A Project Report on

“CUSTOMER RELATIONSHIP MANAGEMENT“

At

Revenir development system pvt.Ltd.

Submitted to

University of Pune

In Partial Fulfillment of

Degree of

MASTER OF BUSINESS ADMINISTRATION

2012-14

By

MOHD IRSHAD KHAN

Indira College of Engineering & Management, Parandwadi, Pune

DECLARATION

I hereby declare that the following project report titled “Customer Relationship Management”

At REVENIR SOFTWARE DEVELOPMENTPVT.LTD. Delhi is an authentic, original and

bonafide work done by me towards Partial Fulfillment for my degree of ‘Masters of Business

Administration’

It is to the best of my knowledge and belief. This is to declare that all my work indulged in the

completion of this Project Report such as research, analysis and recommendations is a profound

and honest work of mine.The results embodied in this report have not been submitted to any

other University or Institute for the award of any degree.

The project was undertaken as a part of the academic curriculum according to the University of

Pune rules and norms. This report is submitted to INDIRA COLLEGE OF ENGINEERING

AND MANAGEMENT, PUNE and REVENIR SOFTWARE DEVELOPMENTPVT.LTD.

Delhi

Place: MOHD IRSHAD KHAN

MBA MARKETING

(2O12-14)

ACKNOWLEDGEMENT

The project titled “A Customer Relationship Management, which is part of the summer

internship program of the MBA course has been successfully completed. I take this opportunity

to thank all the people involved directly or indirectly in making this project a success.

Firstly I would like to thank my external project guide MR. MRITUNJAY KUMAR(director)

at REVENIR DEVELOPMENT SYSTEM PVT. LTD.Delhi for giving me an opportunity to

showcase my skills and talent by making a contribution in the favour of the organisation.

I would like to thank my internal project Guide Prof.Rachitajoshifor her timely & valuable

guidance throughout the project. I am very thankful to the my H.O.D sir Prof. VirendraTatake,

who has been guiding lighthouse and for me. His constant motivation accelerated my

performance and helped me produce great results. Thank you once again to one and all.

MOHD IRSHAD KHAN

ICEM

Index:

CHAPTERS TITTLE PAGE-NO.

CHAPTER-1 INTRODUCTION

CHAPTER-2 INDUSTRY PROFILE

CHAPTER-3 COMPANY PROFILE

CHAPTER-4 LITERATURE SURVEY

CHAPTER-5 OBJECTIVES

CHAPTER-6 RESEARCH METHODOLOGY

CHAPTER-7 DATA ANALYSIS & INTERPRETATION

CHAPTER-8 OBSERVATIONS & FINDINGS

CHAPTER-9 CONCLUSION

CHAPTER-10 RECOMMANDATIONS & SUGGESTIONS

CHAPTER-11 BIBLIOGRAPHY

CHAPTER -1

INTRODUCTION

Context of Topic

Before we begin to examine the conceptual foundations of Commit will be useful to define, what

is CRM? A narrow perspective of customer relationship management is database marketing

emphasizing the promotional aspects of marketing linked to database efforts. Another narrow,

yet relevant, viewpoint is to consider commonly as customer retention in which a variety of after

marketing tactics is used for customer bonding or staying in touch after the sale is made.

Shani and Chalasani define relationship marketing as “anintegrated effort to identify, maintain,

and build up a network withindividual’s consumers and to continuously strengthen the network

for mutual benefit of both sides, through interactive, individualizedand value-added contacts

over a period of time”.

The core theme of allCRM and relationship marketing perspectives is its focus on co-operative

and collaborative relationships between the firm and itscustomers, and/or other marketing

actors.CRM is based on the premise that, by having a betterunderstanding of the customers’

needs and desires we can keep themlonger and sell more to them.

Growth Strategies International (GSI) performed a statisticalanalysis of Customer satisfaction

data encompassing the findings of over 7,000+ customer surveys conducted by Revenir Software

Development Pvt. Ltd.

CRM (customer relationship management) is an informationindustry term for methodologies,

software, and usually Internetcapabilities that help an enterprise manage customer relationships

inan organized way.

For example, an enterprise might build a databaseabout its customers that described relationships

in sufficient detail sothat management, salespeople, people providing service, and perhapsthe

customer directly could access information, match customerneeds with product plans and

offerings, remind customers of servicerequirements, know what other products a customer had

purchased,and so forth.

The essence of the information technology revolution and, inparticular, the World Wide Web is

the opportunity to build betterrelationships with customers than has been previously possible in

theoffline world.

By combining the abilities to respond directly tocustomer requests and to provide the customer

with a highly interactive, customized experience, companies have a greater ability today to

establish, nurture, and sustain long-term customer relationships than ever before.

The ultimate goal is to transform theserelationships into greater profitability by increasing repeat

purchaserates and reducing customer acquisition costs. Indeed, this revolutionin customer

relationship management or CRM.

Literature Review

In analysing the impact of CRM on today’s businesses, it is also useful to take a look

at the newest trendsand developments in the industry to show what further benefits (and further

challenges) are offered bythe latest CRM software packages.In terms of trends in adoption of

CRM, it appears as though CRM has been adopted widely in the UnitedStates. In fact, a survey

of 200 US businesses representing 30 different markets found that 74% of themhad adopted a

CRM platform, with a further 20% of them planning to install a CRM solution within thenext 6-

12 months (Small Business Trends, 2011) .Research also found that many businesses have

recently been adopting “on demand” SaaS (Software as a Service) solutions. SaaS is a

software delivery model in which applications are hosted by a vendor orservice provider and

made available to customers over a network, typically the Internet (Rouse, 2010).Salesforce.com

is one example of such software. A Gartner report found SaaS solutions represented 24%of total

CRM sales in 2009 (Barrett, 2010).It was predicted by Forrester Research that one of the biggest

new features of CRM implementations is the ability for employees to have “CRM in their

pocket”, in the form of mobile apps, allowing employeesto “do everything from finding a

customer’s location to knowing what their outstanding payables and support issues are just

before you walk in the door” (ApexTwo, 2011).Indeed, in 2009, SalesForce.com (one of the

market leaders) released mobile apps for some of the mostpopular mobile platforms, including

iPhone, BlackBerry and Windows Mobile (Kanaracus, 2009).Another recent development is the

integration of social networking data with CRM. Research shows that50% of businesses reported

that social networks had made them more successful. 26% of thosebusinesses integrate data from

social networks with their CRM software. This has brought advantages inthat companies are

better able to bring their marketing campaigns to social networks like Facebook andTwitter, but

at the same time there are security concerns relating to using social networks for leadgeneration,

as sometimes sensitive data is shared or transmitted across public social channels(Blankenhorn,

2011).

Customer relationship management (CRM) is “a widely implemented strategy for managing

a company’s interactions with customers, clients and sales prospects. It involves using

technology to organise,automate, and synchronise business processes principally sales activities,

but also those for marketing,customer service and technical support. The overall goals are to

find, attract, and win new clients,nurture and retain those the company already has, entice former

clients back into the fold, and reducethe costs of marketing and client service. Customer

relationship management describes a company-widebusiness strategy including customer-

interface departments as well as other departments. Measuringand valuing customer relationships

is critical to implementing this strategy.”

CRM software is said to “record in one place the extensive information necessary to understand

a customer and his or her needs and expectations. The software is becoming essential because it

can beused to capture and rapidly display the information needed to work toward assuring the

satisfaction of many customers at the same time. In addition to providing the basic data about a

company and itsproducts, CRM software offers information needed to build relationships and

add value throughout the sales process … CRM keeps a salesperson intimately involved in a sale

by prioritizing tasks important to moving the sale along, identifying the customer’s stage in the

sales process, keeping track of all previoussteps in the process and information shared, and

displaying personal information recorded about those involved in a purchase, in order to improve

relationships with them.” (Gerald Manning, 2012)CRM software achieves this by allowing users

to manage customers, including contacts of potentialcustomers, execute marketing campaigns

(via email, internet, mail, phone etc.), engage with customersvia social networking, workflow

and task automation, schedule and organise activities and providesintegration/collaboration

between company departments. CRM software also organises data in a way suitable for

managers to get a clear picture of what’s going on at a glance, but also data is analysed for

analytics and business intelligence.The main benefits offered by CRM to businesses are said to

be “new sales opportunities”, “improvedcustomer service”, easy planning and execution of

“targeted marketing campaigns”, “better decision making” and “greater efficiency”

Need for Study

The ultimate purpose of CRM, like any organizational initiative, is to increase profit. In the case

of CRM this is achieved mainly by providing a better service to your customers than your

competitors. CRM not only improves the service to customers though; a good CRM capability

will also reduce costs, wastage, and complaints (although you may see some increase initially,

simply because you hear about things that without CRM would have stayed hidden). Effective

CRM also reduces staff stress, because attrition - a major cause of stress - reduces as services and

relationships improve. CRM enables instant market research as well: opening the lines of

communications with your customers gives you direct constant market reaction to your products,

services and performance, far better than any market survey. Good CRM also helps you grow

your business: customers stay with you longer; customer churn rates reduce; referrals to new

customers increase from increasing numbers of satisfied customers; demand reduces on fire-

fighting and trouble-shooting staff, and overall the organization's service flows and teams work

more efficiently and more happily.

