Wa0003.
Wa0003.
h. SWOT Analysis 45
i. SWOT Analysis of Manish Bindal And CO 47
Introduction to CRM
But, what is CRM and how does it change the way companies do
business? The changes in the world have been so dynamic and so dramatic that
the path is not necessarily all that obvious. How CRM impacts that business path
is a continuing source of debate in the world of corporate management.
History of CRM
In the beginning…
The 1980’s saw the emergence of database marketing, which was simply
a catch phrase to define the practice of setting up customer service groups to
speak individually to all of a company’s customers. In the case of larger, key
clients it was a valuable tool for keeping the lines of communication open and
tailoring service to the clients needs. In the case of smaller clients, however, it
tended to provide repetitive, survey-like information that cluttered databases and
didn’t provide much insight. As companies began tracking database information,
they realized that the bare bones were all that was needed in most cases: what
they buy regularly, what they spend, what they do.
Today, CRM is still utilized most frequently by companies that rely heavily
on two distinct features: customer service or technology. The three sectors of
business that rely most heavily on CRM -- and use it to great advantage -- are
financial services, a variety of high tech corporations and the
telecommunications industry. The financial services industry in particular tracks
the level of client satisfaction and what customers are looking for in terms of
changes and personalized features. They also track changes in investment
habits and spending patterns as the economy shifts. Software specific to the
industry can give financial service providers truly impressive feedback in these
areas.
3. The growth in service economy. Since services are typically produced and
delivered at the same institution, it minimizes the role of the middlemen.
4. Another force driving the adoption of CRM has been the total quality
movement. When companies embraced TQM it became necessary to involve
customers and suppliers in implementing the program at all levels of the value
chain. This needed close working relationships with the customers. Thus several
companies such as Motorola, IBM, General Motors, Xerox, Ford, Toyota, etc
formed partnering relations with suppliers and customers to practice TQM. Other
programs such as JIT and MRP also made use of interdependent relationships
between suppliers and customers.
6. Emerging real time, interactive channels including e-mail, ATMs and call centre
that must be synchronized with customer’s non-electronic activities. The speed of
business change, requiring flexibility and rapid adoption to technologies.
9. On the supply side it pays more to develop closer relationships with a few
suppliers than to develop more vendors.
Definition: -
Implementing CRM:
It is enabled through:
Information
Processes
Technology
Applications
A firm that wants to implement CRM must align it's business processes
cross-functionally in the best possible way to allow increased customer focus
with an aim to deliver added value to the customer.
ANALYSIS
CUSTOMER SELECTION
CUSTOMER TARGETING
RELATIONSHIP MARKETING
PRIVACY ISSUES
METRICS
CUSTOMER
RELATIONSHIP
MANAGEMENT
SATISFACTION
CRM, in its broadest sense, means managing all interactions and business
with customers. This includes, but is not limited to, improving customer service. A
good CRM program will allow a business to acquire customers, service the
customer, increase the value of the customer to the company, retain good
customers, and determine which customers can be retained or given a higher
level of service. A good CRM program can improve customer service by
facilitating communication in several ways:
Identify how each individual customer defines quality, and then design a
service strategy for each customer based on these individual requirements
and expectations.
Provide a fast mechanism for managing and scheduling follow-up sales
calls to assess post-purchase cognitive dissonance, repurchase
probabilities, repurchase times, and repurchase frequencies.
Grading customers from very satisfied to very disappointed should help the
organization in improving its customer satisfaction levels and scores. As the
satisfaction level for each customer improves, so shall the customer retention
with the organization.
Increase Loyalty
Loyal customers are more profitable. Any company will like its mindshare
status to improve from being a suspect to being an advocate. Company has to
invest in terms of its product and service offerings to its customers. It has to
innovate and meet the very needs of its customers so that they remain as
advocates on the loyalty curve. Referral sales invariably are low cost high margin
sales.
Chapter -2
Literature Review
Company Profile:
Bindal Business
Trading Practices
Commodities
Portfolio Management Services
Personal Loans
Investment Advisory
Bindal Presence
Nation-wide network across Alwar and Gurgaon
More than 10000 Clients
MAIN ROLE
Mr. Bindal is valued for his understanding of the economy The print and
electronic media often seek his views on the market trend as well as investment
strategies.
Mr. Rajiv Phadke has actively contributed to the growth over the last four
years. Holding a major in Finance, Mr. Rajiv Phadke is a strategic thinker with
expertise in the field of corporate planning, international marketing, financial
services, brand-building, HRD and quality management.
Mr. Vinay Agrawal leads the Equity business , which comprises Business
Development, Operations, Investment E-broking services . He is actively involved
in exploring new ways to adopt technology for businesenhancement.
A Chartered Accountant by qualification, Mr. Agrawal began his career with
the bindal Group as Finance and Operations Consultant, and since then he’s
quickly climbed up the corporate ladder.
