Developing a Crm

Article Title: Developing a CRM Strategy in Your Firm

The article basically talks about how a corporation can successfully implement a Customer Relationship Management (CRM) strategy. In the case of CRM, it is applicable in a company that offers good and also services. A customer is a central focus of a corporation. One reason is to develop loyalty of customers and to create competitive advantage over competitors.

In our company, the Philippine Stock Exchange (PSE), I can say that the brokers/traders are the direct customers/clients that we are serving. As a stock exchange, we offer them services by providing them a central trading floor and a trading system to trade stocks. They subscribe to PSE by accessing the trading floor and availing trading accounts to use the trading system to be able to cater to the needs of investors.

CRM is implemented in our corporation in a different way. I can discuss this by talking about the recent project that we implemented in the Exchange. Two months ago, PSE acquired a new trading system (NTS) and replaced the fifteen-year old system interface used by the brokers/traders subscribed in the Exchange. A whole lot of brokerage houses are connected with the Exchange for more than 20 years now. With these years of relationship, PSE has established enough knowledge about majority of these broker houses. With the implementation of the NTS, the management are very much knowledgeable on what to expect before, during and after implementation. During the market studies, the brokers were expected to resist the drastic change that is to be implemented so a lot of sessions were conducted to hear the concerns of each of the brokers.

On the first week of implementation, a team of staff were deployed in the trading floor so as to cater to questions and concerns and to assist them during the trading hours. The management insists that it is important for us, the support team, to be physically there during those early stages of...