A CRM Performance Measurement in Banking Using Integrated BSC and Customized ANP-BOCR Approach

  • Vesna Tornjanski University of Belgrade, Faculty of Organizational Sciences
  • Snežana Knežević University of Belgrade, Faculty of Organizational Sciences
  • Boris Delibašić University of Belgrade, Faculty of Organizational Sciences

Abstract

The paper deals with the CRM performance measurement in the banking sectors of Serbia, Greece and India, using the integrated BSC and the customized ANP-BOCR approach. The BSC is used to develop and identify key financial and non-financial indicators attempting to holistically consider all related aspects on successful application of customer relationship management in banking. The customized ANP-BOCR model aims to prioritize the corresponding indicators to obtain more realistic performance results through the controlled hierarchy in the BOCR model. This study extends and deepens the performance measurement methodology based on the ANP-BOCR model and introduces a novel approach that is based on measuring scale customization, aiming at overcoming the major disadvantage of the original ANP-BOCR method which refers to the pair-comparison process. Thus, it provides a simple, efficient and effective way of data collection in geographically distant territories. The research findings depict poorly developed aspects of CRM in banking, that is, those indicators that may require further improvement to achieve outstanding organizational performances. Finally, the study shows that the applied methodological approach can be useful for benchmarking purposes in geographically distant territories, which further implies facilitating of strategies development towards achieving excellence in business. This paper can contribute to strategic management, financial management, innovation management, IT management and business decision-making in service organizations.
JEL Classification: G21, L25, M20, C44, C83

Author Biographies

Vesna Tornjanski, University of Belgrade, Faculty of Organizational Sciences

Vesna Tornjanski is PhD candidate at the University of Belgrade – Faculty of Organizational Sciences, Serbia. She works at Eurobank a.d. Belgrade. Her interests lie in the area of organizational development, service design and business excellence, innovation and technology management, financial management and business decisionmaking. Her research profile is available at: https://www.researchgate.net/profile/Vesna_Tornjanski

Snežana Knežević, University of Belgrade, Faculty of Organizational Sciences

Snežana Knežević is associate professor of Financial Management at the Her research interests lie in finance, accounting and environmental protection. Her research profile is available at: https://www.researchgate.net/profile/Snezana_Knezevic

Boris Delibašić, University of Belgrade, Faculty of Organizational Sciences

Boris Delibašić is associate professor of Business Decision-Making at the University of Belgrade - Faculty of Organizational Sciences, Serbia. His research interests lie in business intelligence, data mining and decision support systems. His research profile is available at: https://www.researchgate.net/profile/Boris_Delibasic

Published
2017-05-16
How to Cite
Tornjanski, V., Knežević, S., & Delibašić, B. (2017). A CRM Performance Measurement in Banking Using Integrated BSC and Customized ANP-BOCR Approach. Management: Journal Of Sustainable Business And Management Solutions In Emerging Economies, 22(1), 71-85. doi:10.7595/management.fon.2017.0004
Section
Articles