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Prof. Satya Sidhartha Panda Bangalore (India) E-mail: /

Abstract

This paper attempts to persuade the banking industry to recognize and Increasing sophisticated approaches and techniques to customer relations, value proposition development and life time value calculation will help companies better in understanding how value should be created for customers and the enterprise. E-business refers to any electronic means of collaboration or coordination between organizations. In simple terms, e-Business is the use of Information Technology to exchange information and conduct transactions among enterprises and individuals, both business to business (b2b) and business to consumer (b2c). With the availability of more affordable e-Business software and service offerings in the market, many enterprises in India are likely to embrace these applications in the near future. When people ask, -What do you mean by CRM?- the literal answer is, -Customer Relationship Management,- but that doesn’t really convey much in terms of what all CRM does for a business. This CRM definition is too narrow to really explain everything the system does if it is working to its fullest potential and is user-friendly enough to expand and grow as a customer-client relationship changes and grows.

CRM is a business philosophy, a bent of mind that aims at understanding and managing the needs of the customers. A successful CRM implementation will enable the marketing people to make quick, informed and intelligent decisions, create cross selling and up selling opportunities, measuring marketing effectiveness in value creation and deliver personalized customer care. The key here is to adopt a truly Customer-Centric approach that touches every point and more importantly every person in the company. Everyone in the company must live and breathe customer focus for CRM to work. Key words : CRM, Value Proposition, Customer Care, Implementation.

INTRODUCTION: Satisfaction drives the engines for business to invest and reap benefits. Satisfaction makes companies to consider their customers as catalyst, towards their growth and prosperity. Most of all satisfaction brings life and business much closer towards moments of worthiness of the time spent. CRM has already made a big impact in the world of customer service and will continue to do so. As more and more companies become customer-centric those that fail to do so will lose competitive advantage. The real value of CRM lies in harnessing the potential of people to create a greater customer experience, using technology of CRM as the enabler. Value creation process is a critical component of CRM as it translates business and customer strategies into specific statements of what value is to be delivered to customers and, consequently, what value is to be delivered to the supplier organisation. The value management process is crucial to transforming the outputs of the strategy development process in CRM into programmes that both extract and deliver value. Only a balanced value exchange will ensure that both parties enjoy a good return on investment, leading to a good long term, profitable relationship. Achieving an ideal equilibrium between giving value to customers and getting value from customers is a crucial component of CRM. Increasing sophisticated approaches and techniques to customer segmentation, value proposition development and life time value calculation will help companies better in understanding how value should be created for customers and the enterprise.

CRM in the broader sense encompasses not only customer relationship management itself but how customer relationship management is handled and the most important elements of a CRM program that are essential to its being successful. The range of CRM software options vary from those that provide simple customer tracking and live chat capabilities to the more complex CRM solutions that can integrate all of the customer relationship data an enterprise has on each client past, present and future in a dynamic information data network. With the advent of better computing and communications technology, the marketplace is loosing all boundaries and country specificities. Limited sources of growth and higher prospect of maturity in local markets mean that companies are increasingly facing the need to operate, compete, and communicate on a global level by sharing knowledge about different cultures, environments, technologies, and customers. Mergers and acquisitions have forced companies to synchronize the existing systems with their new products and features by adopting standard business solutions. Therefore, new products and services are rapidly taking on new global perspectives. E-business applications such as ERP, SCM, CRM, or e-commerce are looked upon as strategic tools for major business improvements, enable the breaking down of boundaries-departmental and geographical. The inherent flexibility of these applications is being leveraged by global companies to implement their global strategies and local tactics by making minor changes in the enterprise solution. Over the past two to three years, e-Business applications such as ERP, SCM, and CRM have witnessed lot of transition globally. Enhanced functionalities and vertical centric solutions have evolved providing companies solutions that cater to their needs even better than in the past. Vendors have even tailor made the solutions to suit not only different business verticals but also business sizes.

