Nghiên cứu các nhân tố ảnh hưởng đến việc triển khai thành công giải pháp quản trị quan hệ khách hàng điện tử tại các ngân hàng..

Nội dung tài liệu: Nghiên cứu các nhân tố ảnh hưởng đến việc triển khai thành công giải pháp quản trị quan hệ khách hàng điện tử tại các ngân hàng..

1. 1 INTRODUCTION 1. Reasons for choosing this research Customer relationship management (CRM) plays an important role for businesses because customers are the biggest asset of the business. Any business that wants to survive and keeps sustainable development in the market must initially establish a set of existing customers, and rapidly developing potential ones. CRM is a strategy and processes with the aims of discovering potential subjects, turning them into customers and maintain them to valuable and loyalty customers. In the context of e-commerce explosion, CRM expands to eCRM (Electronic Customer Relationship Management). eCRM increases ability to capture, integrate and distribute customer data obtained through e-commerce transactions. Competitive situation is going strongly in banking and financial sector of Vietnam. In order to increase its competitive advantages in the current context, commercial banks must strengthen its governance and improve service quality to retain their customers. Customers' understanding is the foundation for sustainable competitive advantages of the banking sector through the assessment of opportunities, improvement and maintenance of good relationships with customers and enhancement of customer value to create mutually sustainable relationships. Therefore, successful implementation of eCRM solution is considered an urgent need of current Vietnamese commercial banks in the context of strong competition, sustainable development requirements, along with customer-focused trend in business processes, proactive orientation of risk management by customers, enhancement of performance and productivity. Although eCRM brings many benefits to organizations and businesses, it actually encounters many difficulties to be successfully implementation. According to the annual report by Gartner Group (2001-2014), nearly 50% of eCRM projects failed in the world. Such failure comes from many different aspects such as eCRM strategies of the business, business processes, corporate culture, customer data, top management commitments in the implementation process, etc. On the other hand, eCRM solution at the commercial banks is information system solutions under complex, large management, high cost and lots of risks. Process for implementation of eCRM solution in the commercial banks appears to be stretching, complicated and involving all parts of the banks. The world has witnessed plenty of works which study the successful implementation process, factors affecting such
2. 2 successful implementation of CRM/eCRM for the banks and just focus on one phase of the implementation process or a few influencing factors in a certain context scope. The results obtained from these works can be applied to the eCRM solution implementation process for Vietnamese commercial banks to some extents, but must be taken into account specific elements of Vietnam in terms of laws, culture, society, economy and technology infrastructure, etc. Meanwhile, according to the understanding of the author, most of the domestic studies have been focused only in summarizing roles and benefits of eCRM for the banks, or eCRM implementation experience in some banks. Stemming from the above reasons, the topic "A study on factors affecting the successful implementation of electronic customer relationship management solution in Vietnamese commercial banks " is chosen in order to identify and evaluate influence level of factors affecting the successful implementation of eCRM solution, and determine the relationship between this successful implementation and efficiency of customer relationship in Vietnamese commercial banks. 2. Research overview Many international case studies about the factors affecting eCRM solution successful implementation have been performed by Kim et al (2002); Goodhue et al (2002), Wilson et al (2002), Luis E. Mendoza et al (2007), King and Burgess (2008), Wang (2011), and Amilan Ganesamurthy (2012), Esmaeilpour and Dashti (2013), Ali et al (2015), along with certain conclusions on individual factors or groups of factors that affect the eCRM solution successful implementation. Factors determined by the research include: eCRM strategies; Top Management Commitment; Business processes; Consulting team; Project team; Banking culture; Users; Data quality; Technology infrastructure; Inspection, supervision and measurement; Knowledge management; Schedule and budget management; etc. In the research findings, these factors can be identified with inheritance and new development, in which their level of significance to the successful implementation may vary depending on the perception of the object to which the author carries out investigations and surveys, as well as location and context of the research period. The in-depth researches on eCRM solution at commercial banks in the world are published in doctoral thesis, and prestigious academic journals. Doctoral thesis of Abd El Kader Nermine (2012) - Middlesex University - Britain launched a research model of factors (technology, banking culture, banking strategies, and customer awareness) which affect the level of readiness for eCRM solution and how readiness for eCRM directly impacts on the quality of banking services at commercial banks in Egypt. Research of
3. 3 Fakhraddin Maroofi et al (2012) at commercial banks in Iran shows impacts of eCRM solution on the quality and efficiency of the relationship between the bank and its customers. In addition, the researches of Ganesamurthy and Amilan (2012) at Indian commercial banks, Wang (2011) at Chinese commercial banks, Sivaraks et al. (2011) at Thai commercial banks give some factors influencing on successful implementation of eCRM solution at commercial banks. The results of this study are an important prerequisite for commercial banks to identify resources and conditions for successful implementation of eCRM solution. In Vietnam, the studies of eCRM solution at the commercial banks appear to be limited. According to the doctoral thesis of Do Giang Nam (2015) "Research on the relationship between banks and businesses to serve customer relationship management in Vietnamese commercial banks", the nature, structure and movement trends of the relationship between banks and businesses are given. In addition, there have been some articles identifying benefits, roles and experiences in implementing eCRM solution at some Vietnamese commercial banks such as "Customer relationship management - situation and solutions for Vietnamese commercial banks" by Nguyen Tien Dong (2014), Customer relationship management solution contributes to improving bank competitiveness" by Do Giang Nam (2012), "Talk about CRM in commercial banks" by Nguyen Van Thang (2011). There have been no scientific projects on the factors that affect the successful implementation of eCRM solution in Vietnamese commercial banks. eCRM solution for the commercial banks is a significant information system solution, playing important role and affecting the entire operations of the banks. In the context of many special characteristics within Vietnamese commercial banks, it is stated by the author that the study of factors affecting successful implementation of eCRM solution at Vietnam commercial banks is urgently needed and this will fill gaps that other studies in Vietnam have not done. The results obtained will enrich theoretical knowledge and practices about successful implementation of eCRM solution and any relevant factors in the context of Vietnamese commercial banks. 3. Research objectives Identify and verify factors affecting the successful implementation of eCRM solution, test the relationship between this successful implementation and efficiency of customer relationship in Vietnamese commercial banks, and then propose some solutions that help Vietnamese commercial banks deploy eCRM solution successfully.
