Involving head of Information Systems (IS) function is critical to success of any comprehensive Customer Relationship Management (CRM) program. This might seem like obvious advice since Chief Information Officer (CIO) must not only manage the installation of new companywide computer systems, but must also play a major role in ensuring that required data is effectively assembled to create comprehensive picture of the companys customers. While there are certainly clear short-term benefits in involving CIO more deeply in CRM, ultimate value will be in having a CRM-Ready CIO who is proactively looking for new and better ways to serve all customers
ROI (Return On Investment) may be tough to justify on a short-term basis. A customer-centric strategy may simply be the minimum requirement these days. This paper from Touchtone company explains the importance of Customer Relationship Management (CRM). CRM fundamentally has one simple purpose making organization more profitable, which it does by ensuring customers stick around longer. Ideally CRM gets customers to do more business with one who take care of them. Proper CRM should cut costs, reduce irritation and encourage clients to communicate more of their desires to meet.
This paper from Touchtone company discusses the value of Customer Relationship Management (CRM) with hundreds of company presidents, managers, IT staff members and customer service employees. Almost all of these functional groups agree that CRM can have real value for their organization. C-level executives see the biggest challenge they face when considering CRM, buying CRM, or having already implemented CRM, is teaching the users the value of the information, so they can take full advantage of the power of that information.
Companies current customers represent best future customers. Total customer relationship management (TCRM) is a premise that gives users a 360-degree view of their customers or contacts (CRM) and it combines this flat data with analytical conclusions that are derived from some Data Mining (DM) or Business Intelligence (BI) processing. In addition, the TCRM system will reveal the results of BI processing, in the form of conclusions being drawn from transaction data, direct marketing results, etc.
In tough economic times, management always hunkers down. It is their job to find ways to cut unnecessary costs, keep expenses down, and to keep the sales department bringing in as much revenue in as possible. A down economy should also be a time to analyze what the company can do better. This paper talks about seven vital steps to improve organizations current and future success. Company success in tough economic times depends on the ability to change and improve the way ones employees do things to better meet the customers? needs.
This paper published by Touchtone Corporation describes it is fairly easy to see where the benefits of CRM lie in most organizations. If a person is close to the processes that turn a prospect into a customer, and guarantees his satisfaction, he or she knows what would help their company be more successful. The next step is to take action to document, justify and convince oneself that the investment in CRM will help guarantee the firms long-term success.