CRM (Customer Relationship Management) software allows companies to better understand their customers through collecting, storing and analyzing customer data across different departments and channels. This integrated approach aims to improve customer service, increase sales and boost profits. Major CRM software providers include Microsoft, Sage and SAP, with packages ranging in price from $5,000 to over $100,000 depending on features. Implementing CRM successfully requires focusing on core customer service goals and ensuring smooth integration with existing systems and processes.