Fig. 1. Best-fit sectors for CRM practices and packages

Note: Figure Source from Icicle Consultancy, Mumbai, INDIA

Senior vice president Girish G Vaidya who heads the Banking Business Unit (BBU) at Infosys Technologies says, -In order to provide an end-to-end solution for banks, banking product vendors should have three products-core banking, vertical-specific CRM and risk management software.- Though banks, telcos, and software houses use traditional CRM products, the basic CRM model has problems like not satisfying the vertical requirement, which comes up in the second phase. The vertical CRM provides a 360-degree view of the customer. The Infosys Finacle CRM product is being used by the National Commercial Bank of Jamaica. The bank is using all of Infy’s products, including the recently introduced CRM product. Infy has been successful in India too, bagging Unit Trust of India (UTI) as its first Indian customer for Finacle CRM. Infosys is positioning itself as the only vendor that satisfies two of the three requirements of banks, by offering core banking and four specialised products. Infosys recently bought technology from Trivium and created Finacle CRM, a banking-specific CRM product. Vaidya says, -Infy does not have a product for risk management for treasuries but we have alliances to fill up the gap. However, there is a big opportunity in services such as assets liability management and trading risk management.- Business Situation : Keeping in mind the growing financial and banking business ,the company wanted to provide adequate customer services and reporting capabilities .It wanted a powerful,offordable and scalable customer relationship Management Solutions . Benefits : Flexible and customizable soluations Increases Business opportunities Secures customer information Improves Business management Simplifies development The CRM soluation provided basic insights into following common modules and functionalities developed by Religare technnova specifically for capital market / brokerage : Lead management Contact management Channel partner management Campaign Reporting automation /compliance reporting automation The company found that the Dynamics CRM 4.0 Platform provided the perfect frame wok on which it could build such a comprehensive and customized CRM Solution , because Dynamics CRM is built on a sophisticated line -of-business application platform; It provides the basic required services upon accountable for new leads and manage the process through entire customer management life cycle .

Secures Customer Information : As the Bank handles a large number of financial translations ,security of data is absolutely essential .For each department, different segments are created so that, only that segments can access the data .A concerted effort was made to import logic as well.Such as end-to-end metadata relationships and improved workflow, have helped the company to streamline business operations and provide an integrated view and functionality to its employees across the country .

A. From the point of view of Business Firms: How business firms perceive CRM, What gadgets are used by the business firms to create CRM How do business firms create value in their offers How business firms assess the effectiveness of CRM Programmes Role of electronic devices in managing customer relations and value chain Problems faced by business firms in managing customer relations and value chain The future of CRM and Value Chain B. From the point of View of Customers: How do customers perceive CRM How do customers perceive Value Customer satisfaction with regard to CRM and Value Customer Behavior towards firms offering high value versus low value Customer loyalty and CRM Customer irritation with CRM Programmes Customers problems and CRM Customer compatibility and convenience with eCRM Expectations of customers for CRM and Value Chain Management Customer rating of various firms on CRM and Value Creation C . From the point of other parties: Role of government in CRM and Value Chain Management Role of Social and Consumer Organisations in CRM and Value Chain Management Availability of necessary infrastructure for CRM CRM Software Multinational Corporations and CRM CRM and Value Chain Management in Globalised World International Legislation and CRM The overall end-user understanding of e-Business applications and its capabilities in the Indian enterprises is very low. Strategic steps are being taken by enterprises to educate the market, but it is a long time still before majority of the end-users attain certain minimum understanding of e-Business applications and its benefits.Low awareness can be tackled by educating the end users, but what compounds the problem is faster spread of failure stories. Fallacy of faster communications medium has affected technology products the most as low educated end users fall prey of these non-successful stories Service is becoming the key to differentiation and this is driving corporates to adopt CRM solutions. Vendors, both domestic and international, are making their presence felt in the Indian sub-continent either directly or through multiple partners. Given the high churn rate in the telecom sector, an increased demand for CRM solutions is witnessed in this sector. Some of the prominent telecom players in the Indian market that have gone in for these solutions are Bharti, BPL, and Orange. Retail sector is also showing strong demand for CRM solutions.There has been slow uptake in the demand for c-commerce solutions in the Indian market. Most of the organizations are still evaluating the efficacy of other e-Business applications such as ERP, SCM, and CRM before going in for these relatively new generation applications. An interesting point to take into consideration is that product development management (PDM) solution and product lifecycle management (PLC) solutions are gaining acceptance in the Indian market. In order to ensure successful implementation of e-Business applications, some of the key issues that needs to be taken into consideration are: The first and foremost pre-requisite is that the enterprise should have a very strong business focus and genuine need for the solution. The consulting partners should have adequate experience in handling projects of a diverse nature. In order to gain end-user confidence, successful stories and case studies needs to be showcased by the vendors. Setting the user expectations right in the first instance Conducting a detailed business and functional requirement analysis Conclusion : The demand for ERP solutions in India is likely to be driven by both the large organizations and SMEs. However, the awareness level and application adoption rate is relatively high amongst the large enterprises as compared to the SMEs. An interesting point to note here is that majority of the top tier companies (organizations with annual revenues in excess of $500 million) in the country have already gone in for ERP implementation. Thus, the real potential lies in the SME segment, which offers tremendous opportunity for the ERP vendors operating in the country. Banking and finance clearly are the better exponents of e-Business applications and have made the best use of enterprise applications in rolling out the e-strategies. Technology has played a key role in this industry, although a large amount of public sector banks in India still are in the early phase of e-Business application adoption, the leaders in this sector are as technology savvy, as in any other industry. Private sector banks are typically using technology and better customer services to match the heavy penetration of public sector banks. As a result, CRM and core banking applications have penetrated private banks more than the public sector banks for -Customer relations-, their -satisfaction- and right way to manage the expectation of your existing and new Customer. I am confident that banks and other financial institutions will meet these challenges head on, continue to find new and better ways to put technology to their and their customers’ best use, and that they will manage the technology and business risks associated with these investments.

