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Noida-based information technology product company CRMnext has secured the mandate to consolidate ICICI Group’s customer relationship management (CRM) strategy on its platform. As part of the deal, CRMnext would first transform and consolidate the CRM practices of ICICI Bank, followed by those of ICICI Prudential. Other group companies such as ICICI Prudential AMC and ICICI Lombard also come under the ambit of the contract.
CRM is a model for managing a company’s interactions with customers. It involves the use of technology to organise, automate and synchronise operations such as sales, marketing, customer service and technical support.
“ICICI Group has been investing in various CRM platforms and now they want to bring all of that to a single CRM platform like us, thereby connecting all the branches, various sales channels and the call centre channels to a single channel. Essentially, what they are doing is using a unified CRM platform,” Nishant Singh, chief executive of CRMnext, said.
Currently, ICICI Bank uses different CRM practices across various channels; consolidation would ensure increased productivity and reduced time and costs. CRMnext would implement its offering at ICICI Bank through the next 18 months, in three six-month phases, Singh said. The first phase would involve about 40,000 seats across 3,300 branches. After the contract is effected, about 80 per cent of ICICI Bank’s CRM would be consolidated on CRMnext’s platform. The bank’s foreign branches and foreign subsidiaries also come under the ambit of the contract.
“Essentially, at the end of these 18 months, there would be a faster, more responsible and a leaner organisation in terms of productivity,” Singh claimed. “We have already started working with other group companies and over the next 18 months, you will see most group companies adopting us. Every business will determine its strategy and according to their strategy, they will decide how much of their partnership would come to us.”
