An intelligent transcription and automated record generation system and method are provided in which a record identification module can identify a record in a customer relationship management (CRM) database that is relevant to a call, and a voice recognition and transcription engine can process audio information from the call and transcribe voice data from the call to generate transcribed voice data. The calling party can be one or more of a caller who is making a call and a callee that is receiving the call. A record updater module can then automatically modify the record to include at least part of the transcribed voice data, and automatically add the modified record to the CRM database.