Managing customer relationships using CRM technology in India's financial sector

Today's customer not only demands quality products and services but also looks for value in the transaction process itself. This paper explores the role and relevance of CRM in creating sustainable relationships. The discussion focuses on the use of CRM technology in the financial sector in India. It highlights how they are changing their business processes to provide better value to the customer during the interaction. The paper reiterates the growing relevance and demand for building relationships with customers and emphasizes the usage of information technology in creating better value for the end user. It also explores the practices being adopted in the financial sector organizations in India in redesigning their business processes to enhance their competitiveness through more meaningful interaction with customers. With information technology setting newer standards of performance, financial organizations able to reorganize their business and services around core processes are the ones that stand to succeed.