Potential Benefits Of Customer Relationship Management

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CUSTOMER RELATIONSHIP MANAGEMENT
The strategy of transforming enterprise to become customer centric while still expanding revenue and profit is one of the important strategies in the business today, known as customer relationship management. Customer relationship management (CRM) is an IT application to learn more about customers' needs and behaviors in order to develop stronger relationships with them. As such it is more of a business philosophy than a technical solution to assist in dealing with customers effectively and efficiently.

Potential benefits of CRM:
Some major benefits of CRM include:
1. To improve the relations with your customers , which can lead to :
• Increased sale to better timing.
• Identifying needs by understanding
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• An efficient CRM will focus on finding more profitable customers that will earn a future profit.
• CRM will collect and maintain valuable knowledge about the customers that serves as an asset for the organization.
• The good CRM knows about customer needs as a result it increases its sales.

Weaknesses:
• The CRM should not be overloaded of unnecessary information otherwise it can make a mistake in decision making.
• CRM implementation will lead to cultural change of which the staff of the organization is not prepared. The organization should take measures to it.
• CRM is not able to handle less and newly entered data.it needs to gather large data otherwise the system would crash.
Opportunities:
• The organization by studding the needs of customers through CRM can satisfy them thus it provides them the opportunity to increase customer satisfaction.
• The organization can establish better relationships by identifying the needs of customers and maintaining relationships between staff and customers.
• By adopting new communication technologies the organization can improve interaction between them and
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CRM is actually helping to serve the customers in a successful manner. However the organization has to keep in mind that the system is dealing with their most important resource: customer data.
The major CRM systems are Siebel, Oracle and my SAP that are working in the market. Major component of a CRM system includes:
• Sales
• Customer support
• Call centers
• Order management
• Sales force automation system

Security attacks A CRM can have the following kinds of security attacks:
• DOS denial of system can be installed to make the attacked system unavailable. The attacker can be an angry customer, competitor or an employee as well.
• Intrusion in to customer data can be another kind of attack on security of CRM. Potential attackers can steal the private information about the customers.
• Malware attacks can also happen; it includes viruses that can cause DOS, hardware damage and data loss.
• Another attack can be called as identify theft, it is simply when someone enters your system without your permission to commit any fraud or crime.

Protection methods:
The CRM protection methods can include the following:
• Using an ID/password
• Installing firewalls
• Antivirus program installation
• Using VPN (virtual private

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