Salesforce.com comes with a number of standard objects that you can use as soon as your Org is set up. They comprise the core functionality of the platform and most are customizable to some extent.
Since salesforce.com is by definition a CRM application, the account object is the heart and soul of virtually all processes in some way. Almost every object in salesforce.com is related to the account object in some way, by some relationship. Accounts represent your company’s customers, competitors, and other business partners that you interact with. Each account record stores information such as name, address, and phone numbers along with related information for contacts, opportunities, cases, activities, partners, contracts, and notes.
You can create accounts specific to companies, people, and/or partners depending on enabled features.
Accounts can be related to one another to create an “Account Hierarchy” to represent companies with different corporate structures (e.g., subsidiaries, divisions) and/or sales territories. Territory management is an account sharing system that allows users access to accounts based on some characteristics of the accounts (e.g., zip code, industry, revenue, or a custom field). It enables your company to structure and forecast your salesforce.com data and using the same way you structure your sales territories.
Your company can also enable multiple users (e.g., executive sponsor, account executive, support representative) to work together on an account. You can build an account team of users by role and specify the level of access each account team member will have to the account and any contacts, opportunities, or cases associated with that account.