0% found this document useful (0 votes)
70 views57 pages

Wa0003.

Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
0% found this document useful (0 votes)
70 views57 pages

Wa0003.

Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 57

INDEX

Particular Page No.


1. Chapter -1 Introduction of the CRM 6
2. Chapter -2 Literature Review 16
a. Training 38
b. Importance & Needs of Training 39
c. Types of Training
d. Methods of Training 41
e. Recommendation & Conclusion 42
f. Problems Faced at the Time of Training 43
g. Suggestions to Improve 44

3(A)- Chapter -3 Research Methodology

3(B)- Industry Analysis

h. SWOT Analysis 45
i. SWOT Analysis of Manish Bindal And CO 47

4.Chapter -4 Data Analysis And Interpretation 48


5.Chapter -5 Findings And Suggestions 71
6.Chapter -6 Bibliography 73
7. Chapter -7 Questionnaire 77
Chapter -1

Introduction to CRM

Before we begin to examine the conceptual foundations of CRM, it will be


useful to define, what is CRM? A narrow perspective of customer relationship
management is database marketing emphasizing the promotional aspects of
marketing linked to database efforts. Another narrow, yet relevant, viewpoint is to
consider CRM only as customer retention in which a variety of after marketing
tactics is used for customer bonding or staying in touch after the sale is made. It
define relationship marketing as “an integrated effort to identify, maintain, and
build up a network with individuals consumers and to continuously strengthen
the network for mutual benefit of both sides, through interactive, individualized
and value-added contacts over a period of time”. The core theme of all CRM and
relationship marketing perspectives is its focus on co-operative and collaborative
relationships between the firm and its customers, and/or other marketing actors.

CRM is based on the premise that, by having a better understanding of the


customers’ needs and desires we can keep them longer and sell more to them.

Growth Strategies International (GSI) performed a statistical analysis of


Customer satisfaction data encompassing the findings of over 7,000+ customer
surveys conducted by Angel Broking Ltd.

CRM (customer relationship management) is an information industry term


for methodologies, software, and usually Internet capabilities that help an
enterprise manage customer relationships in an organized way. For example, an
enterprise might build a database about its customers that described
relationships in sufficient detail so that management, salespeople, people
providing service, and perhaps the customer directly could access information,
match customer needs with product plans and offerings, remind customers of
service requirements, know what other products a customer had purchased, and
so forth.

The essence of the information technology revolution and, in particular,


the World Wide Web is the opportunity to build better relationships with
customers than has been previously possible in the offline world. By combining
the abilities to respond directly to customer requests and to provide the customer
with a highly interactive, customized experience, companies have a greater ability
today to establish, nurture, and sustain long-term customer relationships than
ever before. The ultimate goal is to transform these relationships into greater
profitability by increasing repeat purchase rates and reducing customer
acquisition costs. Indeed, this revolution in customer relationship management or
CRM.1 as it is called, has been referred to as the new “mantra” of marketing.2
Companies like Siebel, E.piphany, Oracle, Broadvision, Net Perceptions, Kana and
others have filled this CRM space with products that do everything from track
customer behavior on the Web to predicting their future moves to sending direct e-
mail communications. This has created a worldwide market for CRM products
and services of $34 billion in 1999 and which is forecasted by IDC to grow to
$125 billion by 2004.3 The need to better understand customer behavior and
focus on those customers who can deliver long-term profits has changed how
marketers view the world.

Traditionally, marketers have been trained to acquire customers, either new


ones
who have not bought the product category before or those who are currently
competitors’ customers. This has required heavy doses of mass advertising and
price-oriented promotions to customers and channel members. Today, the tone of
the conversation has changed from customer acquisition to retention. This
requires a different mindset and a 3 different and new set of tools. A good
thought experiment for an executive audience is to ask them how much they
spend and/or focus on acquisition versus retention activities.

While it is difficult to perfectly distinguish the two activities from each


other, the answer is usually that acquisition dominates retention.

According to one industry view, CRM consists of:

Helping an enterprise to enable its marketing departments to identify and


target their best customers, manage marketing campaigns with clear
goals and objectives, and generate quality leads for the sales team.

Assisting the organization to improve telesales, account, and sales


management by optimizing information shared by multiple employees,
and streamlining existing processes (for example, taking orders using
mobile devices)

Allowing the formation of individualized relationships with customers,


with the aimof improving customer satisfaction and maximizing profits;
identifying the most profitable customers and providing them the highest
level of service.
Providing employees with the information and processes necessary to
know their customers, understand their needs, and effectively build
relationships between the company, its customer base, and distribution
partners.

CRM--Customer Relationship Management--has entered the mainstream.


Despite the uncertainty of the economy, CRM is being thrust into corporate
budgets and talked about as a critical initiative by hundreds of Fortune 1,000 and
tens of thousands of other companies. It has gone from being an important edge
in the business world to a necessary tool for survival. The notion of the customer
as king or queen is once again the rule. How you treat this is a mission-critical
business issue.

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.

Managing relationships with customers has become a critical


organizational competency. Get winning strategies for acquiring and retaining
customers by leveraging the latest advanced technologies. This course will teach
you how to select the right tools for your business-- so it can grow today--and on
into the future. Lagging means lost customers, which means damage to the
bottom line. But how do you not lag when customers are moving lightning fast to
demand constant changes in the speed to complete their transactions? How do
you keep your customers when the move to another company is nothing more
than a mouse click and a minute away?

