...CRM Business Report Should We Adopt a CRM System? Prepared for Western Governor’s University Course: RWT1 Prepared by Charles Carr August 10, 2009 Table of Contents Executive Summary ……….…………………………..………..……………..iv Introduction …..…….…………………………………………..….……………1 Benefits or advantages…………………………………………………………2 Cost or Possible Disadvantages……………………………………...………..3 Impact on our Business……………………………………………………….…4 What Is the estimated cost……………………………………………………….5 Conclusion & Recommendations……………………………………………….6 References…………………………………………………………………………8 List of Illustrations Marketing Effectives Table…………………………………………………………5 The options of Demand for CRM………………………………………………….6 iii Executive Summary This report analyzes the benefits and costs of implementing a customer relationship management system (CRM), and to determine the impact it will have on our business if we decide to adopt a CRM system. Benefits or Advantages Our firm has a great opportunity to benefit for implementing a CRM system, which could increase our customer service, increase our productivity, and increase our operational functionality. These benefits can be achieved by turning our raw data into competitive intelligences, which in turn will lead to increases in revenue. Costs or Possible Disadvantages If we do not plan the implementation process carefully, there is a 55 percent chance that our firm will not receive the full benefits of the...
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...presentation that I’m going to show you is about “The impact of CRM capability on innovation and performance advantages”. PRESENTATION My discussion is divided in that part: - Abstract show the motivation of this choose. not only the author’s motivation but also my motivation. - with Teory I would like to give you some key concept like the definition of Innovation and who signify for a firm to bring a new product in the market - Consequently I m going to show you the Main Research of Moustafa and Mahomed Battor from Tana University, Egypt, with their results - and in conclusion I will show you an example of application of that research into practice. I choose the new application of facebook produced by FedEx because at this time the most of the business is done in the social community and because it is a great example in which a big company promoting a new service or uses a new innovative way to promoting a existing services. Abstract CRM and INNOVATION are considered characteristics associated with competitive advantage. This presentation is about a research that investigates the mediating role of INNOVATION between CRM and PERFORMANCE on a firm performance because there is a lack of research on that. The authors use structural equation modeling to test the relationships among these constructs. At the end the results shows that: - the result supporting the impact of CRM and INNOVATION on performance - indicated that the indirect effect of CRM on firm performance through innovation is significant...
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...Information System Business Problem Dimensions IT/205 - MANAGEMENT OF INFORMATION SYSTEMS Information System Business Problem Dimensions The three dimensions of business problems are people, organization and technology. A business is useless with out competent people to run it. This can also be seen with information systems as people are needed to maintain them. An example of that would be the switches in Europe which are used by the military to communicate with personnel in the United States. It will be pointless to call this switch if the representative has no idea how to connect you to the United States. This also shows how valuable people are to any business. An example of organization would be developing a new product or hiring a new employee. Organization problems may arise with inadequate business practices due to the inherited practices from previous systems. Technology problems can range anywhere from software to hardware. If your software is outdated or you hardware is old then you may have problems with your information systems. Information technology is made up of the hardware and software that businesses or firms need to use so they may achieve their business objectives. Some of these are disk drives, handheld personal digital assistants, Ipods. These also include software such as windows and Microsoft office. Information systems on the other hand can be seen as components that collect, retrieve, process, store and distribute information...
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...Management 25 (2007) 65–82 www.elsevier.com/locate/jom The impact of enterprise systems on corporate performance: A study of ERP, SCM, and CRM system implementations Kevin B. Hendricks a,1, Vinod R. Singhal b,*, Jeff K. Stratman b,2 b Richard Ivey School of Business, The University of Western Ontario, London, Ont., Canada N6A-3K7 College of Management, Georgia Institute of Technology, 800 West Peachtree St., NW, Atlanta, GA 30332-0520, United States Available online 23 March 2006 a Abstract This paper documents the effect of investments in Enterprise Resource Planning (ERP), Supply Chain Management (SCM), and Customer Relationship Management (CRM) systems on a firm’s long-term stock price performance and profitability measures such as return on assets and return on sales. The results are based on a sample of 186 announcements of ERP implementations, 140 SCM implementations, and 80 CRM implementations. Our analysis of the financial benefits of these implementations yields mixed results. In the case of ERP systems, we observe some evidence of improvements in profitability but not in stock returns. The results for improvements in profitability are stronger in the case of early adopters of ERP systems. On average, adopters of SCM system experience positive stock returns as well as improvements in profitability. There is no evidence of improvements in stock returns or profitability for firms that have invested in CRM. Although our results are not uniformly positive across the different...