CRM can have a major impact on an organization through:

shifting the focus from product to customer

streamlining the offer to what the customer requires, not want the organization can make

highlighting competencies required for an effective CRM process

Customer Relationship Management, or CRM, is an essential part of modern business

management. This CRM article is provided by Ellen Gifford, who specialises in helping

organizations develop excellence in CRM, and this contribution is gratefully acknowledged.

What is Customer Relationship Management, or CRM? Customer Relationship Management

concerns the relationship between the organization and its customers. Customers are the

lifeblood of any organization be it a global corporation with thousands of employees and a multi-

billion turnover, or a sole trader with a handful of regular customers. Customer Relationship

Management is the same in principle for these two examples - it is the scope of CRM which can

vary drastically.

Problem Statement

Most obviously, and this is the extent of many suppliers' perceptions, customers want cost-

effective products or services that deliver required benefits to them. (Benefits are what the

products or services do for the customers.) Note that any single product or service can deliver

different benefits to different customers. It's important to look at things from the customer's

perspective even at this level.

More significantly however, customers want to have their needs satisfied. Customers' needs are

distinctly different to and far broader than a product or service, and the features and benefits

encompassed. Customers' needs generally extend to issues far beyond the suppliers' proposition,

and will often include the buying-selling process (prior to providing anything), the way that

communications are handled, and the nature of the customer-supplier relationship.

Modern CRM theory refers to the idea of 'integrating the customer'. This new way of looking at

the business involves integrating the customer (more precisely the customer's relevant people and

processes) into all aspects of the supplier's business, and vice versa. This implies a relationship

that is deeper and wider than the traditional 'arms-length' supplier-customer relationship.

The traditional approach to customer relationships was based on a simple transaction or trade,

and little more. Perhaps there would be only a single point of contact between one person on

each side. All communication and dealings would be between these two people, even if the

customers' organization contained many staff, departments, and functional requirements

(distribution, sales, quality, finance, etc).

The modern approach to customer relationship management is based on satisfying all of the

needs - people, systems, processes, etc - across the customer's organization, such as might be

affected and benefited by the particular supply.

Objectives of the Project

Primary Objectives:

To provide information about the product/service 24 X 7

To provide assistance about the queries/difficulties/complaints raised by the customer

Identifying the requirements and expectations and defining the strategies about the ser-

vice.

Providing a fast and effective mechanism for managing and scheduling follow-up sales

calls to assess post-purchase cognitive dissonance, repurchase probabilities, repurchase

times, and repurchase frequencies.

Provide a mechanism to track all points of contact between a customer and the company

in the integrated way such that the same information is accessible to all the point of con-

tacts

Secondary Objectives:

Provide a feedback mechanism to know the feedback of the service provided

To provide a technical expert for the complicated queries 24 X 7

To define the terms for reimbursements/repayments

To provide a mechanism for reimbursements/repayments

To set a mechanism to give time estimation to the customer to fix the queries

Scope of the Study

The study conducted on the CRM process of Revenir

It gives information about how CRM is maintained at Revenir

It gives information about feedback mechanism at Revenir

It provides suggestions to the company to improve their products sales.

CHAPTER-2

INDUSTRY PROFILE

Industry/Sector Profile

For a long time companies saw their customers only as transactions, focusing their efforts on

everything that surrounded the customer but without ever actually getting to the customer. Every

organization realizes the need to get closer to the customer to increase market share and fight

competition, particularly in the fast moving turbulent environment.

Thus the marketing functions are fast changing to adapt themselves to changing challenges faced

at various fronts. With multiple sales channels, increasing competition and ever-reducing

margins, the need to listen to the customer closely has never been greater than it is today.

Building a long lasting, mutually beneficial relationship with the customer has assumed

tremendous importance in today’s business environment. Marketers now understand that

retaining the customers is far more challenging though profitable than acquiring new customers

in the fast moving competition. The most profitable companies are those that make the smartest

decisions about investments in attracting and retaining customers.

Thus the traditional transactional approach to achieve marketing goals became insufficient. This

situation necessitated the emergence of new approach namely relationship building through

“CUSTOMER RELATIONSHIP MANAGEMENT”.

Customer Relationship Management (CRM) has now become a strategic necessity for the sales

and business development professionals who continuously strive to be one up their competitors.

Traditionally, few people changed their banks unless serious problems occurred. In the past there

was, to certain extent, a committed, often inherited relationship between a customer and his/her

bank. The philosophy, culture and organization of financial institutions were grounded in this

assumption and reflected in their marketing policies, which were product and transaction-

oriented, reactionary, focused on discrete rather than continuous activities.

In the beginning…

The 1980’s saw the emergence of database marketing, which was simply a catch phrase to define

the practice of setting up customer service groups to speak individually to all of a company’s

customers.

In the case of larger, key clients it was a valuable tool for keeping the lines of communication

open and tailoring service to the clients needs. In the case of smaller clients, however, it tended

to provide repetitive, survey-like information that cluttered databases and didn’t provide much

insight. As companies began tracking database information, they realized that the bare bones

were all that was needed in most cases: what they buy regularly, what they spend, what they do.

However database marketing was too costly, too difficult and didn’t pay out on the bottom line,

except in the case of business-to-business key account marketing. A little database marketing

went a long way, which was very good news for everyone except technology vendors.

Organizations could do quite well simply by knowing how recently and frequently customers

purchase; how much they spend; what they purchase; and an iota of customers’ demographics.

Advances in the 1990’s

In the 1990’s companies began to improve on Customer Relationship Management by making it

more of a two-way process. Instead of simply gathering data for their own use, they began giving

back to their customers not only in terms of the obvious goal of improved customer service, but

in incentives, gifts and other perks for customer loyalty.

This was the beginning of the now familiar frequent flyer programs, bonus points on credit cards

and a host of other resources that are based on CRM tracking of customer activity and spending

patterns. CRM was now being used as a way to increase sales passively as well as through active

improvement of customer service.

Customer Relationship Management: The Concept

Customer Relationship Management is the establishment, development, maintenance and

optimization of long-term mutually valuable relationships between consumers and the

organizations. Successful customer relationship management focuses on understanding the needs

and desires of the customers and is achieved by placing these needs at the heart of the business

by integrating them with the organization's strategy, people, technology and business processes.

Customer Relationship Management (CRM), also known as relationship marketing or customer

management, is an information technology industry term for the methodologies, strategies,

software, and other web-based capabilities used to help an enterprise organize and manage

customer relationships. The goal of CRM is to aid organizations in better understanding each

customer's value to the company, while improving the efficiency and effectiveness of

communication.

CRM captures, analyzes, and distributes all relevant data from customer and prospect

interactions to everyone in the organization. This distribution of information helps an

organization better meet customer, product, and service needs.

CRM has replaced traditional marketing techniques that focused on key marketing mix elements,

such as product, price, promotion and place. By being too functionally-based, traditional

marketing techniques neglected the customer in the after-sales process and failed to meet

customers' desires. CRM emphasizes customer retention over customer acquisition and is

recognized as one of the most viable tools used to further a company's success in the highly

competitive business world.

MODEL OF CRM

We now consider the Business Strategy Perspective on CRM. Here, we propose a model, which

is a hybrid, and typical of many of the models and diagrams of CRM that you will find on The

Internet and in popular books on the topic of eMarketing / eCommerce. The model has three key

phases and three contextual factors:

Three key phases:

1. Customer Acquisition.

2. Customer Retention.

3. Customer Extension.

Three contextual factors:

4. Marketing Orientation.

5. Value Creation.

6. Innovative IT.

1. Customer Acquisition - This is the process of attracting our customer for the first their first purchase. We have acquired our customer.

Growth - Through market orientation, innovative IT and value creation we aim to increase the number of customers that purchase from us for the first time.

7.

2. Customer Retention - Our customer returns to us and buys for a second time. We keep them as a customer. This is most likely to be the purchase of a similar product or service, or the next level of product or service.

Growth - Through market orientation, innovative IT and value creation we aim to increase the number of customers that purchase from us regularly.

3. Customer Extension - Our customers are regularly returning to purchase from us. We introduce products and services to our loyal customers that may not wholly relate to their original purchase. These are additional, supplementary purchases. Of course once our loyal customers have purchased them, our goal is to retain them as customers for the extended products or services.

Growth - Through market orientation, innovative IT and value creation we aim to increase the number of customers that purchase additional or supplementary products and services.