Currently the trend to get certification in a management program is on the rise due to the fact it accouters the professional with the knowledge and skills to manage a process, project or technology effectively. More importantly, it helps a professional to climb up the corporate ladder or get a high salaried job. Since there is a score of certification exams, it becomes difficult to decide which certification exam is apt to go for. To help professionals to arrive at a decision on which certification program to opt for, we have listed down a few top management certification programs and given an overview about them.

PMI’s PMP training & certification

The Project Management Institute’s (PMI) Project Management Professional (PMP) certification is one of the management programs which is always on demand, valued and given a high consideration during recruitment. By enrolling for a PMP certification program, a professional learns to manage various phases of a project such as Initiation, Planning, Executing, Controlling, and Closing. It follows the methodology as per management norms like ISO 9000 and is based on the guidelines of Project Management Body of Knowledge, also known as PMBOK Guide, formulated by Project Management Institute (PMI).

APMG-International’s ITIL Certification

APMG-International’s ITIL– Information Technology Infrastructure Library – UK, is a technology management certification program. Its content is structured to impart knowledge to the professionals with which they can identify the missing key technological elements and incorporate them in the existing project to propel a project’s output to the greater heights.

As per a report, professionals having ITIL certification received $122,000, on an average. On the other hand, on an average, Service Manager with ITIL certification got $125,000, in US.

Various ITIL Training and certifications programs are:

1. ITIL Foundation certification
2. ITIL Managing across the Lifecycle (MALC) certification
3. ITSM certification
4. ITIL Intermediate RCV certification
5. ITIL Expert certification
6. ITIL Intermediate CSI certification
7. ITIL Intermediate SS certification
8. ITIL Intermediate SO certification
9. ITIL Intermediate OSA certification
10. ITIL Intermediate SD certification
11. ITIL Intermediate SOA certification
12. ITIL Intermediate PPO certification
13. ITIL Intermediate ST certification

Microsoft Professional 2013

Microsoft Professional 2013 is a product of Microsoft Corporation – USA. It has been designed to render professionals with the knowledge and competence to explore all aspects and processes of a project right from resources to investment cost to deadline to progress track.

Overview: Features of Microsoft Professional 2013

1. Interoperability: Allows different projects to communicate with Project Server database on the Internet or common resource pool.
2. Allows to schedule and manage projects
3. Schedule Project Timeline
4. SharePoint 2013 synchronization
5. Allows to conducts what-if analysis
6. Track resource’s progress and spot problems in the project
7. Project Graphical Reports
8. Allows to track path of different tasks
9. Allows easy sharing

Due to its ability to offer a host of useful features to manage a project, it is one of the commonly used products and hence certified Training in MS Project 2013 will help professionals to stand out from the crowd and stand a better chance to get promoted or land with a lucrative managerial job.

