- Published: November 14, 2021
- Updated: November 14, 2021
- University / College: The London School of Economics and Political Science (LSE)
- Language: English
- Downloads: 43
Chase Card Services is a perfect demonstration of customer relationship management by Enkata Technologies. It assisted Chase to cut down on costs by implementing some efficient tools and algorithms for data analysis.
Customer relationship management systems play an important role in improving the services and helps in cutting down costs associated with after sales services. As in the case of Chase Card Services a perfect demonstration of customer relationship management was seen. Chase Card Services achieved a total savings of $8 million by improving the first call to customer.
Repeated calls to customer for resolving a single issue had cost the company millions of dollars. However, after the successful implementation of performance and talent management system by Enkata Technologies, Chase was able to save the call cost by 3% in the first year.
Customer relationship management systems in Chase, implemented by Enkata, tracked the call lengths for general issues like card activation and billing statements of customers. It discovered the fact that a diminutive reduction of only 2 seconds in a call for known issue helped Chase to save millions of dollars. The customer relationship management systems implemented helped in distinguishing the issues which are resolved and those which need a follow up. For example for a simple card activation issue if there is there was no follow up call for next few days it was considered as resolved.
Some more functionality like the predictive analysis and a proper use of historical data of the company are illustrated in this case. Enkata used the historical data to find out the most time consuming issues during calls and also provided weekly reports for call lengths, repeat call rates and other factors used to measure the performance of the teams. Based on these records employees were able to find out that how much time they should actually take to resolve that issue.
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