Question
Download Solution PDFIn the context of CRM, what does the abbreviation SFA stand for?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFCustomer Relationship Management (CRM) is a process of managing a company's interactions and relationships with customers and potential customers.
Sales Force Automation:
- Sales Force Automation (SFA) is a technique of using software to automate business tasks.
- It is an integrated application of customizable Customer Relationship Management (CRM) tools that automate and streamline inventory, forecasting, leads, forecasting, performance, and analysis.
- SFA is often used interchangeably with CRM; however, CRM does not necessarily imply automation of sales tasks.
- SFA is also known as the sales force management system.
- All SFA systems are built with two core components:
- Content management system: Tracks customers, contacts, forecasting, activities, sales history and analytics.
- Sales lead tracking system: Tracks leads and opportunity pipeline data.
- SFA tools include Web-based (hosted CRM) and in-house systems.
- A web-based, hosted CRM, integrates the application service provider (ASP) model with cloud computing and is famous in small organizations without established CRM infrastructures.
- In-house SFA provides greater customization but is more costly than hosted CRM SFA packages.
- SFA is also known as Sales Automation (SA) software or CRM software.
Therefore, in the context of CRM, the abbreviation SFA stands for Sales Force Automation.
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