| Architecture for Customer Relationship Management Approaches in Financial Services (2005) | |||||||||||||
Abstract | |||||||||||||
| The majority of financial services companies in Germany and Switzerland have, with varying success, conducted customer relationship management (CRM) implementation projects. Nonetheless, the implementation of a specific CRM strategy that is aligned with company profitability and uses integrated information systems for performance measurement as well as for the control of marketing, sales, and service processes has been realized in very few companies.In this paper we present a framework for the analysis of CRM approaches in financial services companies. Building on previous research and using comprehensive literature research, we develop a CRM reference architecture that focuses on the process and system level for the description and classification of CRM approaches in companies. Moreover, we analyze three CRM case studies in Swiss and German financial services companies and derive three types of CRM approaches in the financial services industry: Customer Satisfaction Management, Customer Contact Management, and Customer Profitability Management. We describe each type in accordance with the CRM architecture and a case example. The CRM architecture and CRM types can be used as a structural framework in the analysis of CRM in enterprises to compare the context and objectives with those of other enterprises, and to derive new strategies and objectives. | |||||||||||||
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