Technology And Business Assessment: Implementing A Crm Tool.

1814 words - 7 pages

The Vice President of my department decided to step back and ask the question, how do our customers perceive the organization and are we meeting their needs? It's a proven fact that it costs 10 times as much to bring in a new customer as it does to retain one and that the perception a customer has of a company is based on their experiences with people from the company. Client Services Representatives (CSR) are the first point of contact customers have with our organization and it was decided that a tool was needed to enhance that relationship. With that simple idea, the implementation process of our organization's CRM tool began.Customer Relationship Management (CRM) is a business strategy to select and manage customers to optimize long term value. CRM requires a customer-centric business philosophy and culture to support effective marketing, sales, and services processes. CRM tools can enable effective customer relationship management, provided that an organization has the right leadership, strategy and culture. Information is the key to success. Just by providing a full lifecycle view of the customer to whomever they might contact (sales staff, CSR's, field support or management) an organization will begin see customer satisfaction levels rise. Increasing customer satisfaction directly translates into higher rates of repeat business and the development of long term customer relationships.Since we were just starting out, we needed to develop the requirements first. We had to define the problem, understand what's going to solve that problem and understand the functionality of that solution. In other words, in order to increase the number of marketing campaigns this year, boost sales and enhance customer service, we needed individual customer profiles. Once management understood the requirement, they started to explore technologies that support that particular functionality. Management felt that the correct way to do it was, understand the requirements, then functionality, then find the right tool.As our products and services began to change and grow, senior management decided to turn to CRM solutions to gain a proactive understanding of our customers' wants and needs. A CRM tool will allow the organization to gather and access information about our customers' buying habits, preferences, issues and needs so that we can begin to anticipate what customers will want. The goal of the implementation of a CRM tool is to increase customer loyalty, retention and revenue. Also, there was a debate in regards to which department would run the CRM implementation project. Ultimately, it was decided that the biggest return would come from aligning business, CRM, and IT strategies across all departments, and not just leaving it for one group to run.The underlying idea of a CRM tool is that it helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers. If it works as hoped, our organization...

Find Another Essay On Technology and Business Assessment: Implementing a CRM Tool.

Stem Cells--A Technology Assessment Essay

8357 words - 33 pages significantly during 1990's. The cost of stem cells therapy should decrease in a similar fashion during its maturing stage (See Exhibits 8 and 9).35,36Proposed Business ModelWe feel that the main obstacle to successful commercialization of stem cell technology is the very high costs involved. This will make it difficult for stem cell treatments to become widely adopted and commercially successful. Thus if any business model seeks to be successful, it must

Success from Advertisement as a Business Tool

745 words - 3 pages In the current world, most of the businesses have succeeded because of using advertisement as a business tool. Advertisement is a form of communication, which is used to persuade, manipulate, or encourage the customers to buy your products or services. Some of the examples of advertisement used to attract the attention of the public are: broadcast, print, and electronic media. The main objective of the different types of the methods of

Location Assessment of a Business

1367 words - 5 pages Location Assessment of a Business The success or failure of a business frequently depends on its location. The right location will increase the chance of a business succeeding. The wrong location could increase the chances of a business failing. The main factors that influence the location of a business are LABOUR, LAND, RAW MATERIALS AND THE MARKET, INFRASTUCTURE, SERVICES and some OTHER INFLUENCES. LABOUR

Risk Assessment and Business Management

962 words - 4 pages the business would develop. Works Cited Brucker, A D, and Dieter Hutter. “Information Flow in Disaster Management Systems.” 2010 International Conference on Availability Reliability and Security. IEEE, 2010. 156-163. Champion, J. “Risk assessment. A five step process.” British journal of perioperative nursing the journal of the National Association of Theatre Nurses 10.7 (2000) : 350-353. Print. Muzzi, Armando, and Augusto Panà. “Risk assessment and risk management.” Igiene E Sanita Pubblica 2000 99-103.

