Improving Customer Management: Commonwealth Bank Service Disruptions

This report examines the effectiveness of business management strategies at the Commonwealth Bank of Australia, focusing on customer management during service disruptions. It addresses the challenges faced by the bank due to a system outage that affected customer service and explores strategies to mitigate the impact of such disruptions. The project aims to ensure customers face less inconvenience during outages, provide emergency transaction services, and foster better understanding between the bank and its customers. Key considerations include customer satisfaction, product optimization, and reducing service resumption time. Anticipated outcomes include improved access to basic transaction services, clear communication during outages, and better customer handling during emergency situations. The report concludes that successful implementation of the project will enhance the bank's competency in customer management and optimize its functions for better performance.

Effectiveness of Business
Management: Commonwealth
Bank

Introduction
 Organizations are bound by the requirements of the various
significant situations that they face from time to time
 Commonwealth bank has faced a significant issue that it needs to
managed through the implementation of effective strategies
 It is to the best interest of the management that timely actions
are implemented to effectively tackle the challenges that have
risen due to the issues
 Actions of the management should be directed toward efficient
customer management

Background
 Commonwealth Bank of Australia
recently witnessed severe disruptions
in customer service due to a 5 hour
system outage
 The customers were greatly affected
as transfer, log-in and some of the
card functions were affected (Massive
CommBank outage sparks fury, 2019)
 Later on the functions were restored
but issues persisted with the login
function of the Bank website
 The bank issued at apology statement
during and after the problem
 Customer reacted angrily through the
feedback system and social media

Project Background
 The project will be focused towards effective customer management in situations of
service disruptions
 The project will simultaneously focus towards providing customers with some basic bank
services even at times of disruptions in services
 The project will implement various software, ICT and other devices to provide customer
with minimal services during outages (Kumar & Reinartz, 2018)
 The project will be important as it will be focused towards gaining positive outcomes in
regards to customer satisfaction, customer service and customer retention of the bank

Goals and Objectives
 To ensure that the customers face lesser inconvenience during times of outages
 Ensure that certain emergency transaction services are available during times of outages
 To facilitate better customer management in the commonwealth bank
 To create better understanding and cooperation between commonwealth bank and the
customer

Goals and Objectives
 The principal goal will be to create effective levels of customer management
 Creating effective levels of interactions between customers and banks is a significant goal
 Increasing the credibility and effectiveness of the bank
 Creating effective customer interaction channels
 Creation of frameworks to reduce the time taken for resolving outage issues with the bank
system

Key considerations
 Customer satisfaction
 Customer management
 Product optimization
 Reduction in service resuming time
 Customer interaction

Key considerations
 The project will focus on the factors affecting customer
satisfaction
 Managing customers during times of inconvenience is a
significant concern
 The product or services offered by the bank need to be optimized
for reduction in number of issues
 Reducing the time it takes for services to return to normal has o
be considered for creating better customer experience
 Better interactions need to be formed with the customers in
order to develop effective communication (Goetsch & Davis, 2014)

Anticipated Outcomes
 Customers are able to access at least the basic transaction
services like card transaction service
 Customers are able to understand clearly the situation during
times of outages
 Customers stop facing longer periods of outages due to the
usage of better software backup facilities
 Customers are given clear instruction in regards to start and
resolution of outages (Khodakarami & Chan, 2014)

Anticipated Outcomes
 Better communication is established between bank and customers
 Customers get better performing e-services from the bank
 Better customer handling, especially during emergency situations

Conclusion
 The commonwealth bank can increase its competency towards
customer management through the successful implementation of
the project
 The significant functions of the bank will be optimized to work
more effectively
 Regular maintenance of the processes will enable the better
management of customers

References
 Kumar, V., & Reinartz, W. (2018). Customer relationship management:
Concept, strategy, and tools. Springer.
 Massive CommBank outage sparks fury. (2019). Retrieved from
https://www.news.com.au/finance/business/banking/commbank-
customers-fury-over-massive-outage/news-story/
25f6ff3f8f01d00ecfb25b3c35afe18e
 Goetsch, D. L., & Davis, S. B. (2014). Quality management for
organizational excellence. Upper Saddle River, NJ: pearson.
 Khodakarami, F., & Chan, Y. E. (2014). Exploring the role of customer
relationship management (CRM) systems in customer knowledge
creation. Information & Management, 51(1), 27-42.