Customer Relationship Management Package Paper
Customer Relationship Management Package Paper
Customer relationship management (CRM) is a compilation of processes that a company uses to collate and organize its link with the current and prospective customers. CRM packages (software) aim to assist in this task; these packages can store information about the customers and the interactions with these customers Typically the goals of CRM is to improve the service quality offered to the customer by using the customer specific information available, this can include offering special schemes and targeting customer.
The reason for the success of this business software is that the customers when they interact with the company perceive it to be a single entity but many a times the information about the customer is not shred within the different departments of the company, CRM gives the company the same view that a customer expects the company to have.
A standard CRM package has various departments which share the same database and hence are able to understand the complete profile of the customer. The include Front Office operations (that has direct dealing with the customer through walk-ins, telephonic calls etc.) and back office operations (like billing, maintenance, finance etc.).Customer Relationship Management Package Paper
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CRM tools give a wide range of reports and analysis that can be used by a company to design Marketing campaigns, design business strategies, evaluate the performance of Marketing activities like market share, profitability, revenues etc). A good CRM Software provides information not only to the Marketing team but also enables the sales and the service teams; it also enables better reporting by improving the analytics of the programs. Some Key information provided by CRM software along with the business benefits are provided below:
· Managing marketing resources: The information on market segments, campaigns , trade promotion, leads and marketing analytics on these resources is available easily, hence the planning can be done in more streamlined manner
· Sales Planning and forecasting can be planned better since information and analysis on accounts, geographies ( territories), products etc is available in a timely manner
· Improved Service: Services can be managed more effectively since information on warranty, complaints, returns etc is available. Functionality that supports call center, e-service and filed service also adds to the service quality.
· Partner Management: Channel management can be improved upon by streamlining processes related to communications, forecasting, partner order fulfillment, collaborative selling, and campaign management.Customer Relationship Management Package Paper· Offer management: One stop shop for all customer information helps improve customer relation, offer customer specific schemes. It also provides the ability to cross sell products, up sell and introduce retention schemes for customers.
New age CRM packages also enable Web channels, hence a company can utilize the power of internet for e-commerce, e-marketing and e-service.
Some popular CRM vendors are SAP, Oracle (Seibel), Salesforce.com. SAP CRM has six modules: Marketing resource and Brand Management, Campaign Management, Segmentation and list management, Real-time offer management, Loyalty Management and E-marketing.
Generally, CRM software vendors expect the end user to understand the complete process of Customer relationship management, but that is not always simple to achieve. One of the biggest reason for the failure of a CRM implementation is lack of employees understanding the process of the system, this leads to limited use of the system. One key expectation for any CRM implementation is the training efforts of the employees.
Different kind of CRM systems need different hardware and software but the world is now moving towards SAaS model (Software as a service), for example salesforce.com. When the older versions of CRM sat on a server inside the company the new age CRMs are available through internet thus allowing the company to save on the cost of hardware procurement and maintenance.
Enterprise and Entrepreneurial Management
British mobile catering is growing steadily. Economic recession has decreased the spending capacity of customers; hence, they are shifting towards low-end food service in comparison with high-end restaurants. In 1995, Arkebauer has pointed out that a well-developed business plan provides immense benefits to the entrepreneurs; hence, the report will try to create a systematic dimension for the proposed business plan. Business education played a crucial role on the evolution of the concept business plan (Smaglik, 2004).Customer Relationship Management Package PaperThe proposed business plan in the report will try to synchronise the concept of business education into real world practice. This essay will try to highlight business situation for Sizzle Catering Service (hypothetical catering van taken into consideration). The business is located in Belvedere, London, and it will serve breakfast to local customers. The essay will analyse business plan for Sizzle Catering Service in terms of product and service, market trend, marketing planning, organisational planning, and financial planning. Academic evaluation of the proposed business plan will cover significant portion of the report. Analysing marketing strategy in terms of targeting and segmenting will be an important part of the business plan. In the final part, the essay will analyse future plan for Sizzle Catering Service. In 2002, Hormozi has pointed out that investors get interested by clearly written executive summary, and sometimes investment decision for venture capitalist entirely depends on conciseness of executive summary (Hormozi et al, 2002, pp. 755–763). The report has tried to create a concise executive summary in order to attract investors. In order to assume the expenditure or cost, assumptions in Table 1 has been taken which states the assumed fixed cost and also the operational expenses. Further a projected cash flow is prepared by utilising the assumed cost to reveal the state of cash inflow and out flow of the catering service, so that the operational break even can be shown. It has been seen that Sizzle Catering Service can achieve its breakeven in the fifth month itself. As far as the future goals are concerned, Sizzle can expand its business through converting the business from sole proprietorship to partnership business and buy more van, or it can exit from business by selling off its fixed assets and settling its debts, if any.Customer Relationship Management Package Paper
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