CRM in Russia and U.S. -- Case Study from American Financial Service Industry

Griffin, Tom; Curtis, Tamilla; Barrere, Donald
April 2009
Journal of Technology Research;Apr2009, Vol. 1, p2
Academic Journal
This paper discusses Customer Relationship Management in two sharply contrasting business cultures: the United States and Russia. Included in the present work is a case study of a midsized American financial services firm that illustrates a common path to the decision to have a CRM system: the planning, selection, and the implementation of the CRM program, including a discussion of the likelihood of success. The clients in this case are Financial Advisors, who in turn sell the investment products to the end user individual investors. CRM in Russia is yet in its infancy as the economy emerges from 200 years as a pure commodity economy with little customer service much less customer relationship management as part of management philosophy. The study concludes with implications and suggested research.


Related Articles

  • How to lengthen, deepen and broaden customer�firm relationships with online financial services? Chiung-Ju Liang; Hui-Ju Chen // Journal of Financial Services Marketing;Dec2009, Vol. 14 Issue 3, p218 

    This study aims to examine the influence of online relationship marketing on consolidating online customer�firm relationships. Through developing an empirical model, this research explores the links between online relationship bonds (financial, social and structural bond), online...

  • An approach for the identification of cross-sell and up-sell opportunities using a financial services customer database. Salazar, Maria Teresa; Harrison, Tina; Ansell, Jake // Journal of Financial Services Marketing;Nov2007, Vol. 12 Issue 2, p115 

    The collection, management and manipulation of customer data are key to the successful operation of many relationship marketing and customer relationship management endeavours. To make effective use of the data, however, requires that organisations know how to analyse it in order to generate...

  • A personal touch to collections. Sarenac, Igor // Credit Management;Dec2013, p24 

    The article offers information on the personalised care approach to debt collections for customer satisfaction by the financial services providers. It mentions that customer experience improvement for brand differentiation is a major trend that drives banks to focus on optimizing their service,...

  • What advisers are saying: Regular contact fosters trust of your clients.  // Money Marketing (Online Edition);11/27/2014, p1 

    In this article, the author focuses on the role of regular client relationship management in fostering trust of clients and to boost investment performance. He states the personalization of client service can help to reduce public distrust of the financial services industry and client retention...

  • Impact of Information Technology Management Practices on Customer Service. Karimi, Jahangir; Somers, Toni M.; Gupta, Yash P. // Journal of Management Information Systems;Spring2001, Vol. 17 Issue 4, p125 

    Recently, despite huge incentives and subsequent increases in investment in customer relationship management technology, many firms have not been able to increase their customer satisfaction index ratings. The purpose of this paper is to gauge whether IT management practices differ among firms...

  • APPLICATION OF THE INFORMATION TECHNOLOGY IN THE CUSTOMER RELATIONSHIP MANAGEMENT. DOMAŃSKA-SZARUGA, Beata; SENKUS, Piotr // Hyperion International Journal of Econophysics & New Economy;2012, Vol. 5 Issue 1, p129 

    It is the information management, including knowledge management that is the essence of functioning of any modern company operating in the new economy. Thanks to teleinformatic technologies, information and knowledge becomes the primary engine of the economic development, as well as the decisive...

  • SMARt projects CRM application enables same standard of service across all channels: Gateshead Council implements single customer database to simplify services. Hadfield, William // Computer Weekly;1/31/2006, p13 

    The article reports that Gateshead Council of Gateshead, England has implemented a customer relationship management (CRM) application to enable a single view of all a citizen's dealings with the council across all front-line services. This will mean members of the public receive the same level...

  • Treating Customers Fairly - Not a simple task! Rosling, Stephen // Asia Insurance Review;Jan2013, p92 

    The article offers the author's insights on the issues customer satisfaction in the financial services industry, citing relevant events in the Financial Services Authority (FSA) of Great Britain. The author differentiates customer satisfaction with customer fairness and the mistakes of firms in...

  • Improving Customer Service in the Banking Industry-Case of Ghana Commercial Bank (GCB)-Ghana. Amoako, George K. // International Business Research;Apr2012, Vol. 5 Issue 4, p134 

    Customer service has become so vital and significant to consider especially in the financial business sector whether locally or globally. As banks continue to provide an increasing number of financial services and products, they face the challenge of integrating these disparate systems into a...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics