CFocus and Telecel announce the formation of a joint venture company – CELFOCUS – to develop and commercialise Customer Relationship Management (CRM) solutions for telecommunications companies both nationally and internationally.
CFocus will own approximately 55% of the share capital of CELFOCUS with Telecel owning 45%. CELFOCUS starts with an initial contract providing services to Telecel with a value of PTE 750 million (EUR 3.74 million). This contract may later be extended to include services to other Vodafone Group network operators.
According to research undertaken by Mentor IT, which is based upon data collated by AMR Research, Inc., the CRM world market for telecommunications is expected to be valued at 3,170 million euros in 2001 and 6,745 million euros by 2003. The estimate for the European market for the years 2001 and 2003 are 850 million euros and 1,735 million euros respectively.
CRM (Customer Relationship Management) is a customer relationship philosophy supported by technology that allows companies to gain knowledge of their customer’s needs, consumption behaviour and preferences. Whatever the channel of contact between the Customer and the company, CRM applications centralise all the information in just one point, combining it in a way that allows the company to adapt its offer to suit of customer needs, whilst continuously improving the services it provides.