Term
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Definition
| Customer Relationship Management: involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organizations profitability |
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Term
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Definition
-Provide better customer service
-Make call centers more efficient
- Cross sell products more effectively
- Help sales staff close deals faster
- Simplify marketing and sales processes
- Discover new customers
- Increase customer revenues |
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Term
| Drivers of CRM-Analytical |
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Definition
1. Give customers more of what they want
2. Value their time
3. Overdeliver
4. Contact frequently
5. Generate a trustworthy mailing list
6. Follow up |
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Term
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Definition
| Operational and Analytical |
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Term
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Definition
| supports traditional transactional processing for day to day front office operations or systems that deal directly with the customers |
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Term
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Definition
| supports back office operations and strategic analysis and includes all systems that do not deal directly with the customers |
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Term
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Definition
Provide better customer service
-Make call centers more efficient
- Cross sell products more effectively
- Help sales staff close deals faster
- Simplify marketing and sales processes
- Discover new customers |
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Term
| Operational CRM Technologies Marketing |
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Definition
1. List generator: compiles customer info from a variety of sources and segment the info for different marketing campaigns
2. Campaign management system: guides users through marketing campaigns
3. Cross-selling: selling additional products or services and up selling: increasing the value of the sale |
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Term
| Operational CRM Technologies Sales |
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Definition
Sales Management systems - automates each phase of the sales process, helping individual sales representatives coordinate and organize all of their accounts
Contact Management systems - maintains customer contact information and identifies prospective customers for future sales.
Opportunity Management systems - target sales opportunities by finding new customers or companies for future sales. |
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Term
| Operational CRM Technologies Customer Service |
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Definition
Contact Center - (call center) - where a customer service representative answers customers inquiries and responds to problems through a number of different customer touch points
Web-Based (self service) - allows customers to use the web to find answers to their questions or solutions to their problems
Call Scripting - Accesses organizational databases that track similar issues or questions and automatically generates the details for the (Call Service Rep) who can then relay them to the customer |
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Term
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Definition
1. Reporting
2. Analyzing
3. Predicting |
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Term
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Definition
| Enterprise Resource Planning: integrates all departments and functions throughout an organization into a single IT system so that employees can make enterprisewide decisions by viewing enterprisewide info on all business operations |
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Term
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Definition
Quality and Efficiency-ERP creates a framework for integrating and improving a company's internal business processes that results in significant improvements in the quality and efficiency of customer, service, production, and distribution
Decreased costs: significant reductions in transaction processing costs and hardware. software, and IT support staff
Decision support-provides vital cross functional info on business performance quickly to managers to significantly improve their ability to make better decisions in a timely manner
Enterprise Agility ERP breaks down many former departmental and functional walls of business processess info systems and info resources |
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Term
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Definition
Accounting and Finance: manages accounting data and financial processes within the enterprise with functions such as general ledger, accounts payable, accounts receivable, budgeting, and asset management
Production and Materials Management: handles the various aspects of production planning and execution such as demand forecasting production scheduling job cost accounting and quality control
Human Resource: tracks employee info including payroll, benefits compensation, performance assessment, and assumes compliance with the legal requirements of multiple jurisdictions and tax authorities |
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Term
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Definition
1.Integrate financial information
2.Integrate customer order information
3.Standardize and speed up manufacturing processes
4.Reduce inventory
5.Standardize human resource information |
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Term
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Definition
Business intelligence
Customer relationship management
Supply chain management
Ebusiness |
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Term
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Definition
| traditional components included in most ERP systems and they primarily focus on internal operations |
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Term
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Definition
| extra components that meet the organizational needs not covered by the core components and primarily focus on external operations |
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Term
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Definition
• Costs:
o Reengineering 43%
o Data Conversions 15%
o Training and Change Management 15%
o Software 15%
o Hardware 12%
• Risks:
o Software costs
o Consulting fees
o Process rework
o Customization
o Integration and testing
o Training
o Data warehouse and integration conversion |
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Term
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Definition
Business managers and IT professionals underestimate the complexity of the planning, development, and training needed
Failure to involve affected employees in the planning and development phases
Trying to do too much too fast in the conversion process
Failure to do enough data conversion and testing |
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Term
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Definition
| supports the work of teams by facilitating the sharing and flow of information |
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Term
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Definition
Successful ERP Projects have
1. Overall fit
2. Proper business analysis
3. Solid implementation plans |
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Term
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Definition
| ERP is designed to fully integrate the business into an electronic system that will help improve business across many if not all divisions of the business |
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Term
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Definition
CRM: Sales, Marketing, and Customer Service
SCM: Customers, Resellers, Partners, Suppliers, and Distributers
ERP: Accounting, Finance, Logistics, and Production |
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Term
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Definition
| form alliances and partnerships based on core competency; an organizations key strength, a business function that it does better than any of its competitors |
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Term
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Definition
| organization chooses to focus specifically on its core competency and forms partnerships with other organizations to handle non-strategic business processes |
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Term
| Create teams, partnerships and alliances to |
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Definition
Undertake new initiatives
Address both minor and major problems
Capitalize on significant opportunities |
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Term
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Definition
| Create a fast, efficient and low cost network of business relationships by minimizing joint costs and improve service |
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Term
| What was HP's problem when integrating their operations into a centralized ERP known as SAP? |
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Definition
HP had unforeseen glitches in their order-entry program that lead to LARGE backups that couldn't be handled by the small amount of staff they had.
