Significance of BPM is particularly important for banks

Process management is driven by strategy. The study shows that just fewer than 60 percent of respondents believe that the importance of Business Process Management will continue to increase over the next few years, especially in the mechanical engineering, logistics, banking, energy, chemicals, pharmaceutical and public sectors. Intelligent process management significantly enhances visibility into business processes allowing the organization to adapt faster and better to new challenges, a key skill in an increasingly digital economy.

At 45 percent, process management is part of the corporate strategy but only a third of respondents have a dedicated process management strategy. The support of the top management is the most important success factor for an effective process management. CPOs provides the necessary coordination between the operational level and top management. Only when the company management knows and controls the internal processes can organizations make the best use of the opportunities of digitization.

The discovery of the customer

CRM is understood as a concept for designing relationships between a company and its customers segments which is understood as a holistic approach of customer-oriented business management. From a business perspective the goal is to build a long-term and profitable customer relationship. Although this is the basic philosophy of the marketing idea that was only through the development of modern information technology that it was even possible to implement it efficiently and comprehensively. CRM is thus a combination of corporate strategy and information technology. Bpmonline.com//financial-services offers you the best quality CRM for the business.

Competitive pressure promotes CRM innovations

Companies in all industries are forced to systematize and professionalize customer contacts through CRM. In addition, the buying behavior of customers has changed dramatically in recent years. Customers change their provider more often and have become more demanding at the same time. The acquisition of new customers with traditional marketing campaigns is thus becoming more complex and expensive. Banks also feel that the fight for the customer has become tougher and the willingness of customers to change banks has increased. Compared to other service segments, banks, at least in the residential segment, still have relatively loyal customers.

Conclusion: CRM activities

So it is not surprising that the importance of CRM in the banking environment has increased significantly in the last 12 months but that this is especially true in the field of sales. The sales managers are the first to notice when sales collapse and customers move away. They are therefore currently driving the topic of CRM most clearly in the banks. In the area of ​​marketing, the topic of customer relationship management plays only a minor or no role in half of the top 100 banks. Often, the marketing there is more of a better assistant to sales with less influence in their own company.

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