...This study about Customer Relationship Management in South Africa gives an important overview about the relationship between customers and companies nowadays in this region. The focus was a long term insurance company. Insurance are a significant part of the service sector and is revolutionizing the financial sector. The insurance companies generate total gross written premiums of 25.1 billion in 2010, a very lucrative business. In the last quarter of 2009 the South Africa economy decreased, due to this change insurance companies had to improve it customer relations and use technology tools for enhance the interaction and build a long lasting commitment with the customers. Insurance corporations are convinced that they need to generate loyal customers and CRM is an exceptional tool that helps to attain that goal. Before reviewing the results of the study, let’s address the CRM concept. CRM is a set of capabilities that helps organizations to enhance and build long lasting relationship through various processes, techniques and services. CRM is not a simple software development; it involves a technology, people and processes. For developing a CRM structure is important that all the organization be focused to a culture of customer loyalty. Market right now is increasingly competitive and the customer will stay with the company with the best service and knowledge about needs. Main characteristic of CRM are the instant response bases on customer information and the opportunity...
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...Customer Relationship Management (CRM) Services, Support, Sales, Marketing Jasim January 2016 Table of Contents Section 1 What is CRM Section 2 CRM in Telecom Business Section 3 Table of Content CRM within IT Landscape Section 4 CRM Data Source Section 5 CRM and Business Strategy Section 6 CRM and Organization Section 7 CRM as A Differentiator Section 8 Current Telecom Challenges Section 9 Current and Decision Making What is CRM ? “(CRM) is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth.” “Customer Relationship Management – in short CRM - is a customer-oriented strategy. The company and its processes are customeroriented. The aim is to increase customer satisfaction and long-term customer loyalty to the company. This can be achieved by an individual customer care.” Source: SearchCRM Source: SmartCRM A management philosophy according to which a company’s goals can be best achieved through identification and satisfaction of the customers' stated and unstated needs and wants. Source: BusinessDictionary What is CRM ? Customer Service Sales Marketing Customer Support CRM in Telecom Business Telecom operators are considering ...
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...Customer Relation Management role When thinking about CRM, do person think first (and often only) of one department in the company? For instance, some companies use CRM for sales management or to handle market segmentation and marketing campaigns. Others use it for knowledge management. And some companies use CRM in the customer service department providing service management. But the role of CRM can be more than just a tool for marketing or customer support, sales force automation. In fact, CRM can help automate business processes and integrate every client-facing department with service organization, resulting in increased customer satisfaction, long-term relationships and increased sales. The concept of CRM is premised on the simple logic of business : it must keep tracking customers once attracted; retain them in business portfolio and profit from their growth. CRM can be viewed in 4 ways * Firstly it is a existing response to the emerging climate of unprecedented customer churn, waning brand loyalty and lower profitability. * Second, CRM is central to the task of making an organization customer centric. * Third, CRM is the definite symbol embracing IT in business. * Fourth, CRM is the most certain way to increase value to the customers and profitability to the practicing organizations. What is so special in CRM programs which drive the customer back to the store? It can be better understood from 2 perspectives: Tangible benefit + Intangible...
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...Industrial Management & Data Systems Emerald Article: Adopting customer relationship management technology Yurong Xu, David C. Yen, Binshan Lin, David C. Chou Article information: To cite this document: Yurong Xu, David C. Yen, Binshan Lin, David C. Chou, (2002),"Adopting customer relationship management technology", Industrial Management & Data Systems, Vol. 102 Iss: 8 pp. 442 - 452 Permanent link to this document: http://dx.doi.org/10.1108/02635570210445871 Downloaded on: 24-11-2012 References: This document contains references to 18 other documents Citations: This document has been cited by 37 other documents To copy this document: permissions@emeraldinsight.com This document has been downloaded 11293 times since 2005. * Users who downloaded this Article also downloaded: * Injazz J. Chen, Karen Popovich, (2003),"Understanding customer relationship management (CRM): People, process and technology", Business Process Management Journal, Vol. 9 Iss: 5 pp. 672 - 688 http://dx.doi.org/10.1108/14637150310496758 Yun E. Zeng, H. Joseph Wen, David C. Yen, (2003),"Customer relationship management (CRM) in business-to-business (B2B) e-commerce", Information Management & Computer Security, Vol. 11 Iss: 1 pp. 39 - 44 http://dx.doi.org/10.1108/09685220310463722 Christopher Bull, (2003),"Strategic issues in customer relationship management (CRM) implementation", Business Process Management Journal, Vol. 9 Iss: 5 pp. 592 - 602 http://dx.doi.org/10.1108/14637150310496703 Access to...
