StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

Implementing a New CRM System - Admission/Application Essay Example

Cite this document
Summary
The author of the paper "Implementing a New CRM System" argues in a well-organized manner that there are several technological components to Customer Relationship Management (CRM); however, thinking about CRM in primarily technological terms is a misplaced idea. …
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER95.5% of users find it useful
Implementing a New CRM System
Read Text Preview

Extract of sample "Implementing a New CRM System"

Application of CRM Solution Good relationship is key to success of any business organization. Therefore, different business organizations employ various strategists to learn and understand their customers’ needs and behaviors, with a goal to develop stronger relationships with customers. One such strategy is Customer Relationship Management (CRM). There are several technological components to CRM; however, thinking about CRM in primarily technological terms is a misplaced idea. It is important to view the application of CRM as strategic process that would help to better the understanding of customers’ needs and how such needs could be met. As such, CRM involves bringing together lots of pieces of information about customers and market trends to enable the business organizations sell and market their products and services more effectively. The idea of CRM is that it helps businesses use technology and human resources to gain understanding about the behavior of customers and the value of those customers. Effective CRM strategy can lead to increase in revenues by: offering better customer service, helping sales staff close deals faster, cross selling products more effectively, retailing existing customers and discovering new ones, and providing services and products, which suit customers’ needs and expectations (Wailgum & Thomas, 2013). The success of any business depends on proper conceptualization of project management. Project management refers to the application of skills, knowledge, tools, and techniques to achieve specific goals within specified time and budget constraints. It involves various activities such as planning the work, estimating resources required to accomplish the work, organizing the work, acquiring human and material resources, assigning tasks, directing activities, controlling project execution, reporting progress, assessing risk, and analyzing the results. Similar to any other areas of business, project management for IT must also consider the five major variables: time, scope, risk, quality, and risk. (Wailgum & Thomas, 2013). Therefore, application of CRM should consider such variables because they affect the results in terms of quality and quantity of production and services delivered. The quality and effectiveness of CRM is influenced by both time and cost, and the preference for its application hinges on the scope of the projects/business, quality, and the risk associated with its application. This implies that different businesses may apply different types of CRM packages. Small business firms may employ hosted CRM solution for a specific department, which is quick and relatively cheaper. However, larger firms may opt to use an on-premise CRM package to achieve sophisticated functionality and greater level of support. This may take relatively longer time and high cost. For example, one company or department might purchase sales-force automation application or an email marketing management application, where as a larger organization might require purchasing of an integrated package that includes database and applications for marketing, sales, and customer service and support. Selecting projects that deliver the best business value should be a priority to any business firm. The underlying principle is that despite the ramification of systems project ideas, their implementation is constrained by limited resources. The focus should therefore be on economic feasibility of each of the alternative strategy applied. Therefore, a number of considerations should be made before settling for a particular choice. The key factors that should be considered are costs and benefits of the projects. Benefits that may accrue from a particular project can either be tangible (can be quantified and assigned monetary value) or intangible (cannot be quantified, and thus cannot be assigned monetary value). Intangible benefits such as efficient customer service or enhanced decision-making cannot be immediately quantified; but still, systems that produce mainly intangible benefits may be good investments, especially if they could produce quantifiable gains in the long run (Wailgum & Thomas, 2013). There are two major different methods of determining the benefits of a particular solution: Sum Total Comparative Analysis and Capital Budgeting. STCA involves comparing the total costs and total benefits of a solution/project, while Capital budgeting methods, such as internal rate of return (IRR) and net present value, would typically be applied to evaluate economic viability of the proposed information system solution as an investment. No project is pristine of risks; therefore, the success of projects depends on the shrewdness risk skills and management by business firms. Project structure, project size, and the level of technical expertise of the information systems staff and project team influence the level of project risk. The level of risk tends to increase with the size of the project (indicated by cost, project team size, and extent of application of the new system). Large-scale systems projects present higher failure rates (between 50 and 70 percent higher). Such projects are highly complex and difficult to control. In addition, risks are also higher for systems where information requirements are not clear or the team must comprehend the new technology (Wailgum & Thomas, 2013). The presence of risks factors should not be a deterrent to application of a particular system solution. There are various strategies that can be used to ameliorate the risk factors to increase the chances of a successful system solution. However, the appropriate strategies depend on the level of technology being applied. For instance, if the new system entails challenging and complex technology, a firm can recruit project leaders with strong technical and administrative experiences, outsource or use external consultants. Appropriate use of formal planning and tools for documenting and monitoring project plans is a way of overcoming risks and realizing benefits from large projects. There are two major methods for documenting project plans, which include PERT charts and Gantt charts. A Gantt chart lists project activities and their corresponding start and closure dates. It visually represents the timing and duration of different tasks in a development project and human resource requirements. It does this by showing each task as a horizontal bar whose length is proportional to the time required to accomplish it (Wailgum & Thomas, 2013). Application of PERT charts fills the gap left by Gantt charts, that is, inability to depict dependencies (how one task is affected if another is behind schedule or how task should be ordered). PERT stands for Program Evaluation and Review Technique. It was developed by U.S. Navy during the 1950s to manage the Polaris submarine missile program. The chart graphically indicates project tasks and their interrelationships. It does so by listing the specific activities that make up a project and those that must be completed before a specific activity can begin (Laudon & Kenneth, 2013). Finally, there are commercial software tools like Project Management Software that helps in automating and creating of Gantt and PERT charts and facilitation of the project management process. PMS have features that make it possible to define and order tasks, assign resources to tasks, establish starting and ending dates for tasks, track process, and facilitate modifications to tasks and resources. The most commonly used project management tool today is Microsoft Office Project (Laudon & Kenneth, 2013). Work Cited Laudon , C. Kenneth and P. Jane Laudon. "Building Information Systems and Managing Projects." Essentials of Management Information Systems, Tenth Edition. Upper Saddle River, New Jersey, USA: Prentice Hall, 2013. 367-403. Wailgum, Thomas . CRM Definition and Solutions. 2013. http://www.cio.com/article/40295/CRM_Definition_and_Solutions?page=2#5. 7 December 2013. Sinay, Damian. Microsoft Dynamics CRM 2011 Reporting. Birmingham: Packt Publishing, 2013. Print. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Project Management Planning - Implementing a new CRM System Admission/Application Essay”, n.d.)
Project Management Planning - Implementing a new CRM System Admission/Application Essay. Retrieved from https://studentshare.org/information-technology/1497153-project-management-planning-implementing-a-new-crm
(Project Management Planning - Implementing a New CRM System Admission/Application Essay)
Project Management Planning - Implementing a New CRM System Admission/Application Essay. https://studentshare.org/information-technology/1497153-project-management-planning-implementing-a-new-crm.
“Project Management Planning - Implementing a New CRM System Admission/Application Essay”, n.d. https://studentshare.org/information-technology/1497153-project-management-planning-implementing-a-new-crm.
  • Cited: 0 times

