More than likely yes! If your current system can export to an excel spread sheet or if you have the information in Microsoft Outlook (or in a hotmail/MS Office Live acount).
The good news for Microsoft Office 2007/2010 Outlook users is with PSM quest (V6.8 and V6.8.1) this is an automated process, just the click of a button. If you currently track your Customer/Client and Vendor information in Outlook you will be able to perform an automated import of all of their contact information into PSM with a few mouse clicks, 10 or a thousand all the information will be added in less than a minute, addresses, emails, phone numbers, web addresses etc.
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