E-Business Fundamentals in Commonwealth Bank: Evaluation of e-CRM

Explore the e-business concepts in Commonwealth Bank and evaluate the e-CRM initiative. Discover the issues, opportunities, and recommendations for further improvement.

Information
technology
E-business fundamentals

Introduction
• The aim of the presentation is to explore about the about e-
business concepts in Commonwealth bank.
• The evaluation of the company e-CRM has been done which
include the issues and opportunities for the company.
• It has been found that e-CRM helps the company to improve
its relationship. According to the evaluation the
recommendation for improving the performance of e-CRM.

Overview of the company
• Commonwealth Bank of Australia is leading provider of the
combined financial services that consists of premium, retail,
business, institutional banking, management of funds,
insurance, investment and many others.
• The company apply the e-CRM for enhancing the capacity in
the competitive market.
• This contributes in enhancing their concentrated market that
contribute in increasing sales, reducing cost and many other
benefits.

Problems to Commonwealth
bank
• Customers faced the issues related to the logging into online
banking services after the five-hour outage saw the transfers
as the facility was provided by company to customers for
improving the relationship.
• Another issues that is customers are dealing with the issue to
access the mobile app, as they are not able to make the easy
the transactions because of the crash of the online system.

Opportunities to
Commonwealth bank
• In the competitive era, where the
customers are dealing with data
breach commonwealth has
opportunity of providing the
effective services and managing the
customer relationship
commonwealth can win the trust of
the employees.
• This helps them to attract and
retain the customers in the market
who face the issues with the other
companies.

eCRM initiative
implemented
Commonwealth bank considered the issues and opportunities
that are present in the market and offer the below given
initiatives: -
• Improved customer service across channels
The commonwealth bank found that customer complaints are
increasing and they started acknowledging those complaints and
provided updates to the customers through different channels.

Continue…
• CAN campaign
Commonwealth bank took the step in which they brought the
“Can Campaign” that majorly highlights the services that range
from the mobile payment to apps for the homebuyers.
It helps the bank to get the attention of potential customers and
to form the long-term relations with existing customers
• Everything-as-a-service
The company offers Everything-as-a-service with his enterprise
service team offer companies who want to improve human
resources and the customer relationship management.

Process of initiative
• It has been found that major process behind all the operations
is the customers of Commonwealth bank.
• Commonwealth bank employees enrol in the e-CRM exam
majorly on the new technology so that they can offer delight
experiences and improved services.
• The bank deals with the risk of losing the customers due to
which they consider the revaluation in the data of their clients
so that they can effectively manage the customer attrition.

Ethical issues and risks in
implementing the eCRM
The implementation of the e-CRM leads to several ethical issues
and risk for the company that are given below –
• Security issues
In the end, this has been found that Commonwealth Bank has
achieved the success with the implementation of eCRM initiative

Continue…
• Reliability
There is risk to the company that this initiative of CRM that is
implemented will remain reliable or not.
• Dependence
Initiative of the commonwealth is dependent on the internet
connectivity and digital platform.

Success of e-CRM initiative
• The e-CRM initiatives that are taken by the company are
applied with the use of mediums like social media, electronics,
mail, phone and many others.
• The initiatives of the company are successful because they are
able to meet the changing needs of customers and it retain
the customers.

Recommendations for
further improvement
• It is suggested to the company that they should make use of
videos and different social media tools through which they can
directly make the customers feel prior.
• It is suggested to the company that they should make use of
videos and different social media tools through which they can
directly make the customers feel prior.

Conclusion
• The company that has been selected for the e-CRM is
Commonwealth bank, which is a well-known Australian bank
who is effectively performing it entire business operations.
• It has been found that presently the bank is dealing with the
different types of issues that they want to resolve by
implementing the e-CRM.
• In the end, this has been found that Commonwealth Bank has
achieved the success with the implementation of eCRM
initiative.

References
• Commonwealth Bank (2019) About Commonwealth Bank
[Online]. Available from:
https://www.commbank.com.au/about-us.html?ei=CB-footer_ab
out-commbank
[Accessed on 29th May 2019]
• Dalir, M., Zarch, M.E., Aghajanzadeh, R. and Eshghi, S. (2017) The
Role of e-CRM in the quality of customer-bank
relationship. Human Resource Management, 4(2), pp.12-22.
• Darajeh, M.R. and Tahajod, M. (2010, June) Benefits of e-CRM for
financial services providers. In 2010 International Conference on
Financial Theory and Engineering (pp. 95-98). IEEE.
• Schelle, C. (2018) CommBank online services restored after
outages [Online]. Available from:
https://www.heraldsun.com.au/news/victoria/commonwealth-b
ank-online-and-visa-transactions-down/news-story/38c5bb1da1
414ffeb2e7b22a6ff21637