4. 4 4. Research object and scope - Research object: The research focuses on eCRM solution implementation and the factors affecting this successful implementation in Vietnamese commercial banks. - Research scope: + Research contents: Study the successful implementation of eCRM solution and any influencing factors of this successful implementation on the efficiency of customer relationships in Vietnamese commercial banks. + Research space: Vietnam commercial banks have been implementing eCRM solution. + Research period: Secondary data was collected from 2013-2016; primary data was collected from 2015-2016. 5. Research methods Thesis research framework is followed by an applied basis under adjusted research frame for information systems of Von Alan R Hevner (2004) (Figure 1). The thesis is done on the basis of dialectical materialism and historical materialism, which is a combination of qualitative research and quantitative methods. Specific research methods of the thesis include: (1) Information analysis and synthesis; (2) Qualitative research; (3) Quantitative research.
5. 5 Context Research Knowledge base Determination Factors affecting the successful Foundation Human implementation of eCRM and eCRM solution theories Regulations, rules measurement criteria Frames of successful Competence Construction eCRM solution Characteristic Research model and implementation Organization hypotheses Influencing factors and eCRM strategies measurement criteria Culture & organization eCRM process eCRM solution Assess Refine deployment process Business Needs Applicable Technology Knowledge Infrastructure Core banking Evaluation / Measurement Technology solutions Application solutions Qualitative analysis Methodology Technological capacity Quantitative analysis Information analysis and for implementation synthesis Qualitative research Quantitative research Application for eCRM solution Additions to the Knowledge Base implementation in commercial banks Figure 1. Thesis research framework The thesis is carried out on the basis of empirical research method by which the author begins by defining research objectives, then presents the research overview on the factors affecting the successful implementation of eCRM solution at commercial banks and the practical implementation of eCRM solution at Vietnamese commercial banks in order to ensure objectivity, strictness and universality. Next, the the exploratory research is conducted at a commercial bank to determine the current state of implementation of the eCRM solution in Vietnamese commercial banks and the factors influencing the proposed model and research hypotheses. This is followed by the determination of variables that measure the research concepts. Lastly, the quantitative research is carried out to collect and process data to test hypotheses and report results according to the procedure shown in Figure 2.
6. 6 Define research objectives Literature review CSFs for Study the reality of applying and implementation of eCRM in implementation eCRM solutions in commercial banks Vietnamese commercial banks Study the exploratory research on the implementation of eCRM solution at a Vietnamese commercial bank Propose models and research hypotheses Study the quantitative research to test hypotheses Report research results Figure 2. Process thesis research 6. New contributions of the thesis - In term of theory, by new method as a Structural Equation Model SEM, new research context of commercial banks in Vietnam, the thesis identifies 07 factors that affect the successful implementation of eCRM solution from high to low level: (1) eCRM strategies; (2) Top Management Commitment; (3) Data; (4) Project team; (5) Consulting team; (6) Technology infrastructure; (7) Banking culture. The thesis also finds out new relationship which is proportional impact of the successful implementation of eCRM solution on the customer relationship efficiency. It also develops and tests 03 new scales for 3 variables such as "eCRM strategies", "Top Management Commitment" and "Banking culture". - In terms of practices, the thesis proposes 03 groups of solution for managers of commercial banks in the process of implementing eCRM solution: (1) eCRM strategies solutions; (2) human solutions in the implementation process; (3) technology solutions. Such groups of solutions are considered
7. 7 scientific basis for Vietnamese commercial banks in Vietnam to deploy the eCRM solution successfully. 7. Thesis structure The thesis is designed to include the introduction, conclusion and 4 chapters. Chapter 1. Theoretical issues about the study of factors affecting the successful implementation of electronic customer relationship management solution in commercial banks Chapter 2. Situational analysis with the identification of factors affecting the successful implementation of eCRM solution at Vietnamese commercial banks. Chapter 3. Findings of factors affecting the successful implementation of electronic customer relationship management solution in Vietnamese commercial banks Chapter 4. Discussion on findings and propose solutions for the successful implementation of electronic customer relationship management solution in Vietnamese commercial banks.
