It's important to manage the entire customer lifecycle for all aspects of business; records, financial, support, and for the sake of the relationship itself.
Many businesses go about this by trying to manage the client lifecycle through multiple apps; they'll manage the lead using CRM software, then when it's a secured client, they transfer data and collaborate on projects using PM software, track time using an additional app, bill the client using a different app, and continue to do this for other business processes.
This can be detrimental to a business' efficiency and bank account. Why not incorporate the entire process into one central system? WORKetc is a great example of this - combining CRM, project management, time tracking, billing, support, email marketing, and other tools into one system that allows you to track the entire lifecycle of your clients - from beginning to end - under one app that you can run extensive reports from as well.
Everything you do with a client is recorded on that client's profile - all email correspondence, items you've worked on related to the client (i.e. leads, tasks, projects, timesheets), comments, files, etc. So - it takes little more than a glance at a contact's profile to be immediately informed on all aspects of that relationship.
I'd recommend looking into a tool like WORKetc before spreading your data and business processes through multiple apps, which could ultimately harm your business!