Crm in Icici

Only available on StudyMode
  • Download(s) : 174
  • Published : September 12, 2010
Open Document
Text Preview
CONTENTS
Acknowledgement ................................................................................................................................... 3 CRM in new generation private banks: a case of ICICI Bank ................................................................... 4 CRM at ICICI Bank ................................................................................................................................ 5 Implementing CRM at ICICI Bank .......................................................................................................... 6 Interview with an employee ..................................................................................................................... 8 Benchmarks/Results ................................................................................................................................ 9 Conclusions ........................................................................................................................................... 10 References............................................................................................................................................. 11 Websites/papers ................................................................................................................................. 11 Database............................................................................................................................................ 11 | CRM Practices in new generation Private Banks: A Case of ICICI Bank ACKNOWLEDGEMENT

This report is submitted in partial fulfillment of MBA Program of ICFAI Business School. We would like to express our sincerest gratitude to Prof Suresh Chandra Bihari for his continued guidance, encouragement and valued insights that have made this exercise exciting and an extremely useful learning experience. | CRM Practices in new generation Private Banks: A Case of ICICI Bank CRM IN NEW GENERATION PRIVATE BANKS: A CASE OF ICICI BANK

Introduction CRM is an acronym for ‘Customer Relationship Management’. It’s a set of strategies, processes, metrics, organizational culture and technology solutions that enhance an organization's ability to see the differences in its present & prospective customers, track new opportunities to better serve customers and act, instantly and profitably, on those differences and opportunities. Recently CRM has taken a center stage in the business world with businesses concentrating on saving money and increasing profits by redefining internal processes and procedures. It costs a company dramatically less to retain and grow an existing client, than it does to court new ones. The aim of CRM is to optimize the use of technology and human resources. CRM services consist of the ( Implementation services ( Consulting services (following major segments: CRM (Outsourcing services Training services | CRM Practices in new generation Private Banks: A Case of ICICI Bank CRM AT ICICI BANK

Emphasizing on the importance of CRM one of the ICICI employees said, “With the overall improvement in the ETL1 process made possible by PowerCenter, we benefited from greater data immediacy for business users and more reliable information, which resulted in quicker analysis and timely reporting.” —Gurnam Saini, Assistant General Manager, ICICI Bank CRM at ICICI Bank involves increased communication between the bank and its present and prospective customers. Its philosophy focuses on each and every customer’s satisfaction. CRM facilitated coordination of multiple business functions & multiple channel of communication with the customers to carry out customer management more efficiently. It also automated the process flow tracking in the product sales process and helped generate customized reports and promote cross-selling. The typical components of a CRM strategy at ICICI are as follows: Understand and differentiate: Understanding customers is important in order to develop a sound...
tracking img