Enhancing Organizational Competitive Advantage through Integration of Customer Relationship Management (CRM) and Knowledge Management (KM)

In the advanced economy of the 21st century, the visions of organizations have been shifted to value creation and relationship management. Customer relationship management is a discriminating business technique in obtaining competitive advantages. The omnipresence of the Internet has changed the way today companies are led. Ongoing CRM is getting to be progressively noteworthy to empower the spryness of organizations to give fast, precise and complete responses to client needs.

The objectives of customer relationship management (CRM) and knowledge management (KM) are same. CRM aims at the management of relationship between an organization and its existing and future customer data as a key for gaining competitive advantage, while KM utilizes the information base of an organization as a key success factor. This paper looks at the structural integration CRM with information empowered KM (KM) and how it can be utilized for converting one time customer into a loyal, lifetime customer to remain ahead in competition.