Have you noticed lately when you go to the grocery store that the section for barbecue sauce is expanding? What used to be a market for only a few different brand names of virtually the same basic tomato based sauce is now a wide selection of sauces made by both big corporations like Kraft or Bulls Eye, to smaller companies who are only focused on their specialty sauces. From the Chicago based Sweet Baby Ray’s, to the North Carolina style Scott’s, they are all out there somewhere to be purchased. Some are nationally sold, others regionally, but with the ability to now purchase nearly anything via the Internet, you can even buy local sauces made in the Carolinas, Texas, or Kansas City. Don’t forget Memphis too.

Barbecue sauce has nearly surpassed all condiments in total sales, and increases as new products keep emerging. It seems once one brand adds a specific flavor, like a hot variety of sauce for example, then every other manufacturer follows suit. When a trend takes off within a specific market, it does not take long now in our automated world for the word to get out. Production seems to start instantly on new lines of products in all things, and barbecue sauce and its market is no different.

This up trend in the barbecue sauce industry has opened the door for any new upstarts to fight their way into the market. If you are a master griller who has come up with your own fantastic sauce recipe, it might be the time to begin bottling it and selling it. Another way to get your name out there is to enter some cooking contests with your sauce, and a few good showings or victories at these events will get your name out there as well. So don’t underestimate your culinary skills and don’t be afraid to put your sauce on the map.

More and more in every industry single individuals are making their products known to the world and selling them with success. The barbecue sauce industry is booming in this way, often through restaurant owners bottling and marketing their secret sauce to the public through their establishment as well as to local markets and on the Internet. Local sauces that were once unknown to the world are being presented to a much bigger market now with so many avenues of advertising available today.