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...CUSTOMER RELATIONSHIP MANAGEMENT (CRM) EVALUATION: DIFFUSING CRM BENEFITS INTO BUSINESS PROCESSES Sigala, Marianna, University of the Aegean, Michalon 8, 82100 Chios, Greece, m.sigala@aegean.gr Abstract Although CRM is one of the fastest growing management approaches being adopted across many organizations and particularly tourism and hospitality firms, the deployment of CRM applications has not always delivered the expected results while many CRM initiatives have failed. Consequently, the inability of CRM applications to deliver expected benefits has not only intensified the validity of previous findings and claims regarding the ICT productivity paradox, but it has also boosted current research. However, although the latter provides anecdotal evidence of the impact of ICT management practices on CRM effectiveness, there is a lack of empirical studies examining the relationship between CRM management and performance aspects. This study aims to fill in this gap by investigating the relation between firms’ CRM applications and exploitation with their ICT management practices and CRM benefits. The investigation and validation of the former are valuable, since it would enable managers to maximize CRM benefits by identifying and allocating the appropriate resources, time and efforts to CRM implementation. Relations are tested by gathering data from Greek tourism and hospitality companies. Findings provide useful practical suggestions for CRM evaluation and implementation strategies...
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...group members, we managed to make the thesis easier to understand. We would also like to thank Halmstad University which has given us a good environment and the opportunity to undertake the dissertation in which we are interested. Also, many thanks to Company A which provided a large amount of information which forms the empirical data. Finally, we want to thank our families and friends. You gave us all support both emotionally and financially during the one year study, especially in the last five months for our dissertation. Halmstad August, 2011 I Abstract Customer Relationship Management (CRM) which focuses on the relationship with customers has become more and more important in business management. CRM is a managerial system based on technological applications which can help companies to get competitive advantages. In our paper, we focus on the CRM in the Chinese context and our purpose is to identify important factors during the management of customer relationship in China. We have studied one of the largest Chinese Telecom companies. The...
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...------------------------------------------------- The impact of the global recession within business The following is a report on how the Global Recession has impacted on Customer Relations Management and how more and more businesses worldwide have begun to adopt CRM systems in a bid to improve their business in the current economic climate ------------------------------------------------- The impact of the global recession within business The following is a report on how the Global Recession has impacted on Customer Relations Management and how more and more businesses worldwide have begun to adopt CRM systems in a bid to improve their business in the current economic climate Report by: Elaine McGrath Student K00121928 Limerick Institute of Technology Report by: Elaine McGrath Student K00121928 Limerick Institute of Technology Business Report The Impact of the Global Recession on CRM within business Elaine McGrath K00121928 (CRM) Customer relationship management is a business strategy for managing organisations interactions with their customers, their clients and their future sales prospects .It uses technology to organise and automate their business processes such as sales and marketing activities, customer service and technical support. According to a Goldman Sachs Study CRM is considered the second most important initiative after security for business. The overall goals of CRM are to seek out, find and win new clients and to implement strategies to...
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...ones. In order to do so, companies are always looking for the best alternatives than can be offered to their customers; thus trying to engage customers to long-term relationships through offering them products and services that they need the most. One of the best ways to achieve that is by starting to implement the Customer Relationship Management (CRM) strategy. Through this strategy companies will be able to acquire long term benefits, bigger customer base and a safe business future and this is exactly what this paper will show us. Here we are going to talk about CRM issues (barriers) and its implementation ways in banking industry. Many banks try to implement it; some of them fail to do it because they fail to execute its process correctly or lack management cooperation. The others that succeed construct a clear plan and train their employees effectively in order to execute it. More details about this research topic, how it works and how it fails, will be discussed. Table of Contents Abstract 2 Table of Contents 3 Introduction 3 Literature Review 4 CRM in Banking Industry 4 Implementation Barriers of CRM 4 How CRM can succeed 5 Conclusion 6 Works Cited 6 Introduction The world is evolving and as such, the customers’ demand for better services is growing vastly. According to Julie Nance, U.S. managing director for Medianet Innovation, so many things have changed during the last five years and that has affected the way business is done (Swann, 2007)....
