Customer Relationship Management Systems (crm)
CRM systems are technology enabled management tools which help manage an
organization’s relationship with its customers. CRM systems help gather/store customer data, analyze this data to enable customised marketing, and are often used
to semi-automate customer services. The main purpose of CRM is often stated as
‘enriching relationships’ with customers to gain greater loyalty, but at times they
are used to cut the costs of customer services processes. In an e-banking context,
CRM software can help move customers from expensive branch or phone-based
services to self-help services over the internet.