Technology and Business Opportunities

1622 words - 6 pages increasing impact of information technology, resulting in the growing importance of service and relationships in a business. Strategic Information Systems are frequently used to enhance a company's competitive situation.Strategic Information Systems have the ability to turn businesses strengths' into potential sustainable competitive advantages. British Airways, for example, implemented customer service online and self checking at the airports. Though

Technology and Business Intelligence

1041 words - 4 pages explain why stakeholders’ involvement is one of the critical factor in implementing BI and what happens if stakeholders’ involvement is constantly being ignored. What is Business Intelligence (BI)? Business Intelligence is actually the tools and systems that play a key role in the strategic planning process of the corporation. A successful implementation of BI can have a direct positive impact on business performance of an enterprise, dramatically

Global Business and Technology

786 words - 3 pages IBM managing Gap's infrastructure the company experienced slow responses to normal technology issues. The issues were addressed and new processes and procedures were implemented to stabilize Gap's technology operations.As part of Gap's business plan from a global perspective franchise agreements placed Gap in the Middle East. Given the complexity of the foreign market Gap determined their cost and liability would be minimal compared to owning and

E-Business and Technology

3001 words - 12 pages specifications are scrutinized the closest. This machine will need to have a huge amount of storage capacity and will need to utilize the latest technology for fast disk access. Ignoring or minimizing the potential volume of transactions could lead to a sluggish system during peak times and could result in a loss of business. The application server will provide the processing power for the transactions that are processed on the website. The most

Genetic Engineering a Power and Dangerous Tool

1749 words - 7 pages , genetic engineering is a powerful and potentially very dangerous tool if in the wrong hands. It can completely change a product that can be very useful, or on the contrary, it is extremely harmful to the people. Today's advances in genetic engineering allow therapy to replace the defective gene in a cell with a more refined gene that does not have this defect. Although these methods are available, they are still in the experimental stage. It

Description of Nestlé (Thai) School Channel in Ice-Cream Business Unit and Current CRM Complication

1680 words - 7 pages research of this report will derive from an in-depth and recorded interview with Ms Thitikarn Suwansukhum, a trade marketing promotion executive of school channel in Nestlé (Thailand) company, ice-cream business unit. I will combine the interview with an analysis based on a theoretical method from CRM textbooks, as well as many academic journal articles related to Business-to-Business CRM and online website articles. 2c. Literature Review i. The

Information Technology and Small Business

675 words - 3 pages AbstractInformation technology can play an important role in helping a small business to succeed. By investing in appropriate equipment and technology, a small business operator can grow productivity and reach new markets. Learning about technologies is important. Planning for acquisition and upgrade of equipment and technology is important. Understanding the useful economic life of equipment and planning for upgrades in line with your business

Similar Essays

Technology Is A Handy Tool Essay

717 words - 3 pages their full potential. The web filters that have been placed within the iPads is limiting the students' "learning space". They are blocking important websites that could be used to help the students with their subjects and their understanding of them. Websites with valuable information that could be used to help students with their work could possibly be blocked by these web filters. Technology is a better and faster way to get assignments done

Implementing Change In The Public Sector Information Technology And Business Transformation

2126 words - 9 pages simplification to see the public sector as a pressure free environment. Internal markets and competitive funding have introduced business disciplines and there remains downward pressure on public expenditure and ever increasing statutory responsibilities. It is inevitable therefore that the pursuit of performance and value for money improvements will be linked to the e government agenda and the use of information technology (IT).Central government

Technology, A Tool For Liberation Or Enslavement?

2625 words - 11 pages mind, think of all the technology American government agencies have at hand, a portion of which is used for spying on citizens, all of which the government claims is for the good of the country. In extreme cases, technology can be used as a tool for enslaving society, but in less extreme cases it can be seen as a tool used to free it from many tasks, some as simple as talking to another human being, using the invention of smart phones and

Critical Thinking Case Study: Implementing A Customer Relationship Management Tool At Image Stream

1975 words - 8 pages current solutions decreases the total cost of implementing CRM tools, and eliminates the majority of retrenching required.A solution based on the support staff's existing CRM tool serves as a building block for other initiatives, including inventory movements, work orders, product warranties, service invoicing and on-line customer service capabilities. By enabling both sales/marketing and technical support groups to track customer and service