BANKING
| ICICI Group to revamp its CRM strategy with CRMnext Mon, 16 Sep 2013 12:07:00 0530 |
| Noida-based information technology (IT) product company, CRMnext has got the mandate to consolidate the customer relationship management (CRM) strategy for the entire ICICI Group on its platform. As part of this multi-million dollar deal, CRMnext will first transform and consolidate the CRM practices of ICICI Bank, which will be followed by the group's insurance unit, ICICI Prudential. Other group companies such as ICICI Prudential AMC and ICICI Lombard also come under the ambit of the contract. CRM is a model for managing a company’s interactions with current and future customers, and involves usage of technology to organise, automate, and synchronize various operations such as sales, marketing, customer service, and technical support. “ICICI Group has been investing in various CRM platforms, and now they want to bring all of that to a single CRM platform like us, thereby connecting the entire branches, the various sales channels, the call centre channels on to a single channel. Essentially what they are doing is they are using a unified CRM platform,” Nishant Singh, CEO, CRMnext told Business Standard. ICICI Bank currently uses different CRM practices across various channels, and this consolidation to one platform will ensure increased productivity as it would reduce the time and costs involved. The contract will bring most channels of the country's largest private sector bank, including branches, call centers, sales, services and operations onto a single standard platform. CRMnext will complete implementation of its offering at ICICI Bank over the next 18 months, in three phases of six months each, Singh added. The first phase of this enterprise-wide implementation for ICICI Bank will be for 40,000 plus seats across 3,300 branches. Post completion of the contract, as much as 80% of ICICI Bank’s CRM would be consolidated on CRMnext’s platform. The bank’s overseas branches and foreign subsidiaries also come under the ambit of this contract. “So essentially what we are saying is that at the end of these 18 months, there will be a faster, more responsible and a leaner organisation in terms of productivity,” Singh claimed. “We have already started working with other group companies, and over the next 18 months you will see most of the group companies adopting us. Every business will determine its strategy and according to their strategy they will decide how much of their partnership will come onto us,” Singh added. The ICICI Group’s contract marks another large win in the banking, financial services and insurance space for CRMnext, which already has associations with clients like HDFC Bank, Bajaj Auto Finance, Max Life Insurance and UTI Mutual Fund. The company’s deployment at HDFC is as yet the largest single platform CRM implementation with 55,000 seats. |
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