Role Of CRM In Banking Sector

1599 Words7 Pages

Lina Pawar, Gaurav Waghmare, Surabhi Gupta
Computer Department & Pune University, India
Computer Department & Pune University, India
Computer Department & Pune University, India

Abstract :- The implementation of Customer Relationship with customers gives a helping to foster growth. The implementation of CRM has some success factors such as service response based on customer input, direct online communications with customer and customer service centers have been determined that impacts the project significantly and intensely toward obtaining the desired results. We studied the customer relationship management implementation in banking sector. CRM in banking is implemented via organizational roles
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Also specify the different aspects of CRM processes in order to increase the understanding between customer and organization. The other specific objectives of the study are:
1. To review the literature on the concept and use of CRM in banking sector.
2. To analyze the perception of customer on CRM as a tool of banking sector in retention of customers in general and SBI and other nationalized banks in particular.
3. To offer pertinent suggestions based on the findings of the study.

Model in which result is a computational model is a mathematical model in computational science that requires extensive computational resources to study the behavior of a complex system. The system under study is often a conceptual nonlinear system for which simple, intuitive solutions are not readily available. Despite deriving a mathematical solution to the problem, implementation with the model is done by adjusting the parameters of the system in the computer, and studying the relative outcome of the experiments. Operation theories of the model can be deduced from these computational
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Given the current tight economy, companies have no choice other than to focus increasingly on financial measures, especially ROI. The ROI analysis should consider intangibles (i.e., outcomes beyond tangible cost savings and revenue growth). Simply stated, ROI is calculated as returns divided by investments. When assessing the total cost of ownership of CRM, it is important to add ongoing costs such as annual software licensing fees, software maintenance (e.g., modifications and fixing bugs), and continuous employee training, as well as one-time costs, such as the software base license, consulting fees, hardware, initial employee training, and so forth. On the other hand, when figuring out the returns, the matter is considerably more complex, because there are many tangible and intangible benefits. Tangible benefits include cost savings and revenue growth that would be achieved by improvement in sales force productivity, increased cross-selling, and an increased customer retention rate. Intangible benefits might be an increase in customer satisfaction, improvement of market predictive ability, and product development in accordance with customers’ needs. Although these benefits are difficult to quantify, they can be measured with appropriate benchmarks. He paramount causes for difficulties in calculating ROI,
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