eCRM-Service Quality

Headnote

Abstract

In the fast changing economic environment the success of banking depends upon technology, people and customer. eCRM which is the latest buzz word in the corporate sector, is perceived as one of the effective tool in the direction by the banks. eCRM emerges from the internet and web technology to facilitate the implementation of CRM. This study compares the level of eCRM service quality offered by different banks in Haryana state. Data were collected from the bank customers using survey method. Four banks, two from public sector namely State bank of India and Punjab national bank and two from private sector namely HDFC and ICICI were taken. Using gap analysis the results clearly indicated that account holders expectations regarding eCRM services in the selected banks were met by the selected banks of Haryana.

Keywords: Customer relationship management (CRM), e-Customer relationship management, eCRM services.

1. Introduction

Electronic customer relationship management (eCRM) plays a key role in banking sector. Earlier in banking sector it was untypical to find website interactions in one database, agreements in an administration system, call center history in another and payment history in accounting system. Though difficult to do but integrating such a huge information system could provide valuable insight into financial customer's behavioural pattern, preferences and signals for intended behaviors.One solution of this was Electronic Customer Relationship Management (eCRM).

Electronic customer relationship management (eCRM) plays a key role in banking sector. eCRM is being adopted by the banks because it increases customer loyalty and customer retention by improving customer satisfaction. This results into long term profits because organisations using eCRM incur less cost of recruiting new customer while experience increases customer retention [1] ,[2],

2. Review of Literature

As the new millennium progresses, the business world is focusing more attention on issues concerning customer satisfaction, customer retention, and customer loyalty. The last several years witnessed the rise in the uses of information and communication technologies in dealing issues mention above. The term 'IT-enabled services' encompasses many activities carried out through computer networks and the Internet, including inter-organizational commerce, intra-organizational transactions, and transactions involving the individual consumer. The impact of IT made a substantial difference in business-to-customers (B2C) transactions. The IT seemed to offer almost unlimited possibilities. Indeed, numerous firms...