Looks pretty cool, plus the Outlook plugin, for those millions of business users who are still shackled to using Outlook could be very interesting for anyone else looking to develop Open Source Outlook plugins. And the rest of the features look pretty nice too.

vtiger CRM – Free, Open Source, Customer Relationship Management

vtiger CRM

vtiger
CRM release 3.0 Beta is a web-based, free, open source Customer
Relationship Management (CRM) software mainly for sales people working
in small and medium businesses. Sales people can use vtiger CRM to manage
leads, accounts, contacts, and opportunities effectively. Also, they can
also track daily tasks, meetings, and e-mails smoothly.

First time vtiger Outlook Plug-in is released as open source project in SourceForge with features, such as synchronize contacts in Microsoft Outlook with vtiger CRM and vice-a-versa. Also, users can add all important customer e-mails in vtiger CRM.

The installation of vtiger CRM software is improved further allowing existing LAMP/WAMP users to install the vtiger CRM smoothly.

Key Features

• Microsoft Outlook Plug-in to synchronize contacts and add e-mails to vtiger CRM
• Powerful yet affordable On-Premise CRM software for business people
• Manage leads, accounts, contacts, and opportunities effectively
• Import leads from external sources, such as Microsoft Outlook, ACT,
  and other applications
• Convert leads as accounts, contacts, and opportunities
• Track tasks, meetings, and Emails continuously
• Import/Export accounts, contacts, and opportunities
• Attach documents to leads, accounts, contacts, and oppurtinities
• Powerful and sophisticated search capability
• Customize tab order using drag & drop
• Intuitive user interface with a list of interrelated records in each
  module
• And, an excellent customer service and support

What is Next

• Data Migration Utilities to import data from External Sources to vtiger CRM
• Industry specific pre-built Reports
• Sales Analytics and customizable dashboards
• Product Customization for various vertical markets
• More ….

(Found it on Freshmeat).