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Anuncio de los artículos posteados en: Marzo 2015

At the Core

This article:



* Examines the ethics of storing and using customer information

* Discusses privacy as an essential business strategy

Today, every information manager and technologist faces the challenge and added responsibility of safeguarding the corporation's greatest asset: customer trust.

Technology has advanced to a state where collection, enhancement, and aggregation of data are instantaneous. Corporations now have the technology to analyze the finest details about each customer. They can determine the most profitable clients and tailor their marketing messages accordingly. Information can be collaborated upon across the enterprise so the customer hears a single voice.

While this ability is a positive development for the corporation and means better services for the client, it also adds a level of anxiety if the aggregation is not performed correctly and appropriately. As personalization and data collection technologies become more advanced, the expectations of consumers are shifting rapidly. Customers' patience levels are getting shorter and shorter. Mistakes are not quickly forgiven.



Privacy and customer permission have become the cornerstone to customer trust. Most importantly, trust has become the cornerstone to a continuing relationship. A recent IMG Strategies study reported that "having basic permission and privacy policies (e.g., an opt-in policy) is becoming just the price of entry for marketers as opposed to the differentiator it used to be a year earlier."

Enter CRM

Companies want to "know" their customers; customer relationship management (CRM) is the key to that knowledge. IDC Research estimated that the worldwide market for CRM applications would more than double between 2000 and 2005, from $6.23 billion to $14.04 billion. CRM, however, is more than technology, software, and hardware. The real essence of CRM is in the acronym itself: customer relationship management--the relationship between the customer and those who manage the dialogue with the customer.

The database has become the strategic enabler for developing and maintaining this relationship. The role of database management as the vehicle for customer interaction has become a central strategic issue that reaches far beyond technology. Establishing and maintaining customer trust must be consistent across all customers' touch points. Each piece of information made available at the various interactions with the customer must be made available throughout the enterprise.

The capability and role of the database in marketing has drastically changed in the last decade. In times past, organizations maintained numerous databases. Customer information was stored in accounting, customer service, service, shipping, sales, and marketing databases. Each of these contained information important to that department's function. Unfortunately, it was rare when even the account number was consistent across the various departments. To add to the complexity, the formats were not standardized, and access was limited. The customer was seen as fragmented pieces of information. It also was commonplace for customers to receive multiple pieces of correspondence about the same topic and to have to present information about their accounts each time they contacted the company.

The information age brought with it technology and innovation that enabled a blending of these diverse databases that provides companies a more complete picture of the customer.

Personalization

Personalization has emerged as one way to send the right message to the right person at the right time. Personalization brings with it the question of just how much information is too much. Corporations face the challenge of making appropriate information available at all customer touch points while protecting privacy at the same time. As a safeguard, sensitizing and training must occur at all levels of the organization. A company could have highly publicized privacy policies, but it only takes one bad interaction with a customer service representative to lose a customer.

Although personalization and privacy seem to be in conflict, the bottom line is that personalization benefits all involved: company, customer, and supplier. It gives the company a way to serve the customer better. Better service means better customer retention. Commonly, a five percent increase in customer retention can translate into a 25- to 125-percent increase in company profitability in the business-to-business marketplace, according to Fred Reichheld's book, The Loyalty Effect.

The customer gets products and services tailored to his or her preference. No longer do consumers have to provide information over and over to the companies they do business with. And suppliers can control their inventories and product development cycles.

Author Bruce Kasanoff sums up the seeming inconsistency between service and privacy: "It is a strange time. Privacy advocates are up in arms, but most people still are more upset over what companies forget about them than what they remember."

There is no lack of creativity in the application of technology to customer services. Some of the most significant advances in CRM can be found in the travel industry. Airlines, for example, closely track passenger history and preferences to better serve customers. One airline, for example, has begun using flight information to have travelers' cars ready at valet parking when they return from a trip. Changes in flight information can be sent via e-mail to a personal digital assistant (PDA) or cellular phone. In the future, flight delays can be reported directly to a destination hotel.

Privacy and Business Strategy

Privacy has become a top-down business strategy. At executive levels, companies are introducing the new position of chief privacy officer (CPO). (Editor's Note: Also see article by Pemberton, page 57.) CPOs serve as a liaison between the corporation and consumer. They often have veto power over product launches, marketing campaigns or strategic partnerships that they feel would interfere with the privacy of customers, employees, or suppliers.

