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Abstract:
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CRM is clearly emerging as a top priority initiative for businesses today. Companies are identifying and prioritizing CRM projects on both their tactical and strategic planning horizons. The stakes are enormous—the winners will claim market dominance resulting from the ability to completely satisfy their customers. Customer satisfaction provides bottom-line business results in the form of increased purchased volumes, repetitive purchases, and generation of new business.
Smart companies use Business Intelligence (BI) to get clearer picture of their customers. They also derive significant ROI by using BI to devise better tactics and plans, respond more effectively, and capitalize more quickly on new opportunities. In short, they are using BI to become intelligent about the way they do business.
However, not all CRM-BI solutions succeed. Even before a project begins, there are telltale signs indicating whether it will succeed, struggle, or fail. It is important that organizations understand the key indicators of success so they can surmount the challenges associated with every project. This study explores the root of high failure rate of CRM and BI implementation. Based on the relevant literature and interviews with the experts, this paper compiles the critical success factors of CRM and BI solutions. The proposed framework is tested by analyzing two cases, which describe the steps taken at strategic and operational level while implementing CRM and BI solutions and their positive impact on the overall efficiency of the organizations.
These success factors could lead to a success, but do not guarantee it. In the end, each organization needs to devise a plan and execute it. Ultimately, companies succeed by making sure the business—not the technical team—drives the change and is accountable for its success. |
