The Critical Success Factors for Implementation of Electric Customer Relationship Management in the Commercial Bank of Viet Nam

Thuy Van Nguyen,Cuong Hung Pham

doi:10.5430/ijfr.v7n5p124

Abstract

In the context of globalization and international economic integration currently, competitive pressure from the requirements of customers for banking product and services are increasing. Banks must increase investment in technological applications, built and develop modern infrastructure to diversify the banking products and services, in which the most flourishingsector is electronic banking services. Implementing successfully Electric Customer Relationship Managemet - eCRM solutions banks are expected to be the optimal solution increasing ability to understand and approaching customers better, thereby improving the bank's competitiveness. However, successful rate of implementing eCRM in world as well as in Vietnam is not high. Banks implemented eCRM often have not achieved success as expected. This study identifies and quantifies the factors that affect the success of eCRM implement of commercial banks in Vietnam, then propose solutions helping banks implement successfully eCRM solutions, improving competitive competence of commercial banks in Vietnam today.

Highlights

Famous economist Erwin FRAND stated that "Every company's greatest assets are its customers, because without customers there is no company" this statement shows the role of customers in all business activities, is the factor determining success of business
To assess the suitability of variable when put into the model, the study checks the reliability of the measurement scale using Cronbach Alpha reliability coefficients
Test results showed that Cronbach Alpha coefficient of business process factors (α = 0.455), eletric customer relationship management (eCRM) system users (α = 0.394), Testing, monitoring and measurement (α = 0.419) are smaller than 0.6, variables in 3 measurement scale is eliminated

Summary

Introduction

Famous economist Erwin FRAND stated that "Every company's greatest assets are its customers, because without customers there is no company" this statement shows the role of customers in all business activities, is the factor determining success of business. The question now is how to use technology, people, management processes in an optimal way in order to capture the essence of customers' interests, behavior, value. They can come up with the best goods and service to meet customers' demands. CRM manages comprehensively information about customer, serve overall targets, seek for new customers, maintain existing customers, entice former clients back, create good and long-term relationships with clients. In view of the business strategy oriented customers:"CRM is a set of strategic activities aims at selecting, establishing, maintaining and developing good and long term relationships between businesses and customers on the basis of adapting the processes to create interests of consumers and businesses "

Methods

Results

Conclusion