4. Marketing Orientation - means that the wholes organisation is focused upon the needs of customers. Customer needs are addressed by the Three Levels of a Product whereby the organisations not only supplies the actual, tangible product, but also the core product and its benefit, and also the augmented product such as a warranty and customer service. Marketing orientation will focus upon the needs of consumers for all three levels of a product. (N.B. 'market' orientation and 'marketing' orientation are not the same).

5. Value Creation - centres on the generation of shareholder value based upon the satisfaction of customer needs (as with marketing orientation) and the delivery of a sustainable competitive advantage.

6. Innovative IT - is exactly that - Information Technology must be up-to-date. It should be efficient, speedy and focus upon the needs of customers. Whilst IT and/or software are not the entire story for CRM, it is vital to its success. CRM software collects data on consumers and their transactions. Huge databases store data on individuals and groups of individuals. In some ways, CRM means that an organisation is dealing with a segment of one person, since every consumer displays different purchasing habits and preferences. Organisations will track individuals, and try to market products and services to them based upon similar buyer behaviour seen in other individuals (e.g. When Amazon tells you that customers that viewed/bought the same product as you, also bought another product).

8. The Eight Building Blocks of CRM are1. CRM Vision: Leadership, Market Position, Value Proposition2. CRM Strategy: Objectives, Segments, Effective Interaction3. Valued Customer4. Organizational Collaboration5. CRM Processes: Customer Life Cycle, Knowledge Management6. CRM Information: Data, Analysis, One View Across Channels7. CRM Technology: Applications, Architecture, Infrastructure8. CRM Metrics: Value, Retention, Satisfaction, Loyalty, Cost to Serve

“Creating a CRM Vision” Successful CRM demands a clear vision so that a strategy and implementation can be de-

veloped to achieve it. The CRM vision is how the customer-centric enterprise wants to look and feel to its customers and prospects — the customer value proposition (CVP) and the corporate brand values are key to the CRM vision. Without a CRM vision, the enter-prise will not stand out from the competition, target customers will not know what to ex-pect from it and employees will not know what to deliver in terms of external customer experience. A successful CRM vision is the cornerstone to motivating staff, generating customer loyalty and gaining a greater market share.

“Developing a CRM Strategy” A CRM strategy is not an implementation plan or road map. A real CRM strategy takes

the direction and financial goals of the business strategy and sets out how the enterprise is going to build customer loyalty — that “feel-good factor” of customer connection with an enterprise that means customers stay longer, buy more, recommend the enterprise to oth-ers and are more willing to pay a premium price. The objectives of a CRM strategy are to target, acquire, develop and retain valuable customers to achieve corporate goals.

“Customer Experience: The Voice of the Customer”: Customers’ experiences when interacting with the enterprise play a key role in shaping

their perception of the enterprise — the value it provides and the importance it places on the customer relationship. Good customer experiences drive satisfaction, trust and long-term loyalty. Poor customer experiences have the opposite effect and, because bad news travels faster and further than good news, they harm the enterprise’s ability to create new relationships with prospects. No amount of internal “second guessing” can simulate what it’s really like to be a customer.

9.“True CRM Requires Organizational Collaboration” Many enterprises believe that implementing CRM technologies makes them a customer-

centric organization. They forget, ignore or deliberately avoid the necessary changes to the enterprise itself. True CRM means that individuals, teams and the whole enterprise must become more focused on the needs and wants of the customer. The term “organizational collaboration,” highlights the many facets of the customer-cen-tric internal change needed to deliver the required and desired external customer experi-ence. As a critical part of a CRM program, it will involve changing organizational struc-tures, incentives and compensation, skills and even the enterprise culture.

“Customer Process Re-engineering: Talk to Your Customers” Past efforts to re-engineer processes were primarily driven by the desire to improve the

efficiency of an enterprise and reduce costs. The beneficiary was the enterprise, not its customers. The rise in CRM has led to a focus on reworking key processes that touch the customer and asking customers which processes matter to them. Enterprises frequently do not realize that their functionally fragmented processes often mean that the customer has a poor experience and receives less than the expected value. Successful re-engineering should create processes that not only meet customers’ expectations, but also support the

customer value proposition, provide competitive differentiation and contribute to the de-sired customer experience.

“Customer Information: Is the Lifeblood of CRM” Successful CRM requires a flow of customer information around the organization and

tight integration between operational and analytical systems. Having the right informa-tion at the right time is fundamental to successful CRM strategies, providing customer in-sight and allowing effective interaction across any channel. Unfortunately, most enter-prises’ CRM information capabilities are poor — the result of numerous and fragmented departments, initiatives, databases and systems. Enterprises that establish a business plan for sourcing, managing and leveraging their customer information assets are more likely to achieve their CRM goals and objectives and gain a competitive advantage

“Technology Decisions Are Key to Enabling CRM Strategies” For most technologists, CRM is all about technology. CRM technologies are an essential

enabler for any modern CRM business strategy, but they are just one piece of the puzzle. Key Technology decisions that enterprises have to take are in three areas namely CRM applications, architectural issues and integration. In many CRM projects, integration is-sues start as a relatively low priority, and then rise in prominence (cost and time) as en-terprises realize that true CRM requires seamless customer-centric processes, supported by integrated technology across the enterprise and its supply chain.

10.

“Getting the Best Out of CRM Performance Metrics” The other seven building blocks depend on performance targets and metrics to gauge

their success, and enterprises must set measurable CRM objectives and monitor CRM in-dicators to successfully turn customers into assets. Without performance management, a CRM strategy a program is destined to fail. “Getting the Best out of CRM Performance Metrics” introduces a framework for measuring an enterprise’s success with CRM by cre-ating a hierarchy of performance metrics with four levels, namely: corporate, customer strategic, operational and process, and infrastructure input metrics.

These metrics have an internal and an external focus and link operations to strategy and corporate financial benefits. Each enterprise will have a unique set of metrics applicable to their situation.

Customer Experiences

The first step towards successfully winning, retaining and growing the profitability of private banking customers is to understand what their wants and needs are, so that the organization can be built around serving those needs.

Only when an organization has done this and incorporated this into its strategy can it start to design its value proposition and a customer experience that will enable it to achieve a differentiated competitive position in the private banking market, and more importantly, do so in an economically viable way.

11.

The Basic Customer Experience

There is a basic 'generic' customer experience that many private banking customers are seeking. To be a credible player in the market, a private bank must be able to deliver this 'base' experience. This represents a common set of needs that are shared by most HNW customers.

Therefore, the private bank must have the capabilities required to meet these needs for the majority of its customer base.

All customers, regardless of wealth levels, have similar emotional needs, which drive their need for advice and their purchase of products. Different wealth levels impose different priorities on meeting these needs and open up new avenues for doing so.

Take a simple example, HNW customers can afford on it to fund their retirement, so their priorities may be associated with growing wealth, rather than preserving it, allowing them to choose a product option with a higher risk/reward ratio.

If this is true, it means all HNW customers start with a basic, common set of what they want and need from a bank, which might include: -

12.

1. Personal, long-term relationship

2. Advice combining industry expertise and knowledge of personal circumstances

3. High quality, consistent quality

4. Security, privacy, confidentiality

At this basic level, grouping together these core wants and needs produces a set of generic characteristics that an HNW individual seeks from an organization before he or she will even consider placing any of his or her wealth with it.

Underlying these generic characteristics is a set of capabilities covering organization, process and technology, which the private bank must process to operate in the high net worth market.

Challenges in Customer Relationship Management:

It is indisputable that customers are the number-one asset for most companies. Without them

there would be no sales, and so eventually no business. The idea behind customer relationship

management (CRM) was to manage customer relationships in a personalized manner, across the

enterprise and throughout the lifetime of the customer.

However the picture is not as rosy as it seems to be. In truth, though, the manner in which many

businesses operate, as a collection of separate business units with the associated politics, often

gets in the way. There are few major stumbling blocks to realizing the CRM dream:

Multiple lines of business are involved, but processes rarely flow seamlessly across

departmental boundaries.

Departments need to share customer information, an act that can be both technically difficult

and politically sensitive.

13.

Departments often have their own systems, and sometimes multiple versions of systems,

housing customer data that should be common across departments and systems.

Many companies rely on their Web site to provide customers with information or to support

customer self-service, but the site often is managed by yet another department, adding to the

difficulty of keeping information up-to-date and consistent across all the various

departmental systems.

Next problem is to decide what kind of customer information is relevant and how it will be

used.

14.

CHAPTER -3

COMPANY PROFILE

Company and Product Profile:

Revenir means to return and that is exactly what we do. We help you return to doing what you should be doing ... growing your business. Whether you are the CFO or the CIO, telecommunications probably isn’t one of your core competencies.

It is, however, ours! We can take telecom costs, among a company’s highest non personnel expenses, and find huge opportunities to increase efficiency, service and reduce expenses. We help you control the costs of mobile technologies, work with each of your carriers to ensure you are getting the very lowest rates and audit all your telecom expenses.

