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By Federico Rajola

An built-in view of IT and company procedures via prolonged IT governance permits monetary associations to innovate operations which enhance company and organizational functionality. despite the fact that, monetary associations nonetheless face demanding situations with CRM structures in providing anticipated effects as a result of loss of entire enterprise integration. elevated trade of information among shoppers and the volume of such facts on hand is progressively turning into a problem for firms, specifically in extending inner platforms to worldwide details structures with the aim to assemble and replace info on an international scale.

In this publication, Prof. Rajola analyses various elements of CRM structures taking either an organizational and a technological viewpoint. He adopts a theoretical framework to unpack matters linked to the necessity for corporations to combine operations and company approaches. The emphasis is then interested in improvement of powerful CRM (and CRM 2.0) projects through utilising illustrative case experiences of profitable CRM platforms implementation within the monetary undefined. The framework followed during this publication can be utilized by means of either students and executives to judge the interdependencies among operations, company strategies, and CRM systems.


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Extra info for Customer Relationship Management in the Financial Industry: Organizational Processes and Technology Innovation

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Within banks, the organizational culture and a culture of technology may be in contention. Building competitive advantage using technology effectively requires the pure technologist to be secondary to the businessman who is also responsible for the technology and for production efficiency. 3. Adopting a technology without changing business processes can reduce the economic value of IT effectiveness. It is necessary to have a culture of innovation for effective use of technology promoted by CIOs and IT Managers.

A). USA: Jay Press. Holmqvist, M. (2004). Experiential learning processes of exploitation and exploration within and between organizations: An empirical study of product development. Organization Science, 15(1). , & Boer, H. (2006). A continuous innovation framework: some thoughts for consideration. Proceedings of the 7th international CINet conference—CI and sustainability: Designing the road ahead (pp. 389–400). The Netherlands: Continuous Innovation Network. , & Ahuja, G. (2002). Something old, something new: A longitudinal study of search behaviour and new product introduction.

2. Listening: The emphasis is on customer loyalty; therefore it is imperative to find out key values and needs for each customer class. 3. Growth: Through communication and value production in the most suitable way for each customer class, the company is able to develop a relationship with its customers. 4. Results evaluation. Again, to face these stages properly, the company has to review and integrate its infrastructures and business processes, paying particular attention to two crucial factors: communication and knowledge sharing.

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