8. 8 CHAPTER 1. THEORETICAL ISSUES ABOUT THE STUDY OF FACTORS AFFECTING THE SUCCESSFUL IMPLEMENTATION OF ELECTRONIC CUSTOMER RELATIONSHIP MANAGEMENT SOLUTION IN COMMERCIAL BANKS 1.1. Overview eCRM solution for commercial banks 1.1.1. eCRM solution 1.1.1.1. Customers and their roles The concept of customers and their roles are clearly presented in the thesis. 1.1.1.2. Concept of CRM and eCRM - Concept of CRM: CRM stands for Customer Relationship Management. "CRM is a set of strategic activities aimed at selecting, establishing, maintaining and developing good and long term relationships between businesses and customers on the basis of adapting interest creation processes of customers and businesses". - Concept of eCRM: eCRM is an extension of the traditional CRM system integrated with new electronic transaction channels, such as Web, wifi, etc., and combined with the application of e-commerce business into strategies of the whole CRM system. - eCRM solution: eCRM solution is a comprehensive information system solution which helps organizations discover, build, maintain and develop sustainable relationships with customers on customer-focused basis to optimize benefits for customers and organizations. 1.1.1.3. History and development of eCRM History of formation and development of eCRM solution are clearly stated in the thesis. 1.1.1.4. eCRM system structure The research presents the structure of eCRM in the enterprise. 1.1.1.5. Technology platform of eCRM There are 05 eCRM platform technologies presented in the research, including: Customer data warehouse, data analysis, personalization, communications and transactions. 1.1.2. eCRM solution in commercial banks 1.1.2.1. Commercial banks The research presents the concepts of commercial banks and the characteristics of such commercial banks that affect eCRM solution.
9. 9 1.1.2.2. eCRM solution architecture for commercial banks eCRM architecture in the commercial banks usually includes 4 main blocks: (1) Customer interaction management; (2) Internal management; (3) Customer data management; (4) Information technology management. 1.2. eCRM solution implementation in commercial banks 1.2.1. Implementation of information system solutions 1.2.1.1. Information system solutions implementation process The research project presents the implementation process of information system solutions in general 1.2.1.2. Issues in the implementation of the information system solution Groups of problems in the course of information system solution implementation include: "Process management, organizational environment, organizational leadership, technology infrastructure and human resources". 1.2.1.3. Factors affecting the successful implementation of information system solution Research results on critical success factors (CSFs) to the successful implementation of information system solution are summarized in the thesis as follows: Project objectives; Project team; Project management; Involvement and support of leaders; Implementation consulting; Change management; Technical tasks; Supervision and feedback. 1.2.2. Implementation of eCRM solution in commercial banks eCRM solution implementation process in the commercial banks are compliant with the general 11-step processes of information system solution implementation. 1.2.3. Successful implementation eCRM solution in commercial banks In view of the project implementation, successful eCRM solution implementation must ensure the criteria: (1) Implementation properly follows the schedule proposed; (2) Costs of implementation are ensured according to the provisional budget approved; (3) Solution provides a full range of features and functionality needed by design to ensure the actual needs of the banks; (4) Solution is put to use and beneficial for the banks. 1.2.4. Successful eCRM solution On the basis of successful information system theories of Delone (2003) and Gable et al (2008), successful eCRM solution is assessed by scales: quality of information, quality of system, personal impacts, and organizational impacts.