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...Assignment 1 Purpose: The purpose of this report is to discuss the impact of technology on AIS and business processes based on the week 2 presentations. Business Processes: - Revenue Cycle -Acquisition Cycle - Conversion Cycle * Accounting Information Systems: -Collect data -Store Data -Use Data TECHNOLOGY Business is affected Business is affected by this theme? by this theme? -E-commerce -BI -CRM -SCM BI ERP -ERP -CRM -SCM -Cloud Computing -CRM -BI E-commerce Technology has made a big impact in how companies collect and use data as well as how companies increase profits, acquire materials and supplies, and convert those raw materials into the final product. One of the biggest impacts these technologies have made on accounting systems is to strengthen the ability of companies to develop and use computerized systems to track and record their financial information. Technology has shortened the time needed by the company to prepare and present financial information to management and allowing management to quickly create individual reports from stored data for management decision making. The technologies included in the diagram above also impact the business processes of a company with the use of innovations and creating the capabilities for users to understand their cash flow better, manage their storage costs, and enabling...
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...The Effect Of Customer Relationship Management (CRM) On Customer Satisfaction In Banking Sector by Abdelmenam Ahmed Deghady Supervisor : Dr. Ashraf Labib Table of Content CHAPTER 1 : INTRODUCTION................................................................................................3 1.1 Introduction..........................................................................................................................................................4 1.2 Research Problem.............................................................................................................................................5 1.3 Study Hypothesis................................................................................................................................................5 1.4 The study variables.............................................................................................................................................6 1.4.1 Independent variables.............................................................................................................................6 1.4.2 Dependent variables................................................................................................................................6 1.5 Research Objectives...........................................................................................................................................6 CHAPTER 2 : Research Methodology...
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...E-MARKETING OPPORTUNITIES AND CHALANGES Topic: E-CRM By, Gowthami Budarapu ABSTRACT: Customer Relationship Management (CRM) is a way to identify, acquire, and retain customers - a business' greatest asset. By providing the means to manage and coordinate customer interactions, CRM helps companies maximize the value of every customer interaction and in turn improve corporate performance. E-CRM, or electronic Customer Relationship Management, is an integrated online sales, marketing and service strategy that is used to identify, attracts and retains an organization’s customers. It describes improved and increased communication between an organization and its clients by creating and enhancing customer interaction through innovative technology. E-CRM software provides profiles and histories of each interaction the organization has with its customers, making it an important tool for all small and medium businesses. Internet-based companies need to remain competitive. One way of improving competitive advantage is to attract more customers and increase customer retention; for example, by developing long-term, secure relationships between the buyers and sellers. Little empirical research has been conducted on the link between customer relationship management and customer loyalty within an Internet, or e-commerce, context. Electronic Customer Relationship Management (ECRM) has become the latest paradigm in the world of Customer Relationship Management. ECRM...
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...August 31, 2006 Mr. Shubhankar Shil Lecturer School of business Independent University, Bangladesh Subject: Submission of the internship report. Dear Sir, With due respect, I would like to inform you that it is a great pleasure for me to submit the internship report on “The effects of customer service management on business performance in Bangladesh cell phone industry an empirical analysis” as requirement for BBA 499 program. Through out the completion of the report, I came to know about many things regarding the current world on the concept of customer service management on business performance. I have tried my best to put thorough effort for the preparation of this report. Any shortcomings or fault may arise as my unintentional mistakes. I will whole heartedly welcome any clarification and suggestion about any view and conception disseminated through this report. Sincerely Yours .…………………… Nayeemur Rahman Mia Id # 0210034 Contact: Mobile: 01711503442 E-mail: nayeemur@grameenphone.com Acknowledgement I would like to convey my respect to my course supervisor Mr. Shubhankar Shil, Lecturer, School of Business, Independent University, Bangladesh for his eager, helpful and enthusiastic guidance which encouraged me to accomplish this report on “The effects of customer service management on business performance in Bangladesh cell phone industry”. Without his incessant support this work would not have found the right track which I believe it did...