Due to the never-ending media coverage of the legal aspect of consumer privacy, people are more aware of the types of information being collected about them. Most people, however, do not mind revealing personal information if it is used to better serve their needs and makes their interaction with a given company more convenient. A recent study conducted by Ipsos-Reid, a research and polling firm, reported that 47 percent of adults aged 18 to 34 have visited health-related Web sites and provided personal information, and 42 percent of those 35 to 54 years old have done so. Several of the most popular information-gathering and distribution sites on the Web are actually those of state governments. The sites contain information on everything from local government rules and regulations to birth, death, adoption, and marriage records.

Use with Caution

Employees and employers must become the custodians of customer trust and protect the privacy of their customers. They must learn to think beyond the proverbial box about the implications of the process of collecting and using information. Some organizations, however, are still learning how to apply CRM techniques appropriately as well as effectively. A dental group, for example, decided to apply personalization and database marketing techniques to send reminder postcards to current clients. Each postcard was properly personalized with the client information, including the amount of money toward dental care that they still had available from their insurance provider. Although technology was applied effectively, recipients were not pleased to see their personal information printed on postcards that could be read by postal carriers and anyone else handling the mail.

The customer relationship is built on more than the pieces of data and collected history. Merely collecting data and storing it in data warehouses can be a tremendous waste of corporate resources. Personalization and database marketing--conducted correctly--serve both the organizations and the customers.

Business cultures must grasp the concept that every single point of contact within the organization and throughout the supply chain is a key to the success of customer relationships. Technology is merely the enabler. The application of the technology--based on understanding the impact each and every dialogue has on the total customer relationship--is quickly becoming the highest priority within corporations. Businesses no longer focus on product share alone. The shift has moved toward customer share. This trend shows no sign of slowing down.

References

Kasanoff, Bruce. Making it Personal: How to Profit from Personalization Without Invading Privacy. Cambridge, MA: Perseus Books, 2001.

Reichheld, Fred. The Loyalty Effect. Cambridge, MA: Harvard Business School Press, 1996.

Debbie A. Cannon is President of DAC Enterprises, a firm that specializes in database management as well as one-to-one marketing. She may be reached at [email protected]

COPYRIGHT 2002 Association of Records Managers Administrators (ARMA)

No portion of this article can be reproduced without the express written permission from the copyright holder.

Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Admin · 74 vistas · Escribir un comentario
29 Mar 2015
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Admin · 54 vistas · Escribir un comentario
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Arriving at that time for many people requires a mortgage, even though purchasing a home is a good time in anyone's life. This is why things can get complicated and delay the whole process of you actually purchasing your dream home. Don't hold off until it can be far too late, begin now by reading these article that shows what is required to get approved for any mortgage loan.




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Will not waste time in your house mortgage process. After you've submitted a home financing application for the lender, this is when your clock start ticking. You need to send any necessary documents for the application process quickly. Any delays could destroy a purchase and cost you your deposit. Have an expected closing date, then communicate with the financial institution periodically until your loan closes. Some lenders close quicker as opposed to others.


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Impress your mortgage lender by having a precise concept of the terms that fit your financial allowance prior to deciding to submit a home loan application. Really know what your maximum monthly instalment may be without bankrupting you. If you cannot afford it, you will almost certainly enter into financial trouble, regardless how good the property you chose is.


Base your anticipated mortgage on what you are able actually manage to pay, not solely about what a lender preapproves you for. Some mortgage companies, when pleased about the credit score and history they review, will approve for over exactly what a party can reasonably afford. Use this for leverage, but don't go into a mortgage loan that's too big to your budget.


Read about the three main types of mortgage options. Three of the choices are a balloon mortgage, a fixed-rate mortgage, plus an adjustable-rate mortgage (ARM). Each one of these kinds of mortgages has different terms and you would like to know this information prior to making a choice regarding what meets your needs.


You may be so enthusiastic about receiving a new home that you go out and commence buying all kinds of furniture. Until you are paying for the furniture in cash, you must hold off for this. You don't want to open any lines of credit or make any large purchases until after the loan is closed.


Learn about the background of the home you are purchasing, prior to signing in the dotted line of your house mortgage. There are lots of things sellers and lenders are not needed to disclose that you could find relevant. knowing whether your new home was the scene of any gruesome murder might be something you want to know before agreeing to buy.


Before you sign by using a mortgage lender, monitor rates. In the event the rates are already dropping recently, it can be worth holding off with the mortgage loan for a couple of months to ascertain if you receive a better rate. Yes, it's a gamble, but it really provides the potential to save a lot of money within the life of the money.