CRM is the answer. Customer Relationship Management, a strategy that


leverages very advanced technologies is the way to cut to the 21st Century
business class .

History of CRM

Customer Relationship Management (CRM) is one of those magnificent concepts


that swept the business world in the 1990’s with the promise of forever changing
the way businesses small and large interacted with their customer bases. In the
short term, however, it proved to be an unwieldy process that was better in theory
than in practice for a variety of reasons. First among these was that it was
simply so difficult and expensive to track and keep the high volume of records
needed accurately and constantly update them. In the last several years, however,
newer software systems and advanced tracking features have vastly improved
CRM capabilities and the real promise of CRM is becoming a reality. As the price
of newer, more customizable Internet solutions have hit the marketplace;
competition has driven the prices down so that even relatively small businesses
are reaping the benefits of some custom CRM programs.

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.

Advances in the 1990’s

In the 1990’s companies began to improve on Customer Relationship


Management by making it more of a two-way street. Instead of simply gathering
data for their own use, they began giving back to their customers not only in
terms of the obvious goal of improved customer service, but in incentives, gifts
and other perks for customer loyalty. This was the beginning of the now familiar
frequent flyer programs, bonus points on credit cards and a host of other
resources that are based on CRM tracking 3333 customer activity and spending
patterns. CRM was now being used as a way to increase sales passively as well
as through active improvement of customer service.

Real Customer Relationship Management as it’s thought of today really


began in earnest in the early years of this century. As software companies began
releasing newer, more advanced solutions that were customizable across
industries, it became feasible to really use the information in a dynamic way.
Instead of feeding information into a static database for future reference, CRM
became a way to continuously update understanding of customer needs and
behavior. Branching of information, sub-folders, and custom tailored features
enabled companies to break down information into smaller subsets so that they
could evaluate not only concrete statistics, but information on the motivation and
reactions of customers. The Internet provided a huge boon to the development of
these huge databases by enabling offsite information storage, where before
companies had difficulty supporting the enormous amounts of information. The
Internet provided new possibilities and CRM took off as providers began moving
toward Internet solutions. With the increased fluidity of these programs came a
less rigid relationship between sales, customer service and marketing.
CRM enabled the development of new strategies for more cooperative work
between these different divisions through shared information and understanding,
leading to increased customer satisfaction from order to end product.

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.

In recent years however, several factors have contributed to the rapid


development and evolution of CRM. These include: -

1. The growing de-intermediation process in many industries due to the advent


of sophisticated computer and telecommunication technologies that allow
producers to directly interact with end-customers. For example, in many
industries such as airlines, banks insurance, software or household appliances
and even consumables, the de-intermediation process is fast changing the nature
of marketing and consequently making relationship marketing more popular.
Databases and direct marketing tools give them the means to individualize their
marketing efforts.

2. Advances in information technology, networking and manufacturing


technology have helped companies to quickly match competition. As a result
product quality and cost are no longer significant competitive advantages.

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.

5. Customer expectations are changing almost on a daily basis. Newly


empowered customers, who choose, how to communicate with the companies’
various available channels? Also nowadays consumers expect a high degree of
personalization.

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.

7. In the current era of hyper competition, marketers are forced to be more


concerned with customer retention and customer loyalty.

8. As several researches have found out retaining customers is less expensive


and more sustainable competitive advantage than acquiring new ones.

9. On the supply side it pays more to develop closer relationships with a few
suppliers than to develop more vendors.

10. The globalization of world marketplace makes it necessary to have global


account management for the customers.

Definition: -

“CRM is concerned with creating improved shareholder value through the


use of customer centric business processes and the development of appropriate
relationships with consumers.”

Implementing CRM:

CRM requires an integration of a firm's resources; people, operations and


marketing capabilities to deliver added value to the customers. CRM should
provide businesses and organizations with a ‘single view’ of their customers and
across irrespective of the interactive channel or medium through which the
customer accesses the service or product. For example, a business (e.g. hotel)
customer’s profile and personal references should be accessible to the business
(or hotel) irrespective of channel i.e. whether the customer books online, calls in
or walks into any location should not make a difference to the service provided
based on the personal profile of the business client.

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.

To implement CRM, the following steps must be followed:

Develop a CRM framework


Align current business processes
Design new cross-functional business processes (where required)
Develop Functional Specifications (client-side services)
Develop Technical Specifications
Match Technical Specifications to available technology (Systems,
software, etc)
Product Configuration
Data Migration and Integration
Staff Training

Customer Segmentation: For CRM to be effective, the organization’s customer


base must be stratified into segments based on commonalities amongst groups’
of individuals and customers. This also requires the organization to have
strategies to target consolidated customer segments.

Reduced Cost of Service: a customer relationship strategy should reduce


the cost of service for both the organization and it’s customers and
increase satisfaction levels.

Service as a differentiator: The more competitive a market becomes the


more a business will need to rely on its superior product quality and
quality of service to differentiate itself from other businesses and
providers.

Tie-in’s over time: The greater the effort a customer spends on a


relationship over time, the greater the customer’s stake in helping to ensure
that the relationship works and the more convenient and loyal the
customer becomes.
Pitfalls to avoid:

Many CRM programs fail for two reasons:

1. Lack of supportive business processes: Because business processes and


organizational goals are not part of a strategic CRM plan tied to
organizational goals and objectives.

