CRM scorecard-based management system: Performance evaluation of Saudi Arabian banks

Abstract

Customer relationship management (CRM) is one of the most important business strategies for evaluating the performance of an organization. The attitudes of customers towards an organization are based on its performance and on customer satisfaction. For this, companies are investing a huge amount to implement CRM strategies and infrastructure to attract the attention of customer in today's competitive business market. To achieve such a target, a company must have a measurement system to manage and assess the effectiveness of CRM initiatives. One of the most effective performance measurement methods is the Balanced Scorecard. In this article, we propose a CRM scorecard for the measurement, evaluation and enhancement of CRM systems in Saudi Arabian banks to improve customer satisfactions and loyalty. The CRM scorecard is used to evaluate the strategy and performance of the developed business solutions. The proposed scorecard contains important measures based on research and CRM practice in Saudi Arabian banks.