Then we automate the whole process. Ultimately we save you time, confusion, effort and money

We collaborate with our customers from project conceptualization and throughout the life cycle, covering technical and administrative aspects. We select and mantain our development and testing tools, using industry best practices to achieve the best ROI. Designing interventions that reflect the best validated current research, so we are constantly aware of our own development needs.We runs IT smarter, faster and stronger.

That’s why the most demanding IT organizations in the world rely on RDS Software across distributed, mainframe, virtual and cloud environments. Recognized as the leader in Business Service Management, RDS offers a comprehensive approach and unified platform that helps IT organizations cut cost, reduce risk and drive business profit.

We are a company of diverse, talented people with a passion for pursuing excellence in all that we do.

To deliver the greatest results for our clients—and our stakeholders—we remain dedicated to staying at the forefront of business and technology trends. Our values are grounded in strong ethics, transparency and openness. Clients trust us, and we generally form long—lasting relationships that make us integral contributors to their organizations. In fact, 90+% of our clients return to us when they begin new initiatives.

You’ll find a global, inclusive and a richly diverse workforce. Our employees represent almost every nationality on earth so you’re sure to fit in. Ours is a vibrant, energetic environment, achievement oriented and filled with opportunity.

It is a community of the best and brightest professionals, working as close, collaborative teams, but also empowered individually to act in the best interests of clients. Under strong leadership, we expect continuing growth and global expansion.

16.

Flexibility and adaptability is built into our model. We have an advanced global delivery platform—with a full complement of technology and consulting services across most major industry segments, and a model that positions us well into the future.

Our mandate is to introduce people to the new world of Information Technology. Our goal is to make a positive impact on all involved and to be effective role models as technologists. Our vision is to emerge as a dynamic, tech savvy, customer centric and progressive world of Information Technology.

We hope to introduce new technology to the world. Our vision statement can be encapsulated in our corporate philosophy and motto of `building quality with economy’. To envision, design and construct the most magnificent landmarks and edifices; to contribute tangibly in regional and national development by way of key infrastructure projects, and to protect and preserve the environment we live in that too with economy.

At the end of the day, our vision is about making the world a better place to live in; to transform and uplift quality of living and lifestyles of each and every individual that comes in contact with us.

17.

Products

WE HAVE PRODUCT FOR EVERYONE:

APPLICATION MANAGEMENT

Out IT professionals responsible for controlling coast, delivery of products with the quality,

Responding the ever continues changing need of the business

ATTENDACE MANAGEMENT

Organizations of all sizes use time and attendance systems to record when employees start and

stop work, and the department where the work is performance.

BANKING SYSTEM

18.

Banking Software is rapidly increasing its relevance in today's global society.

Typically Banking Software refers to Core Banking Software.

CRM SOFTWARE

Customer relationship management (CRM) is all about managing the relationships you have with

your customers.

E-LEARNING

E-learning includes all forms of electronically supported learning and teaching, including

Edtech. The information and communication systems.

ENTERPRISE MANAGEMENT

The EMS services encompass implementation and management of monitoring tools for client's

worldwide. 19.

ERP SYSTEM

Enterprise resource planning (ERP)systems integrate internal and external management

information across an entire organization, embracing financial management.

HOSTEL MANAGEMENT SYSTEM

LoremIpsum is simply dummy text of the printing and typesetting industry. LoremIpsum has

been the industry's standard dummy text.

INTERNET MARKETING & SEO

RDS has dedicated team of technical Internet Marketing & SEO experts for Internet Marketing

and SEO Services Our experts provide effective and efficient eMarketing

20.

INVENTRY MANAGEMENT

Inventory management is primarily about specifying the size and placement of stocked goods.

Inventory management is required at different locations within India.

MATRIMONY PORTAL

Online Matrimony is an organized web based Matrimonial/Marriage service facilitating wishful

young men and women to find their suitable one.

MLM SOFTWARE

Complete, Automated web based "MLM Software" for MLM Business Solution. Our most

comprehensive MLM software, provides the functionality needed to tack

21.

MOBILE SECURITY

Mobile security or mobile phone security has become increasingly important in mobile

computing. It is of particular concern as it relates to the security.

OFFICE MANAGEMENT

Office Management Software is described as software which can manage a Small Medium

Business Office.

ONLINE EDUCATION

Online Education includes all forms of electronically supported learning and teaching,

including Edtech. The information and communication system

22.

ONLINE HOTEL MANAGEMENT

Online hotel reservations are becoming a very popular method for booking hotel rooms.

Travelers can book rooms from home by using online

PAYROLL SOFTWARE

Payroll Software , is an integrated accounting system which takes care of all business needs. It incorporates powerful features for maintenance

23.

Services

DATA WAREHOUSING & BUSINESS INTELLIGENC We offers Business Intelligence Services (Integration, Storage, Reporting and Analysis) either for new software solutions OR for legacy solution running in organizations to give them 360 degree view of their data, useful analytical data in quick time which can be extracted by analysts in number of hrs& can be used by organizations for making quality decisions for their business.

Safaltek Business Intelligence Services helps to our clients manage, change and transform their businesses through focused, high-quality, cost-effective business information technology solutions. 

DESIGNTo ensure the development process meets client requirements, We will present a conceptual design for review and approval. The conceptual design will be presented in the form of prototype screens and narrative descriptions of functionalities. A summary of what business requirements are being addressed by the designed solution is also included.MVCarchietecture through which software is developed in a series of iterations.

Iterations are working versions of the software that meet specific business requirements. A combination of iterations becomes a service release ready for user acceptance. RDS collaborates closely with the client to define each service release. We also provide integration testing and assist clients during User Acceptance Testing (UAT)

MANAGED SERVICESOur flexibility, operations maturity and modular solutions can reduce administrative overhead, free your talent to focus on strategic opportunities, and deliver consistent and measurable infrastructure improvements.

Our next-generation Remote Infrastructure Management 2.0 service features our automated OnTarget™ platform. Covering all phases of service delivery, it makes every aspect of your global infrastructure transparent to you and your team.

MANAGED SERVICESOur flexibility, operations maturity and modular solutions can reduce administrative overhead, free your talent to focus on strategic opportunities, and deliver consistent and measurable infrastructure improvements. Our next-generation Remote Infrastructure Management 2.0 service features our automated OnTarget™ platform. Covering all phases of service delivery, it makes every aspect of your global infrastructure transparent to you 24.

OFFSHORE OUTSOURCINGOur offshore software development services are intended to serve businesses that are software outsourcing development and programming to India. By judicious blend of Business analysis & Management with latest technology, RDS develops state-of-the-art and custom software & web based applications. RDS enable reduction in the time and resources spent for a business process to take place for the clients, and serve to eliminate functional bottlenecks.

We offer complete end-to-end and cost-effective offshore software development solutions in the most advanced Internet projects including web application and design to customers from the small and medium enterprise. With a complete spectrum of services on offer high-traffic scalable B2B and B2C web solutions, advanced e-commerce solutions, dynamic web sites we are able to take care of offshore IT projects from A -Z.

USER TRAINING:The RDS team includes a number of experienced, college-level instructors who provide user training on all new and modified software. The process involves a combination of live classroom training and webinars.

Training materials are provided at all training sessions. Following initial training, the RDShelp desk provides on-going assistance as needed.

25.

Mobile security or mobile phone security has become increasingly important in mobile

computing. It is of particular concern as it relates to the security of personal information now

stored on smartphones.

More and more users and businesses use smartphones as communication tools but also as a

means of planning and organizing their work and private life. Within companies, these

technologies are causing profound changes in the organization of information systems and

therefore they have become the source of new risks.

Indeed, smartphones collect and compile an increasing amount of sensitive information to

which access must be controlled to protect the privacy of the user and the intellectual property of

the company.

All smartphones, as computers, are preferred targets of attacks. These attacks exploit weaknesses

related to smartphones that can come from means of communication like SMS,

MMS, wifi networks, and GSM. There are also attacks that exploit software vulnerabilities from

both the web browser and operating system. Finally, there are forms of malicious software that

rely on the weak knowledge of average users.

Different security counter-measures are being developed and applied to smartphones, from

security in different layers of software to the dissemination of information to end users. There

are good practices to be observed at all levels, from design to use, through the development of

operating systems, software layers, and downloadable apps.

Office management

Office Management Software is described as software which can manage a Small Medium

Business Office. Currently there aren't many solutions which achieve this, but instead offer the

management of specific activities

26.

Trends

- CRM (Customer Relationship Management) have become more and more popular, but again,

are not sufficient to manage all office activities.

- Smartphones have also begun offering more functionality, especially in managing contacts,

appointments and email, but again, they fall short in truly offering a solution that can manage an

office.