2. Lack of an enterprise perspective: For Relationship Marketing to be


effective, it requires that the organization creates a seamless enterprise
view. A lot of CRM programs fail because they are assembled with
disparate components that aren't designed to work together as part of a
complete CRM system designed to meet organizational objectives.

3. Customer Relationship Management Model

CREATE A DATA BASE

ANALYSIS

CUSTOMER SELECTION
CUSTOMER TARGETING

RELATIONSHIP MARKETING

PRIVACY ISSUES

METRICS

Customer Retention Programs


FREQUENCY/
LOYALTY
PROGRAMS
REWARDS CUSTOMER COMMUNITY
PROGRAMS SERVICE CUSTOMIZATION BUILDING

CUSTOMER
RELATIONSHIP
MANAGEMENT
SATISFACTION

Objective of the study of CRM

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:

Provide product information, product use information, and technical


assistance on web sites that are accessible 24 hours a day, 7 days a week

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.

Provide a mechanism to track all points of contact between a customer


and the company, and do it in an integrated way so that all sources and
types of contact are included, and all users of the system see the same
view of the customer (reduces confusion).

Help to identify potential problems quickly, before customer occur

Provide a user-friendly mechanism for registering customer complaints


(complaints that are not registered with the company cannot be resolved,
and are a major source of customer dissatisfaction).

Provide a fast mechanism for handling problems and complaints


(complaints that are resolved quickly can increase customer satisfaction).
Provide a fast mechanism for correcting service deficiencies (correct the
problem before other customers experience the same dissatisfaction).

Use internet cookies to track customer interests and personalize product


offerings accordingly

Use the Internet to engage in collaborative customization or real-time


customization

Provide a fast mechanism for managing and scheduling maintenance,


repair, and ongoing support (improve efficiency and effectiveness)

Mechanism to evaluate Potential KOMs.


To develop integrated Database.
Assessing the need of Potential KOMs.
Ways to meet those needs.
Identify the softer elements.
Devising a way to Retain and grow with those KOMs.
Moving further ahead Satisfaction Delightment LOYALITY
To develop Strategy and action plan on quarter & annual basis.
To gain knowledge about consumer behaviour
To know, how to maintain relationship with customer?
To know, the needs analysis of customer
To understand, with the help of feedback form that why customers are
not trading with Angel
To know, the customer perception about company’s products & services
To know, the grievances among the customers about products & services
The CRM program can be integrated into other cross-functional systems
and thereby provide accounting and production information to customers when
they want it.

Keeping Existing Customers

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.

Maximizing Life time value

Exploit up-selling and cross-selling potential. By identifying life stage and


life event trigger points by customer, marketers can maximize share of purchase
potential. Thus the single adults shall require a new car stereo and as he grows
into a married couple his needs grow into appliances.

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:

Manish Bindal and co is one of the leading and professionally firm


involved in quality services and research..
The membership of the company with The CA firm Alwar was originally in
the name of Manish Bindal , which was eventually turned into a corporate
membership in the name of Manish Bindal and Co .
The group is well supported by a professional and qualified research team
and efficient operations and back office team, which comprises of highly
dedicated and qualified individuals. It has an research department.
They believes in reaching out to the customer at the farthest end rather
than by reaching out to them. The Firm in its Endeavour to give its client the best
has opened up several branches all over Alwar and Gurgaon
Angel has empowered its physical presence throughout India through
various strategies which it has been adopting efficiently and effectively over a
period of time, like opening up of branches at various places, tie-ups with various
agencies.
Moreover, Manish Bindal Ltd. has been tapping and including high net-
worth and self-employed individuals to its vast array of clients.
It has always strived in the direction of delivering ultimate client
satisfaction and developing stronger bonds with its customers and chose
partners. They have an vision to introduce new and innovative products and
services regularly. Moreover It has been one among the pioneers to introduce the
latest technological innovations and integrate it efficiently within its business.

Manish Bindal Ltd tryst with excellence in customer relations began in


1987. Today, It has emerged as one of the most respected firm in Alwar . With its
unique retail-focused stock trading business model, It is committed to providing
‘Real Value for Money’toallitsclients.

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. Bindal - Director


Mr. Manish Bindal is the motivating force behind it highly acclaimed
Research team.. His technical and fundamental outlook has provided impetus to
Bindal market research team. Research-based & personalized advisory services,
Mr. Manish Bindal has undoubtedly been the brain behind it.

When it comes to analyzing the market, Mr. Manish Bindal is truly a


genius. His hands-on experience and fundamental knowledge of the market can
predict the market trend early. His views on the market trend are often quoted as
the genius .

Mr. Amit Majumdar second director Officer

A chartered Accountant by qualification, Mr. Amit Majumdar is a key


member of bindal strategic decision-making process. He has been with the group
since August 2006 . He has handled several functions of the firm like finance and
operations, to name a few. He has rich experience in finance, investment banking,
treasury, consultancy and advisory services.
Mr. Majumdar has led many successful initiatives for the group. Before
joining the bindal Group, Mr. Majumdar has been associated with Rabo India
Finance, Ambit Corporate Finance and Ernst & Young.
Mr. Rajiv Phadke External manager

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.

