Benefits of Implementing Customer Relationship Management with Knowledge Management in the Banking Sector

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ملخص

This paper reviews the literature on customer relationship management (CRM) with Knowledge Management (KM) in the banking sector. CRM focuses on handling the relationship between an institution and its current and prospective customer base as a key to success, while KM distinguishes the knowledge obtainable to the institutions as a major success factor. From a commercial
procedure manager’s perspective, both the CRM and KM methods promise a positive impact on cost structures and revenue
streams in return for the allocation of resources The main ideas of CRM and KM are both used to emphasize the organization's
resources to improve the performance of all activities in order to gain competitive advantages. The results of this paper will be
of benefit to both the customers and the banking sectors. From a better understanding of the CRM with KM, the banks will
have a greater understanding of the true needs and expectations of the customer. It is regarded as a source for competitive
advantage because it enables banks to foster more profitable CRM methods. Commonly for today’s banks, CRM and KM is
essential for consistent and effective decision-making and improvement. Today, there is the widespread use of CRM with KM for
the process of problem-solving. The contribution of this paper lies in showing the importance of implementing successful CRM
with KM in different banking sectors will allow them to gain competitive advantages and will plays the role of a service
provider to their customers. The outcomes of this paper are based on a literature analysis of some related works, supplemented by
surveys. In this paper, I show that the benefit of using CRM and KM in the banking sector can improve performance by
integrating both methods into customer knowledge management (CKM).
اللغة الأصليةEnglish
حالة النشرPublished - أكتوبر 2014

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