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...CRM In order for a company to be successful it must establish a positive relationship with its customers. Customer relationship management (CRM) involves building lasting relationships with internal customers as well as external customers. If a company fails at CRM they risk losing their customers to their competitors. CRM involves the tracking of customers and potential customers called prospects. ("What is CRM? | PCMag.com", 2013., p. 1) Managers whom are involved in CRM are generally looking at several different concepts such as Opportunity tracking, Prospects/Lead Generation, Email Integration, Automated Workflow, Collaboration and Reporting. ("What is CRM? | PCMag.com", 2013., p. 1) Opportunity tracking involves the manager knowing what deals the sales team may be working on. ("What is CRM? | PCMag.com", 2013., p. 1) This gives the manager leverage when trying to please customers and attract new ones. Prospects/Lead Generation involves managers being aware of any new customers that may need or want their products and / or services. ("What is CRM? | PCMag.com", 2013., p. 1) When a manager attracts a prospective customer and they buy into a product or service, the prospective customer changes to a regular customer. At this point the relationship changes towards maintaining that relationship by keeping that customer happy. ("What is CRM? | PCMag.com", 2013., p. 1) Email Integration involves creating open means of communication such as a Microsoft Exchange server or a cloud-based...
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...this era says that for a successful venture customer relationship management (CRM) is to recognized as a widely acceptable concept. In simple words to understand CRM we can consider it another name for the banker customer relationship. Macro-economic factors like globalization, liberalization and modernization has given it a new form. Today’s CRM requires real time interaction than that of the earlier times. Focus of various banks has changed from attracting customers to retaining as well as attracting new customers. Ensuring safety and at the same time efficiently utilizing resources is need of hour.The report presented is an initiative to address the issues and status of CRM with focus on evolution and background of this concept. How the technology has helped CRM in new age banking is also discussed here. | CRM IN NEW AGE BANKING | VIVEK SHARMA 10BSPHH011019 SECTION: C CONTENTS 1. Abstract 2 2. Introduction 3 3. Evolution of CRM 4 4. Customer relationship management 5 5. Overview of Indian banking sector 7 6. CRM in new age 12 7. Role of IT in CRM implementation 14 8. Present scenario 18 9. Conclusion 20 Abstract The pulse of this era says that for a successful venture customer relationship management (CRM) is to recognized as a widely acceptable concept. In simple words to understand CRM we can consider it another name for the banker customer relationship. Macro-economic...
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...Questions for Cases All groups need to prepare the PPTs and groups for presentations will be selected during the sessions 1. Infosys’s Relationship Scorecard 1. How does Infosys’ customer-centric organization compare with that of other companies? What challenges does this organization try to address? What tensions do these challenges create, and how does Infosys deal with them? 2. What is the role of the RSC in a customer relationship? What does an RSC offer that is not already contained in the client’s SLAs? What are the opportunities and challenges involved in building an RSC? 3. Infosys has learned through its RSCs that some customers are dissatisfied with its team turnover. How would you respond to Apted’s request to keep the best people in the Syngenta team? How would you deal with this issue from Syngenta’s perspective? 4. How should Sanjay deal with the challenges and tensions that have arisen with the use of the RSC? Could you help Sanjay design an action plan to improve the RSC? Should Infosys make it a priority for EMs to get their clients to embrace RSCs? Should Sanjay suggest using the RSC earlier in the relationship with a client? Is there any change that you would introduce to the content of the RSC? 2. Chantale and Clinton 1. What were Chantale and Clinton’s service expectations? How did they develop? 2. What is your evaluation of the Canadian’s provision of repair service? 3. Should The Canadian or other stores be concerned about incidents of this...
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