Solutions

- Integrated Office Management: More and more software companies have begun offering truly

integrated office management applications which can manage all office activities from a single

application, thus storing all information in a central server. Such is essential for businesses as

now all information can be accessed and the time typically wasted in finding information is

greatly reduced, thus ultimately saving money for the consumer[citation needed]

Online education

Online Education includes all forms of electronically supported learning and teaching,

including Edtech. The information and communication systems, whether networked learning or

not, serve as specific media to implement the learning process.[1] This often involves both out-

of-classroom and in-classroom educational experiences via technology, even as advances

continue in regard to devices and curriculum.

Abbreviations like CBT (Computer-Based Training), IBT (Internet-Based Training) or WBT

(Web-Based Training) have been used as synonyms to online education.

Online education is the computer and network-enabled transfer of skills and knowledge. Online

education applications and processes include Web-based learning, computer-based learning,

virtual education opportunities and digital collaboration

27.

Content is delivered via the Internet, intranet/extranet, audio or video tape, satellite TV, and

CD-ROM. It can be self-paced or instructor-led and includes media in the form of text, image,

animation, streaming video and audio.

It is commonly thought that new technologies can strongly help in education. In young ages

especially, children can use the huge interactivity of new media, and develop their skills,

knowledge, perception of the world, under their parents monitoring, of course. Many

proponents of online education believe that everyone must be equipped with basic knowledge in

technology, as well as use it as a medium to reach a particular goal.

Online Hotel Management

Online hotel reservations are becoming a very popular method for booking hotel rooms.

Travelers can book rooms from home by using online security to protect their privacy and

financial information and by using several online travel agents to compare prices and facilities

at different hotels.Online hotel reservations are also helpful for making last minute travel

arrangements.

Hotels may drop the price of a room if some rooms are still available. There are several

websites that specialize in searches for deals on rooms.

Payroll Software

Payroll Software , is an integrated accounting system which takes care of all business needs. It

incorporates powerful features for maintenance of data related to general accounting, inventory

control, portfolio management, export documentation, stock maintenance, sales, purchases plus

other facilities

28.

Company Detail

Company Name REVENIR DEVELOPMENT SYSTEM PVT. LTD.

Address DEEP BUNGLOW CHOWK , MODEL COLONY,

SHIVAJI NAGAR , SENAPATI BAPAT ROAD

City PUNE

State MAHARASTRA

Pin code 411016

Phone Number – Office Landline 020-3241-2694

Fax Number 020-2683-3657

E-mail ID (for receiving buyer enquiries) kumar@revenirglobal.com

Mobile security or mobile phone security has become increasingly important in mobile

computing. It is of particular concern as it relates to the security of personal information now

stored on smartphones.

More and more users and businesses use smartphones as communication tools but also as a

means of planning and organizing their work and private life. Within companies, these

technologies are causing profound changes in the organization of information systems and

therefore they have become the source of new risks.

Indeed, smartphones collect and compile an increasing amount of sensitive information to

which access must be controlled to protect the privacy of the user and the intellectual property

of the company

29.

All smartphones, as computers, are preferred targets of attacks. These attacks exploit

weaknesses related to smartphones that can come from means of communication like SMS,

MMS, wifi networks, and GSM. There are also attacks that exploit software vulnerabilities from

both the web browser and operating system. Finally, there are forms of malicious software that

rely on the weak knowledge of average users.

Different security counter-measures are being developed and applied to smartphones, from

security in different layers of software to the dissemination of information to end users. There

are good practices to be observed at all levels, from design to use, through the development of

operating systems, software layers, and downloadable apps.

Office management

Office Management Software is described as software which can manage a Small Medium

Business Office. Currently there aren't many solutions which achieve this, but instead offer the

management of specific activities

Trends

- CRM (Customer Relationship Management)have become more and more popular, but again,

are not sufficient to manage all office activities.

- Smartphones have also begun offering more functionality, especially in managing contacts,

appointments and email, but again, they fall short in truly offering a solution that can manage an

office.

Solutions

- Integrated Office Management: More and more software companies have begun offering truly

integrated office management applications which can manage all office activities from a single

application, thus storing all information in a central server. Such is essential for businesses as

now all information can be accessed and the time typically wasted in finding information is

greatly reduced, thus ultimately saving money for the consumer[citation needed]

30.

Online education

Online Education includes all forms of electronically supported learning and teaching,

including Edtech. The information and communication systems, whether networked learning or

not, serve as specific media to implement the learning process.[1] This often involves both out-

of-classroom and in-classroom educational experiences via technology, even as advances

continue in regard to devices and curriculum. Abbreviations like CBT (Computer-Based

Training), IBT (Internet-Based Training) or WBT (Web-Based Training) have been used as

synonyms to online education.

Online education is the computer and network-enabled transfer of skills and knowledge. Online

education applications and processes include Web-based learning, computer-based learning,

virtual education opportunities and digital collaboration. Content is delivered via the Internet,

intranet/extranet, audio or video tape, satellite TV, and CD-ROM. It can be self-paced or

instructor-led and includes media in the form of text, image, animation, streaming video and

audio.

It is commonly thought that new technologies can strongly help in education. In young ages

especially, children can use the huge interactivity of new media, and develop their skills,

knowledge, perception of the world, under their parents monitoring, of course. Many

proponents of online education believe that everyone must be equipped with basic knowledge

in technology, as well as use it as a medium to reach a particular goal.

Online Hotel Management

Online hotel reservations are becoming a very popular method for booking hotel rooms.

Travelers can book rooms from home by using online security to protect their privacy and

financial information and by using several online travel agents to compare prices and facilities

at different hotels.Online hotel reservations are also helpful for making last minute travel

arrangements. Hotels may drop the price of a room if some rooms are still available. There are

several websites that specialize in searches for deals on rooms.

31.

CHAPTER-4

LITERATURE SURVEY

Literature Survey:

BOOK

Marketing Management Research Methodology

Human Resource Production and Operation Phillip Kotler Adam & Abort Aswathapa

Magazine

Value Line Eagle Eye Business World NSDL

4.1 Need & importance of customer support software

4.1.1 Root Cause Analysis

It is important to realize the real business benefits that a robust complaint management process and

root cause analysis offers to an organization.

Complaints serve as a constructive form of information from the customer, and other interested

parties, on issues and concerns that affect them –a vital source of data that when managed correctly

can enable you to recognize and correct the root cause of problems.

Complaints management isn’t just about dealing with an individual problem, it is about listening to

your customer’s need, resolving their point-of-pain issue, learning from your mistakes and building

products and services to meet their current and future needs.

By analyzing customer complaint and feedback data organizations can:-

33.

Understand customer issue and needs

Identify and remedy the root cause of poor service delivery

Improve service and product performance

Influence customer loyalty and satisfaction

The inherent value of complaint management software comes from its ability to enable

companies to improve competitive advantage, enhance the customer experience and

drive cost efficiency.

4.1.2 Customer Satisfaction & Loyalty

Common business wisdom suggests it costs up to ten times as much to attract a new

customer as it does to retain an existing one, providing the evidence – if it were needed

– of the importance of customer loyalty. Organization are continually looking at ways to

identify, nurture and encourage customer loyalty.

Part of this process involves understanding customer expectation and requirements.

There are many and varied technologies and methodologies available to build customer

insight and understand market sentiment but what many companies today fail to

recognize is that customers are already giving them vital, free information on how they

feel about them, their products and their services – it’s just that nobody seems to be

listening, Customer complaints and other forms of customer-initiated feedback represent

a reliable, accurate and fast way to get better quality data on customers’ attitudes. In

most cases , complaints and feedback come from loyal customers – not disloyal ones, as

it often thought.

These complaining customers give an organization the opportunity to recover the

failure, to make restitution and then to continue with a mutually valuable relationship.

Quite often a simple apology is all they need to remain true.

34.

Customer s who do complain about their dissatisfaction are also more likely to re-

purchase. In fact, complaining customers can become a company’s most loyal

customers. Industry research show that customers who complain and later satisfied are

up to eight percent more loyal than those who did not have a problem.

They also are more likely to tell family, close friends and work colleague how pleased

they are that the company addressed their complaints, even if the problem was not

resolved to their liking . If the problem is resolved satisfactorily, they will tell even more

people than if they had received good service in the first place. Given this propensity to

re-purchase and to recommend to others in their social and peer groups, customer

complaints are a leading indicator of customer sentiment and future economic activity.

4.1.3 profiting from priceless customer complaints

Customer who complain are like golden nuggets as they are more likely to be loyal, so

long as their issues are dealt with effectively.

PROFITING FROM COMPLAINTS : FIVE KEY STEPS

1. Optimize the accessibility of their complaints and feedback processes.

2. Invest in a robust and enterprise –proven complaints and feedback management solu-

tion to ensure all complaints are captured and managed effectively and efficiently.

