CRM information technology

CRM information technology

Submitted to
Md. Razib Alam, Assistant Professor Department of Marketing Faculty of Business studies University of Dhaka

Submitted by
Md. Ehsanul Hoque MBA (Evening) Batch: 18th, ID: 41018044 Department of Marketing Faculty of Business studies University of Dhaka

Date of submission: April 12, 2012

Letter of transmittal
April 11, 2012 Md. Razib Alam Assistant Professor Department of Marketing Faculty of Business studies University of Dhaka, Bangladesh Sub: Request for acceptance of the term-paper Sir, It is a great pleasure for me to submit the report on CRM information technology. You assigned me to prepare this report as a part of Customer relationship management course (MKT531) requirement. While preparing this report I have tried to follow your instruction given in the class. In this report I have tried as descriptive as possible for the convenience of the reader. I appreciate you will asses my report considering the limitations of the study. Your kind advice will encourage me to do further study in future.

Sincerely yours,

Md. Ehsanul Hoque MBA (Evening) Batch no: 18 ID: 41018044 Department of Marketing University of Dhaka

Acknowledgement
First and foremost, it is the obligation to express our profound and sincere gratitude to my respectable teacher and supervisor Md. Razib Alam, Assistant Professor (Department of marketing of Marketing, University of Dhaka), for his invaluable and critical review and suggestions from the beginning to the end of this assignment. Without his encouragement and stimulating guidance, this paper would not have materialized.

Executive summary
According to Wilson (2002) CRM is a concept that enables an organization to tailor specific products or services to each individual customer according to his or her need. Using

information technology in CRM can help your business enhance the way it interacts with and services customers through multiple channels and divisions. The stunning advances in information technology have been a major force in advancing customer relationship management into the forefront of corporate strategic thinking during the late 1990s.CRM software market comes from two directions: the front office and the back office. Before applying CRM software a manager has to read about sales automation, been mailed by the vendors and heard some of his colleagues, or perhaps competitors, discussing its merits. CRM software will usually consist of 11 components. Such as sales, sales management, telesales, time management, customer service and support, marketing, executive information, ERO integration, data synchronization, E-commerce and field service support. It is important to understand the benefit of CRM for most companies. These generally fall into three categories: cost savings, revenue enhancement, and strategic impact. To take the advantage of the benefits of a CRM system, a company must undertake a structured process that ensures the automation venture does not become the automation adventure. In this report I have discuss about ten CRM related software and some of their features. These are Sales Force, Oncontact, Sage ACT, AIMcrm, Prophet, FieldOne, Microsoft Dynamics CRM, Chaos Intellect, SAP CRM and InTouch CRM. A CRM solution used by a trained staff with the company's goals in mind will promote shorter sales cycles, reduce administrative costs, improve reporting, increase sales closing rates and improve customer retention. Finding the right CRM software that matches companies' strategies and objectives allows management to develop a plan for increasing sales and profits for the long term.