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...Indian Institute of Management Bangalore Customer Relationship Management Faculty: Prof. G. Shainesh Term VI PGP (2008-09) 3 Credit Course Background – The primary purpose of any business is to win and keep customers. Its competitors also seek to do the same. Most successful firms have developed capabilities for attracting customers through their marketing programs. But they have shown mixed results when it comes to retaining these customers. Customer Relationship Management helps businesses in successfully implementing strategies aimed at winning and retaining customers profitably. It is also helping businesses shift from a short-term transaction based mode of operation in their interactions with customers to a long-term relationship mode. Objectives – The objective of this course is to help students understand the concept and practice of CRM derived from research and applications across businesses. These concepts and applications from real life case studies will help identify opportunities, which can be successfully implemented for long term profitability. Pedagogy – The teaching methodology will include a mix of lectures, discussions of pre-readings, presentations by practitioners, exercises and case analysis. The cases are integrative in nature but will also help develop an appreciation of specific elements of CRM. Group Project – Option 1 - Identify any organisation which is practicing some form of CRM. Start working with them to understand the...
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...2010.10.07. CRM – Customer Relationship Management Bianka Parragh, Phd Óbuda University Keleti Károly Faculty of Business and Management Institute of Enterprise Management • Approaches of Customer Relationship Management • The origins of CRM • The rise of CRM • The role of CRM • Types of CRM 1 2010.10.07. RE-INVENTING CRM In the late 1990s and early year of the 21th century, CRM was offered up as the next wave of marketing. The tools and techniques that would make traditional marketing obsolete. The automated approaches that would make customer relationships automatic and would enable the marketing organization to shell anything to anyone they chose. CRM was the single solution that would solve every marketing problem. Simply install the software, plug in the customer data and sit back and watch the profils roll in. But it wasn’t that simple. It wasn’t that easy. And, it simply didn’t work that way. Millions of dollars anp pounds and yen and Euros were spent on CRM systems, software and structures but, not enough seemed to come back. The five important things are about the book’s approach to CRM 1.Strategic, not more tactics. CRM is a business decision, made by business managers to achieve business goals. So, most of all, this approach to CRM is strategic. 2. Customers, not companies. Payne’s approach puts the company and the customer in perspective. If there is no benefits to the customer, there can be no benefit to the company. CRM is reciprocal process...
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...MANAGEMENT INFORMATION SYSTEM PT. INDOSAT Tbk. Trisakti University 2011/2012 GROUP MEMBERS : MELATI DWI ALFARINA 022091010 RIAN AGUSTIAN 022091049 UMI KULSUM 022091060 WORD OF AUTHOR Praise and thank for Allah presence, who upon His grace writers can complete a paper titled "Customer Relationship Management in PT. Indosat tbk”. Writing this module is one of the tasks and requirements to complete the course of Management Information System University majoring in management. In writing this paper the author feels there are still many shortcomings both in technical writing or material, considering the capabilities of the author. Criticism and suggestions from all parties is the hope of the authors for the sake of improving this paper. The authors also would like to thank the infinite to the parties that helped in completing this research, especially to : 1. Mrs. Diah Arlita SE, MBs who have spent her time, energy and mind in the implementation of the guidance, direction, encouragement in relation to the preparation of this paper. 2. Mr. Ade Rizky from Indosat who have helped us provide information we need pertaining to complete this module. 3. All collegers in the Excelent Class of Manajement, 2009. 4. In particular the authors express gratitude to loved ones who have provided encouragement and assistance and understanding of the authors, both during the lectures and in completing this module. 5. All parties that can not be mentioned one by one, whom had provided assistance...
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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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...RELATIONSHIP MANAGEMENT | CRM IN BANKING INDUSTRY | Submitted by- Kartikeya Vairagare 046 laxita Chauhan 048 Manvendra Gautam 050 Mohit dave 053 Pranit Bhagat 055 Piyush Shende 057 Shambhavi Singh 078 | Introduction In recent time, we has witnessed that the World Economy is passing through some intricate circumstances as bankruptcy of banking & financial institutions, debt crisis in major economies of the world and euro zone crisis. The scenario has become very uncertain causing recession in major economies like US and Europe. This poses some serious questions about the survival, growth and maintaining the sustainable development. However, amidst all this turmoil India’s Banking Industry has been amongst the few to maintain resilience. The tempo of development for the Indian banking industry has been remarkable over the past decade. It is evident from the higher pace of credit expansion, expanding profitability and productivity similar to banks in developed markets, lower incidence of non- performing assets and focus on financial inclusion have contributed to making Indian banking vibrant and strong. Indian banks have begun to revise their growth approach and re-evaluate the prospects on hand to keep the economy rolling. 1. HISTORICAL BACKGROUND Bank of Hindustan was set up in 1870; it was the earliest Indian Bank. Later, three presidency banks under Presidency...