It took a few weeks to fix the glitch resulting in a 40 million loss in revenue which cost more than the project itself (30 million) |
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Term
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Definition
1. Planning: involves establishing a high level plan of the intended project and determining project goals
2. Analysis: involves analyzing end user business requirements and refining project goals into defined functions and operations of the intended system
3. Design: involves describing the desired features and operations of the system including screen layouts, business rules, process diagrams, psuedo code, and other documentation
4. Development: involves taking all of the detailed design documents from the design phase and transforming them into the actual system
5. Testing involves bringing all the project pieces together into a special testing environment to test for errors, bugs, and interoperability and verify that the system meets all of the business requirements defined in the analysis phase
6. Implementation: involves placing the system into production so users can begin to perform actual business operations with the system
7. Maintenance: involves performing changes, corrections, additions, and upgrades to ensure the system continues to meet the business goals |
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Term
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Definition
| the overall process for developing info systems from planning and analysis through implementation and maintenance |
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Term
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Definition
| a sequential activity-based process in which each phase in the SDLC is performed sequentially from planning through implementation and maintenance |
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Term
| System Development Challenges for ERP |
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Definition
Difficult and risky
Many projects are never finished
Some projects finish 200 or 300 percent over budget
Some projects finish on schedule and within budget but do not meet their goals |
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Term
| Reasons for Project failure for Waterfall |
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Definition
Unclear or missing business requirements
Skipping SDLC phases
Failure to manage project scope
Scope Creep occurs when the scope increases
Feature Creep occirs wjem extra featires are added
Failure to manage project plan
Changing Technology |
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Term
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Definition
| Rapid application development emphasizes extensive user involvement in the rapid and evolutionary construction of working prototypes of a system to accelerate the systems development process |
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Term
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Definition
| essential part of the analysis; testing of working models of new applications in an interactive, iterative process; simplifies and accelerates systems design |
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Term
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Definition
Poor planning or poor project management
Change in business goals during project
Lack of support from business management
Lack of resources
Lack of support from IT management
Change in technology during project |
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Term
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Definition
Easy to understand and read
Communicated to all key particpants
Appropriate to the projects size, complexity, and criticality
Prepared by the team, rather than by the individual |
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Term
| Project Management Strategies |
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Definition
1. Define project success criteria
2. Develop a solid project plan
2. Divide and conquer
4. Plan for change
5. Manage project risk |
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Term
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Definition
| the application of knowledge, skills, tools, and techniques to project activities in order to meet or exceed stakeholder needs and expectations from a project |
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Term
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Definition
Innovation: finding new
Social entrepreneurship: going green
Social network: who's who
Virtual worlds: it's a whole new world |
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Term
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Definition
| process of building the capacity, capability, and will of an organization, to move from an entrenched current state to a unfamiliar future state, and leading them through and sustaining them in that change |
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Term
| Change Management Process |
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Definition
Create a change vision
Define a change strategy
Develop leadership
Build commitment
Mange people performance
Deliver business benefits
Develop culture
Design organization |
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Term
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Definition
| an arrangement by which one organization provides a service or services for another organization that chooses not to perform them in house |
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Term
| Factors driving outsourcing |
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Definition
Core competencies
Financial Savings
Rapid growth
Industry changes
Internet
Globalization |
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Term
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Definition
• Contract length
o Difficulties in getting out of a contract
o Problems in foreseeing future needs
o Problems in reforming an internal IT department after the contract is finished
• Competitive edge
- IT edge can be lost in outsourcing
• Confidentiality
- information stored within outsourced information is at risk of being obtained and used by the other company
Scope definition |
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Term
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Definition
• Increased quality and efficiency
• Reduced operating expenses
• Outsourcing non-core processes allows focus on core competencies
• Reduced exposure to risk
• Service providers economies of scale, expertise, and best practices
• Access to advanced technologies
• Increased flexibility
• Avoid costly outlay of capital funds
• Reduced headcount and associated overhead expense
• Reduced frustrations and expense related to hiring/retaining employees
• Reduced time to market for products or services |
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