Customer relationship management strategies for the financial services industry

NCR Corporation, represented in South Africa by National Data Systems (NDS), has signed joint referral agreement for customers in the financial services industry with Novantas, a strategy-consulting firm that focuses on services industries. Together the two organisations will assist clients to deliver revenue-focused strategies and delivery capabilities.

Financial businesses will benefit from the combination of Novantas` experience in strategic management consultancy with the customer insight provided by NCR`s Value AnalyzerT customer relationship management (CRM) application. The partnership enables financial services organisations to make strategic plans based on a solid understanding of their customers` demographics and behaviour.

"Value Analyzer provides our clients with a world-class profitability measurement solution to build their CRM strategies," says Simon O` Hagan, general manager, Teradata Solutions Group at NDS.

"This CRM application affords users the opportunity to obtain their customers` account profitability thereby recognising and retaining profitable customers. At the same time they are able to grow unprofitable customers into profitable ones," says O`Hagan.

"This agreement allows us to leverage information produced by Value Analyzer to develop short term tactics that drive revenue and long term strategies that create competitive advantage."

"Few organisations have the customer level insights and execution methodologies necessary to translate behavioral data into initiatives that support longer term segment strategies," says Seamus McMahon, managing director of Novantas.

"Partnering with NCR allows our clients to significantly reduce the time and effort in moving from raw customer data to improve economics."