With over 10 + years of experience, Mr. Phadke has successfully led


financial companies from concept to commissioning. His career horizon spans
Motilal Oswal Securities, Times Guaranty Financials, He is also a well-known
speaker in the HR and business development circuit and his views are featured
on various electronic media as well.

Mr. Vinay Agrawal Executive Director

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. Santanu Syam Executive Director Bindal and co

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

Ketan Shah Associate Director


IT is a strategic function at bindal . And Mr. Ketan Shah is involved in the
designing of firm policies and Strategies. Mr. Shah leads all IT-related activities
from planning and budgeting to implementation and maintenance.

Mr. Shah has over 10+ years of industry experience. He has been involved in
various aspects of Business Operations in his previous assignments.

Ms. Pinky Kothari Associate Director - Sales And Marketing

Ms. Pinky Kothari is responsible for development and expansion of the


Angel Group’s business in northermn India. She started her career at O LED as
Business Development manager

A qualified Company Secretary and an MBA in Finance, Ms. Kothari has vast
experience in business development in the financial services industry.

Mr. Naveen Mathur Associate Director – Commodities Business


A CFA of 1997, Mr. Mathur holds a Post Graduation degree in Financial
Management and Business Finance. He brings with him over 8 years of
experience in the financial markets.

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 .

Products and Services :

A Chartered Accountancy (CA) firm provides a wide range of products and


services catering to businesses, individuals, and organizations. These services
can be broadly categorized into *accounting, **audit, **taxation, **compliance,
**advisory, and **financial planning*. Below is a detailed explanation of the
products and services offered by CA firms

Accounting and book keeping services : -

1. Accounting and Bookkeeping Services


General Accounting: Recording financial transactions, preparing ledgers, and
maintaining balance sheets and profit & loss statements.

- Payroll Processing: Managing employee payroll, statutory deductions like


Provident Fund (PF) and Employee State Insurance (ESI), and compliance with
labor laws.

- Management Accounting: Preparing management reports, including cost


analysis, budgetary controls, and variance analysis.
- Preparation of Financial Statements: Annual financial statements for business
owners, shareholders, or regulatory filings.

Auto pay-in of shares & Online Securities Pay-Out

Instant transfer of fund & Online Funds pay-out request

Highly secure and confidential

2. Auditing and Assurance Services

- Statutory Audit: Mandatory audits under company law or other statutory


regulations.

- Tax Audit: Audits required under income tax laws for businesses exceeding
prescribed turnover.

- Internal Audit: Regular audits to improve internal controls, governance, and


risk management.
-Forensic Audit: Investigating frauds, financial irregularities, or discrepancies.

- Stock Audit: Verification and valuation of inventory and stock holdings.


-Due Diligence Audit: Examination of financial records before mergers,
acquisitions, or investments.

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.

- Tax Litigation Support: Representing clients before tax authorities in disputes


or appeals.

- Transfer Pricing: Managing compliance related to international transactions


and ensuring arms-length pricing between related entities.

4. Corporate Law and Secretarial Services


- Company Incorporation: Assisting with registration of companies, Limited
Liability Partnerships (LLPs), and other entities.
- Corporate Compliance: Filing annual returns with the Registrar of Companies
(ROC), board meeting compliance, and maintaining statutory registers

- Winding Up and Closure Services: Guidance for liquidation and closure of


businesses.

- Advice on Corporate Governance: Ensuring adherence to regulatory and ethical


practices.

5. Financial Advisory Services


Business Valuation: Estimating the value of businesses for mergers,
acquisitions, or investments.

Project Financing: Assisting in preparing project reports and obtaining bank


financing.

Wealth Management: Planning and managing investments, including equity,


mutual funds, or other financial instruments.

-Risk Management: Identifying, evaluating, and mitigating financial risks in


operations.

6. GST and Indirect Tax Services


-GST Registration: Helping businesses get registered under the GST Act.

- GST Compliance: Filing returns, reconciliation, and advising on input tax


credits.

Customs and Excise Support: Assisting with compliance related to customs


duty, excise duty, and import/export regulations.

7. Outsourced Accounting Services: Acting as an extended accounting


department for businesses.

Payroll Outsourcing: Managing end-to-end payroll processes.

- Compliance Outsourcing: Handling periodic filings with tax and corporate


regulators.
8. Startup and SME Support
- Startup Registration: Registering businesses under schemes like Startup India.

- Fundraising Assistance: Advisory on raising seed capital, venture funding, or


loans.

MSME Compliance: Filing and obtaining benefits under MSME schemes.

9. Investment and Financial Planning


- Tax-Saving Investments: Advising on tax-efficient investment strategies.

- Retirement Planning: Structuring financial plans for long-term retirement


benefits.

- Debt Management: Assisting individuals and firms in managing and


restructuring debt

10. Advisory and Consulting Services


Mergers and Acquisitions (M&A): Advising on mergers, acquisitions, and
restructuring deals.

-Business Strategy: Helping organizations formulate growth strategies and


optimize financial performance.

- Succession Planning: Structuring the smooth transfer of business ownership.

11. Specialized Services- Non-Resident Indian (NRI) Services: Advising on NRI


taxation, investments, and remittances.
- International Taxation: Managing cross-border transactions, tax treaties, and
compliance.