10. 10 Successful eCRM solution is assessed through the customer relationship efficiency: satisfaction, trust, loyalty, commitments, willingness to introduce others people to use. 1.2.5. Experience of implementation of eCRM solution in the world's banks Experience of implementation eCRM solution in Citibank, Royal Bank of Canada, Wells Fargo, Malayan Banking Berhad are made use of to draw some lessons for Vietnamese banks. 1.3. Overview of factors affecting the successful implementation of eRCM solution in commercial banks 1.3.1. Cause of failure to implementation eCRM solution Summarization of causes with direct impact on implementation eCRM solution failures through research results: "Lack of support from senior leaders of the organization during implementation process; Poor eCRM strategies; Poor change management; Poor customer-focused basis ; Poor customer data; Poor business processes related to customer relationship management operations". 1.3.2. Overview of CFSs affecting the successful implementation of eRCM solution in commercial banks Table 1.1. CFSs affecting the successful implementation of eRCM solution TT CSF factor Verified studies Quantity Kim et al. (2002); Goodhue et al. (2002), Wilson et al. (2002), Top Luis E. Mendoza et al. (2007), King and Burgess (2008), Wang 1 management 9 (2011), Ganesamurthy and Amilan (2012), Esmaeilpour and commitment Dashti (2013), Ali et al. (2015) Radcliffe (2001), Croteau and Li (2003), Alt and Puschmann Technology 2 (2004), King and Burgess (2008), Almotairi (2010), Wang 8 infrastructure (2011), Ganesamurthy and Amilan (2012), Ali et al. (2015) Radcliffe (2001), Luis E. Mendoza et al. (2007), King and 3 eCRM strategy Burgess (2008), Sivaraks et al. (2010), Almotairi (2010), Abd 7 El Kader (2012), Ali et al. Chen et al. (2004), Payne and Frow (2006), King and Burgess Banking (2008), Sivaraks et al. (2010), Garrido-Moreno and Padilla- 4 7 culture Meléndez (2011), Abd El Kader (2012), Esmaeilpour and Dashti (2013) Radcliffe (2001), Chen and Popovich (2003), King and Business 5 Burgess (2008), Garrido-Moreno and Padilla-Meléndez (2011), 5 process Esmaeilpour and Dashti (2013)
11. 11 TT CSF factor Verified studies Quantity Radcliffe (2001), Roh et al. (2005), Luis E. Mendoza et al. 6 Data quality 5 (2007), King and Burgess (2008), Almotairi (2010) Inspection, supervision Da Silva and Rahimi (2007), Eid (2007), Pan et al. (2007), 7 5 and Almotairi (2010), Ganesamurthy and Amilan (2012) measurement Steve Mankoff (2001), Goodhue et al. (2002), Wilson et al. 8 Users (2002), Payne and Frow (2006), Esmaeilpour and Dashti 5 (2013) Consulting Da Silva and Rahimi (2007), Eid (2007), Luis E.Mendoza et 9 4 team al. (2007), Esmaeilpour and Dashti (2013) Eid (2007), Luis E. Mendoza et al. (2007), Almotairi (2010), 10 Project team 4 Esmaeilpour and Dashti (2013) Source: From the research results composed by the author SUMMARY OF CHAPTER 1 Chapter 1 generalizes the most common theoretical issues of eCRM solution and eCRM solution deployment for commercial banks. A prominent feature of Chapter 1 is the systematization of the factors affecting the successful deployment of eCRM solution at commercial banks through the results of mainly overseas studies: “(1) eCRM strategy; (2) Top management commitment; (3) Business process; (4) Consulting team; (5) Project team; (6) Banking culture; (7) Users; (8) Data quality; (9) Technology infrastructure; (10) Inspection, supervision and measurement”. The rationale and literature review of these factors will be an important premise in empirical research to determine the factors involved, as well as their order of impact on the implementation of eCRM solution at commercial banks in Vietnam.
12. 12 CHAPTER 2. SITUATIONAL ANALYSIS WITH THE IDENTIFICATION OF FACTORS AFFECTING THE SUCCESSFUL IMPLEMENTATION OF ECRM SOLUTION AT VIETNAMESE COMMERCIAL BANKS 2.1. Structure and current state of the banking system in Vietnam The research analyzes the structure and operation of Vietnam's banking system in terms of: Structure of Vietnam's banking system, financial capacity, banking products and services, finance access level, credit growth and capital mobilization, business results. These are the basis for the research context of the eCRM solution implementation process and the factors that affect successful implementation of eCRM solution at Vietnamese commercial banks. 2.2. Current situation of IT application at Vietnamese commercial banks IT is an important technical platform for the implementation of banking operations in general and eCRM in particular. The research project is focused on the current state of IT application in Vietnam's banking system to create the basis for analyzing the current situation of application and deployment of eCRM solution at Vietnamese commercial banks. The issues to be analyzed are IT infrastructure, IT human resources infrastructure, payment infrastructure, application infrastructure and security infrastructure. The research project analyzes the current state of IT application of Vietnamese commercial banks in order to clarify the trend of applying IT in banking administration, developing modern banking products and services on IT platform. Vietnamese commercial banks are making huge investments and applying modern IT towards efficient management of resources, increase in customer satisfaction and value, and increase in competitiveness to improve business efficiency and sustainable development. IT infrastructure development is an important premise for the commercial banks willing to successfully implement the eCRM solution. 2.3. Current status of application and deployment of eCRM solution at Vietnamese commercial banks 2.3.1. The role of eCRM solution at Vietnamese commercial banks The role of eCRM solution at Vietnamese commercial banks is fully determined in the research project. 2.3.2. Current status of application of eCRM solution at Vietnamese commercial banks
