The application of Structural Equation Model in analyzing factors affecting of Successful Implementation of Electric Customer Relationship Management in the Commercial Bank of Viet Nam

Abstract

Customer-centric strategy is considered the top priority strategy of Vietnamese banks today. Comprehensive
understanding about customer behavior, needs, and benefits is the foundation for sustainable competitive
advantage through the identification, evaluation of opportunities, improvement and maintenance of good customer
relationships, increase in customer value at the same time to create a lasting relationship. The successful
deployment of electronic customer relationship management is eagerly anticipated by banks as the best solution
to increase customer understanding and reach the bank competitiveness. However, the deployment of eCRM
at banks around the world as well as in Vietnam often shows a relatively low rate of success due to the fact that
eCRM solution is a large, complex, high cost and risky in the course of implementation Banks that have deployed
eCRM often fail to achieve the expected results. With the use of a structural equation model throughout the
research, the author analyzes factors that affect the successful deployment of eCRM solutions in Vietnamese
commercial banks, thereby recommending necessary resources to be well prepared before deploying eCRM
solution.