Making Every Customer Relationship Count: Exploring the Business Drivers and Technology Enablers of CRM

11th Dec 2000
Competition in all industries, as well as increasing customer sophistication, is forcing organizations to rethink how they do business. Products are no longer the key differentiator - competitive advantage comes from utilizing all knowledge within the organization to treat customers as individuals and maximize their lifetime value. This paper argues that, as organizations shift their business models, success is based on the ability to identify, acquire, retain, and grow the most profitable customers. Until now, information technology has not enabled this process. Most systems have reflected a product and functional focus, and customer data has resided on multiple systems with no ability to link together. A fresh approach is required, one that utilizes a completely integrated and flexible information architecture to support a customer-focused business strategy.
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