13. 13 2.3.2.1. eCRM strategies The research project demonstrate an analysis of the real situation of eCRM strategies at Vietnamese commercial banks based on customer-centric strategy and eCRM strategy levels: product-based sales; more excellent and detailed customer information; provision of additional support services; personalization. 2.3.2.2. eCRM technology The research project analyzes the current status of eCRM application at Vietnamese commercial banks in terms of core banking system, customer support system, and application of professional CRM / eCRM solution. 2.3.2.3. eCRM implementation The research conducts an analysis of the actual deployment of eCRM solution in commercial banks in Vietnam. 2.2.3. SWOT analysis in the eCRM solution implementation process in Vietnamese commercial banks Strengths, weaknesses, opportunities and threads in the eCRM solution implementation process in Vietnamese commercial banks are clearly analyzed in the research. 2.4. Exploratory research on the deployment of eCRM solution at Military Commercial Joint Stock Bank Military Commercial Joint Stock Bank is the most recent bank to successfully deploy the eCRM solution (2015) with initial effectiveness for customer relationship management and business operations of the bank. The research project present the exploratory research on the deployment process of eCRM solution in some aspects to clarify the implementation process of eCRM solution at commercial banks and identify the factors that affect the successful implementation of the solution. 2.4.1. Overview of Military Commercial Joint Stock Bank 2.4.2. Situation of deploying eCRM solution at Military Commercial Joint Stock Bank The research project shows analysis of the implementation of eCRM solution at Military Commercial Joint Stock Bank in terms of: Customer relationship management in the bank prior to deploying the solution; Objectives of the solution; Implementation of eCRM solution at Military Commercial Joint Stock Bank results achieved in the course of successful implementation; risks during project implementation.
14. 14 2.5. Identify the factors affecting the successful implementation of eRCM solution in commercial banks of Viet Nam By analyzing the current situation of eCRM implementation in Vietnamese commercial banks combined with the overall result of Chapter 1:10 factors and 50 criteria are identified as having a significant impact on the successful implementation of eCRM solution in Vietnamese commercial banks. 2.5.1. Strategies of electronic customer relationship management Scales include: eCRM strategies of the banks: (1) demonstrate customer- focused philosophy; (2) is oriented by development strategies of the banks; (3) determine the full range of objectives to be achieved; (4) is communicated to all units of the banks; (5) express clarity and completion. Among these scales, scale (4), (5) are under new development. 2.5.2. Top management commitment Scales include: (1) commitments to restructuring business processes; (2) participation in directing and administering the eCRM solution implementation process; (3) support of disagreements and disputes resolution among departments in the implementation process, timely response to negative reaction of the users. (4) Visions in eCRM solution; (5) approval of estimates and eCRM solution implementation plans. Among these scales, scale (1) is under new development. 2.5.3. Business processes Scales include: (1) Restructuring of business processes under customer-focused basis; (2) Business processes of the banks: full design; (3) Under effective control and assessment; (4) under official issue and implementation by the banks; (5) subject to documentation and consistence across all channels of customer transactions. 2.5.4. Implementation consultants Scales include: (1) Understanding of banks' business operations; (2) Understanding of customer and customer relationship management in the banks; (3) Experience in eCRM solution implementation in the banks; (4) Excellent analysis system; (5) Supporting activities and maintenance of eCRM solution. 2.5.5. Project team Scales include: (1) Adequate personnel for functional units engaged; (2) High level of expertise and understanding of customer relationship management; (3) Proper and adequate determination of any requirements of processes in the customer relationship management; (4) Ability to coordinate with implementation consultants; (5) Understanding of assessment and control of eCRM process.
15. 15 2.5.6. Banking culture Scales include: (1) Cooperation of employees in the solution implementation process; (2) Availability of employees in the implementation process; (3) Full regulation and documentation of internal coordination procedures of the banks; (4) Perception of benefits and importance of the employees on eCRM; (5) Common objectives orientation by staff and functional units when solving common problems in the eCRM solution implementation process. Among these scales, scale (3), (4) are under new development. 2.5.7. Data quality Scales include: (1) Full and suitable data to the users' needs; (2) Timely update; (3) Correctly update; (4) Synchronous integration across all transaction channels; (5) Safe storage, handling and use of data. 2.5.8. Technology infrastructure Scales include: (1) Appropriate technology infrastructure; (2) Synchronous and modern technology infrastructure; (3) Highly safe and confidential technology infrastructure; (4) Scalability of technology infrastructure; (5) Constantly update of technology infrastructure. 2.5.9. Users Scales include: (1) Level of understanding about any benefits of eCRM solution to individuals and banks; (2) Level of understanding about an usage process of eCRM system; (3) Level of compliance with the implementation process of eCRM solution; (4) Ability to adapt to new processes, technologies and requirements; (5) Level of flexibility in applying technology application in work. 2.5.10. Inspection, supervision and measurement Scales include: (1) Available plans to inspect, supervise and measure during the implementation process; (2) Establishment of board of inspection, supervision; (3) Frequency of progress reports; (4) Frequency of meetings to track progress; (5) Establishment of measurable criteria for implementation results. 2.6. Research model and hypotheses Research hypothesis H1: eCRM strategies have positive impacts on successful implementation of eCRM solution H2: Top Management Commitment have positive impacts on successful implementation of eCRM solution H3: Business processes have positive impacts on successful implementation of eCRM