Mr. Mudit Kulshreshtha heads the advance analytics and strategic business
intelligence division at bindal and co . With a Bachelor’s degree in Engineering
and PhD in Economics, Mr. Mudit Kulshreshtha has more than 12 years
experience in the field of strategy and business consulting.
He has been associated with reputed consulting firm like Ernst and
Young, . He has advised several big clients in the Gurgaon as well as greater
noida He is also a known speaker at public seminars and conferences
Mr. Syam brings with him over 18 years of experience in the field of Transaction
Banking,. He started his career with ANZ Grindlays Bank and he was also
associated with Standard Chartered Bank in India
Mr. Shah has over 10+ years of industry experience. He has been involved in
various aspects of Business Operations in his previous assignments.
A qualified Company Secretary and an MBA in Finance, Ms. Kothari has vast
experience in business development in the financial services industry.
He had been associated with Religare Commodities, Karvy Consultants and with
BLB Ltd in the past. He has been involved in several management activities,
operations, corporate and strategic planning .
- Tax Audit: Audits required under income tax laws for businesses exceeding
prescribed turnover.
3. Taxation Services
- Income Tax Advisory and Filing: Filing income tax returns, tax planning, and
dispute resolution.
- Indirect Tax Compliance: Services related to Goods and Services Tax (GST),
including filing GST returns, managing GST refunds, and complying with GST
audits.
- Technology Adoption: Using tools like Tally, QuickBooks, SAP, and customized
CRM solutions to improve accuracy and efficiency.
These services are tailored to meet the needs of businesses across industries,
ensuring compliance, growth, and long-term financial health. If you need any
specific service explained in more detail, feel free to ask!
Successful investing in Capital Markets demands ever more time and expertise.
Investment Management is an art and a science in itself. Professional
Investment Management Services are no longer the privilege of only large
institutional investors. Portfolio Management Services (PMS) is one such service
that is fast gaining eminence as an investment avenue of choice for High Net
worth Investors like you. PMS is a sophisticated investment vehicle that offers a
range of specialized investment strategies to capitalize on opportunities in the
market. The Portfolio Management Service combined with competent fund
management, dedicated research and technology, ensures a rewarding
experience for its clients.
Margin Funding
“Margin Funding” allow you to take higher exposure on the funds as well
as unlock the value of your existing portfolio & take advantage of investment
opportunities in the market without the involvement of fresh funds. One can use
the shares in his current portfolio to make fresh purchases in the market. If
utilized prudently, this product can help unlock the value of Securities even during
depressed Stock Market conditions and provide customers with the much-needed
liquidity during pressing times.
Advantages:
Pre-Paid Brokerage
Pre-paid brokerage is one of the best schemes for customers to take the
advantages of less brokerage. Different pre-paid recharge are available with
different validity. Some characteristics of pre-paid brokerage are as follows: -
Zero account opening charges
Attractive Brokerage Rate
Free DP AMC for 1 year
Assured gifts worth thousands with every account.
Easy & Fast Recharge
Free Financial Investment Application with every account
Fundamental Analysis
Cash Flow Management: Review operational cash flows and reserves for
sustainability during downturns.
Non-Financial Analysis
Talent Development: Evaluate the firm’s ability to train and retain talent through
programs like articleship and upskilling initiatives.
Specialization Areas: Identify niche services offered, such as forensic audits,
transfer pricing, and virtual CFO services.
Reputation & Client Relationships: Examine the firm’s reputation in the market
and the strength of its relationships with long-term clients.
Strategic Positioning
Financial Snapshot: Annual revenue of ₹50 crore, with 60% from taxation
services and 40% from audits and advisory.
Client Diversity: Services offered to 25% startups, 50% MSMEs, and 25% large
enterprises.
Tech Integration: Use of AI-driven audit software and CRM tools for client
relationship management.
Talent Base: Over 100 professionals, with regular training programs to upskill
employees.
Growth Strategy: Focus on ESG reporting and virtual CFO services for startups to
tap into emerging
Team spirit – Training helps in inculcating the sense of team work, team spirit,
and inter-team collaborations. It helps in inculcating the zeal to learn within the
employees.
Quality – Training helps in improving upon the quality of work and work-life.
Healthy work-environment – Training helps in creating the healthy working
environment. It helps to build good employee, relationship so that individual
goals aligns with organizational goal.
Health and Safety – Training helps in improving the health and safety of the
organization thus preventing obsolescence.
METHODS OF TRAINING
The most widely used methods of training used by organizations are
classified into two categories: On-the-Job Training & Off-the-Job Training.
ON-THE-JOB TRAINING is given at the work place by superior in relatively short
period of time. This type of training is cheaper & less time-consuming. This
training can be imparted by basically four methods: -
Coaching is learning by doing. In this, the superior guides his sub-ordinates &
gives him/her job instructions. The superior points out the mistakes & gives
suggestions for improvement.
