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    DMM09Customer Relationship Management

    Assignment I

    Assignment Code: 2013DMM09A1 Last Date of Submission: 15th April 2013 (for old PhD)15th May 2013 (for ACM)

    Maximum Marks: 100

    Attempt all the questions given at the end of the Case. All questions carry equal marks.

    Case Study

    CRM IN BANKING : A CASE STUDY OF ICICI BANK

    Globally, regulation and technological improvements are responsible for the vast majority of innovations in

    banking over the past quarter century. The introduction of personal computers and the proliferation of ATMs

    in the 1970s captured the bank managements attention. The regulatory changes in the 1980s fuelled much

    of the industrys growth, which was followed by downsizing as bankers focused on creating a market

    presence which resulted in significant merger activity. Recent technological improvements are at the root of

    the bankers focus as well as a target for their significant investment today. In fact, according to recent

    projections, bankers and their financial service company brethren will spend almost $ 7 billion this year on

    CRM and increase that by 14 per cent each year for the next several years.

    Why CRM? The Changing Environment

    The environment within which financial institutions operate has changed in recent years. It is now one of:

    Increased competition

    Growing product commoditization, and

    Diminishing margins

    Banking customers have also changed in recent years. Customers today are more knowledgeable,

    sophisticated and assertive than ever before. They demand higher levels of customer service, are less

    loyal, and more inclined to switch to a competitor. Modern customers thus necessitate flexibility in hours of

    operation, greater convenience, customization, transparency, accessibility and control.

    This has led to a shift in business focus from transactional to relationship marketing.

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    CRM Strategy

    Customers are the lifeblood of the business and the way in which a bank can protect and increase its

    customer base and ultimately its profitability is to build strong customer relationships through the

    delivery of superior quality service and to meet customer needs better than the competitors. The CRM

    approach focuses on maximizing value for the customer and the bank.

    Research has shown that the key drivers of customer loyalty are:

    Positive staff attitude Honesty, integrity and reliability

    Proactive advice and deliver of promise

    Consistent delivery of superior quality service

    Simplicity and ease of doing business

    Good after-sales service

    A fair effective complaints resolution policy.

    Focus on ICICI Banks Initiatives

    The use of CRM in banking has gained importance with the aggressive strategies for customer acquisition

    and retention being employed by banks in todays competitive milieu. This has resulted in the adoption of

    various CRM initiatives by these banks to enable them achieve their objectives.

    The steps that banks follow in implementing CRM are:

    Identifying CRM initiatives with reference to the objectives to be attained (such as increased

    number of customers, enhanced per-customer profitability, etc.),

    Setting measurable targets for each initiative in terms of growth in profits, number of customers,

    etc. and

    Evaluating and choosing the appropriate CRM package that will help the company achieve its CRM

    goals (a comparison of pay-offs against investments could be carried out during the evaluation

    exercise).

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    CRM has been deployed in retail banking. The challenges in managing customer relations in retail banking

    are due to the multiple products being offered and the diverse channels being used for the distribution of the

    products. Customer expectation from banks can be summed up as:

    Any time anywhere service, personalized offers, and lower payouts.

    Aggressive marketing and promotions on the part of the banks have resulted in most customers happily

    switching loyalties to enjoy better privileges, thereby making the task of retaining them more difficult for the

    banks.

    The use of CRM in banking has been essentially done for the following purposes:

    Targeting customers

    It is necessary for banks to identify potential customers for approaching them with suitable offers.

    The transactional data that is generated through customer interactions and also by taking into

    account the profile of the customer (such as the lifecycle stage, economic background, family

    commitments, etc.) needs to be collated into one database to facilitate its proper analysis. For

    example, a customer interacts with the banks for savings accounts, credit cards, home loans, car

    loans, demat accounts, etc. the data generated through all these services needs to be integrated to

    enable effective targeting. After the integration is done, a profitability analysis of the customer

    needs to be undertaken to acquire an understanding of the profit-worthiness of the customer before

    targeting him with new offers.

    Sales reference material

    A consolidated information database on all products, pricing, competitor information, sales

    presentations, proposal templates and marketing collateral should be accessible to all the people

    concerned. These prove to be very helpful in Sales Force Automation (SFA) wherein the

    salesperson gets instantaneous access to all relevant material as and when it is required

    (especially when he/she is in a meeting with a client.)

