IT Governance and Law Essay Example | Topics and Well Written Essays - 3000 words

IT Governance and Law - Essay Example CRM or Customer Relationship Management is the process whereby all the information relative to a customer linked to an organization is properly catered. This is done mainly with the help of information systems. Proper handling of information relative to customers is the key to the prosperity of any organization. The processing of customer related information such that it becomes the center of the information flow of any organization is the core responsibility of the Customer Relationship arena or CRM. Traditional CRM systems have been promoting the business arena for a number of years now. Benefitting from their services organizations have also evolved with the increasing technological advancements. The way CRM systems have incorporated with the emerging phenomenon of Cloud Computing and what the implications of such incorporation may be are integral need of the day discussions. The report is aimed such that the relativeness of CRM systems is narrated first as an introductory term an d then as a discussion evaluating the significance of the conventional old systems and the new cloud incorporated systems. Figure 1: Customer Relationship Management. ... omized particularly to each business’ needs CRM systems not only manage data but also result in the overall analysis and prosperity of sales figures. CRM for Investment broker? The main services that a Retail brokerage firm offers are collectively termed as Wealth Management Services. These include coverage of stock trading for individual investors, investments in different mutual funds and other financial products like insurance products. They also offer advisory services to strengthen their relationship with their customers. A new class of customer relationship managers has emerged that focused specially the business of offering financial services. Due to this development it is extremely essential for the Retail brokerages to opt for a sophisticated and proven Customer Relationship Management system in order to achieve better productivity, customer satisfaction and yield. What is cloud? The term cloud has become much prevalent nowadays. The cloud, in common words, may be ref erred to as a collective pool of resources which can be accessed by multiple users. The usage of the resources on the cloud is often associated with the authorizations given to the users but as per need the resources may be made publically accessible as well. The core concept of cloud, in a formal definition narrated by the National Institute of Standards and Technology (NIST) the organization terms cloud as: A model that provides accessibility to a set of resources being made available in the form of a pool. The resources are linked to network access of the on-demand type, which is being provided with suitability. The examples of the shared computing resources may be networks, storage areas, services, applications and servers etc. These readily available resources are available with very little