3. Listen to their customers’ experiences of making a complaint.

4. Perform root cause analysis of complaints and feedback data in order to identify

process and service improvements and priorities business change initiatives.

5. Truly place the customer at the heart of their business.

Microsoft Dynamics™ CRM Customer Relationship Management: The Winning Strategy

in a Challenging Economy White Paper

Date: April 8th, 2009

35.

Introduction

MARKET BACKDROP

As the economic environment continues to fluctuate, many organizations are asking themselves

what strategies they can pursue to bring tangible business benefits while taking stock of the

economic conditions. In a growth economy, businesses typically work hard to expand their

customer base and spend aggressively to stoke the growth engine. When money is tight

however, existing customer relationships grow in importance as organizations seek a cost-

effective way to nurture business expansion.

And while there is no magic pill or panacea, customer relationship management (CRM)

solutions can provide the foundation for sustainable growth and enable organizations to survive

and thrive in these uncertain times.

PLANNING FOR SUCCESS

While the natural reaction for many companies in challenging times is to become inwardly

focused and concentrate on conserving capital, history has shown that it is in these critical times

that organizations have a significant opportunity to outflank their competition. In fact, a study

conducted by Bain and Company found that during the last recession more than a fifth of the

companies in the bottom quartile jumped to the top quartile in their industry and more than a

fifth of “leadership companies” fell to the bottom quartile (Bain and Company 2008).

Forward-looking companies maintain their unwavering focus on investing in and optimizing

existing assets through both good and bad times, coupled with a concerted effort to exploit

operational efficiencies. A study by the McGraw-Hill Laboratory shows that companies who

continued strategic spending during a recession outperformed non-spenders and experienced

revenue growth of 275 percent during the first full year of recovery (McGraw-Hill).

36.

And the key asset that lies at the center of every business is customers. It is by protecting and

investing in this single most important asset that companies can establish the foundation for a

sustainable business. In fact, improving customer loyalty and experience are listed in Forrester’s

Trends 2009 report as the top two concerns of business executives (Band, Leaver, and Magarie

2008).

In the Marketing Executives Networking Group survey, customer satisfaction and retention

were noted as the top executive priorities for 2009, both rising in importance from 2008 (Tsai

2009). These trends are likely to continue—and even intensify—as businesses increase their

focus on existing customers.

The Role of CRM in a Challenging Economy

CRM: THE ENABLING TECHNOLOGY

In today’s economy organizations can’t rely on brute strength to maximize the value of their

customer relationships; rather, they need enabling technologies and tools. CRM is a technology

that allows organizations to track and leverage every customer interaction to maximize revenue

opportunities and improve customer loyalty. But CRM does much more than just track customer

interactions. It also helps organizations optimize their operations by automating routine tasks

and standardizing best practices. Ultimately, CRM allows organizations to better acquire,

manage, serve, and extract value from their customers while improving operational efficiency—

something that is critical in today’s economy.

In fact, customer relationship management was noted as a leading priority of business

executives by AMR Research in 2008 (Fletcher 2008). This trend has continued, with Forrester

Research showing that more than a third of enterprises plan for CRM upgrades in 2009 (Marston

2009). And Nucleus Research goes on to state that, “If there is one technology area where you

should increase your investment today [in these uncertain economic times], it’s CRM” (Nucleus

Research 2008).

Customer Relationship Management: A Framework, Research Directions, and the Future

Russell S. Winner Haas School of Business University of California at Berkeley

April 200137.

Introduction

The essence of the information technology revolution and, in particular, the

World Wide Web is the opportunity to build better relationships with customers than has

been previously possible in the offline world. By combining the abilities to respond

directly to customer requests and to provide the customer with a highly interactive,

customized experience, companies have a greater ability today to establish, nurture, and

sustain long-term customer relationships than ever before. The ultimate goal is to

transform these relationships into greater profitability by increasing repeat purchase rates

and reducing customer acquisition costs.

Indeed, this revolution in customer relationship management or CRM1 as it is

called, has been referred to as the new “mantra” of marketing.2 Companies like Siebel,

E.piphany, Oracle, Broadvision, Net Perceptions, Kana and others have filled this CRM

space with products that do everything from track customer behavior on the Web to

predicting their future moves to sending direct e-mail communications. This has created

a worldwide market for CRM products and services of $34 billion in 1999 and which is

forecasted by IDC to grow to $125 billion by 2004.

The need to better understand customer behavior and focus on those customers

who can deliver long-term profits has changed how marketers view the world.

Traditionally, marketers have been trained to acquire customers, either new ones who

have not bought the product category before or those who are currently competitors’

customers.

This has required heavy doses of mass advertising and price-oriented

promotions to customers and channel members. Today, the tone of the conversation has

changed from customer acquisition to retention. This requires different set of tools. A good

thought experiment for an executive audience is toask them how much they spend and/or focus

on acquisition versus retention activities.

While it is difficult to perfectly distinguish the two activities from each other, the answer

is usually that acquisition dominates retention.

38.

The impetus for this interest in CRM came from Reichheld4 where he showed the

dramatic increase in profits from small increases in customer retention rates. For

example, his studies showed that as little as a 5% increase in retention had impacts as

high as 95% on the net present value delivered by customers (advertising agencies) with a

low of 35% (computer software).

Other studies done by consultants such as McKinsey

have shown that repeat customers generate over twice as much gross income than new

customers. The considerable improvements in technology and innovation in CRMrelated

products have made it much easier to deliver on the promise of greater

profitability from reduced customer “churn.”

And compared to setting up a new manufacturing plant, aggressively hiring new sales and

customer service representatives, or raising capital to acquire other companies, CRM is a

technology that can be implemented rapidly with relatively limited costs.

It is something that any company should consider as it attempts to ensure success in these

challenging times. Put simply, CRM can provide real business benefits in times where every

dollar counts.

FIVE KEY STRATEGIES WITH CRM

But what exactly does CRM enable and what are the potential benefits? While there are surely

many approaches being espoused in the market today, we believe there are five main strategies

that companies can employ to survive and thrive during uncertain economic conditions:

1. Focus on existing customers

2. Maximize revenue opportunities

3. Do more with less

4. Reduce operational costs

5. Optimize existing IT assets

39.

This paper will demonstrate how Microsoft Dynamics® CRM business software can provide

organizations with the tools and capabilities they need to successfully achieve those five

strategies and how to turn a down economy into an opportunity to grow.Integration of customer

relationship management: status quo and implications for research and practice

C.R.M

MATTHIAS MEYER*

Institute of Corporate Development and Organization, Munich School of Management,

University of Munich, Kaulbachstrasse 45/I, D-80539 Munich, Germany

LUTZ M. KOLBE

Competence Center Customer Management, University of St. Gallen, Institute of

Information

Management, Mueller-Friedberg-Strasse 8, CH-9000 St. Gallen, Switzerland

INTRODUCTION

Challenge

Generally, customer relationship management (CRM) is a concept that comprises the

establishment, development, maintenance and optimization of long-term, mutually valuable

Relationships between customers and organizations (Payne and Royals, 2001, pp. 3–4).

Customer Orientation and especially CRM are important preconditions for the realization of

profitability.

Several researchers have assessed this causality since the 90s (e.g., Reich held and Sesser, 1990;

Reich held and Teal, 1996; Blat berg and Dighton, 1996; Young and Anew, 2000; Reinartz and

Kumar, 2000, 2003). CRM is a multi-faceted, comprehensive phenomenon which includes

strategic aspects, customer-oriented processes and organisational changes through projects as

wellas performance measurement. In addition, IS (information systems) implementation—which

hasmistakenly become a synonym for CRM—is an important element.True CRM success stories

have rarely surfaced—despite vendor and consultant hype.

40.

Althougha few academic authors (e.g., Bull, 2003, p. 592; Kotorov, 2002) have cited frustration

with failedCRM projects, lost investments and absence of ROI, there are various studies by

consultants, orpractice-oriented research institutes listing suggestion reasons for these failures

(see Table 1).

Reasons forwarded for failure range from bad project management to a lack of collaboration

(Kale, 2004; Badgett and Connor, 2003; April and Harreld, 2002), with the latter largely due to

various technical and organisational barriers (Winer, 2001, p. 102; Dowling, 2002, p. 88; Piercy,

1998). Accordingly, integrative activities, such as cross-functional commitment or

interorganisationalprocesses, are cited as the most critical success factor (Wilson et al., 2002, p.

208;Moorman and Rust, 1999; Kale, 2004; Badgett and Connor, 2003).

On the whole, a lack of alignment and underestimation of its complexity are the prime reasons

for CRM projects’ failure (Bull, 2003, pp. 592, 594; Piercy, 1998). This becomes explicable if

oneconsiders that primarily the introduction of CRM involves various stakeholders, particularly

marketing and IT specialists, with different knowledge, terminology as well as experiences and

expectations

.