    Consistent interface with customers

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    The communication to customers from various departments like sales, finance, customer support,

    etc. should be consistent and not contradictory. Therefore, all departments should be privy to a

    unified view of the customer to enable a consistent approach. Removal of inconsistencies is

    necessary to ensure that customers are not harassed and frustrated owing to poor internal co-

    ordination. This is bound to enhance customer satisfaction. The contact centres used to interface

    with customers should ensure consistency in customer interaction, irrespective of the medium used

    for the interaction such as telephone, Internet, e-mail, fax, etc.

    Banks can use the data on customers to effectively segment the customers before targeting them. Proper

    analysis of all available data will enable banks to understand the needs of various customer segments and

    the issues that determine value for that segment. Accordingly, suitable campaigns can be designed to

    address the issues relevant for that segment and to ensure higher loyalty from these customers. When

    data analysis is done in the right manner, it helps in generating opportunities for cross-selling and up-

    selling.

    ICICI Banks CRM Initiatives

    ICICI Bank has to manage more than 13 million customers. The bank has over 550 branches, a network of

    2025 ATMs, multiple call centres, Internet banking and mobile banking. Its customers often use multiple

    channels, and they are increasingly turning to electronic banking options. Business from the Internet. ATMs

    and other electronic channels now comprises more than 50 per cent of all transactions.

    In the process of making its business grow to this level, ICICI Bank has distinguished itself from other banksthrough its relationship with customers.

    The Teradata solution focuses on a CRM platform. Information from various legacy and transaction

    systems is fed into a single enterprise called wide data warehouse. This allows the bank to generate a

    single view of its customers. The warehouse has the capability to integrate data from multiple sources

    comprising Oracle and flat files. The Behaviour Explorer enables profiling of customers and querying on

    various parameters. These enable the bank staff create suitable campaigns for targeting individual

    customers on the basis of their requirements.

    The logistics in the system have also led to other benefits like interactive reports, unearthing cross-selling

    opportunities as well as finding out about the channel usage undertaken by a segment. The data access

    was facilitated through the use of Cognos Power Cubes.

    The Benefits of CRM

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    Customers usage pattern

    ICICIs CRM data warehouse integrates data from multiple sources and enables users to find out

    about the customers various transactions pertaining to savings accounts, credit cards, fixeddeposits, etc. The warehouse also gives indications regarding the customers channel usage.

    New product development

    Analysis at ICICI guide product development and marketing campaigns through Behaviour

    Explorer, whereby customer profiling can be undertaken by using ad hocqueries. The products

    thus created take into account the customers needs and desires, enabling the bank to satisfy

    customers through better personalization and customization of services.

    Central data management

    The initial implementation of CRM allowed ICICI to analyse its customer database, which includes

    information from eight separate operations systems including retail banking, bonds, fixed deposits,

    retail consumer loans, credit cards, custodial services, online share trading and ATM.

    Some Noteworthy CRM Initiatives of ICICI Bank

    Mobile ATMs

    Customers of ICICI Bank can access their bank accounts through mobile ATMs. These ATMs are kept in

    vans and parked at locations that have a high traffic of bank customers such as the commercial areas in a

    city or upmarket residential areas ICICI Bank now provides standard ATM facilities through ATM vans. This

    facility has been tried at Mumbai, Chandigarh and various places in Kerala during specified timings.

    Table Mumbai Mobile Van

    Timings Locations

    9.00 am to 10.00 am Junction of Nehru Road and M.O. Road, near

    Ram temple, Vile Parle (E)11.00 am to 12.00 noon Opp.J.W. Marriott Hotel, Juhu1.00 pm to 2.00 pm Lokhandwala Circle, Andheri (W)3.30 pm to 5.00 pm Outside Vasanth Sagar, 120 ft. Road, Hakur

    Village, Khandivali (E)

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    Bulk Deposits

    The ICICI Banks Bulk Deposit ATMs enable customers to deposit large amounts at one time. Unlike

    conventional ATMs, which are able to accept only 30 notes at a time, these ATMs allow the deposit of huge

    amounts. The Bulk Deposit ATM is available in Mumbais Vashi sector branch office of ICICI.

    The bulk deposit facility can be availed of by select customers who need to deposit huge amounts of cash.

    ICICI Bank issues a special card called the `Deposit Only Card to facilitate this service. This card allows

    for deposit transactions only. The service is further facilitated by the provision of special bags at ATMs in

    which a customer can put his money. After the deposit slip is filled, the bag can be inserted in the ATM.