CHECK THESE SAMPLES OF Implementing a New CRM System

CLUB IT Business Issues

The crm system will make a customer a useful entity for the organization.... Moreover, there is no interaction of customers with the ‘Club IT' system.... Implementing E-commerce Systems For making the 3 p relating to (peoples, employees and culture) Customer relationship management system is required.... Supply Chain Management system Supply chain management systems are implemented globally for utilizing their supply chain activities in a productive approach for competitive advantages (Kanji & Wong, 1999)....
3 Pages (750 words) Essay

Application of CRM in the life insurance Company in China and in a company of Ping An Life Insurance of China

The goal of the company in applying crm is to enhance the customer relationship into greater profitability by increasing repeat purchases rates and reducing customer acquisition costs that may lead to losses for the company.... crm provides the company with the advantage of internal and external information flow thus enhancing the customer satisfaction with the company.... Strategies of crm used in Life Insurance Company This company is applying the new customer relationship approach, which combines advanced technology and sophisticated billing analytical identities, which secures payment before the customer reaches the collection gate....
8 Pages (2000 words) Dissertation

Implementation of Cloud CRM in Warnaco Company

his threat can be overcome by implementing a private cloud rather than a public(Rittinghouse & Ransome, 2010).... Large enterprise systems have been using CRM for a long before but now technology improved a lot and this system applies to almost all companies(Chen & Popovich, 2003).... The Cloud system is provided with state of an art user-friendly setup with ease of usage as well as provides an extensive production system.... Compact system Cloud CRM, unlike traditional costly and complex CRM systems, is much more convenient to be used....
5 Pages (1250 words) Essay

Federal express (slp module 02)

“Project management is a carefully planned and organized effort to accomplish a specific (and usually) one-time effort, for example, construct a building or implement a new computer system.... deral Express, every department in the company is affected by the system's ability to quickly disseminate critical information that can influence the day-to-day operations of areas such as marketing, finance, accounting, human resources, and more (Netscape Solutions Federal Express SLP Module 02 How Project Management Influences Other Departments and Functions of This Organization (i....
2 Pages (500 words) Essay

CRM Model Application And Relevance In Medical Practice

This work "crm Model Application And Relevance In Medical Practice" describes the human factors in high-stress and high-risk environments.... From this work, it is clear that modern healthcare organizations have no choice but to apply crm models.... Results from the aviation industry have shown that higher levels of safety have been attained since the introduction of crm.... Consequently, the medical industry has not been left behind in implementing crm especially in Intensive Care Unit (ICU) and High Dependency Unit (HDU) operations, Shortell SM....
8 Pages (2000 words) Coursework

Ecommerce and Best Practices in CRM

Kim Land, who is director of Godiva Direct says, 'in the beginning, this system was launched to make money.... The author of the "Ecommerce and Best Practices in crm" paper present a detailed analysis of e-commerce activities especially customer relationship management (crm).... As a result, crm technology provides a lot of web-based business advantages like lower costs, increased revenues, elevated ROIs, and better competitive advantage....
9 Pages (2250 words) Essay

Impact of implementing CRM systems in establishing customer loyalty

Customer Relationship Management is a new innovation in customer service today.... It is a vast system of information on a database of customers and their buying habits, e-mail address, residential address, personal information such as birthday and so on.... The research demonstrates benefits, problems and issues the organizations experience once they implement crm systems in establishing customer loyalty.... The study presents how effective crm systems are on establishing customer loyalty for an organization....
6 Pages (1500 words) Research Proposal

Customer Relationship Management (CRM) Systems

nother type of crm system is the analytical CRM.... The main intent is to enable users work interactively with a business to improve service provision (Dyche 2001)OpenData by Socrata is a sample crm system that is online.... In the available classification, OpenData CRM falls under the operational crm system category.... Customer relationship management system is a strategy that has been extensively implemented to manage a company's interactions with its clients, customers and sales prospects (Brown 2000)....
1 Pages (250 words) Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us