Challenges and Proposed Solution Towards the Legacy Customer Relationship Management System (CRM) In Pakistan Bank
Abstract
Customer relationship management (CRM) is a widely adopted concept in various organizations to acquire,
retain and retain customers. In the banking sector, CRM plays an important role as it serves as the foundation of banking
operations. However, in today's dynamic environment, CRM has evolved beyond sales and marketing, covering a wide
range of activities aimed at providing exceptional customer focus and value. This research focuses bank`s legacy of CRM
system to integrate it with other banking systems that helps to improve day-to-day operational activities, complying with
new policies set by the regulatory authority can be ensured and meet the growing business needs. Which includes
Estimated Cost Breakdown, Project Delivered Form, Project Assumption, Project Key Stakeholders Matrix, Project
Planning, System (WBS) Work Breakdown Structure, Project Configuration Activities and Project Resources.
References
Technology. 2014, Springer. p. 237-242.
[2] Nazir, M. A. and Roomi, M. A. (2021) ‘Barriers to Adopting Electronic Commerce for Small and Medium-sized Enterprises in
Emerging Economies’, EMAJ: Emerging Markets Journal, 10(2), pp. 43–55. doi: 10.5195/emaj.2020.203.
[3] IBM. Cloud computing for banking - Driving business model transformation. 2010; Available
from:https://www.researchgate.net/profile/Santosh_Dash5/post/What_are_the_benefits_of_cloud_computing_for_South_African_banks/attachment/59d6330b79197b8077990be2/AS%3A372875560275972%401465911869584/download/Cloud_Computing_for_Banking.pdf.
[4] Karakostas, B., Kardarasb, D. and Papathanassiou, E. (2004) The state of CRM adoption by the financial services in the UK: an
empirical investigation, Information and Management, 42(6), pp.853–63.
[5] Abbott, J., Stone, M. and Buttle, F. (2001) Integrating customer data into customer relationshipmanagement strategy: an empirical
study,Journal of Database Marketing, 8(4), pp.289–300.
[6] Avlonitis, G.J. and Panagopoulos, N.G. (2005) Antecedents and consequences of CRM technologyacceptance in the sales
force,Industrial Marketing Management, 34(4), pp.355–68.
[7] Bhaskar, R. (2004) A customer relationship management system to target customers at Cisco,Journal ofElectronic Commerce in
Organisations, 2(4), pp.63–73.
[8] Chen, I.J. and Popovich, K. (2003) Understanding customer relationship management (CRM): people,process and
technology,Business Process Management Journal, 9(5), pp.672–88.
[9] Hart, S., Hogg, G. and Banerjee, M. (2004) Does the level of experience have an effect on CRM programs?Exploratory research
findings,Industrial Marketing Management, 33, 549–60.
[10] Lenskold, J.D. (2004) Customer-centric marketing ROI,Marketing Management, 13(1), pp.26–31.