Hardware industry is a traditional and new and modern industries. Hardware products widely used in the past, people call it hardware, such as nails, scissors, wrench, tool what is, and we need time to shop can be bought several smoothly, no one how much these things as objects. But Do not look at these small metal products, and now has developed into a world influence of the largest industry.
1, hardware development in various categories
With the development of the times, hardware toward personal wealth is that people can feel. Only a small lock, for example, before the family is just general household locks locks, bicycle locks, but with the motorcycle, automobile industry, high-end residential development, a number of companies to develop modern means of transport suitable for all kinds of motor lock, car lock, anti-theft security lock. Not only lock varieties has increased, and the integration of traditional products showed the trend of high-tech, electronic locks, fingerprint lock, and so one after another; traditional tools hardware, but also changed: garden tool to in-depth extension of a simple pruning twig of the scissors, step by step for the new development of family-and community-building manual, power tools, weeding machine, etc. replaced.
According to statistics, China’s hardware products from the early 80s of last century, 40 kinds of products, less than 500 varieties, surge to the present more than 10,000 varieties, an increase of 20 times; product categories have also been the traditional daily-use hardware from the past, Architectural Hardware, tools, door hardware three categories increased, including shower rooms, gas appliances, range hood, kitchen equipment, cooking utensils and other 10 products.
2, hardware, enterprise economies of scale
The number of enterprises in China hardware from the early 80’s to 50000 more than 2,000. Ultra-billion-scale enterprises from the ring in 1988 when the statistics, Zhang Koizumi, solid edge, the Great Wall Seiko, Wen Deng Wei Li, 14 enterprises, the rapid rise to the present more than 100. Today, the hardware scale enterprises are mostly owned by a modern factory. For example, 10000 and the company’s production workshop, the tall plant to natural light, modern style, both conducive to the production, but also environmentally friendly and completely get rid of the hardware business in the past in people’s minds, “small, poor, chaotic,” the backward image.
In the coastal areas of Zhejiang, Guangdong, Jiangsu, Shanghai, Shandong and other places, has formed a number of characteristics of the economic industrial base, metal industry has become the backbone of local industry or focus on the development industry and hardware industry in the country have played an important role, such as Guangdong Xiaolan Town, Yuhuan County, Zhejiang Province has become China’s leading hardware production and export base; Yangjiang, Guangdong has become China’s largest production base of knives, scissors; Wenzhou, Zhejiang, was awarded the “Chinese locks are” title; Hebei Anping wire mesh industry base built , Asia 80% of the mesh from Anping.
China’s hardware industry to an annual growth rate of 20% of steady development, the annual output value of 4,000 billion yuan, higher than the household appliances industry. Data show that exports of metal products in 2005 amounted to 30.512 billion U.S. dollars, year on year increase of 26.44%. China’s exports of light industry as a whole accounts for about 25% of the country’s total exports, hardware industry, light industry exports ranked the top three.
Three, metal industry, highlights the international competitive edge
In recent years, China’s hardware industry’s international competitiveness has been increasing. Our hardware products, trade specialization index (TSC Index) remained at between 0.78-0.85, and increased year by year, which shows that our hardware products, import and export trade status has been greatly improved, and the whole still in a relatively advantageous position . On the other hand, China’s comparative advantage index of metal manufactures (RCA index) is basically maintained at 0.8 to about 0.9, indicating that China’s hardware products with a moderate international competitiveness. But it should be noted that in recent years, China’s hardware products, RCA index showing a declining trend, mainly because of China’s hardware products are labor-intensive products, due to capital, technology and content is not high, in the international market more susceptible to the developed countries barriers to trade restrictions. Die 100-hui Luo, CEO pointed out that the view from the products and the enterprises themselves, and many hardware companies approach is a form of processing trade, technological innovation capability is not strong, which makes China’s hardware industry has insufficient capacity for competition in the international market gradually lost their advantage , in the future course of development, for the major comparative advantage of labor costs on hardware industry, at the same time weakening the comparative advantage will increasingly need to rely on and enhance their competitive edge to maintain and enhance the international competitiveness of the industry. According to Die 100-hui Luo, CEO survey said that at present China has formed the Pearl River Delta, Yangtze Delta and the Shandong Peninsula three hardware industry zone, Yongkang, Zhejiang appeared, Zhongshan Xiaolan, and Jiangsu Qidong other metal industry cluster.
The development of China’s hardware industry cluster reveals eight major advantages:
One is beneficial to the depth of the division of labor between enterprises and technological innovation. Every enterprise will be fully funding, focus on the most advantageous to do their part, that the enterprise’s core competencies, other related outsourcing to professional company to complete, each product is a summary of a number of core competence.
Second, it helps to save transaction costs. Enterprises are faced with the nearest, a large number of raw materials suppliers and equipment suppliers can lower costs, higher demands, faster speed to purchase a variety of inputs, including raw materials, spare parts, machinery and equipment, the kinds of services and human resources.
Thirdly, it is beneficial to industry and the professional market, pushing each other forward. Industrial cluster is conducive to the formation of the professional market, but also has a greater impact at home and abroad the professional market, both pro-business product sales, but also conducive to the information, and timely adjustment of product structure.
Fourth, it helps to stimulate the sense of competition. The same kinds of products from a large number of production among enterprises will naturally compete, so as to continuously improve product quality and grade.
5 is conducive to Investment. Supporting industries within the industrial cluster system and perfect service system, starting a business with low entry costs and exit costs, not only conducive to attracting foreign direct investment, but also conducive to the cluster of enterprises within the domestic and international capital markets.
6 is conducive to governance “credit deficit disorder.” As the regional industry concentration, among many enterprises to know the root Zhidi, once late payments, forgery, and avoiding the debt and other dishonest acts, it will immediately at the local spread, promises difficult for enterprises to locally based, so the phenomenon of corporate dishonesty between low probability.
7, it helps to promote business innovation. A variety of the latest market, product and technical information gathered, coupled with frequent exchanges between a variety of information within the cluster to promote a greater chance of collision of innovative ideas. LAW 100-hui said the competition within the cluster, as well as personnel exchanges also makes businesses more intense desire to learn, easy to drive innovation in the whole industry.
8 is conducive to the creation of regional brands. Regional industrial advantages and product features are conducive to the formation of regional brand, brand high-impact areas to attract more outlets, suppliers, investors, and various talents. Thus further contributing to the prosperity of the upstream and downstream industries, the development of regional economy as a whole are very favorable.