In case you have a bit more money to place on a house, consider acquiring a conventional mortgage instead of an FHA mortgage. Excessive fees that are added to the cost of the mortgage, though fHA mortgages have lower down payments. In order to be qualified to receive an FHA loan, save up at the very least 5 percent.


Keep your credit history in good condition by always paying your debts on time. Avoid negative reporting on your own score by staying current on your obligations, even your utility bills. Do sign up for credit cards at department shops even if you have a discount. You can build a good credit rating by utilizing cards and paying them off each and every month.


Understand fees and cost that happen to be typically connected with a home mortgage. Home mortgage closing documents are usually full of odd expenses and expenses. It could really feel daunting. However, together with the proper legwork, you are able to both talk the walk and talk the walk.


You should be demonstrably responsible to get a mortgage. What this means is you have to have a great job that pays for your way of life with money to spare. Not just that, you have to have been at the job for a few years or maybe more, and you also should be a great employee. The property mortgage clients are entering into a long term relationship with you, and they would like to know you are willing to commit seriously!


Enquire about making bi-weekly payments to get rid of your mortgage faster. This really is a terrific way to ensure you own the house faster. Alternatively, no less than owe less when you decide to promote the home. Paying back your house sooner relieves the strain of having to help make payments when you are older.




By selecting a lender who proposes to finance without any closing costs, you save cash on a mortgage. Closing pricing is a significant component of a mortgage loan. To compensate for that lost money, however, the lenders can make up it in many other way. Usually having a slightly higher monthly interest.


The very last thing you want to do is usually to sign the paper for your mortgage and days or months later discover you crafted a really bad mistake. Instead, you wish to feel safe which you have made a very good decision. Progress using the tips which have been given to you together with choose wisely.




What You Ought To Know For Personal Finance Health


Managing your own finances is imperative for just about any adult, in particular those with children or some other dependents. By creating shopping budgets and lists, make the most of your income and quit unncecessary spending. Look at this article for further guidelines on how to spend your earnings within a wise manner.


Start putting that difference away each month when you have determined that your particular budget for a property mortgage is bigger than your current rent payment. This gives you a true-world idea of what that cost does in your cost of living. It can also help you build up savings towards your advance payment.


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In spite of careful financial planning, a budgeting crisis still may appear. A part of good planning is being aware of your bills' due dates and just what the consequences are for late payments. Research prices before signing up for the 1 year lease.


Shopping around when coming up with a major purchase is the easiest way to guarantee that you are receiving the most for the money. It will always be a good idea to have a look at several brands and retailers when it comes to an order. You may would like to wait over a big sale to make a purchase to conserve yourself sometimes hundreds of dollars!


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While in doubt about borrowing money-don't. Interest is very expensive, adding approximately 20% or even more to the purchases, which is the same as making 20% less cash! Whenever you can try to save up for any purchase on your own, and get it later rather than taking out financing to get it now.


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A fantastic tip which can help you with the finances would be to start a bank checking account. Checking accounts are great mainly because they enable you to store money without paying any interest. Seek advice from different banks to see which bank has the best bank account for you personally.


If you realise yourself in need of your own loan, but are confronted by banks which are generally unwilling to make them, you should gather documents that prove that you will be a small-risk credit consumer. This may include favorable payment records on car financing or credit card companies, and also paycheck stubs from your stable employer.


Always keep your charge card agreement amendments and documentation. These detail the terms of your contracts. You should read them, but even if you don't, file them inside a marked folder to enable you to reference them later. Having these documents where you can find them will help you to eliminate any points you could be confused about in case the need arise.


Without thorough knowledge and understanding of matters pertaining to personal finance, life can be tough indeed. To ready help yourself for any eventuality, acquiring a strong body of knowledge is the key. By utilizing the guidance and concepts contained above you will have the equipment necessary to build a durable financial future.

Admin · 48 vistas · Escribir un comentario
22 Mar 2015
Every American dreams to have the right home of his or her own. If you are searching for your first home however they are unclear about the mortgage financing process, this is basically the perfect article for yourself. Make use of the information within the following paragraphs to discover the key tips you need to understand to help you get a whole lot in your mortgage financing.


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Start preparing for your home loan process early. Obtain your budget completed along with your financial documents at your fingertips. This simply means organizing documentation, getting debt in check and saving for a payment in advance as well as other initial costs. You operate the potential risk of your mortgage getting denied if you don't have everything in order.