OFF THE JOB TRAINING is given outside the actual work place.
4. Feedback should be taken from the trainees after the training is over, so that
the organization comes to know about the deficiencies in the training program &
also suggestions to improve upon the same.
Problems at firm
]Though we successfully executed our tasks in our training, we had to face
few problems also and they are-
Client Data Sheet was not updated, most of them had been shown with
wrong information.
Most of the clients were not giving appointments and some of them did
not even talk on phone.
Many of the time when we went to meet the clients with whom
appointments was fixed, after reaching the client’s place they said we are
not available and not even interested.
A big problem was transportation, Most of the students are out of the
state and not having vehicle, We faced lot many problems to meet the
clients .
Suggestions to Improve
Introduction
SWOT-landscape analysis
Strengths:
Well-maintained infrastructure.
Weaknesses:
Less awareness in the market.
Time consuming process for account opening, resolving the
problems of the customers, etc.
Opportunities:
An indirect opportunity generated by the market from its bullishness.
Threats:
A threat of loosing clients for any kind of weakness of the firm
Continuous changes in tax and corporate laws increase the need for
frequent upskilling.
Research Methodology
Architecture of CRM
1. Operational CRM
Sales people and service engineers can access complete history of all
customer interaction with your company, regardless of the touch point.
The operational part of CRM typically involves three general areas of
business:
SFA automates some of the company's critical sales and sales force
management functions, for example, lead/account management, contact
management, quote management, forecasting, sales administration, keeping
track of customer preferences, buying habits, and demographics, as well as
performance management. SFA tools are designed to improve field sales
productivity. Key infrastructure requirements of SFA are mobile synchronization
and integrated product configuration.
CRM solutions can also be used to allow customers to perform their own
service via a variety of communication channels. For example, you might be able
to check your bank balance via your WAP phone without ever having to talk to a
person, saving money for the company, and saving your time.
2. Analytical CRM
3. Collaborative CRM
Limitations
Selection of the people who are under consideration as sample for the
study may not be the best sample selected.
Sample size was limited due to the limited period allocated for the
survey.
The selection of people to cover the various types of commodity trading
ranging from agro products to energy and metals like gold and silver was
tedious and time consuming.
Getting accurate responses from the respondents due to their inherent
Problems, personality traits and mood fluctuations was a very difficult
task.
Some respondents had to be re-contacted as per their convenience of
time.
Some of the area in which the survey is carried out was very un –
hygienic and over crowded.
Some data of customer is not proper. Like their contact number &
address.
Chapter -6
In are, which we ware given out of 800 clients we have mostly found that
they are not interested in the financial portfolio restructuring. We found
90.7% no interested and 9.3% are interested in the city.
Most of the clients invested in the IPO, Trading, Investment, future and
options and commodity markets. Out of 800 Most of the clients Interested
in trading.
Suggestion:
Firm should give focus on online customer and try to give more
information about various services and prepaid to these existing clients and
create interest among them to take advantage of these new services.
Chapter -7
BIBLIOGRAPHY
BOOK
www.sski.com
www.bseindia.com
www.nseindia.com
● www.wikipedia.com
● www.researchandmarket.com
● www.scribd.com
● www.coolavenue.com
● www.hindubusinessonline.com
● www.investopedia.com
● www.moneybhai.com
Questionnaire
3. How often does your firm communicate updates or progress to its clients?
) Weekly
B) Monthly
C) Only when required
D) Rarely
A) Yes
B) No
8. What is the average time taken to respond to client queries in your firm?
A) Within 24 hours
B) 1–3 days
C) More than 3 days
- Answer: A) Regularly
10. Does your firm segment its clients based on their needs or business sizes?
A) Yes
B) No
Answer: A) Yes
13. How much time does your firm allocate to on boarding a new client?
A) Less than a day
B) 1–3 days
C) More than 3 days
Answer: A) Yes
19. How does your firm approach building long-term trust with clients?
Answer: Our firm builds trust through consistent communication, timely delivery
of services, and personalized financial solutions. We maintain transparency in
billing and keep clients informed about their accounts.
20. Describe a situation where effective CRM helped retain a key client in your
firm.
Answer: A client was dissatisfied due to delayed communication. Through CRM
software, we tracked their concerns and set up a dedicated point of contact,
addressing their issues promptly. This improved their confidence in our services,
leading to client retention.
21. What improvements would you recommend to enhance CRM practices in your
firm?
22. How do you ensure that client feedback is integrated into your firm's
processes?
23. In your opinion, what are the three most important features of a good CRM
system for CA firms?
Answer: The most important features are client communication tracking, data
security, and workflow automation.
24. What role does technology play in managing client relationships effectively in
your firm?
25. How do you prioritize communication with clients during peak tax filing or
audit seasons?