外文翻译金融服务机构的客户关系管理.doc

外文翻译-金融服务机构的客户关系管理 毕业论文设计外文翻译外文原文Customer Relationship Management CRM in Financial ServicesJOE PEPPARD Cranfield University School of Management UKToday many financial services organisations are rushing to become more customer focused A key component of many initiatives is the implementation of Customer Relationship Management CRM software Our research has highlighted that most institutions take a rather narrow view of CRM and as such benefits have been limited While second generation CRM has emerged to embrace the total organisation hence Enterprise CRM success in general has still not been widespread In the paper a framework is presented which is based on incorporating ebusiness activities channel managementrelationship management and backofficefront-office integration within a customer centric strategy 2000 Elsevier Science Ltd All rights reservedOnce upon a time retailers banks insurance companies and car dealers had a close relationship with their customers They often knew them individually understood what they wanted and satisfied their needs through personal customised service As a result they earned loyalty and a large share of their customers business This however was a costly and inefficient system and customers effectively subsidised this relationship by paying higher prices Over the years through mass marketing and increased consumerism customers traded relationships for anonymity reduced variety and lower pricesToday through the effective use of information and communications technology such a tradeoff is now not necessary organisations can offer their customers variety lower prices and personalised service and all at the same time An airline gate attendant whom you have never set eyes on knows you are a valuable customer and upgrades your seat to first class in preference to a once-a-year holiday traveler Your garage reminds you that your car is due for service A car hire company takes your reservation on a dedicated line then presents you with a waiting rental car complete with your name in lights when you arrive at your destination Your bank informs you that you have excess funds in a non-interest bearing accountThese companies are practicing elements of an approach to marketing that uses continuously refined information about current and potential customers to anticipate and respond to their needs This is the practice of Customer Relationship Management CRM 1 Many businesses today realise the importance of CRM and its potential to help them achieve and sustain a competitive edge These organisations are already changing their business processes and building technology solutions that enable them to acquire new customers retain existing ones and imise their lifetime valueAlthough CRM is a recent concept its tenets have been around for some time Marketeers have always promoted close relationships with customers2 Customer profitability has been touted as significant for many years but has been difficult to determine as many institutions are organised along product or channel lines as opposed to customer Similarly the concept of mass customisation has been in the literature for nearly a decade Pine 1993 However all have remained essentially theoretical concepts aspirations rather than a practical or commercial reality Today due to advances in information and communications technology the promise of one-to-one relationships customer-value analysis and mass customisation are now possible Yet despite the role of technology these manifestations are less of a technological phenomenon than a profound change in the economics of information see Box 1 Evans and Wurster 1997 1999 Rayport and Sviokla 1995 A new business ecosystem is emergingBOX 1 THE NEW ECONOMICS OF INFORMATIONThe new marketplace is characterised by a change in the economics of information The traditional economics of information can be represented by a tradeoff between the richness of information and reach of message Evans and Wurster 1997 1999 Reach is about access and connection it means how many customers a business can connect with and how many products it can offer to those customers Richness is the depth and detail of information that can be given to customers as well as the depth and detail of the information collected about customers The conventional economics of information dictates that information rich in dialogue customisation and interactivity can only reach a limited audience For example the traditional sales pitch to a client usually includes a presentation perhaps incorporating video and other client testimonies questions can be posed and answered in an interactive sessionToday sophisticated technologies like the Internet Digital TV and wireless telecommunications mean that this tradeoff illustrated by the curve in the above diagram is now not necessary A rich message can potentially be conveyed to a wide base of customers These newer technologies define an