Formulation and implementation of CRM for service firms

The present economic situation has necessitated the acquisition of competent tools and technologies such as CRM by organizations to enable them to monitor and optimize each customer interaction in order to maximize return on investment, to improve customer retention and to gain customer loyalty. The firm under investigation in this paper, Bangladesh Online Limited (BOL) is a hardware and software firm, registered in Bangladesh. It is an SME that is growing and has plans for future expansion. This paper is aimed at solving some challenges experienced by a Bangladeshi service firm. The practical implementation of the paper was approached using the Agile Project management technique for software development projects. This approach involved several iterative tasks which are conceived and executed in a very adaptive way. The theoretical aspect of this paper involved the use of the internet and literature in the field. The authors expect that this paper will be a useful reference on this recent issue (CRM) in business.