This often implies a domain-specific, single-faceted approach to a complex researchissue by

each of the stakeholders. Consequently, from the implementation’s initial steps to its

fulloperation, the co-ordination and interrelationships within the firm pose enormous

challengesfrom the strategic, process and system perspectives.

41.

Research questions and the paper’s structureFrom our point of view, CRM requires adequate

implementation, which implies a strategic aswell as an organizational task (see Table 1 and

Gambeson, 1994; Cravens and Percy, 1994;Gummesson, 1998; Piercy, 1998). However, we

observe that CRM is predominantly considereda matter of service rather than one of

organisational design (Kotorov, 2002, p. 218).

According to Colgate and Danaher (2000), there is clear demand for research in the field

ofimplementing and managing CRM. Our assumption is that the co-ordination of

customerrelationship activities is necessary on various, if not all, of a firm’s dimensions, such as

strategy,processes, or technology, to ensure success.

In this context we argue for the application ofrelevant approaches from organisational theory,

e.g., theories of the firm.This paper strives to address the following two research questions:

Are there any approaches to CRM integration in the literature to address its complex and

interdisciplinary nature with respect to the theories at hand?

Are we able—based on selected studies’ results and the synopses of papers in leading

journals—to show on which areas theory and practice have to focus to make CRM

integration initiatives more successful in future?

42.

CHAPTER-5

OBJECTIVES

Objective of the study of CRM:

Provide product information, product use information, and technical assistance on web

sites that are accessible 24 hours a day, 7 days a week

Identify how each individual customer defines quality, and then design a service strategy

for each customer based on these individual requirements and expectations.

Provide a fast mechanism for managing and scheduling follow-up sales calls to assess

post-purchase cognitive dissonance, repurchase probabilities, repurchase times, and re-

purchase frequencies.

Provide a mechanism to track all points of contact between a customer and the company,

and do it in an integrated way so that all sources and types of contact are included, and

all users of the system see the same view of the customer (reduces confusion).

44.

Provide a fast mechanism for managing and scheduling maintenance, repair, and ongo-

ing support (improve efficiency and effectiveness).

Keeping Existing Customers:

Grading customers from very satisfied to very disappoint should help the organization in

improving its customer satisfaction levels and scores. As the satisfaction level for each customer

improves, so shall the customer retention with the organization.

Maximizing Life time value:

Exploit up-selling and cross-selling potential. By identifying life stage and life event trigger

points by customer, marketers can maximize share of purchase potential.

Thus the single adults shall require a new car stereo and as he grows into a married couple his

needs grow into appliances.

Increase Loyalty :

Loyal customers are more profitable. Any company will like its mindshare status to improve

from being a suspect to being an advocate. Company has to invest in terms of its product and

service offerings to its customers. It has to innovate and meet the very needs of its customers so

that they remain as advocates on the loyalty curve. Referral sales invariably are low cost high

margin sales

Scope of the Project

The study was carried out for REVENIR SOFTWARE DEVELOPMENT PVT.LTD

in Delhi region.

The duration of the study was two months.

The study was carried out as a part of the Sales & Marketing Division of the company. 45.

CHAPTER-6

RESEARCH METHODOLOGY

Research Methodology

Research Methodology for CRM

Meeting and satisfying each customer’s need uniquely and individually. In the mass markets

individualized information on customers is now possible at low costs due to the rapid

development in the information technology and due to availability of scalable data warehouses

and data mining products.

By using online information and databases on individual customer interactions, marketers aim to

fulfill the unique needs of each mass-market customer. Information on individual customers is

utilized to develop frequency marketing, interactive marketing, and after marketing programs in

order to develop relationship with high-yielding customers.

In the context of business-to-business markets, individual marketing has been in place of quite

some time. Known as Key Account Management Program, here marketers appoint customer

teams to husband the company resources according to individual customer needs.

Continuity Marketing Programs:

Take the shape of membership and loyalty card programs where customers are often rewarded

for their member and loyalty relationships with the marketers. The basic premise of continuity

marketing programs is to retain customers and increase loyalty through long-term special

services that has a potential to increase mutual value through learning about each other.

Partnering Programs:

The third type of CRM programs is partnering relationships between customer and marketers to

serve end user needs. In the mass markets, two types of partnering programs are most common:

Co- branding and affinity partnering.

47.

Missing process of CRM:

Traditionally customer relationship management (CRM) revolves around the three functions of

selling, marketing and support. Various process models have been built around how these

functions are integrated and operated in a customer oriented enterprise. There is however a

fourth critical function that is lacking in most CRMmodels.The fourth function that often is the

source of a competitive edge is that of innovation. Companies must continually reinvent

themselves to deliver an improved and often a totally new value offering to their customer base.

CRM must provide the customer intelligence that feeds information back into the enterprise’s

knowledge management processes where it can trigger new innovation processes. When CRM is

integrated into the innovation process, significant value can be derived from faster time to

market cycle times and with new processes and services.

Marketing automation must ensure that the innovation processes are actually market driven. A

market driven innovation process must include both strategies that are focused on satisfying

customer requirements as well as strategies focused at redefining customer requirements. Sales

automation should be integrated with the innovation process by ensuring that all sales channels

are prepared and ready to take new processes and services to market before competitive forces

can react. Customer service automation must be designed to empower the customer with the

option of assisting with the design of the value offering.

Redefining CRM around innovation, sales, marketing and service can identify new competitive

opportunities for an enterprise. The remaining question is whether companies are prepared to

take the initiative and expand the definition of customer relationship management to include the

process of innovation. The pressure to deliver results within the traditional definition of CRM

already overwhelms companies. The dialog must start rather earlier than later because the

competitive window of traditional CRM is decreasing and customer demands for a more

innovative and responsive enterprise will increase.

48.

Architecture of CRM:

There are three parts of application architecture of CRM:

1. Operational - automation to the basic business processes (marketing, sales, service)

2. Analytical - support to analyze customer behavior, implements business intelligence alike

technology 3.Collaborative - ensures the contact with customers (phone, email, fax, web, SMS,

post, in person)

1. Operational CRM:

Operational CRM means supporting the "front office" business processes, which include

customer contact (sales, marketing and service). Tasks resulting from these processes are

forwarded to resources responsible for them, as well as the information necessary for carrying

out the tasks and interfaces to back-end applications are being provided and activities with

customers are being documented for further reference. Operational CRM provides the following

benefits:

Delivers personalized and efficient marketing, sales, and service through multi-channel

collaboration

Enables a 360-degree view of your customer while you are interacting with them

Sales people and service engineers can access complete history of all customer interac-

tion with your company, regardless of the touch point. The operational part of CRM typi-

cally involves three general areas of business:

Sales force automation (SFA):

SFA automates some of the company's critical sales and sales force management functions, for

example, lead/account management, contact management, quote management, forecasting, sales

administration, keeping track of customer preferences, buying habits, and demographics, as well

as performance management.

49.

SFA tools are designed to improve field sales productivity. Key infrastructure requirements of

SFA are mobile synchronization and integrated product configuration.

Customer service and support (CSS):

CSS automates some service requests, complaints, product returns, and information requests.

Traditional internal help desk and traditional inbound call-center support for customer inquiries

are now evolved into the "customer interaction center" (CIC), using multiple channels (Web,

phone/fax, face-to-face, kiosk, etc).

Key infrastructure requirements of CSSinclude computer telephony integration (CTI) which

provides high volume processing capability, and reliability.

Enterprise marketing automation (EMA):

EMA provides information about the business environment, including competitors, industry

trends, and macro-environmental variables. It is the execution side of campaign and lead

management. The intent of EMA applications is to improve marketing campaign efficiencies.

Functions include demographic analysis, variable segmentation, and predictive modeling occurs

on the analytical (Business Intelligence) side. Integrated CRM software is often also known as

"front office solutions." This is because they deal directly with the customer. Many call centers

use CRM software to store all of their customer's details.

When a customer calls, the system can be used to retrieve and store information relevant to the

customer. By serving the customer quickly and efficiently, and also keeping all information of a

customer in one place, a company aims to make cost savings, and also encourage new

customers.CRM solutions can also be used to allow customers to perform their own service via a

variety of communication channels. For example, you might be able to check your bank balance

via your Earphone without ever having to talk to a person, saving money for the company, and

saving your time.

50.

2. Analytical CRM:

In analytical CRM, data gathered within operational Command/or other sources are analyzed to

segment customers or to identify potential to enhance client relationship. Customer analysis

typically can lead to targeted campaigns to increase share of customer's wallet.

Examples of Campaigns directed towards customers are:

Acquisition: Cross-sell, up-sell

Retention: Retaining customers who leave due to maturity or attrition.

Information: Providing timely and regular information to customers.

Modification: Altering details of the transactional nature of the customers' relationship.

Analysis typically covers but is not limited to:

Decision support: Dashboards, reporting, metrics, performances.

