Information System for Managers

Topics: Customer relationship management, Customer service, Enterprise resource planning Pages: 4 (1555 words) Published: October 28, 2014

Rajat, a young entrepreneur is planning to invest in a new chain of restaurants. In his opinion, keeping customers happy, not only by providing good food, but also excellent service is the key to staying competitive. Explain in your own words, how customer relationship management is proving to be a successful tool for organizations to retain and attract new customers. Suggest different ideas that Rajat can use to keep the customers happy in his chain of restaurants. Rajat, restaurant business faces following challenges: on busy nights – all tables get booked, customers are lined up and waiters are occupied serving meals and clearing tables and managers are busy to make sure that the show runs smoothly and happy satisfied customers strolls out of the door. Challenges in Restaurant industry:

As per statistics data, between 60 – 80% of new restaurants fail within the first year. Around 70% of those that make it past the first year are likely to close their doors within the next three to five years. For those who sustain, life is not easy as competition is around every corner. Customers have endless choice. The biggest challenge is how to stand out of the crowd profitably. CRM helps to achieve the objective of having a constant stream of profitable business by happy and satisfied customers. Advantages of CRM:

Facilitate long term value and relationship with their customers helps restaurants with better service
increased profits
greater market reach
enhanced business processes
Lower operational cost through a range of software and services How Customer Relationship Management Software helps:
1. Building customer database
CRM collates customer information and provide the restaurant owners with following information which helps owners to know there customers better: Customer contact details
Frequency of visits
Meal or menu preferences
Average spend per visit
When the customer information and point of sale data is linked, insightful reports and analysis...
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