Try getting pre-approved for your personal mortgage. It helps do you know what you're in a position to spend prior to bid on properties. It also helps you avoid getting connected to a house that is out of your cost range. The procedure is generally simple: you speak to a mortgage company, submit the individual and financial information, then watch for their response. Some information in this particular process will incorporate the amount you can afford and your loan's interest rate. You may be given a pre-approval letter from the lender, and after that you'll get the funds once the seller accepts the bid. Your pre-approval process might not be this straightforward, but it can be.


Should your mortgage is approved, avoid any moves which may change your credit score. Prior to the closing and then any suspicious activity may affect your interest rate, your lender might run an additional credit check. Don't close bank card accounts or obtain any extra loans. Pay every bill by the due date.




Before buying a new house, get pre-approved to get a home mortgage. There is nothing worse than locating the perfect house, only to discover that you simply can't get approved to get a mortgage. By permitting pre-approved, you know exactly how much you can afford. Additionally, your offer will be more popular with a seller.




Will not waste time at home mortgage process. After you've submitted a home financing application to the lender, this is where your clock start ticking. You will need to send any necessary documents for your application process quickly. Any delays could destroy a cost and get you your deposit. Purchase an expected closing date, and then communicate with the lending company periodically until the loan closes. Some lenders close quicker than others.


Have a credit report. It is important to understand your credit rating before starting any financial undertaking. Order reports from all 3 of the major credit rating agencies. Compare them to check out any erroneous information which may appear. Once you have a good understanding of your ratings, you will understand what you should expect from lenders .


Never sign anything without speaking to a lawyer first. Legislation fails to fully protect you the shrewd practices that numerous banks are prepared to take part in. Using a lawyer on your side can save you thousands of dollars, and possibly your financial future. Make sure to obtain the right advice before proceeding.


Ensure you pay down any debts and steer clear of new ones whilst in the procedure of getting approved to get a home mortgage. They evaluate the debt to income ratio, before a lender approves you for the mortgage. If your debt ratio is just too high, the loan originator can provide you with a lower mortgage or deny a loan.


mortgage lenders maryland

This is the time to do it if you are thinking about refinancing. Will not procrastinate. When rates drop, you have to get in whilst they are low. While rates may stay low to get a little while, they are going to eventually climb. So will not delay when rates of interest are low and go ahead and refinance.


Pay off or lower the amount owed on the bank cards before applying for the mortgage loan. Although your credit card balances do not possess to become zero, you should have a maximum of 50 % of your available credit charged on each visa or mastercard. This shows lenders that you are currently a wise credit user.


Do not close out any credit card accounts when you are in the middle of applying for a mortgage loan. This will likely negatively impact you since all of your credit cards were used when determining your eligibility for a mortgage loan. If you want to close your bank account for any excuse, hold back until the borrowed funds process has finished.


Remember, no mortgage is "a lock" until you've closed in the home. Several things may affect your own home mortgage around that point, such as a second check of your respective credit, work loss, and other types of new information. Maintain your finances in balance between loan approval along with the close to make certain everything goes as planned.


Be sure you include it in your budget calculations as being a homeowner if you have previously been a renter where maintenance was included in the rent. A good guideline is to dedicate one, two and even three perecent from the home's market price annually towards maintenance. This ought to be enough to maintain the property up after a while.


In case you are a retired person at the same time of getting a mortgage loan, obtain a 30 year fixed loan if you can. Despite the fact that your home may never be paid off in your lifetime, your payments will likely be lower. Since you will certainly be living on a fixed income, it is vital that your payments stay only possible and you should not change.


Remember that it requires time to have a mortgage closed therefore, it is important to include the required time inside the sales agreement for the borrowed funds to close. Although it may be tempting to say the sale will be closed within thirty days, it is best to use a 60 or 90 day timeframe.


Compare brokers on multiple factors. Obviously, an effective monthly interest is the place you want to start. Additionally, you should think of the types of loans available. There are numerous other aspects to consider before deciding on that loan. Such as the closing costs, downpayment and lender commissions.


You save money a home financing by using a lender who proposes to finance without having closing costs. Closing prices are an important component of a mortgage. To compensate for that lost money, however, lenders can certainly make up it in certain other way. Usually with a slightly higher rate of interest.


Virtually all Americans dream to possess a residence that belongs to them, as was stated earlier on this page. In case you are in the process of trying to find the first home, take advantage of this article to coach yourself on mortgage financing. By carefully reviewing the ideas in the following paragraphs you may get a good deal in your mortgage.


Fantastic Suggestions To Try For Your Personal Finance Needs


Should you be over a limited income, isn't easy, managing your funds, especially. If you are planning to prevent going into debt or worse, it is essential, however. The advice on this page can help you manage your spending and allow you to avoid becoming a charge card debt statistic.