16. 16 H4: Capacity, skills and experience of consulting team have positive impacts on successful implementation of eCRM H5: Capacity, skills and experience of project team have positive impacts on successful implementation of eCRM H6: Banking culture has positive impacts on successful implementation of eCRM H7: Skills, understanding, compliance of users have positive impacts on successful implementation of eCRM H8: Data quality has positive impacts on successful implementation of eCRM H9: IT infrastructure has positive impacts on successful implementation of eCRM H10: The processes of Inspection, supervision and measurement during the implementation and operation have positive impacts on successful implementation of eCRM H11: Successful implementation of eCRM solution has positive impacts on the customer relationship efficiency ChieCRMến lư strategiesợ c eCRM H1+ eCRM TopCam Management kết của lãnh Commitment đạo cấp cao H2+ H + QuyBusiness trình kinh Process doanh 3 Nhà Consultantstư vấn triển khai H4+ Triển Hiệu quả H5+ Customer ProjectĐội dự teamán Successful H10+ khai mối quan Implementation H11+ relationship Banking culture H6+ Văn hóa ngân hàng eCRMeCRM hefficiencyệ khách Users H7+ thành hàng Người sử dụng DataNhân quality viên công Chất lượng dữ liệu H8+ Technology infrastructure Hạ tầng công nghệ H9+ Inspection, supervision, and Giám sát,measurement kiểm soát, đo lường H10+ Figure 2.1. Research model SUMMARY OF CHAPTER 2 Chapter 2 analyzes the current status of operations, IT applications and eCRM solution at Vietnamese commercial banks. From these points, the author identifies the factors that affect the successful implementation of the eCRM solution and proposes a research model to test the impact of such factors.
17. 17 CHAPTER 3. FINDINGS OF FACTORS AFFECTING THE SUCCESSFUL IMPLEMENTATION OF ELECTRONIC CUSTOMER RELATIONSHIP MANAGEMENT SOLUTION IN VIETNAMESE COMMERCIAL BANKS 3.1. Research sample - Survey participants: Members involved in implementing eCRM solution at Vietnamese commercial banks - The minimum sample size of the research project is 305 observations. 3.2. Data collection and processing 3.2.1. Questionnaire design 3.2.2. Data collection 3.2.3. Data analysis methods Quantitative data analysis method is described through the use of: scale assessment by Cronbach's alpha; exploratory factor analysis EFA; confirmatory factor analysis CFA; structural equation modeling SEM. 3.3. Data analysis 3.3.1. Scale assessment by Cronbach's alpha Results of scale verification by Cronbach's alpha eliminate factors "Business processes" (α = 0.455), "eCRM users" (α = 0.394), "Inspection, supervision and measurement "(α = 0.419) due to coefficient α <0.6. In addition, a number of observed variables having correlation coefficient of total variation <0.3 are also eliminated including: CL5, CK4, CK5, DA5, DL4, VH3, VH5, HT5, TC5, HQ6. 3.3.2. Exploratory factor analysis Exploratory factor analysis EFA is analyzed in the research. As can be seen from the results, 2 scales, namely TV4 and TV5 continue to be excluded due to a smaller weighting factor than 0.4. The second exploratory factor analysis is conducted with the results as follows: KMO = 0.792 p -value in Bartlett's test is significant (sig <0.05), seven groups of factors are extracted with 60.837% of total variance extracted from 25 observed variables. 3.3.3. Confirmatory factor analysis Confirmatory factor analysis is analyzed under the model: there are 7 factors (25 observed variables) affecting the successful implementation of eCRM solution (4 observed variables), successful implementation of eCRM affects the customer relationship efficiency (5 observed variables). According to the results, DA2 has a
18. 18 weight of 0.473 less than the standard (> = 0.5) to make the scale achieve convergence value and then CFA is under further analysis for the second time. As can be shown from the results obtained from 24 scales of variables "eCRM strategies; Top Management Commitment; Consulting team; Project team; Banking culture; Data quality; Technology infrastructure" that no correlation among the errors of observed variables is available, therefore, unidirectional nature can be achieved. It can be also seen that that the concepts of the model achieve differentiated value. 3.3.4. Structural equation modeling The results of structural equation modeling SEM fit the market data. 7 factors measured by 24 criteria "eCRM strategies; Top Management Commitment; Data; Project team; Consulting team; Technology infrastructure; Banking culture" indicate proportional impact upon "successful implementation of eCRM solution" . At the same time, these seven factors explain 51% of the variance in the "successful implementation of eCRM solution." As also revealed by SEM, the "successful implementation of eCRM solution" has proportional impact on "customer relationship efficiency" and explained 15.3% of the variance in the "customer relationship efficiency" in the commercial banks. Bootstrap test is used with N = 1000 to serve the inspection of SEM with reliable estimates. Table 3.1. Standardized regression weights SEM Table 3.2. Explained Estimate variance of the model 2 TC < CL 0.256 (R ) TC < CK 0.219 Estimate TC < DL 0.204 TC 0.510 TC < DA 0.197 HQ 0.153 TC < TV 0.135 TC < HT 0.113 TC < VH 0.109 HQ < TC 0.391