- ESG Reporting: Guiding businesses in environmental, social, and governance


reporting.

-Litigation Support: Providing expert witness services in legal disputes related


to financial matters.
12. Insolvency and Bankruptcy Services
Insolvency Advisory: Assisting businesses under the Insolvency and Bankruptcy
Code (IBC).

Resolution Plan : Preparing plans for restructuring or liquidation.

Value Addition by BINDAL CA Firms


- Client Relationship Management (CRM): Ensuring consistent engagement with
clients through CRM tools.

- Continuous Education: Training clients on tax law changes and compliance


updates.

- 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!

Portfolio management guiding service

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.

Knowledge About Margin Funding and prepaid brokerage

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:

Provide instant liquidity without having to sell your Securities.


Allow you to grab investment opportunities instantly without any need to
pay first.
Leverage your funds available for investments.
Benefits like bonuses and dividends continue to accrue to the borrower.
Any appreciation in the value of the Securities given as margin would
automatically allow enhancement in drawing power.
Interest calculated on the amount utilized & the time for which it is
utilized.

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

Quality Assurance by Bindal and co

improvement and learning

People and Partners-Respect, challenge, growth

Tasks for continuous improvement

Philosophy-Long term thinking

Fundamental Analysis

Conducting a fundamental analysis of a Chartered Accountancy (CA) firm


involves evaluating its financial and non-financial aspects to assess its overall
performance, capabilities, and growth potential. Below is an example framework
for such an analysis based on insights from Indian CA firms:
1. Financial Analysis
Revenue Streams: Analyze the firm's income from various services such as audit,
taxation, advisory, and compliance services.

Client Base: Evaluate the diversification of clients (startups, MSMEs, large


corporations, and individuals) and dependency on top clients.Profitability
Metrics: Measure profitability through profit margins, cost efficiency, and
utilization rates of human resources.

Cash Flow Management: Review operational cash flows and reserves for
sustainability during downturns.

Investment in Technology: Assess spending on technological upgrades such as


accounting software, analytics tools, and AI for service automation

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.

Technological Adaptation: Assess the use of digital tools for enhancing


efficiency and providing value-added services.

Strategic Positioning

Competitive Edge: Highlight the firm's USP, such as expertise in high-growth


sectors (e.g., startups or international taxation).
Geographical Reach: Determine whether the firm operates locally, nationally, or
globally.

Future Outlook: Consider opportunities in growing areas like ESG compliance,


digital taxation, and financial analytics.

Example Case Study of a Hypothetical CA Firm

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

This structured analysis helps in understanding the CA firm's current standing


and future growth potential in a competitive market

Training at Manish Bindal and CO


A training program can serve a range of diverse purposes, and
organizations initiate training programs for many different reasons. One of the
strongest need of training is to respond to challenges presented by new
technology. Customer Relationship Management training at Manish
bindal .helped us to meet the challenges in current market scenario. We came to
know about maintaining long lasting customer relationship, Different
departments at firm and the way they execute their tasks, Research and Advisory,
Wealth management services, Value added services and healthy
discussions ,Which are as follows in detail:

Importance & Needs of Training at Manish Bindaal and CO

Optimum Utilization of Human Resources – Training helps in optimizing the


utilization of human resource that further helps the employee to achieve the
organizational goals as well as their individual goals.

Development of Human Resources – Training helps to provide an opportunity


and broad structure for the development of human resources’ technical and
behavioral skills in an organization. It also helps the employees in attaining
personal growth.

Development of skills of employees – Training helps in increasing the job


knowledge and skills of employees at each level. It helps to expand the horizons
of human intellect and an overall personality of the employees.

Productivity – Training helps in increasing the productivity of the employees that


helps the organization further to achieve its long-term goal.

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.

Organization Culture – Training helps to develop and improve the organizational


health culture and effectiveness. It helps in creating the learning culture within
the organization.

Organization Climate – Training helps building the positive perception and


feeling about the organization. The employees get these feelings from leaders,
subordinates, and peers.

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.

Morale – Training helps in improving the morale of the work force.

Image – Training helps in creating a better corporate image.

Profitability – Training leads to improved profitability and more positive attitudes


towards profit orientation.

Training aids in organizational development i.e. Organization gets more


effective decision making and problem solving. It helps in understanding and
carrying out organizational policies.

Training helps in developing leadership skills, motivation, loyalty, better


attitudes, and other aspects that successful workers and managers usually
display.

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.

Lectures/Conferences:- This approach is well adapted to convey specific


information, rules, procedures or methods. This method is useful, where the
information is to be shared among a large number of trainees. The cost per
trainee is low in this method.
Video Clips can provide information & explicitly demonstrate skills that are not
easily presented by other techniques. Motion pictures are often used in
conjunction with Conference, discussions to clarify & amplify those points that
the film emphasized.
Cases: - present an in depth description of a particular problem an employee
might encounter on the job. The employee attempts to find and analyze the
problem, evaluate alternative courses of action & decide what course of action
would be most satisfactory.

Experiential Exercises: - are usually short, structured learning experiences where


individuals learn by doing. For instance, rather than talking about inter-personal
conflicts & how to deal with them, an experiential exercise could be used to create
a conflict situation where employees have to experience a conflict personally &
work out its solutions.
Vestibule Training: - Employees learn their jobs on the equipment they will be
using, but the training is conducted away from the actual work floor. While
expensive, Vestibule training allows employees to get a full feel for doing task
without real world pressures. Additionally, it minimizes the problem of
transferring learning to the job.

