bsp;friendlier through individualization. To succeed with, banking companies need to match services and campaigns to prospects and customers - in other words, to intelligently manage the customer life cycle.
Instead of looking at the internal processes the orientation come to look outside the business and even more towards customers. Until recently, most CRM software focused on simplifying the organization and management of customer information. Such software, called operational CRM, focuses on creating a customer database that presents a consistent picture of the customer’s relationship with the company and providing that information in specific applications. These include sales force automation and customer service applications, in which the company “touches” the customer. However, the sheer volume of customer information and increasingly complex interactions with customers has propelled data mining to the forefront of making customer relationships profitable.
“Data mining is a process that uses a variety of data analysis and modeling techniques to discover patterns and relationships in data that are used to understand what your customers want and predict what they will do.”
As a common trend customers used to call a clerk as a ‘Sir’ requesting for prompt service but now he calls us as a ‘Sir’ by the bankers considered really as ‘Customer is a king’. Earlier a customer who is the guest of the bank had to stand in front of the clerk for his account operations but now the trend had changed the host and the guest are sitting opposite to the table and the guest is welcomed by a pleasing smile.
2.1 Components of CRM
It is a bundle of sales, Marketing and Customer support applications. Integration of the applications through the web makes the CRM applications really attractive.
Transactions are tracked through CRM and integrated with ERP and Data mining is used for the analysis of data.
The old concept (Diag.1)
THE BACK OFFICE (General Manager, Manager Finance, HR,)
THE FRONT OFFICE (Cashier, Clerk)
THE CUSTOMER
The Current Concept (Diag.2)
THE BACK OFFICE
THE FRONT OFFICE THE CUSTOMER THE FRONT
OFFICE
THE BACK OFFICE (Diag.3)
THE INTEGRATION OF CRE & ERP
CHANNELS OF APPLICATIONS
COMMUNICATION
THE BACK OFFICE
TELECOM CUSTOMER EDP SUPPORT ERP
MANAGER MANAGER MANAGER
(Public relations) (Maintenance)
THE FRONT OFFICE
The Channels of communication indicates the various possibilities of the customers contracting an organization for information and help vide through telecom, Internet or meeting through a person.
The sales applications may typically contain functionally relating to sales force management,scheduling, account management, reporting. It the facilities are web enabled, facilities customers to log and access the site directly and gather information browsing through the information provided in the web as in private sector banks like ICICI Bank Ltd. UTI Bank
Ltd. HDFC Bank Ltd.
The marketing applications may contain information related to its activit
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