive votes in these areas. Who is in the CRM game? About 50% of the CRM market is divided among the top five players in the industry: PeopleSoft, Oracle, SAP, TeleMation Siebel and relatively new, based on Linux and developed by an old standard, Database Solutions, Inc. The other half of the market corresponds to a variety of other players, although Microsoft's new emergence in the CRM market may soon change causarun . If Microsoft can capture a market share remains to be seen. However, its brand name familiarity may give them an advantage to small businesses considering a first-time CRM package. PeopleSoft was founded in the mid-1980s by Ken Morris and Dave Duffield as a client-server based on the application of human resources.