Case Study: Siebel CRM By Cubastion For General Insurance Company

the execution of CRM strategy. To perform well, it is required for any company to properly acquire, enhance, store, distribute and use customer-related data. In the current condition of RBC, it is mentioned that they already started the initial CRM strategy. Unfortunately, the system was not sufficient to deliver RBC s customers expectation. It was recognized that some previous assumption done by the system were faulty. Therefore they need to do consider further analysis; they will be maximizing value within the system itself. Development of the CRM strategy starts with a situation analysis as follows:  Customer/ Segments  Market Offering : Top three segments some of the more significant pay-offs : Ability to deliver financial statements on assets, liabilities, equity, income & expenses, contingencies, inter-company transfers  Channel  CRM Vision : Direct, by using integrated system with RBC IT infrastructure : To provide behavioral-based solution focused on the customer and account

The most effective Customer Relationship Management (CRM) systems are deliberately designed to align and enhance the strategic initiatives and programs of a given business or enterprise. They must take into account customer preferences, needs and wants as well, and strive to create a foundation of shared information and insight over time There are a myriad of studies that show how effective CRM systems are in transforming businesses and making them more customer-centric, profitable and responsive to rapidly changing market requirements. The level of adoption and continued use of CRM systems also assures a company's culture stays agile enough to respond to changing market conditions while also keeping the level of expertise and knowledge about customers continually growing (Chen, Chiu, 2010). Having a single system of record pertaining to all customer interactions give companies a competitive advantage in that they have greater insight into how prospects make buying decisions (Wang, Feng, 2012). When implementing a CRM system there are five critical success factors that are essential to its success and these include cost, risk, scope, time, and quality. The most effective CRM implementations that deliver the greatest value balance all five of these factors and synchronize them together to create strategies that deliver consistently profitable results. These five critical success factors are essential

✓ Costly – CRM software is highly priced, and hidden costs involved, for example, training session.

Customer Relationship Management (CRM) has become a main focus for businesses with today’s markets becoming more saturated and competitive.

SkyTech Inc. - Lead Project Manager of 5-person team on critical CRM implementation for a regional multi-million dollar General Aviation sales firm spanning multiple geographical locations. Implementation was the first time company upgraded from a home grown CRM to an Off-the-shelf solution. Overcame Senior Executive leadership’s reluctance to migrate IP to new platform. Worked closely with Marketing Director to ensure successful integration to include: training, communicating change to employees, database management/customer records, and compliance among other tasks.

Auto retailers were considered to be "doomed" by the Internet as a result of increasing competition from online car-selling services. The most important and challenging for auto dealers is that while still demanding traditional car-buying experiences, customers want to modify their options in various situations (Collins 2002). Under this pressure, CRM solutions have long been identified as a crucial practice since it can provide better-targeted communication, increase professionalism and speed of implementation as well as ensure cost effective (Capgemini 2008, p. 6). On the other hand, Siebel System Inc., a CRM software provider, estimates automotive potential at $1.4 billion in 2015 (Automotive News, 2015).

Regards of advantages there are many disadvantages associated with CRM practice. CRM is difficult to manage in terms of technology, people, initial money investment, safety of information that companies need to keep about their customers, sharing information with third party, and its overall maintaining or protection. CRM success is based upon the organizations ability to detect and respond to current customer’s needs and their preferences. The CRM software (Mark Rittman, 2008)process success requires management team of the organization to provide continuous asses and prioritizes customer relationship based on their lifetime profitability. The organization need to be customer-centric and should be carefully driven by understanding the changing need of the

Chip Reeves knows all about the life of a sales guy. That’s because during his nearly 20 years at Dow Corning, a global manufacturer of silicon-based products, he was one. He knows all too well that salespeople ignore any new administrative process or technology unless it allows them to make more sales or use their time more efficiently. Now, as Dow Corning’s director of marketing and sales processes, Reeves is leading the company’s convergence of its CRM and e-business efforts, as well as streamlining its compliance and reporting functions. The goal, naturally, is to provide excellent customer service—and to make it easy for Dow Corning sales and marketing staff to use the expansive CRM system. Real easy . Reeves also served as the

Losing track of customers and their needs, including a lack of insight into how they can best be communicated with is the most costly mistake a company can make. The loss of relevancy within a customer base immediately opens it up to competitors, drastically increasing the costs to get them back and re-establish value of products and services (Allen, Carletti, Leonello, 2011). Lack of customers will also lead to lack of insight into demand curves of products and the inability to forecast them accurately (Docters, Durman, Korman, Schefers, 2008). Integrating Customer Relationship Management (CRM) systems into the daily activity of a company is essential to alleviate this problem (Bielski, 2003). Failing to integrate CRM systems into the overall workflow of the company will lead to losing even more customers and lost revenue, and this is especially true for foreign subsidiaries of global companies (Davids, 1999).

Finally, Frederick Reichheld’s research indicates the reliance on automated CRM programs is based on “A single flawed assumption: that CRM is software that manages customer relationships for you. It isn’t. Managing customer relationships is bundling

A CRM program contains complicated business and technology issues. Though, they require significant investments of time and money. Adapting a CRM tool does not make any change in small business’s performance. A company has to understand their goal. They has to clear about till what extinct they are related to the customer. If the target is not truly strategic than CRM system fails to the business.

To counter fragmentation, leading-edge companies strive to take a more customer centred approach to CRM. There is a growing trend towards managing all the activities that ientify, attract, and retain customers in an integrated fashion, that is, managing them as a process that cuts across functional departments. By addressing these activities as a set of CRM processes, organizations can create end-to-end communications and performance accountability for entire sets of activities. In short, a CRM

One thing that all successful businesses have in common is a satisfied customer base. Some companies have the luxury of routinely working with the same set of customers in a fairly personal manner. These companies tend to be in the small business category, which affords them certain advantages relative to customer service that medium and large sized businesses simply cannot compete with. For many businesses they are turning to a technology solution to solve the problems they run into in the area of customer service. Customer Relationship Management (CRM) Systems were created in order to help businesses avoid common pitfalls that can ruin a businesses relationship with its valued customers. Many of these pitfalls involve poor communication; Customer Relationship Management Systems will aide users in many ways relative to improving customer communications. Over the course of this paper I will provide a brief overview of CRM systems that will include a historical analysis. Next, the importance of communication, specifically personal communications, will be explored. After reviewing the importance of communications I will talk about the importance of having informed employees and the future of CRM.

Salesforce CRM software improves the gathering of important information about customers, which pays big dividends by improving customer satisfaction. Understanding customers and their buying profiles generates greater success in converting them, generating leads and

Customer relationship system or we called it CRM, which is the one of the information system that has been used by Prudential Assurance Malaysia Berhad. Customer relationship management is a type of software application. Employees can manage customer information by using CRM. The relationship between company and their customers can be grown in long-term and stable. This system’ primary concept is to keep the business operational through finding and maintaining clients. All departments in the same building can keep track of other department processes such as customer service. Technology is required for customer relationship system to organize and analyze business processes.