19. 19 Figure 3.1. Structural equation modeling 3.3. Research findings - Research findings confirm that 07 factors measured by 24 criteria have powerful impacts on the successful implementation of eCRM solution in Vietnamese commercial banks. 07 factors belong to 3 groups: eCRM strategies, human factor (Top Management Commitment, Consulting team, Project team, Banking culture), technology factor (Technology infrastructure, Data quality). - Impact level of the factors affecting the successful implementation of eCRM solution is arranged by the following order: "eCRM strategies, Top Management Commitment, data, project team, consulting team, technology infrastructure, banking culture" in which the first factor shows its strongest influence. These factors explain 51% of the variance in the "successful implementation of eCRM solution". - It is also confirmed that the "successful implementation of eCRM solution" has certain influences on "customer relationship efficiency" in the commercial banks. The concept of "successful implementation of eCRM solution" explains 15.3% of the variance in the "customer relationship efficiency" in the commercial banks. - These scales for the factors affecting the successful implementation of eCRM solution, assessment of successful implementation of eCRM solution, customer
20. 20 relationship efficiency achieve "unidirectional property, convergence, reliability and highly differentiated value ". - Research findings give a "matching model to market data" with standard statistical indicators. - Accept the hypotheses H1,H2,H4,H5, H6,H8,H9,H11; reject the hypotheses H3,H7,H10. - As can be indicated from the results of scales testing, hypothesis testing that 03 newly-included variables are appropriate: CL4, CK1, VH4. SUMMARY OF CHAPTER 3 Chapter 3 presents the results of the research project including the results of verifying scales, testing hypotheses of the research model. The thesis presents the research sample, data collection and processing methods. With a sample of 308 leaders and employees of commercial banks involved in the implementation of the CRM / eCRM solution, the research project conducts a Cronbach Alpha reliability rating, EFA exploratory factor analysis, CFA confirmatory factor analysis, structural equation modeling and hypothesis testing of the research model. The results obtain 07 factors “eCRM strategies, Top Management Commitment, Data, eCRM project team, Implementation Consulting team, IT infrastructure and Banking” with proportional effect on “successful implementation of eCRM solution”. These factors are measured by 24 criteria and account for 51% of the variation of "successful implementation of the eCRM solution”. As indicated by SEM model “successful implementation of eCRM solution” has proportional effect on “customer relations effectiveness” and explains 15.3% variability of " customer relations effectiveness" at the commercial banks. Bootstrap test with N = 1000 is used in the research project to verify that the SEM model can be reliably estimated.
21. 21 CHAPTER 4. DISCUSSION ON FINDINGS AND PROPOSE SOLUTIONS FOR THE SUCCESSFUL IMPLEMENTATION OF ELECTRONIC CUSTOMER RELATIONSHIP MANAGEMENT SOLUTION IN VIETNAMESE COMMERCIAL BANKS 4.1. Research results Specific research results of the thesis include the following contents: - Results of qualitative and quantitative research clarify the current status of IT application in general and application of eCRM solution in particular at Vietnamese commercial banks. From this point, it is possible to understand the implementation of eCRM solution, common risks in the implementation of solutions, the results brought about when solutions are successfully deployed in the banks. At the same time, the factors that influence the successful implementation, scales in the context of Vietnamese commercial banks are clearly identified as well. - The research project affirms 07 out of 10 factors which affect the successful implementation of eCRM solution at Vietnamese commercial banks with standardized regression coefficients in order: (1) eCRM strategies (0.256); (2) Top Management Commitment (0.219); (3) Data quality (0,204); (4) eCRM project team (0.197); (5) Consutlants (0.1350); (6) Technology infrastructure (0.113); (7) Banking culture (0.109). These factors explain 51% of the variation of "successful implementation of eCRM solution". The results are consistent with published research results. In addition, the research project further develops three new dimensions of eCRM strategies, committments of senior leaders, banking culture. However, with this survey data, Business processes, Users, Insection, Supervision and Measurement have not shown any impact on the successful implementation of the eCRM solution since the survey data did not ensure statistical significance (coefficient Cronbach Alpha <0.6). - It is possible to confirm the positive relationship between the successful implementation of the eCRM solution and customer relations effectiveness with the high standardized regression coefficient of 0.391. 4.2. Discussion on research results Based on the results of the research project, the thesis presents the interpretation and discussion of research results according to the following contents: - Status of application and deployment of eCRM solution at Vietnamese commercial banks - Factors affecting successful implementation of eCRM solution at Vietnamese
