19
PROJECT
SIKKIM MANIPAL UNIVERSITY
LEARNING CENTRE CODE: 01513
PLACE - KOLKATA (West Bengal)
AN INSIGHT TO THE
CUSTOMER RELATIONSHIP MANAGEMENT
Of
HDFC BANK LTD.
(A Division of HDFC LTD.)
Research Conducted By : BOSE
Student :Sikkim Manipal University
Course :MBA
Semester :Fourth (4TH)
Specialization :Marketing
S.M.U Roll No. :
Learning Centre :2/1C Townshend Road,
Kolkata – 700 025.APEX,
I.D NO - 270072121
PROJECT FINAL REPORT
ON
CUSTOMER RELATIONSHIP MANAGEMENT
BY
PINTU BOSE
AT
PROJECT TITLE
A project report on
CUSTOMER RELATIONSHIP MANAGEMENT
OF
COMPANY GUIDE
======
Branch Manager
Kolkata
Prepared by :
Pintu Bose
Roll no. 520762509, Sem-Fourth(4)
APEX(KOLKATA)
Customer Relationship Management (CRM)
What is CRM?
CRM stands for Customer Relationship Management. It is a process or methodology used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a process that will help bring together lots of pieces of information about customers, sales, marketing effectiveness, responsiveness and market trends.
CRM helps businesses use technology and human resources to gain insight into the behavior of customers and the value of those customers.
CRM Software
Sales Force Automation
Contact management
Contact management software stores, tracks and manages contacts, leads of an enterprise.
Lead management
Enterprise Lead management software enables an organization to manage, track and forecast sales leads. Also helps understand and improve conversion rates.
eCRM or Web based CRM
Self Service CRM
Self service CRM (eCRM) software Enables web based customer interaction, automation of email, call logs, web site analytics, campaign management.
Survey Management Software
Survey Software automates an enterprise's Electronic Surveys, Polls, Questionnaires and enables understand customer preferences.
Customer Service
Call Center Software
Help Desk Software
Partner Relationship Management
Contract Management Software
Contract Management Software enables an enterprise to create, track and manage partnerships, contracts, agreements.
Example: Upside Software, Accruent Software, diCarta, I-Many.
Distribution management Software
Thanks to the expanding global workforce, heightened competition, and the continued need to cut costs and drive productivity, companies today are facing a new array of challenges. Many organizations have employees working out of the office, whether it’s your traveling salesperson, or workers in other states, countries, or from home. Collaborating as a unified team (Workforce Collaboration) has never been more crucial and sharing information with a teammate in the next cubicle is only a small piece of the puzzle. That’s where Business Software and Customer Relationship Management (CRM) applications come in.
CRM programs enable businesses to centrally access and manage customer information. Whether information is being shared amongst a large group, such as in a call center or simply between a few employees in a small business, it has to be accurate and reliable. In order to retain customers, their information needs to be recorded securely and correctly. Most people have encountered the reverse of this scenario and know how infuriating it can be when companies have poor organization and communication among their workers. To ensure your customers are satisfied, you need to stand above the rest and have an information hub where all workers have access to vital information about customers. This will help you achieve proper customer service, sales, marketing, and to unite all departments of your business. CRM’s make Workforce Collaboration easier than ever!
Of course, not all team members should have access to the same information, and that’s why certain CRM applications enable you to share information with your team members securely and with necessary territorial controls. That means team leaders can view more information and each department will see all relevant information. This ensures excellent Project Management for any organization, which is vital to your success.
CRM applications help all companies reduce the time and complexity it takes to report individual sales activities. Without a CRM, your workers will require an extra 64 to 70 hours per week! For instance, it will take 4-6 hours to consolidate, view, and analyze information about all customer contacts and engagements, current opportunities, probability of success, etc. Another 8-10 hours to get accurate activity reports from staff (not including the time it takes them to create those reports). Add 2-4 hours to find key potential prospects so that you target the right customers, or weed out the poor prospects. Finally, add on another 1/2 hour or so to research each customer regarding past history, needs, etc.
