1. Customer relationship management A strategic approach toward the development of creating appropriate relationships with the significant and profitable customers to enhance shareholders value

2. Role of IT in CRM Information technology play important role in CRM strategy because building relationship with the customers required clear, appropriate and timely data of the customers. Collecting and integrating extensive data of the customer can only be possible with the use of appropriate IT system. 3. Benefits of CRM CRM enables business to make better relationship with the customers and achieved customers loyalty, which results in increased revenue, reduced cost and improved profitability 4. Successful CRM Strategy Successful CRM strategy depends on the business ability of a business to: Align CRM strategy with the business objectivesIntegrate and consolidate customers dataSplit customer into appropriate segmentsPersonalise interaction with individual customers 5. CRM Implementation: case study of a bank Introduction to the bank The bank was formed in 1991 by some individuals by the name of Egnatia bankLater on in 2006 the bank merged with another bank of Greece and became Marfin Egnatia bankThe bank provides financial and banking services to individuals and businessThe bank primary activities are in the Greece but has also subsidiaries in Romania and Cyprus 6. PEST Analysis of the bank PoliticalThe bank is operating in politically unstable environment with a greater threat of competition from other European banks EconomicalBecause of depraved economically situation of Greece bank are in challenging situation to cope with all the economic issue and maintain profitability EnvironmentalBecause of little impact of the bank operations on the physical environment, the bank is not exposed to environmental protection authorities and policies TechnologicalGreece is far behind in technological advancement from other develop European and nonEuropean nations, which is a competitive disadvantage for the bank 7. Motivation behind the CRM Project Before implementation of new CRM project, the bank had a small customer service department, where 15 not well-trained employees were working. The department was unable to handles all the customers queries and the waiting time for customer to answer their queries was too long. The cost of running the department was high and customer could only get the account balance information from the department. To improve the customer service and reduce cost, the bank recognised the need to make a modern and more flexible call centre. 8. The new CRM system The bank develop a new and modern call centre which had the ability to response to the customer calls in short period of time and integrate the data and files of the customer, which resulted in quick response to the customers queries and a better understanding of the customers behaviours. 9. Benefits of the new system to the bank The cost of the bank was reduced substantiallyThe waiting time for customer was reduced to less then 2 minutes from 20 minutesThe capital value of the bank had increasedThe bank started to give 24/7 services to the customers