environment that is fundamentally different from older technologies in a number of ways And it is in this new environment orecosystem where the old rules of business no longer holdThe technologies available today are different in three respects to those of the past They permit an increased connectivity capability distinctions between different technology types are blurring and technology is now interactiveConnectivity Today it is relatively easy and cheap to connect to global networks resulting in the PC and mobile phone emerging as ubiquitous devices One of the consistent lessons of technological innovation is that the emergence of standards stimulates both uptake and investment and this has characterised technological developments during the 1990s It is now accepted that the value of the network increases with an increase in numbers often referred to as the phenomenon of network externalitiesimagine being the first person with a fax machine or a mobile phone The value of a networked good such as a telephone or PC increased as to the square of the number of other people in the network For example a network with a node of one has a value of nila network with two nodes has a value of onea network of three nodes has a value of threea network of 7 nodes has a value of 21 etcConvergence Digital technologies themselves are converging The emerging Wireless Application Protocol WAP technology for example permits Internet access using the wireless cellular network blurring further distinctions between fixed and mobile technologiesInteractivity New technology provides for true interactivity This interactive element is of crucial importance since much business activity consists of interactions human and technical communication data gathering collaborative problem-solving negotiation Indeed a recent McKinsey report suggested that 51 per cent of US and 46 per cent of German labour costs are accounted for by interactive events Butler et al 1997 Interactivity today allows the customer to shape the product or service and the supplier to learn from the customerThe effective management of information has a crucial role to play in CRM Information is critical for product tailoring for service innovation eg tailored websites for providing a single and consolidated view of the customer for calculating customer lifetime value for establishing an integrated multi-channel capability Yet it is not just about having better customer information and perhaps then being able to offer new services eg prompting customers to transfer money if they build up a large balance on a non-interest bearing account but also personalising the transaction The customer should be known everywhere if they phone if they go to an ATM if they use the Internet or if they visit a different branch This concern for consistency of service across channels is becoming a recurring theme propagating the imperative for an integrated channelAlthough a recent phenomenon the CRM concept has already been extended to include the wholeenterprise in dealing with customers and ECRM where E 5 enterprise has emerged as its current manifestation Research to date would suggest that financial institutions in particular must adopt an enterprise-wide perspective with front-officebackoffice integration if they are to become truly customer-centric and capitalise on the opportunities provided by the information which this makes available to themOur research has highlighted that most financial service organisations have a rather narrow view of ECRM For some ECRM is seen as a technology solution rather than a strategy Software packages are chosen to overcome the problems inherent in incompatible legacy IT systems often due to merger and acquisition activity where providing a consolidated view of customers is difficult if not impossible severely implicating frontline staff in their interactions with customers The CRM solution is seen as providing the platform to provide an integrate view of the customer In other organisations the ECRM project is driven by the requirements of one function rather than as part of an overall enterprise-wide customercentric strategy In essence this manifests the fact that despite the many re-engineering initiatives that have taken place in financial services institutions over the last decade different departments within an organisation still operate as silos and consequently horizontal end-to-end customer processes are still not well understood or defined In an increasing number of organisations the CRM initiative is being driven by the marketing department who see the end result of a repository of customer information and wish to utilise datamining techniques seek to extract patterns from this data for marketing decision-making purposesYet European financial service institutions can deliver value from their ECRM investments but to do this they must take a broader perspective of the concept3 Our research suggests that such