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CRM vendors in European retail banking - Show me the ROI!Published by: Datamonitor Published: Dec. 4, 2001 - 28 Pages Table of ContentsABOUT DATAMONITOR ACTION POINTS Outline of the brief Four key things you need to know about the CRM in retail banking space Action point 1: Despite increasing focus on ROI and cost control, retail banks need to continue investing in key areas such as CRM to build competitive advantage and to reap the benefits of previous investments. Action point 2: Banks must treat CRM organizational issues as critical to overall CRM success and of at least equal importance to IT systems implementations. Neglect of the business process issues surrounding CRM implementations has impacted efficiency gains achieved post implementation. Action point 3: Through an increasing analytical capability, banks must change their focus away from customer volume to customer value. This will only be possible when banks understand the actual value of each relationship as well as have the means to act on this information and design personalized relationships to maximize benefit to customer and bank. Action point 4: Vendors must create flexible offerings enabling banks to benefit from a rapid ROI without having to buy into further vendor architecture or other applications. JUSTIFICATION Introduction Impact of economic slowdown Planned investments are primarily in the CRM space Forecasts of CRM in retail banks spend to 2004 CRM is a strategic issue Vendor opportunities Vendor segmentation Market segmentation CRM infrastructure opportunities Operational CRM opportunities Analytical CRM opportunities THE FUTURE DECODED Vendor positioning - which vendors will succeed? CRM infrastructure Operational CRM Analytical CRM Vendor success factors Key findings APPENDIX (c) Datamonitor 2001. All Rights Reserved. AbstractCRM is one of the key growth opportunities that exist within the retail banking technology market. Datamonitor forecasts that this overall market will be valued at $32 bn by 2004 and that CRM spending will make up nearly 9% of this market. This brief will explore the impact of the economic downturn on CRM spend in the retail banking sector and banks' investment plans. Furthermore the brief will identify vendor opportunity and position the incumbent vendors in this marketplace giving focus to a selection of vendors' relative strengths relevant in the retail banking market.Get Full Details About This Report >> |
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