    The transaction slip is then generated by the ATM as an acknowledgement of the deposit. ICICI Bank also

    has cash pick-up service for business customers under the business banking segment.

    ATMs for the visually challenged

    ICICI Bank has launched ATMs with special voice-guided systems, which guide a visually challenged

    person to access ATMs without any help. The jack on the terminal enables headphones to be connected to

    it and voice commands enable the customer to transact business. Customers may choose a suitable

    language to get voice commands. After the language selection is done, the customer is guided to ensure

    that the ATM card is inserted in the right slot and thereafter, guidance is provided for entering the PIN by

    using the keypad. A raised button is provided on number 5 to enable users to identify the numbers easily

    through touch. The slot for cash collection has such raised `pips that enable easy identification throughtouch.

    Other Services through ATMs

    Apart from the usual transactions involving the bank, some other services can also be availed of by ICICI

    Bank customers. These include:

    Prepaid mobile recharge

    Buying and renewing Internet packs (such as those of TATA Indicom Internet service provider and

    Sify).

    Making donations for Tirupati Tirumala Devasthanams, Nathdwara temple and Shri Mata

    Vaishnodevi shrine.

    Mutual fund transactions, and

    Bill payments

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    Mobile phone as a Virtual Wallet

    The mobile phone has been transformed into a virtual wallet a new innovation in mobile commerce. On

    September 19, 2005, Airtel, ICICI Bank and VISA announced the launch of mChq a revolutionary new

    service which is a credit card using the mobile phone. This is the first mobile-to-mobile payment option

    which enables Airtel customers and ICICI Bank Visa cardholders to pay for their purchases with their Airtel

    Mobile phones. The service has eliminated the need for carrying physical cash for making a purchase and

    also the problems associated with the point of sale (POS) terminal since the mobile phone services as a

    secure POS and a payment mechanism.

    Social Events

    ICICI Bank organized the largest domestic invitational amateur golf event for HN1 (high-net-worthindividuals) customers. This nation-wide golf tournament had over one lakh high-net-worth clients of ICICI

    Banks private banking division participating in the event.

    Mobile Banking Benefits

    Mobile banking enables the customer to avail of many facilities by just sending an SMS. These facilities,

    which are currently offered free of cost, are as follows:

    Locating ATM

    Locating branch

    Locating drop box

    Alert facilities like salary credit, account debit/credit, cheque bounce, etc., and

    Queries on banking, cards and demat account

    Case Questions

    1. Explain the initiatives take by ICICI Bank to promote CRM.

    2. Discuss the benefits of the initiatives taken by ICICI Bank to promote CRM.

    3. What should be the core elements of CRM that ICICI bank in your opinion should follow, besideswhat they are already following to make themselves a distinct bank from their competitors?

    4. Outsourcing CRM is one activity that most organizations follow. Is it a viable option. Give your

    views keeping in mind the cost involved in implementing CRM and enhancing business also.

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    DMM09Customer Relationship Management

    Assignment II

    Assignment Code: 2013DMM09A2 Last Date of Submission: 15th May 2013 (for old PhD)15th May 2013 (for ACM)

    Maximum Marks: 100

    Attempt all the questions given at the end of the Case. All questions carry equal marks.

    Case Study

    BPO in CRM

    Introduction

    Winning the market share by offering world-class customer service is an important method adopted by

    many companies. Customer relationship management (CRM) is one of the customer care services which

    provide companies with an opportunity to retain customers and also attract new markets for their products.

    Significance of CRM

    Customer retention by offering better customer services is very significant for any business enterprise. The

    slowdown in the global economy and tough competition among the enterprises have forced companies to

    focus at cost containment and growth in profitability. Managing a good relationship with customers is the

    only key to success and the only means of ensuring the survival of the business. The concept of customerrelationship management (CRM) helps companies not only to retain existing customers, but also to widen

    their customer base. The cost of retaining a customer is one-fifth the cost of acquiring a new customer.

    CRM helps in tracking marketing opportunities better and in focusing on those customers who increase not

    only the sales/volume of a company but also its profitability. CRM is defined as the process of tracking

    customer behaviour in order to develop marketing and maintain customer relationship in case of a brand

    often by a development of software system. The system provides one-to-one contact between the

    marketing business and its customers. CRM is a business strategy which includes the people, processes,

    and technology associated with marketing and service. It provides information to facilitate every corporate

    activity from marketing to fulfillment.