Any company that needs Process Improvement will find that in order to be more effective and cost efficient, a system of Sales Force Automation must be implemented. Certain CRM systems can significantly reduce wasted time and increase sales. Not only is Sales Force Automation important to sales teams, companies are increasingly required to automate common practices and processes. Sending emails to clients, entering vital information, and other crucial steps are automated with popular CRM applications to reduce wasted time of manually performing mundane tasks.
CRM applications make Project Management easier for company leaders with simple ways to monitor and measure individual and team success. Workers perform best when they have a clear-cut way to measure their success and see improvement. Of course, by measuring success, rewards can be given to enhance team morale! Employees that are struggling to perform can be encouraged and further trained to boost productivity. Everyone in the business world is competitive, especially salespeople; that's the point of quotas and commissions. When reps see how their doing against their quota, or even against other reps, that is encouragement to do better.
With handy tools in CRM applications, your company can effectively improve Workflow by targeting a) prospects for new business and b) existing customers for repeat business. This is a crucial tool to reduce wasted time and eliminate bothering the wrong customers. Your team will be able to quickly divide lead lists into groups that you create such as by ZIP code or last date of purchase. This enables your sales team to slice and dice their customer data to find the best approach. Creating "data policies" is a great way to do that. For example, if a new prospect is introduced and there is data indicating their interest in "Trucks," a completely different selling process can start for that prospect.
As times have changed, a simple phone call or visit isn’t always enough. CRM applications will provide you with multiple ways to communicate to customers such as email marketing campaigns. By combining CRM Sales Force Automation data management and email campaigning in one application, you can specify your lead, prospect, and account targets, embedded personal information into each email, and measure results across your sales cycle.
Your CRM will make it easier to target the right customers with email lists and to make sure your message isn’t viewed as spam by filters or customers! Newsletters make excellent campaigns to provide your reader with information that will help them improve their situation in an unobtrusive way. Meanwhile, it positions you as a reputable source of useful information. The better your content is, the better your chance that they will forward the newsletter to colleagues and peers or look forward to the next email from you. Your CRM will assist you in your email campaign efforts by offering simple templates in HTML form and providing you with statistics such as: who opened the email, who clicked on your link from the email, who unsubscribed, etc. Creating automated callback lists for customers who appeared to be interested (clicked on links, opened email, etc.) is a highly successful tool.
A CRM application will enable your organization to build on customer data with information relating to: opportunities, products, services, projects, customer feedback, referrals, accounting, and more. A Sales Force Automation CRM will automate processes that used to take days and will simplify it!
The answer to the problems associated with the expanding global workforce is through Web Collaboration technologies. This means operating a successful CRM and Business Software system for your company. You can be sure to:
- Win Customers: Nothing will be left to chance. From the first contact through first sale, everything is tracked.
- Work Together: It doesn’t matter where you employees are in the office, state, country, or world, they will have the information they need to close more deals.
- Work Smarter: Working smarter is better than harder. It helps cut wasted time, efforts, and money! You have the reporting data you need to make great decisions.
Acknowledgements
If words are considered to be signs of gratitude then let these words
Convey the very same My sincere gratitude to HDFC BANK for
providing me with an opportunity to work with BANK and giving
necessary directions on doing this project to the best of my abilities.
I am highly indebted to Mr. Sunandit Chatterjee, Branch Manager
and company project guide, who has provided me with the necessary information and also for the support extended out to me in the completion of this report and his valuable suggestion and comments on bringing out this report in the best way possible.
I also thank Prof. Pragna Kaul, IBMR_Kolkata, who has
sincerely supported me with the valuable insights into the completion
of this project.
I am grateful to all faculty members of IBMR_Kolkata and my
friends who have helped me in the successful completion of this
project.
CONTENTSSr. No. / Subject Covered / Page No.
