Review of the Impact of Customer Relationship Management on Bank Profitability

Abstract

At the dawn of the third millennium, called the Century of Information and Information Technology, many of human life have undergone fundamental transformations. Failure to consider these rapid changes and the lack of appropriate policies to take advantage of the state of affairs will make the gap between our country and the developed world very large. Customer Relationship Management is a view that emphasizes the collaborative interaction between the parties in exchange for value creation. This view, which is the result of the recent advances in information technology, by collecting and organizing customer data in databases, seeks to respond better and faster to the demands and needs of them, and, as a result, to stabilize customer relationships and the survival of the organization. Customers, in turn, continue to relate to the trust, isolate themselves from others, and receive priority and additional services. During the 1990s, the interactive customer relationship management process, relying on the information technology that is at the end of the business process and in relation to the customer, has been redefined, and today it is known as Customer Relationship Management (CRM). Gets The work, which stems from the impact of information technology on the organization's pitfalls, the importance of managing information and customer knowledge has become more evident than before. Customer-centered management requires the appropriate technical, economic and human resources infrastructure. Obviously, developing e-commerce in the country, entering world markets and membership in organizations such as the World Trade Organization, is essential for customer relationship management. Customer relationship management, customer satisfaction, cost savings and manufacturing, and generates more revenue for organizations. Hence, the deployment of customer-focused management is one of the major issues that today are the requirements of the survival of organizations in the competitive world. Because customer relationship management aligns business processes and customer strategies with the aim of increasing customer loyalty and gradually increasing profitability.