By utilizing coupons anytime you can anybody can take full advantage of their personal finances. Using coupons can save money that would have been spent with no coupon. When thinking about the savings as bonus money it might soon add up to a monthly phone or cable bill that is repaid with this particular bonus money.


Steer clear of payday loans if possible. It costs ridiculous amounts of interest and might trap you in to a revolving door of renewing them any time you can't manage to pay it off. Examine other options, including asking friends and family for help, before going for a pay day loan.




Try to avoiding with your charge card unless it is absolutely necessary. For smaller purchases, go the bucks route. New legislation allows stores to require credit cards a minimum of $10 for transactions. Be sure to carry cash or a debit card if you intend to produce under $10 in purchases.




If you reside near a group of employees that you deal with, form a carpool. This will allow you to save on gas, reducing one of the expenses dramatically on the year. Carpooling is not only fun, but a wonderful way to implement being a money management tool for your year's expenses.


When you don't have to think about it, so it could be a good plan to set up your direct deposit to ensure that a definite amount of each paycheck is automatically put into your savings account, it's often easier to save money. By doing this you don't need to bother about remembering to transfer the amount of money.


Breeding birds can yield one great numbers of money to improve that persons personal finances. Birds which are especially valuable or rare in the pet trade can be especially lucrative for an individual to breed. Different breeds of Macaws, African Greys, and many parrots can all produce baby birds worth more than a hundred dollars each.


Look hard on your current spending patterns if you want to cut costs. Actually doing it requires some self-discipline as well as a little detective work, though it is possible to theoretically "wish" you might reduce costs. For starters month, take note of your expenses inside a notebook. Commit to writing down everything, for example, morning coffee, taxi fare or pizza delivery for your kids. The greater specific and accurate you might be, then this better understanding you will get for where your hard earned money is absolutely going. Knowledge is power! Scrutinize your log at the end of the month to discover the areas you are able to minimize and bank the savings. Small changes soon add up to big dollars with time, but you should make the effort.


Speaking with a family member who works in or once worked within a finance related profession might help one learn to manage their own personal finances. If someone doesn't know any finance professionals, a great substitute is actually a family member or friend who is especially good because of their finances.


Whether your main goal is to pay off a couple of bills, have yourself from serious debt, or perhaps develop your savings account, you have to know where your money is going. Track your expenses for the past couple of weeks or months to get a good sense of where your money is certainly going now.




Shopping around when creating a huge purchase is the best way to guarantee you are receiving the most for your investment. It is usually a good idea to have a look at several brands and retailers when considering a purchase. You may want to wait on a big sale to create a purchase in order to save yourself sometimes several hundred dollars!


It is better to employ person who charges a flat fee instead of commissions if you require a financial planner. Fee-based planners charge a set total inform you and invest your funds, but commission-based planners receive money when they trade for your personal account. This may give commission-based planners an incentive to trade your holdings excessively, boosting your costs.


Look for a high-yield bank account to produce your money work for you. While many of these accounts will not yield the interest they did a few years ago, most of them usually do not demand a minimum deposit and will provide you with a little bit of return on your own money. Additionally, they may be more liquid than investments, leading them to be a good destination to stash your emergency fund.


If you have the drive to pay for something you hadn't budgeted for, redirect the cash into the bank account instead. When you're tempted in a store to buy something you don't really need, take into consideration simply how much better it would be to make use of that money to spend down your debt. With the first chance you will get, add the money you had been about to splurge with, into the bank account.


Have your banking account set up so that a percentage of the income is automatically moved to your savings account on a regular basis. This can position the money unattainable and from your mind so that you will won't attempt to pay it. You may decide what you can afford, but make sure that the funds is taken on the same day each month or per week.


Don't automatically get the biggest containers of any product thinking you will be saving cash. While that is frequently the rule frequently an assessment from the per unit cost of a product will show that it is actually exactly the same between bigger and smaller containers, as well as that you would actually save by buying smaller quantity!


Remember you need to have credit to get credit. Everyone ought to have one charge card they use and pay off completely monthly to prevent finance charges. Lenders find out you could manage a little debt and will probably provide you with larger loans for large purchases like a new house, though it takes discipline.


Learning to deal with personal finances effectively can be a skill which you can use throughout life. These tips can assist anyone on their own quest for a stable financial life. Getting personal finances in check can be best for one's credit and one's capacity to buy things, and the process could make life better overall.

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21 Mar 2015

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