Predictive modeling of customer attributes

Strategy and Research Analysis of Customer data may relate tone or more of the follow-

ing analyses:

Contact channel optimization

Contact Optimization

Customer Acquisition / Reactivation / Retention

Customer Segmentation

Customer Satisfaction Measurement / Increase

Sales Coverage Optimization

Fraud Detection and analysis

Financial Forecasts

Pricing Optimization

Product Development

51.

Program Evaluation

Risk Assessment and Management

Data collection and analysis is viewed as a continuing and iterative process. Ideally, business

decisions are refined over time, based on feedback from earlier analysis and decisions.

Therefore, most successful analytical CRM projects take advantage of a data warehouse to

provide suitable data. Business Intelligence is a related discipline offering some more

functionality as separate application software

3. Collaborative CRM:

Collaborative CRM facilitates interactions with customers through all channels (personal, letter,

fax, phone, web, e-mail) and supports co-ordination of employee teams and channels. It is

absolution that brings people, processes and data together so companies can better serve and

retain their customers.

The data/activities can be structured, unstructured, conversational and/or transactional

innature.Collaborative CRM provides the following benefits:

Enable efficient productive customer interactions across all communications channels

Enables web collaboration to reduce customer service costs

Integrates call centers enabling multi-channel personal customer interaction

Integrates view of the customer while interaction at the transaction level.

52.

CHAPTER-7

DATA ANALYSIS &

INTERPRETATION

1. Organization’s understanding about customer needs via knowledge learning.

Answer No of Respondents PercentageYes 140 70%No 60 30%

70%

30%

PercentageYes No

Interpretation:

Graph indicates that the organization understands the Customer needs via knowledge learning. It shows that the organization is prepared to face new challenges coming from customers.

2. Way of communication of Revenir with Customers.

Percentage

BestUpto the MarkNeed to Improve

Interpretation:

Graph indicates that the way of communication of Revenir is fairly good but there is still scope of improvement in the way of communication in Revenir. Revenir can train its employees to strengthen this area.

3. Information sharing of Revenir with all points of contacts

Answer No of Respondents PercentageBest 60 30%Up to the mark 120 60%Need to Improve 20 10%

Percentage

YesNo

Interpretation:

Graph indicates that the way of information sharing within Revenir is good and is shared with maximum area. It can focus on the least area which is uncovered

4. Revenir’s product designing strategy

Answer No of Respondents PercentageYes 168 84%No 32 16%

Answer No of RespondentsInvolving actual customers 10Hiring an Agency 32Involving industry experts and consultants 98Other 60

Involving customers Hiring Agency Involving expers and Consultants

Other0

20

40

60

80

100

120

Roles involving in designing strategy

Interpretation:

Graph indicates that Customer involvement in deciding Revenir’s product design strategy is very less. This makes Revenir non customer centric. Revenir should consider this thing as critical and focus on involving customers.

5. Revenir’s following timelines to customers

Answer No of RespondentsPercentage

Yes 120 60%

No 80 40%

Percentages

YesNo

Interpretation:

Graph indicates that Revenir follows timelines with customers but still can improve it.

6. Queries getting from customers after sales.

0-20 20-40 40-60 60-80 More than 800

10

20

30

40

50

60

70

Percentage

Percentage

Interpretation:

Graph indicates that Revenir is getting 20-40 % queries from most of the customers which indicates it is fairly doing well.

7. Feedback on past queries.

Answer No of Respondents Percentage0-20 20 10%20-40 60 30%40-60 50 25%60-80 40 20%More than 80 30 15%

AnswerNo of Respondents Percentage

Yes 130 65%No 70 35%

Percentage

YesNo

Interpretation:

Graph indicates that Revenir is continuously reviewing the past queries which means Revenir can build long term relations with many customers.

8. Percentage of IT/ITeS service usage

0-25% 25-50% 50-75% More than 750

20

40

60

80

100

120

No of Responses

No of Responses

Interpretation:

Graph indicates that Revenir has a scope to focus on IT, ITeS areas in CRM.

Answer No of Respondents0-25% 2025-50% 1050-75% 110More than 75 60

9. Customer individual attention on scale of 1-5

1 2 3 4 50

20

40

60

80

100

120

140

160

Responses

Responses

Interpretation:

Graph indicates that Revenir provides individual attention to Customers and doing well in this area.

Answer No of Respondents1 52 203 1404 255 10

10. Revenirs areas of improvement

Timeline After Sale Service Regular Feedback Other0

20

40

60

80

100

120

140

Responses

Responses

Interpretation:

Graph indicates that Revenir needs to improve on some other areas which may include its behavior and way of communication with customers

11. Easiness with CRM

Answer No of RespondentsTimeline 10After Sale Service 20Regular Feedback 40Other 130

Responses

Very EasyFairly GoodAverageDifficultVery Difficult

Interpretation:

Graph indicates that Revenir needs to improve its CRM

Answer No of RespondentsVery Easy 20Fairly Good 30Average 100Difficult 35Very Difficult 15

CHAPTER-8

OBSERVATIONS & FINDINGS

8.Observations& Findings

The customers have become aware about the need of installing surveillance systems.

Most of the clients while installing surveillance systems prefer brand and quality.

The company should pay more attention to create brand awareness of Revenir Development Software

Various promotion schemes should be implemented by the company to increase the sales of the company

The company should concentrate on after sales services.

Existing customers of Revenir Development Softwareare satisfied with after sales Service, with few exceptions.

In are, which we were given out of 800 clients we have mostly found that

they are not interested in the financial portfolio restructuring. We found

90.7% no interested and 9.3% are interested in the city.

Most of the clients whom, we met Government employees, businessman,

Hotels, malls, restaurants and chaiwala also. What about their interested in

trading.

Most of the clients invested in the IPO, Trading, and Investment, future and

options and commodity markets. Out of 800 Most of the clients Interested in

trading.

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CHAPTER-9

CONCLUSION

9.Conclusion

In the past, CRM was mostly about the technology, not about the customer. There is a change in

the way the organizations do business. At a technology level, CRM is increasingly about

conjoined best-of-breed applications delivered via portal technologies. At a business level, it is

beginning to invade traditional territories occupied by brand management or customer support.

Peel shows companies how to make the shift to the new paradigm.

The CRM vendors look like they have got their act together in terms of coupling their wares to

the needs of the business. The market now distinguishes between CRM and eCRM. One would

be forgiven for thinking that this differentiation was contrived to allow the vendors to retreat

back to pre ecommerce CRM. But the opposite is true. eCRM is the new game and the vendors

are being bullish about it. It may well be worth creating a CRM vendor index, as I think that it

will be a good indicator of confidence in business in general and technology in particular.

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CHAPTER-10

SUGGESTIONS & RECOMMENDATIONS

10. Suggestions/ Recommendations

5.3 Recommendations

 Keep customers in mind. While the technology that enables successful

CRM is important, at its heart CRM is a business strategy. Finding out how

technology can enable all of your company's touch points to facilitate its cor-

porate strategy is key.

Build a team. Before selecting your CRM software, form a CRM team with

reps from each department to make sure their colleagues' needs and concerns

are addressed

Pick your CRM team wisely, as it should evangelize the new system when it

arrives.

Find some commonality among your best customers in your database and

cross reference that with prospects from external databases to pick the most

profitable customers.

Create a project checklist. Companies need to consider the following six

steps when implementing their CRM initiatives:

71.

-Creating a clear strategy,

-Addressing organizational issues

-Enable processes

-Implementing the appropriate technologies

-Recording and tracking the data that drives the insight

-Measuring the appropriate metric

Consider people, process, and technology. One of the most common reasons

why CRM initiatives fail is that executives tend to think of CRM as an IT

project. In fact, it is an organizational and business-process change that re-

quires companies to think about people, process, and technology to succeed

 There should be more and more emphasis given by the company for satisfy-

ing the customer up to a apex limit and by providing the utility of every

penny of his money.

There should be more use of information technology.

The company should be flexible to bend its rules and procedures in the

clients favor.

The company can communicate and develop stronger customer bonding by providing social and financial benefits.

Revenir development system Pvt ltd. name doesn’t appear in “google”

when someone searches for business partner for software in Pune. They

have to redesign their website by using SEO (search engine

optimization) technology.

72.

CAHPTER-11

BIBLIOGRAPHY

Bibliography

Magazines

o Business World

o Business Today

o Business India

Newspapers

o Times Of India

o Financial Express

o Economic Times

Websites

o www.crm2day.com

o www.salesforce.com

o www.bitpipe.com

o www.customerservicemanager.com

o www.serachcrm.com

o www.darwinmag.com

o www.crmassist.com

o www.google.co.in

o www.yahoo.com

Reference Books

o CRM: Redefining Customer Relationship Management

o Why CRM Doesn’t Work?

o CRM: Getting It Right

74.