Abstract
Calculating total cost of ownership (TCO) and benefits, building a business case and applying financial measurement methodologies help a company make right customer relationship system for investments solution and build compelling justification for its customer relationship system project. In addition, ongoing measurement of customer relationship system (CRS ) benefits ensures that an enterprise receives expected advantages and achieves strategic objectives. In this paper peculiarities of TCO economic efficiency are analysed. Evaluation method application when developing, using and expanding CRS is being considered, strengths and weaknesses of cost-oriented approach are discussed. Authors present and interpret their empirical research results.
Highlights
As a result of globalisation, companies face ever increasing global competition
ISSN 1611-1699 print information about 100,000 customers and on the basis of historical information, the company can offer each customer what he needs. It is essential for the companies planning to develop a customer relationship system (CRS) to use adequate evaluation methods to identify the efficiency of the CRS under consideration and form the basis for objective decisions
The total cost of ownership (TCO) can be defined as the systematic quantification of all costs generated over the lifetime of a CRS project
Summary
As a result of globalisation, companies face ever increasing global competition. Consumers may choose from an increasing variety of suppliers of goods and services: where to purchase food or spend their holidays, which suppliers of telecommunication services to use, where to borrow money or keep it, etc. ISSN 1611-1699 print information about 100,000 customers and on the basis of historical information, the company can offer each customer what he needs It is essential for the companies planning to develop a CRS to use adequate evaluation methods to identify the efficiency of the CRS under consideration and form the basis for objective decisions. Successful CRS implementation initiative is deemed to integrate companies’ customer-facing processes, improve the efficiencies of their sales forces and call centres, and more accurately target their campaigns with the help of sophisticated customer data analytics. This initiative is deemed to place the company in a better financial position for the future. To achieve the purpose of this study, research methods were used: scientific and practical literature analysis and generalization, and empirical research of Lithuanian companies
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