22. 22 commercial banks - Impact of successful implementation of eCRM solution on customer relations effectiveness at Vietnamese commercial banks. 4.3. Propose solutions for the successful implementation of eRCM solution in Vietnamese commercial banks 4.3.1. Necessity of the successful implementation of eRCM solution in Vietnamese commercial banks eCRM solution for the commercial banks is a complex solution, with high cost of implementation, low rate of successful implementation even for large banks in the world. As can be seen from actual survey data about assessing successful implementation of eRCM solution in Vietnamese commercial banks which have implemented eCRM, the results obtain are given at a low level. Moreover, there are 7 factors affecting the successful implementation eCRM solution in Vietnamese commercial banks. This shows the urgent need to propose solutions which can impact on such factor to help Vietnamese commercial banks successfully implement eCRM solution. 4.3.2. Solutions for the successful implementation of eRCM solution in Vietnamese commercial banks 4.3.2.1. Solutions on eCRM strategies Clearly define visions of eCRM solution; fully determine objectives of eCRM solution; select partners providing, implementing eCRM solution appropriately; peform strategic communications of eRCM to internal section of the banks; establish a reasonable roadmap of eCRM solution implementation. 4.3.2.2. Solutions on human in the implementation process - Senior leaders of the banks: have good visibility on eCRM solution; participate in direct execution in the implementation process; undertake to provide maximum support during the implementation process. - eCRM implementation project team of the banks: fully involvement by personnel in functional parts; equip skills, experience and eCRM qualifications relating to various departments of the banks; being capable of better coordination with the consulting team.
23. 23 - eCRM solution consulting and implementation teams: Have experience in successfully deploying eCRM solution in the commercial banks; understand business operations of the banks; understand customers and eCRM of the banks; - Banking culture: promote cultural building and cooperation among employees; reflect focused-customer strategies in cultural activities of the banks. 4.3.2.3. Solutions on technology - Quality of customer data: it is crucial to build an updated, synchronized, comprehensive customer database; focus on building a database listening behavior and customers' demands; invest in building the data warehouse. - Technology infrastructure increase investment in infrastructure construction of modern banking technology; increase investment in development of modern banking channel; and boost banking digitization. 4.3.2.4. Recommendations for Vietnamese commercial banks to enhance the solutions Some recommendations for Vietnamese commercial banks to enhance the solutions are proposed to help such banks successfully deploy eCRM solution. 4.4. Contributions of the thesis The thesis synthesizes the contributions of the thesis in theoretical and practical terms. 4.5. Research limitations and follow-up research orientations The thesis points out some limitations and further research orientations. SUMMARY OF CHAPTER 4 In Chapter 4, the author presents and discusses the research results. Based on the research results, the author presents three solutions for Vietnamese commercial banks to successfully deploy the eCRM solution: "eCRM strategy solutions; Human solutions; Technology solutions". At the end of the chapter, the author finds by himself that the study still has some limitations and suggested further research orientations.
24. 24 CONCLUSIONS Fierce competition in the field of financial and banking sector today, along with the explosive development of technology, requires banks to apply technology to maximize the needs of customers. Customer-oriented business strategy is becoming the top priority strategy of the banks at present. The eCRM is considered a information system solution that draws lots of attention from a large number of commercial banks along with great interest and implementation with the expectation of increasing customer satisfaction with banking products and services as well as increasing the competitiveness of banks in the market.To successfully implement the eCRM solution at banks, however, there are many difficulties that the bank must face with. There is a large percentage of commercial banks failed to achieve the expected results. Therefore, how to successfully implement eCRM solution is a problem for Vietnamese commercial banks. In this context, the thesis assesses the current status of application and deployment of eCRM solution at Vietnamese commercial banks, thereby identifying the factors that affect the successful implementation of eCRM solution and verifying the relationship between the successful implementation of the eCRM solution and the customer relations effectiveness. Thanks to the combination of qualitative and quantitative research methods, the author conducts a survey and assessment of the current status of eCRM application and deployment at Vietnamese commercial banks and collects secondary data of commercial banks which have deployed the eCRM solution as well as carrying out a direct survey of 308 staffs, managers, experts involved in deploying the eCRM solution at 10 commercial banks as the basis for testing the hypotheses mentioned above. As shown by the results there are 07 factors and 24 measurement criteria affecting the successful implementation of eCRM solution at Vietnamese commercial banks in the order of eCRM strategies, Top Management Commitment, Data quality, eCRM project team, Consulting team, Technology infrastructure, banking culture. These criteria explain 51% of the variation of "successful implementation of eCRM solution". The results of quantitative research also show the relationship between the successful implementation of eCRM solution and the customer relations effectiveness at the commercial banks. Based on the results, 03 solutions are proposed for eCRM strategies; Human solutions; Technology solutions as the basis for commercial banks to successfully implement the eCRM solution.