Computing’s Linda Moore argues that CRM is not just a collection of technologies or even a single technology – it’s a way of doing business that’s being adopted and exploited for maximum effect by companies of all shapes and sizes.
She cites Direct Response customer Personal Loans as one helping pioneer this new best practice: "Over the last five years many companies, especially in the financial, telecoms and insurance sectors, have overcome the emotional and cultural reasons for retaining customer-handling operations, and given in to the sound business arguments for a complete or partial outsourcing of these activities."
She argues that while issues such as regulatory compliance, data protection laws and data security may be seen as barriers to outsourcing, for medium-sized Bristol-based company Personal Loans, this was the very reason for outsourcing.
She quotes director Ian Walbridge: "Rapid changes in UK financial services regulations, consumer credit regulations and data protection laws meant that we didn’t have quite the right skills or staffing levels to provide a 24-hour service."
"It was good to get in a third party such as Direct Response. The FSA regulations are so complicated, with many grey areas. This is a 24/7 operation – we really do get people calling on Christmas Day and in the middle of the night – so it’s important to have someone at the end of a phone at all times."
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telecommunications