Addressing a press conference, Infosys senior vice president and banking business unit head Girish G Vaidya along with Pepper and Rogers (Asia) founder and chairman Tim Tyler said the global CRM spending was expected to touch nearly $20 billion by the year 2005 despite the current disillusionment in the market.
Out of this banking and financial services was expected to account for 32.7 per cent of the business. Mr Vaidya and Mr Tyler said that the next wave of growth will be shaped by vertical specific CRM products.
The era of generic CRM products are over. The current disillusionment with the CRM was symptomatic of the disappointment over generic products available in the market, they added.
Mr Vaidya said that banking CRM product area was not much crowded. However, he refused to provide any indication of revenue targets from this initiative. Though Mr Vaidya said that the focus of the Finacle CRM will be the global market, he did not rule out the growing opportunities emerging in the domestic market.
Mr Tyler identified the major drivers of banking CRM software as personalised service, personalised products and relevance to customer needs, especially for high net worth individuals. Finacle CRM is a solution specially designed for banking. It covers end-to-end sales, marketing and support functionality with powerful interfacing capabilities to multiple systems like back office, treasury and telephony.