    CRM embodies six key disciplines; sales force automation; marketing automation; help desk, appropriate

    softwares, data input, and call centre. CRM technology works on the promise of retaining customers and

    boosting the top line, which is significant and continues to resonate with in an environment where

    companies are trying to survive a tough economy. Apart from customer relationship management, CRM

    also pertains to customer relationship marketing and continuous retention marketing.

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    CRMs largest vendors such as Siebel, People soft, Oracle, and SAP will continue to grow and expand their

    reach into newer application segments such as marketing automation, partner relationship management

    and even employee relationship management.

    ICICI Bank, HDFC Standard Life, UTI (Axis Bank) and ABN-AMRO are now implementing business process

    management to increase returns on investment, and to improve customer relationship management and

    employee productivity.

    The worldwide CRM services market touched $22 billion in 2002-03, a 10.6 per cent increase from the

    preceding year, according to the Gartner Group. This market hit $ 25.3 billion in 2003-04, and $ 47 billion

    by 2006, according to this group.

    The CRM market in India has witnesses healthy growth and the CRM software market is growing at aCAGR of 40 per cent and reached Rs 188 crores in 2006.

    IBMs 2004 Global CRM Survey

    According to the 2004 Global CRM Study conducted by IBM Business Consulting Services, 85 per cent of

    the companies in America, Europe and Asia, both large and small, across every industry, do not feel fully

    successful in implementing CRM. Fewer than 15 per cent of the global companies believe that they are

    succeeding fully with their CRM initiatives, while another 20 to 30 per cent have had only some success.

    The survey was conducted in late 2003 and early 2004 on 373 senior level management decision-makersor influencers in a mix of small, medium and large enterprises, to understand how companies attain CRM

    success and achieve significant return on investment. More than half of the respondents companies had

    annual revenues exceeding US $ 50 million; 30 per cent of the respondents reported annual revenues of

    US $ 1 billion to more than US $ 50 billion.

    Despite the dismal results, CRM continues to hold great promise for most companies. Over 50 per cent of

    the 373 companies surveyed believe that CRM is relevant to increasing performance from a shareholder

    value perspective. Of those interviewed, 75 per cent consider CRM important in delivering revenue growth

    through improved customer experiences, retaining and growing existing customer bases, increasing

    customer acquisition rates and influencing the development of new products and services.

    A successful CRM strategy should be at the heart of every business model which focuses on a virtue of

    flexibility, real-time responsiveness, and a laser focus on the customer.

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    Approaches to CRM Success

    The Global Research Survey found that the two approaches most consistently cited as requirements for

    CRM success were `change management such as training employees to use CRM processes, tools and

    policies; and `process change such as involving employees in the process of designing and changing CRM

    activities. The right action taken facilitates commitment to CRM throughout the company that, in turn,

    translates into sustained value.

    The key faults which can cause CRM projects to fail or prevent delivery of the expected returns on

    investment include too much dependence on technology and systems as a panacea for the ills. In other

    words, organizations downplay the importance of senior management buy-in which, in turn, leads to

    lukewarm adoption of CRM by employees.

    The IBM study reveals the great promise that CRM holds in driving customer value and increasingorganizational performance when it is done correctly. In the end, making CRM effective depends on culture

    and the creation of broad acceptance and adoption. Successful CRM can transform a company, helping it

    to grow more profitably by serving its customers more intelligently. At its best, CRM does more than just

    automate a call centre or improve a sales report; it can transform a company culturally, structurally and

    strategically.

    P-Factors in Implementation

    For implementing CRM, the company has to start with three P-factors, namely people, processes, andplanning. The P factors affect sales, productivity, service and profitability. A good management of the

    organization and the right mix of these factors will help the company grow and prosper.

    People Factor

    A positive interaction among employees, customers, and vendors will create a successful enterprise.

    Contact with the customers and vendors is essential to understand their likes and dislikes in relation to a

    companys products and pave the way for further improvement of the companys business. The next

    people factor is employees. If there are complaints from employees about the customers, vendors and

    other departments, or complaints about employees from customers and vendors, the gaps have to be

    bridged before a CRM initiative can be started.

