E-business fundamentals: A case study on e-CRM initiative of Commonwealth Bank

E-business fundamentals
5/29/2019
Commonwealth Bank

E-business 1
Contents
Introduction......................................................................................................................................2
Overview of the company................................................................................................................3
Problem or opportunity to Commonwealth bank............................................................................3
Issues............................................................................................................................................3
Opportunities...............................................................................................................................4
Nature of the eCRM initiative that the organization implemented..................................................5
Improved customer service across channels................................................................................5
CAN campaign............................................................................................................................6
Everything-as-a-service...............................................................................................................6
Ethical issues and risks in implementing the eCRM.......................................................................7
Security issues.............................................................................................................................7
Reliability....................................................................................................................................8
Dependence..................................................................................................................................8
Success of the e-CRM initiative......................................................................................................8
Recommendations for further improvement....................................................................................9
Conclusion.....................................................................................................................................10
References......................................................................................................................................11

E-business 2
Introduction
Customer relationship management (CRM) is an approach that is used by the company to
manage the interaction with potential customers. This interaction is majorly maintained by the
company with the help of the history of the customer's with them to enhance their experience
with the company so that they remain loyal with them and this drives the rise in sales of the
company. This paper includes the case study that reflects the understanding of e-business
concepts in the Commonwealth bank. The evaluation of the e-CRM for Commonwealth bank has
been done to identify the problem or opportunity of the company. The evaluation helps the
company to recommend for improving the performance of e-CRM. In addition, the report
includes the ethical issues and risks of the company that they might face while implementing the
e-CRM. In the end, the successful e-CRM initiative has been done with further recommendations
for improvement.

E-business 3
Overview of the company
Commonwealth Bank of Australia is a recognized multinational Australian bank with the
business at different areas of the world including New Zealand, United Kingdom, Asia, and
many others. The company is a leading provider of the combined financial services that consists
of premium, retail, business, institutional banking, management of funds, insurance, investment
and many others (Commonwealth Bank, 2019). The company needs an advance requirement
related to the technology so that complete the needs and expectations of the customers due to
which they like to form a strong relationship with them. Commonwealth bank implements the e-
CRM that allows the company to enable the customers to assist them in their transactions
(Commonwealth Bank, 2019). The company apply the e-CRM for improving the capacity in the
competitive market and for enhancing their concentrated market that contributes in enhancing the
profit, decreasing cost and many other benefits (Hosseini, Hosseini and Meymand, 2016).
Problem or opportunity to Commonwealth bank
Commonwealth Bank tries to manage the long-term customer relationship that is possible with
the help of effective customer relationship management. This has been found that the bank has
taken the initiatives for customer relationship but they deal with some issues.
Issues
In the Australian market, the Commonwealth bank is serving best services as well as experience
to their customer that is witnessed with the help of “finest online” project 2007 - 2009 of
company. The commonwealth bank of Australia redesigned its NetBank Internet banking service
with the motive to provide the delight customer experience and online sales (Commonwealth