CRM system benefits : A case study of banking sector

Abstract: Seminar Date: 05-11-2011 Level: Master Thesis in Information Technology Management,   15ECTS Institution: School of Sustainable Development of Society and Technology, Malardalen University Authors: Adnan Murrawat Khan [amt1001]         Foroozan Nasershariati [fni10002]                                              Title: CRM system benefits, a case study of banking sector Supervisor: Dr Ole Liljefors Problem statement: Customer relationship management (CRM) systems have been adopted to have better relationships with customers by having detailed knowledge of their requirements through using different information technologies. Implementing CRM systems correctly can provide many of benefits both for the customers and to the business as well. Banks   have large numbers of customers and to fulfill their customer requirements most      banks have adopted CRM systems. This thesis tries to identify how CRM systems are helpful in the banking sector to get the benefits. Research Question: What are the benefits of implementing customer relationship management systems?  Method: Research process used in this thesis is related to the realist approach   . The study is structured by dividing the problem into different parts and then the relationship between them is analyzed. Both primary and secondary data collection have been used .The main method adopted to collect empirical data is open ended questionnaires. Secondary data have been collected by using the availability of Malardalen University online databases. Conclusion: Results showed that CRM system can provide a large benefit for a particular organization not only in attracting more and more customers but also in expanding business in related areas by successfully implementing CRM. To reap the benefits more care is required at the implementation stage and also by the realization of the fact that not all the benefits can be achieved at once. Keywords: CRM system, CRM successful implementation, CRM benefits, CRM customer benefits, CRM business benefits.