1 / Banking Structure in India / 6-7
2 / Indian Banking Industries / 8-9
3 / Upcoming Foreign Bank in India / 10
4 / HDFC BANK / 11-12
5 / Company Profile / 13-15
6 / Technology used / 16-19
7 / Product and Customer segments / 20-23
8 / Business Strategy / 24-25
9 / Inside Hdfc Bank / 26-31
10 / Rupee Earned – Rupee Spent / 32-33
11 / Recent Development / 34-41
12 / SWOT Analysis / 42-48
13 / Project on Plastic Money / 49-55
BANKING STRUCTURE IN INDIA
Scheduled Banks in India
(A) Scheduled Commercial Banks
Public sector Banks / Private sector Banks / Foreign Banks in India / Regional Rural Bank(28) / (27) / (29) / (102)
· Nationalized Bank
· Other Public Sector Banks
(IDBI)
· SBI and its Associates / · Old Private Banks
· New Private Banks
(B) Scheduled Cooperative Banks
Scheduled Urban CooperativeBanks (55) / Scheduled State Cooperative
Banks (31)
Here we more concerned about private sector banks and
ompetition among them. Today, there are 27 private sector banks
in the banking sector: 19 old private sector banks and 8 new
Private sector banks. These new banks have brought in state-of-
the-art technology and Aggressively marketed their products.
The Public sector banks are Facing a stiff competition from the
new private sector banks. The banks which have been setup in
1990s under the guidelines of the Narasimham Committee are
referred to as NEW PRIVATE SECTOR BANKS.
New Private Sector Banks
· Superior Financial Services
· Designed Innovative Products
· Tapped new markets
· Accessed Low cost NRI funds
· Greater efficiency
INDIAN BANKING INDUSTRIES
The Indian banking market is growing at an astonishing rate, with
Assets expected to reach US$1 trillion by 2010. An expanding
economy, middle class, and technological innovations are all
contributing to this growth.
The country’s middle class accounts for over 320 million people.
In correlation with the growth of the economy, rising income levels,
increased standard of living, and affordability of banking products
are promising factors for continued expansion.
The Indian banking Industry is in the middle of an IT revolution,
Focusing on the expansion of retail and rural banking.
Players are becoming increasingly customer - centric in their
approach, which has resulted in innovative methods of offering new
banking products and services. Banks are now realizing the
importance of being a big player and are beginning to focus their
attention on mergers and acquisitions to take advantage of
economies of scale and/or comply with Basel II regulation.
“Indian banking industry assets are expected to reach US$1 trillion by
2010 and are poised to receive a greater infusion of foreign capital,”
says Prathima Rajan, analyst in Celent's banking group and author of
the report. “The banking industry should focus on having a small
number of large players that can compete globally rather than having
a large number of fragmented players."
UPCOMING FOREIGN BANKS IN INDIA
By 2009 few more names is going to be added in the list of foreign
banks in India. This is as an aftermath of the sudden interest shown
by Reserve Bank of India paving roadmap for foreign banks in India
greater freedom in India. Among them is the world's best private bank
by EuroMoney magazine, Switzerland's UBS.
The following are the list of foreign banks going to set up business in India :-
· Royal Bank of Scotland
·
· Switzerland's UBS
· US-based GE Capital
·
· Credit Suisse Group
·
· Industrial and Commercial Bank of China
WE UNDERSTAND YOUR WORLD
The Housing Development Finance Corporation Limited (HDFC) was
amongst the first to receive an 'in principle' approval from the
Reserve Bank of India (RBI) to set up a bank in the private sector, as
part of the RBI's liberalization of the Indian Banking Industry in 1994.
The bank was incorporated in August 1994 in the name of 'HDFC
Bank Limited', with its registered office in Mumbai, India. HDFC Bank
commenced operations as a Scheduled Commercial Bank in January
1995.
HDFC is India's premier housing finance company and enjoys an
impeccable track record in India as well as in international markets.
Since its inception in 1977, the Corporation has maintained a
consistent and healthy growth in its operations to remain the market
leader in mortgages. Its outstanding loan portfolio covers well over a
million dwelling units. HDFC has developed significant expertise in
retail mortgage loans to different market segments and also has a