    The importance of a favorable peoples change towards the work and interaction with each other is a

    valuable contributor to the successful implementation of the CRM concept. Establishing a consistent

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    process of reviewing and resolving contentious issues will create a good image of the companys

    management. Efforts must also be made to ensure that employees, customers and vendors have a positive

    perception of the company.

    Process Factor

    The success of CRM is also influenced by the process factor. Before introducing a new technology, the

    company management needs to review the business and workflow processes. While reviewing the

    workflow, it is essential to look at the natural flow of orders, product and information. It is also important to

    assess the process at the source of the order namely the Internet, mail or the call centre, and continue the

    assessment through the shipment of product. This will enable the management to identify any bottlenecks,

    employee conflicts and inter-departmental issues. Once these are mitigated, the next step is to document

    the procedures, policies and processes.

    Planning Factor

    Planning is a particular kind of decision-making which addresses the specific future that managers desire

    for their organizations. A well-developed plan will allow managers to stretch boundaries and achieveorganizational goals.

    The primary features of a good plan are:

    Specific particulars: Each goal and the step must be indicated, for example, `increase customer

    retention by 20 per cent.

    Responsibility: The responsibility of completing a task should be assigned to a team or person

    Deadlines: Specific deadlines and contingencies need to be mentioned

    Flexibility: Modifications should be made in the plan when necessary

    Integration: The area affected by CRM must be integrated into the plan

    Metrics: It is essential to lay down benchmarks in order to measure success or failure.

    Addressing the P factors will result in small gains initially and later, there will be tremendous growth in

    profitability. There will be a rise in sales, decline in cost, creation of satisfactory customers and motivation

    of employees.

    How do Companies Succeed in CRM?

    Across the world, there are some companies that are successful in establishing customer relationships

    while others are not. Numerous reasons can be attributed for this. George Day, Marketing Professor at the

    Wharton Business School provided the answer after surveying 342 companies. He classified the

    companies that pursue a CRM strategy into three groups.

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    The first and the most successful are companies that have market-driven approaches. This approach

    makes CRM a core element of a strategy that aims to deliver superior customer value through complete

    solutions, superior service and a willingness to cater to individual requirements. Technological support can

    then be used to speed up business processes which will save the customers time and effort.

    The second rung consists of companies who use inner-directed CRM initiatives. These companies want to

    get a better picture of their internal processes, with the objective of organizing data to cut service costs and

    help improve marketing targets. However, these companies assign operational tasks to the IT department,

    which does not have much to do with the operational strategy.

    Finally, there are companies that use a defensive approach to CRM, by way of using loyalty programmes

    and reward. This is essentially a reactive strategy and, at best, helps the company maintain a status quo in

    the market.

    Limitations of CRM

    The business objectives of achieving CRM seen more like distant mirages when companies come across

    the potholes, traffic jams and drivers indulging in road rage, that lie in between.

    It costs hundreds of thousands of dollars to buy and customize the software and hardware systems and it

    takes months, if not years, to install, integrate and debug them. The process requires endless meetings

    with the IT staff, who is generally in short supply, command huge wages, and may not have all the skills to

    get it right.

    Further, the business enterprises may not have the screening and training modules, or have the time to

    develop and deploy them to sift out agents for contacts.

    CRM is essentially about value. But this is not achieved simply by putting more people on the phones. The

    businesses have to offer a broad, integrated range of services including live agents and technology, backed

    by market analytics, each of which needs to be deployed to advantage.

    The implementation of CRM is a challenge. Most managers are reluctant to measure parameters to

    monitor progress before and after a CRM exercise. This is because it could show how well or inefficiently

    the manager has implemented the CRM programme.

    CRM has become a senior management issue because it entails staggering costs, and notwithstanding the

    success stories, has mostly proved to be a disappointment. Companies around the world spend $ 3.5

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    billion a year on CRM software and this constitutes only a fraction of the total expense. Implementation,

    training, and integration outlays can be three to five times higher. Further, it takes three years to complete

    the implementation.

    Outsourcing CRM

    In order to overcome the limitations of the CRM approach practised by the companies themselves, the latter

    contact the outsourcing bureau or service provider to find the solution. This will facilitate a faster and less

    bumpier alternative CRM route to reach the business destination. The outsourcing provider or bureau

    provides a CRM platform which offers an integrated blend of live agent and automated interactive voice

    recording (IVR), Web and e-mail services, connected with contact management, and if needed, integration

    with the existing database of the business enterprise.

    With many service providers having entered the CRM game, companies now have almost too many

    choices. There are database providers and call centres. They are communications specialists. Mostadvertising agencies have their own direct marketing arms. Further, there are technology vendors. With all

    these, getting started on CRM should not be a problem.

    Outsourcing CRM can reduce customer retention costs, without compromising the responsiveness,

    accuracy, availability and quality of customer service. In addition, businesses should strive to increase both

    their efficiency and quality, and derive greater profits to boost their bottom lines.

    By outsourcing CRM and intelligence, companies can achieve powerful analytics with less payroll

    overheads. Meanwhile, suppliers are delivering greater personnel accountability and ability to accesssoftware, technology and skill sets that are otherwise not available to a single company. A few suppliers

    promise greater revenue, reduced marketing costs and a shortened cycle time.

    Many companies have decided to outsource all or part of their CRM technology, applications and/or

    business processes to achieve improved processes, business improvement, more effective customer

    service, increased competitive advantage and a demonstrated return on investment (ROI).

    According to a survey reported in Tele Professional magazine, Companies who fully outsource CRM had

    the most favorable results. This is reflected in a greater ten-year average return to investors, a higher

    average ten-year annual growth rate and a larger average percentage change in annual earnings per

    share.

    Off shoring CRM Locations

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    A large number of companies around the world have set up thousands of offshore call centres to provide

    integrated customer service solutions. Australia has about 4000 call centres employing 2,25,000 people

    with a revenue of US $ 7 billion. Similarly, India has nearly 1000 companies employing over 1,00,000

    people with revenue of US $ 1 billion. Philippines and Ireland have 70 and 500 companies, employing over

    12,000 and 40,000 people, respectively.

    Elements of CRM Outsourcing

    Outsourcing of CRM includes the following elements:

    Customer Support: This comprises value-based phone support, e-mail response, live chat and co-

    browsing and instant messaging.

    Telemarketing and Telesales: This covers outbound calling for generating leads, and campaign

    management, and for cross-selling and up-selling to existing customers.

    Employee IT Desk: This comprises level one and two multi-channel support for internal

    applications, system problem resolutions related to desktop, notebooks, shrink-wrapped products,

    connectivity, office productivity support tools including browsers and mail, new service requests, IT

    operational issues, and remote diagnostics.

    Thames Water, UK is a good example of CRM outsourcing in the utilities industry. Thames Water has

    signed a business process outsourcing deal with Xansa to offshore to India its metered billing expenses and

    customer correspondence operations. Its BPO service will handle over 7,00,000 transactions a year and in

    one month, it has already handled predicted volumes and cleared a backlog of an extra 17 per cent of the

    transactions.

    Vital Reasons to Outsourcing CRM

    The compelling reasons for outsourcing CRM are listed below:

    Cost reduction

    Introduction of specialist manpower

    Improved customer service

    Insight into improved customer service

    Access to cutting edge technology

    Prevention of significant capital investments

    Selection of an Outsource Service Provider

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    While selecting the outsource service provider, the business enterprise needs to pay special attention to

    various factors. These include:

    Due diligence Contract agreement

    Cost structures

    Vendor relationship as a partnership

    Limitations of CRM

    Even though outsourcing of CRM provides valuable benefits to a business organization, it still results in

    some problems. It causes business enterprises to lose much of their control over customers and services

    to another party. Other problems in this sphere pertain to technology implementation, database integration,

    agent selection, and training issues with the service provider. These issues are more complex and need to

    be addressed carefully.

    Conclusion

    While selecting the right service provider for outsourcing, business enterprises should devote enough time,

    and due diligence and have clearly established and communicated goals and objectives. A successful

    relationship will be one that lowers the business costs, increases the companys revenue and results in a

    profitable relationship with customers, thus creating a win-win situation for the companys business and its

    most valuable assets, the customers.

    Case Questions

    1. What is the significance of CRM in winning the market share?

    2. Better customer service and managing a good relationship with the customers are said to be two

    effective ways of retaining and widening the customer base. How do you think are these ways

    effective?

    3. How do the P-factors influence the growth of a company?

    4. Can CRM be limited or constrained by deadlines?

    5. The behaviour, attitude, and needs of the customers vary from culture to culture, country to country,

    state to state, and even from city to city. They also vary from time to time. Do you, therefore, think

    that the studies carried out in a particular period can be relevant all over the world at all the times?

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