Value-Based CRM

One major development within business practice is the increasing interest in customer relationship management (CRM) in recent years. CRM thereby focuses on establishing and maintaining profitable relationships with the customer using modern information technology (IT) and has emerged as a major research field in business and information systems engineering. However, despite huge investments many CRM projects fail to achieve their objectives as the complex and interdisciplinary nature of CRM is not addressed adequately. In fact an adoption of a customer-centric orientation within a value-based management requires not only a cross-functional integration of different business departments but also a selectively adjusted collaboration of those departments.