Management Games: - The game is devised on a model of a business situation.


The trainees are divided into groups who represent the management of
competing companies. They make decisions just like these are made in real-life
situations. Decisions made by the groups are evaluated & the likely implications
of the decisions are fed back to the groups. The game goes on in several rounds
to take the time dimension into account.
RECOMMENDATIONS & CONCLUSION

No doubt Training is a very powerful tool for the smooth functioning of


the organization, but it needs to be used with care in order to derive all the
benefits. Here are seven recommendations for getting the best out of this tool: -
1. Learn about the needs and proficiency of each and every employee before an
organization invests its effort, time & money on training. Its better to identify the
needs & shortcomings in an employee before actually imparting training to him/
her.
2. Experienced & skilled trainer, who possesses good amount of knowledge &
understanding about the organization's objectives, individual abilities & the
present environment, should give training.

3. Active participation from the trainees should be encouraged. There should be a


two-way communication between the trainer & trainee.

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.

5. Focus of training should be on priority development needs and to produce


strong motivation to bring change in employees.
6. The cost incurred on the training program should not exceed its benefits.

7. The method or type of training should be very cautiously selected by the


organization depending upon the organizations' resources & an employee's
individual need for training.
Thus, training is a vital tool to cope up with the changing needs &
technologies, & ever-changing environment. It benefits both the organization as
well as the employees

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 .

Variable strategy to execute the tasks

Wastage of time because of a poor time management by Firm

Suggestions to Improve

There should be a fixed strategy for CA training.

Team work should be there.

Data should be up to date, so that we can save the time.

Participation should be there.

We should utilize every second.

The strict Procedure of company was not prope


SWOT Analysis

Introduction

SWOT Analysis is a strategic planning method used to evaluate


the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in
a business venture. It involves specifying the objective of the business venture or
project and identifying the internal and external factors that are favorable and
unfavorable to achieving that objective.
A SWOT analysis must first start with defining a desired end state or
objective. A SWOT analysis may be incorporated into the strategic planning
model. An example of a strategic planning technique that incorporates an
objective-driven SWOT analysis is Strategic Creative Analysis (SCAN). Strategic
Planning, including SWOT and SCAN analysis, has been the subject of much
research.
Strengths: attributes of the person or company that are helpful to
achieving the objective.
Weaknesses: attributes of the person or company that are
harmful to achieving the objective.
Opportunities: external conditions that are helpful to achieving
the objective.
Threats: external conditions which could do damage to the
business's performance.

Identification of SWOT is essential because subsequent steps in the


process of planning for achievement of the selected objective may be
derived from the SWOT. First, the decision makers have to determine whether
the objective is attainable, given the SWOT. If the objective is NOT attainable
a different objective must be selected and the process repeated.
The SWOT analysis is often used in academia to highlight and identify
strengths, weaknesses, opportunities and threats. It is particularly helpful
in identifying areas for development.
Use of SWOT Analysis

The usefulness of SWOT analysis is not limited to profit-seeking


organizations. SWOT analysis may be used in any decision-making
situation when a desired end-state (objective) has been defined. Examples
include: non-profit organizations, governmental units, and individuals.
SWOT analysis may also be used in pre-crisis planning and
preventive crisis management. SWOT analysis may also be used in
creating a recommendation during a viability study.

SWOT-landscape analysis

The SWOT-landscape grabs different managerial situations by visualizing


and foreseeing the dynamic performance of comparable objects according to
findings by Brendan Kitts, Leif Edvinsson and Tord Beding (2000).
Changes in relative performance are continuously identified. Projects (or
other units of measurements) that could be potential risk or opportunity objects
are highlighted.
SWOT-landscape also indicates which underlying strength/weakness
factors that have had or likely will have highest influence in the context of value
in use
SWOT Analysis of Manish bindal ltd.
During this training at Manish bindal LTD, we had come to know the
Strengths Weaknesses – Opportunities – Threats for the company and it is very
useful for a company to analyze them. Therefore, the SWOT analysis is
presented here and the suggestions for maintaining strengths and removing
weaknesses are explained.

Strengths:

Well-maintained infrastructure.

Dedicated, Intelligent and Loyal staff.

On-line Trading products.

The best investment advice correct up to 70-90 % through


dedicated

Research and reports.

Wide product range to enable the clients to choose the best


alternative.

A positive image in the existing clients.

Large retail customer base

management information system is quite good as compare to


competitors

Weaknesses:
Less awareness in the market.
Time consuming process for account opening, resolving the
problems of the customers, etc.

Service quality is not maintained accordingly how they are promoted.

Concentrate more on HNI (High Net-worth Individual) client

all branches are not working in a synchronized way

Opportunities:
An indirect opportunity generated by the market from its bullishness.

Growth in compliance requirements like GST, TDS, transfer pricing,


and ESG reporting.Adoption of technology for digital audits, virtual
CFO services, and automation in financial reporting.

Rising demand for advisory services in sustainability compliance


and ESG frameworks.

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.