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...Management Master of Science Degree Crucial Factors in Customer Relationship Management A Chinese Perspective of the Telecommunication Industry Dissertation in TPA, 15 ECTS Authors: Song Yan 880514-T168 Wei Bin 850809-T454 Supervisor: Joakim Tell Examiner: Bernd Hofmaier Acknowledgement Thank all persons who have contributed to our dissertation. Without you, we would not have reached the achievement. With the support and encouragement from Joakim Tell, our supervisor, we got a lot useful guidance when there were confusions. With useful advice from Henrik Floren and Bernd Hofmaier, we kept improving our dissertation in a professional way. With the positive feedback from the other 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...
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...Customer relationship management entails all aspects of interaction that a company has with its customers, whether it is sales or service-related. While the phrase customer relationship management is most commonly used to describe a business-customer relationship, CRM systems are also used to manage business contacts, clients, contract wins and sales leads. How CRM is Used Today CRM solutions provide you with the customer business data to help you provide services or products that your customers want, provide better customer service, cross-sell and up-sell more effectively, close deals, retain current customers and better understand who your customer are. Organizations frequently look for ways to personalize online experiences (a process also referred to as mass customization) through tools such as help-desk software, email organizers and different types of enterprise applications. CRM Usability CRM software has typically been considered difficult to use. As an enterprise application, stability, scalability and security has been the primary focal points of CRM solutions. Usability, according to this Enterprise Apps Today article, was not a key part of CRM which often resulted in failed software projects, largely attributed to undue complexity. With increased adoption of CRM applications, however, today's CRM software vendors make usability a central part of their products. To improve usability many vendors today focus on usability issues to make CRM workflow as simple and...
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...Chapter 1 Introduction to customer relationship management This page intentionally left blank Chapter objectives By the end of this chapter, you will be aware of: 1. 2. 3. 4. 5. 6. four major perspectives on CRM: strategic, operational, analytical and collaborative several common misunderstandings about CRM a definition of CRM the six constituencies having an interest in CRM how important CRM issues vary across industries five generic models of CRM. Introduction The expression customer relationship management (CRM) has only been in use since the early 1990s. Since then there have been many attempts to define the domain of CRM, a number of which appear in Table 1.1. As a relatively immature business or organizational practice, a consensus has not yet emerged about what counts as CRM. Even the meaning of the three-letter acronym CRM is contested. For example, although most people would understand that CRM means customer relationship management, others have used the acronym to mean customer relationship marketing.1 Information technology (IT) companies have tended to use the term CRM to describe the software applications that automate the marketing, selling and service functions of businesses. This equates CRM with technology. Although the market for CRM software is now populated with many players, it started in 1993 when Tom Siebel founded Siebel Systems Inc. Use of the term CRM can be traced back to that period. Forrester, the technology research organization, estimates that...
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...IMPLEMENTATION OF CUSTOMER RELATIONS MANAGEMENT AT ANZ BANK Table of Contents 1.0 Introduction 3 2.0 Company Background 3 3.0 SWOT Analysis 4 4.0 CRM Project Objectives 4 5.0 Selected CRM Suite and Analytical Capabilities 5 6.0 Infrastructure Requirements 10 7.0 Training 11 8.0 Timeline 12 9.0 Budget 14 10.0 Conclusion 14 References 15 Implementation of Customer Relations Management at ANZ Bank Introduction Customer Relations Management (CRM) is the integration of people, processes, and technology to maximise relationships with its customers (Goldenberg, 2003, p.7). It involves a comprehensive approach that provides seamless coordination between all customer-facing functions through technology, which is used to organize, automate, and synchronize sales, marketing, customer service and technical support. The main aim of the CRM initiative is to facilitate the use of technology and human resources to gain valuable insights into the behaviour and value of its customers (Onut et al., 2002, p.3). This is particularly very instrumental in the banking sector (Yao & Khong, 2012, p.151). CRM programs are associated with improved financial performance, customer loyalty and satisfaction. Company Background The Australian and New Zealand Banking Group (ANZ bank) is the third largest bank in Australia and the largest bank in New Zealand in terms of market capitalization. Australian operations...
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...INTRODUCTION TO CRM 1.1 INTRODUCTION [pic] CRM, or Customer relationship management, is a number of strategies and technologies that are used to build stronger relationships between companies and their customers. A company will store information that is related to their customers, and they will spend time analyzing it so that it can be used for this purpose. Some of the methods connected with CRM are automated, and the purpose of this is to create marketing strategies which are targeted towards specific customers. The strategies used will be dependent on the information that is contained within the system. Customer relationship management is commonly used by corporations, and they will focus on maintaining a strong relationship with their clients. There are a number of reasons why CRM has become so important in the last 10 years. The competition in the global market has become highly competitive, and it has become easier for customers to switch companies if they are not happy with the service they receive. One of the primary goals of CRM is to maintain clients. When it is used effectively, a company will be able to build a relationship with their customers that can last a lifetime. Customer relationship management tools will generally come in the form of software. Each software program may vary in the way it approaches CRM. It is important to realize that CRM is more than just a technology. Customer relationship...
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...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 factors...
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