a comprehensive perspective can be captured using the acronym ECRM but where these letters denote four central concepts These concepts are E Ebusiness and more importantly the integration of ebusiness activities within the framework of all existing and future commercial activitiesC Channel management the channel of greatest impact or economy anytime anywhere and anyone integrated and interactive channels of access and distributionR Relationships real commercial relationships built on service excellence value and convenienceM Management of the total enterprise total back-officefront-office process integrationIn the remainder of this paper we develop these four concepts in the context of a CRM initiative While the focus is on financial services organisations many of the issues are equally relevant for other industries We illustrate how each of the four concepts is challenging traditional players suggesting how they might be addressedEbusinessThere has been tremendous hype surrounding the concept of ebusiness4 much of it fueled by technology vendors and a media feeding frenzy the like of which has not be seen before One only has to pick up a newspaper to see the variety of e-related stories and advertisements While there is a changing world out there it is important to maintain a sense of proportion and reality and be clear as to what it is that is changingThe word ebusiness itself is something of a misnomer The word as spoken colloquially is generally used without any real clarity in an almost flippant way as if everyone understands what it means From our experience this is not the case asking a group of managers what e-business means to them usually results in a wide variety of responsesIn its current manifestation ebusiness falls into two broad categories First is the use of technology to reengineer business processes that are primarily internal to the organisation This could entail using component-based technologies to develop a new life and pensions application or developing a web-based loan processing application on the corporate Intranet Second it relates to the use of technology in how the organisation interfaces with business partners whether they are customers or suppliers an external focus For example enabling customers transact business over the Internet or establishing a new organisational model what has been referred to as avirtual organisation Venkatraman and Henderson1998 In reality e-business labeled initiatives in organisations generally exhibit attributes of both these categories As a preliminary perspective of ebusiness it is concerned with an organisation establishing an electronic business platform within a strategic business contextCreating this platform is somewhat similar to developing an ISIT strategy which many organisation have done for the last 30 years Technology may be more sophisticated than it was back then but the basic premise still holds an organisation should examine technological advancements in developing its business strategy and articulate how technology will support its strategic thrust This however is more than mere alignment of IT investments with business strategy the duality of technology is that it both enables strategies as well as creates strategiesUnfortunately many organisations have mistakenly sought to develop a separate ebusiness strategy in order to conquer this revolution An ebusiness strategy should not be seen as an adjunct to the business strategy but become an integral part of the business strategy We firmly believe that when the hype dies down that the e will be dropped and that there will be no false distinction between business and ebusiness it will all just be considered business This inclusive strategy of the business will incorporate the opportunities provided by technology enabling the organisation to establish the electronic business platform that is fully integrated into its business model Business is converging with technology and the message is no different from that of IT and competitive advantage argument of the 1980s technology decisions are essentially business decisions Peppard1993 see also Porter and Miller 1985 译文金融服务机构的客户关系管理JOE PEPPARD Cranfield University School of Management UK今天许多金融服务机构正在争先恐后地变得更加以客户为中心许多倡议的一个关键组成部分是客户关系管理CRM软件的实现我们的研究着重指出大多数机构对CRM采取比较狭隘的看法因此好处利益是有限的虽然 第二代CRM出现总机构因此企业CRM成功一般仍未普遍在了一种框架提出一种基于结合电子商务活动渠道管理关系管理和 前台办公集成在一个客户中心的战略一个2000 Elsevier科学有限公司版权所有曾几何时零售商银行保险公司与汽车经销商他们的客户了密切的关系他们知道他们的个人了解他们想要什么并满足了他们的需要通过个人的个性化服务作为结果他们赢得忠诚和分享他们的大客户的业务然而这是一个昂贵和低效率的制度和客户有效资助这个支付更高的价格关系在多年来通过大规模的营销和增加消费客户的匿名性交易关系减少品种降低价格今天通过有效利用信息和通信技术现在这样的权衡没有必要组织可以向其客户提供品种价格和个性化的服务和所有在同一时间你从来没有航空公司乘务员门人都你是一个有价值的客户和升级您的座位在第一类优先到一的新年假期的旅客你的提醒您您的车服务到期一租赁公司在一个专用的线然后提出一种等待的汽车租赁你的名称您的银行通知您在一个不计息账户剩余资金这些公司正在的有关当前和潜在客户预测并满足他们的需求这是客户关系管理CRM的实践的1今天许多企业意识到CRM和其潜力的重要性以帮助他们实现并保持竞争优势这些组织已经改变了业务流程和建筑技术解决方案使他们能够获得新客户保留现有的并他们的终身价值最大化虽然CRM是一个最近的概念它的却已经有一段时间市场商人一直促进与客户密切的关系2 多年来客户的盈利能力已被追捧意义重大一直难以确定为许多机构的组织产品或通道线同样大规模定制的概念已在