Threat from automated tax filing systems and AI-driven financial


tools reducing manual interventions
Chapter -3

Research Methodology

Research Methodology for CRM

Meeting and satisfying each customer’s need uniquely and individually. In


the mass markets individualized information on customers is now possible at
low costs due to the rapid development in the information technology and due to
availability of scalable data warehouses and data mining products. By using
online information and databases on individual customer interactions, marketers
aim to fulfill the unique needs of each mass-market customer. Information on
individual customers is utilized to develop frequency marketing, interactive
marketing, and after marketing programs in order to develop relationship with
high-yielding customers. In the context of business-to-business markets,
individual marketing has been in place
of quite sometime. Known as Key Account Management Program, here marketers
appoint customer teams to husband the company resources according to
individual customer needs.

Continuity Marketing Programs

Take the shape of membership and loyalty card programs where


customers are often rewarded for their member and loyalty relationships with the
marketers. The basic premise of continuity marketing programs is to retain
customers and increase loyalty through long-term special services that has a
potential to increase mutual value through learning about each other.
Partnering Programs

The third type of CRM programs is partnering relationships between


customer and marketers to serve end user needs. In the mass markets, two types
of partnering programs are most common: Co-branding and affinity partnering.
Missing process of CRM Traditionally customer relationship management (CRM)
revolves around the three functions of selling, marketing and support. Various
process models have been built around how these functions are integrated and
operated in a customer oriented enterprise. There is however a fourth critical
function that is lacking in most CRM models.
The fourth function that often is the source of a competitive edge is that
of innovation. Companies must continually reinvent themselves to deliver an
improved and often a totally new value offering to their customer base. CRM
must provide the customer intelligence that feeds information back into the
enterprise’s knowledge management processes where it can trigger new
innovation processes. When CRM is integrated into the innovation process,
significant value can be derived from faster time to market cycle times and with
new processes and services. Marketing automation must ensure that the
innovation processes are actually market driven. A market driven innovation
process must include both strategies that are focused on satisfying customer
requirements as well as strategies focused at redefining customer requirements.
Sales automation should be integrated with the innovation process by ensuring
that all sales channels are prepared and ready to take new processes and
services to market before competitive forces can react. Customer service
automation must be designed to empower the customer with the option of
assisting with the design of the value offering. Redefining CRM around
innovation, sales, marketing and service can identify new competitive
opportunities for an enterprise. The remaining question is whether companies are
prepared to take the initiative and expand the definition of customer relationship
management to include the process of innovation. The pressure to deliver results
within the traditional definition of CRM already overwhelms companies. The
dialog must start rather earlier than later because the competitive window of
traditional CRM is decreasing and customer demands for a more innovative and
responsive enterprise will increase

Architecture of CRM

There are three parts of application architecture of CRM:

1. Operational - automation to the basic business processes (marketing,


sales, service)
2. Analytical - support to analyze customer behavior, implements business
intelligence aliketechnology
3. Collaborative - ensures the contact with customers (phone, email, fax,
web, SMS, post, in person)

1. Operational CRM

Operational CRM means supporting the "front office" business processes,


which include customer contact (sales, marketing and service). Tasks resulting
from these processes are forwarded to resources responsible for them, as well as
the information necessary for carrying out the tasks and interfaces to back-end
applications are being provided and activities with customers are being
documented for further reference. Operational CRM provides the following
benefits:

Delivers personalized and efficient marketing, sales, and service through


multi-channel collaboration

Enables a 360-degree view of your customer while you are interacting


with them

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:

Sales force automation (SFA)

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.

Customer service and support (CSS)

CSS automates some service requests, complaints, product returns, and


information requests.
Traditional internal help desk and traditional inbound call-center support for
customer inquiries are now evolved into the "customer interaction center" (CIC),
using multiple channels (Web, phone/fax, face-to-face, kiosk, etc). Key
infrastructure requirements of CSS include computer telephony integration (CTI)
which provides high volume processing capability, and reliability.
Enterprise marketing automation (EMA)

EMA provides information about the business environment, including


competitors, industry trends, and macro-environmental variables. It is the
execution side of campaign and lead management. The intent of EMA
applications is to improve marketing campaign efficiencies. Functions include
demographic analysis, variable segmentation, and predictive modeling occurs on
the analytical (Business Intelligence) side.

Integrated CRM software is often also known as "front office solutions."


This is because they deal directly with the customer. Many call centers use CRM
software to store all of their customer's details. When a customer calls, the
system can be used to retrieve and store information relevant to the customer. By
serving the customer quickly and efficiently, and also keeping all information of a
customer in one place, a company aims to make cost savings, and also
encourage new customers.

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

In analytical CRM, data gathered within operational CRM and/or other


sources are analyzed to segment customers or to identify potential to enhance
client relationship. Customer analysis typically can lead to targeted campaigns to
increase share of customer's wallet. Examples of Campaigns directed towards
customers are:

Acquisition: Cross-sell, up-sell


Retention: Retaining customers who leave due to maturity or attrition.
Information: Providing timely and regular information to customers.
Modification: Altering details of the transactional nature of the
customers' relationship.
Analysis typically covers but is not limited to:
Decision support: Dashboards, reporting, metrics, performance etc.
Predictive modeling of customer attributes
Strategy and Research Analysis of Customer data may relate to one or
more of the following analyses:
Contact channel optimization
Contact Optimization
Customer Acquisition / Reactivation / Retention
Customer Segmentation
Customer Satisfaction Measurement / Increase
Sales Coverage Optimization
Fraud Detection and analysis
Financial Forecasts
Pricing Optimization
Product Development
Program Evaluation
Risk Assessment and Management

Data collection and analysis is viewed as a continuing and iterative


process. Ideally, business decisions are refined over time, based on feedback
from earlier analysis and decisions. Therefore, most successful analytical CRM
projects take advantage of a data warehouse to provide suitable data. Business
Intelligence is a related discipline offering some more functionality as separate
application software.

