CUSTOMER RELATIONSHIP MANAGEMENT AND ITS IMPACT ON INNOVATION- HDFC BANK

Abstract

CRM, refers to Customer Relationship Management, has it origin in the Contact Management in 1980s. The aim is to establish a management mechanism to improve the relationship between enterprise and customer. As a business strategy, CRM effectively organize the enterprise resource in the department of marketing, sales and support; as the customer-centered management strategy with the information technology, the system intends to redesign the business function, recombine the work flow, and upgrade the satisfaction degree to appeal the customer, in order to gain profit. CRM exists as the management system in early times, but as the mature idea and technology in the management mechanism, it merges and rises in recent years. CRM software which supports this management mechanism became the sunrise industry in the software market and regard as the emerging technology which improve the enterprise management after ERP. The enterprises all over the world undergo a profound conversion because of CRM, which related to the communication and interaction between enterprise and customer or potential customer. Information technology and Internet not only change the management and operating mode but also impact the competitive capability. If ERP help the enterprise to optimize the internal management flow and other resources, CRM make the external resource especially the customer resource to be fully utilized, in order to boost the enterprise development. The origin and development of CRM inspired by three aspects: pull the demand, promote the information technology and renovate the management idea. In the aspect of demand, business flow reorganization (BRP) and ERP achieve the goal of optimizing and automating the flow in the field of production, inventory, finance and current of materials in 1980s. But the field of sales, paying not much attention to the marketing and after-sales service could result in the incomplete recognition of the customer and dealing with them without unified information. On the other hand, it is important for enterprise to keep regular customer and win new ones. This gave birth to the inconsistent behavior between reality and demand