3. Collaborative CRM

Collaborative CRM facilitates interactions with customers through all


channels (personal, letter, fax, phone, web, e-mail) and supports co-ordination of
employee teams and channels. It is a solution that brings people, processes and
data together so companies can better serve and retain their customers. The
data/activities can be structured, unstructured, conversational and/or
transactional in nature.

Collaborative CRM provides the following benefits:

Enable efficient productive customer interactions across all


communications channels
Enables web collaboration to reduce customer service costs
Integrates call centers enabling multi-channel personal customer
interaction
Integrates view of the customer while interaction at the transaction level
Chapter -5

Limitations

Definition of perfection differs from individuals to individuals. No matter how


meticulous one is, the study that is completely based on responses from a vast
variety of people cannot be free from limitations. Though the present study
aimed to achieve the above-mentioned objectives in full earnest and accuracy, it
was hampered due to certain limitations. Some of the limitations of this study
may be summarized as follows: -

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

Findings And Suggestion:

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 whom, we met Government employees, businessman,


Hotels, malls, restaurants and chaiwala also. What about their interested
in trading.

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

Marketing Management Phillip Kotler


Research Methodology Kooper
Human Resource Aswathapa
Production and Operation Adam & Abert
Web Site

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

1. What does CRM stand for in the context of CA firms?


A) Client Resource Management
B) Client Relationship Management
C) Client Revenue Management
D) Client Role Management

-Answer: B) Client Relationship Management

2. Which of the following is a key goal of CRM in a CA firm?


A) Increase client profitability
B) Enhance communication with clients
C) Improve client retention
D) All of the above

-Answer: D) All of the above

3. How often does your firm communicate updates or progress to its clients?
) Weekly
B) Monthly
C) Only when required
D) Rarely

- Answer: A) Weekly (For efficient firms)

4. Does your CA firm use a CRM software/tool?

A) Yes
B) No

Answer: A) Yes (Most established firms use CRM tools)

5. Which CRM platform is most commonly used by CA firms?


A) Salesforce
B) Zoho CRM
C) Hub Spot CRM
D) Custom in-house tools

Answer: B) Zoho CRM (Popular among CA firms for affordability)

6. How important is CRM for retaining clients in a CA firm?


A) Very important
B) Somewhat important
C) Not very important
D) Not important at all

- Answer: A) Very important

7. Rate the efficiency of your firm's client query resolution process?


1 Poor
2 Fair
3 Good
4 Excellent

Answer: 4) Excellent (For proactive firms)

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) Within 24 hours (Best practice)

9. How frequently does your firm seek feedback from clients?


A) Regularly
B) Occasionally
C) Rarely
D) Never

- Answer: A) Regularly

10. Does your firm segment its clients based on their needs or business sizes?
A) Yes
B) No

Answer: A) Yes

11. *What is the main focus of your firm’s CRM strategy?


A) Building long-term trust
B) Maximizing profits
C) Reducing workload
D) Attracting new clients

Answer: A) Building long-term trust


12. Which of the following is a challenge faced in implementing CRM in CA
firms?
A) Lack of resources
B) Complexity of CRM tools
C) Resistance from staff
D) All of the above

Answer: All of the above

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:B) 1–3 days

14. Does your firm personalize services for high-value clients?


A) Yes
B) No

Answer: A) Yes

15. *Rate the importance of client confidentiality in CRM practices:


1 Not important
2 Slightly important
3 Important
4 Very important

-Answer: 4) Very important

16. **Which of the following is a benefit of using CRM software in CA firms?


A) Better client tracking
B) Streamlined communication
C) Improved client satisfaction
D) All of the above

Answer: D) All of the above

17. Do you believe CRM improves the efficiency of CA services?


A) Strongly agree
B) Agree
C) Neutral
D) Disagree

Answer:A) Strongly agree

18. What is the biggest barrier to implementing CRM in your firm?


A) High costs
B) Lack of knowledge
C) Low perceived value
D) Other

Answer: A) High costs

Subjective Questions with Sample Answers

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?

Answer: I recommend automating repetitive tasks like invoicing and using


analytics to predict client needs. We should also invest in training employees to
make better use of CRM tools.

22. How do you ensure that client feedback is integrated into your firm's
processes?

Answer: Feedback is collected through regular surveys and client meetings.


Suggestions are reviewed monthly, and actionable changes are implemented in
our service delivery process.

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?

Answer: Technology enables us to track client interactions, automate mundane


tasks, and provide real-time updates to clients. This enhances efficiency and
strengthens our relationships.

25. How do you prioritize communication with clients during peak tax filing or
audit seasons?

Answer: We segment clients based on urgency and allocate additional resources


during peak times. Automated updates are sent to clients to keep them informed
while prioritizing critical cases.

You might also like