CUSTOMER RELATIONSHIP
MANAGEMENT
(Summer Internship Project)
{May-June 2009}For
Submitted By:
-Tushar H Sevak (Roll No. F-52)
Mohit M. Bhendarkar (Roll No. D- 08)
Under the Guidance of :
Mr. Jicky Thomas
(Product & Branch Head)Institute of Business Management & Research
8/182, Sunrise Park, Near ASIA School, Driven In Road, Ahmedabad - 380054. Ph. : 079-26858717 / 40052917
INDEX
Particular
Page No.
1.
Introduction of the CRM
52.
Objective of the CRM
16
3.
Research Methodology
19
4.
Literature Review
24
Training
42
Importance & Needs of
Training
42
Types of Training Methods of Training43
Recommendation & Conclusion46
Training Adopted by us at Angel47
Training Under Different
Departments
48
Problems Faced at the Time
of Training
50
Suggestions to Improve
51
5.
Industry Analysis
Industry Analysis at Indian
Level
51
Past Performance
62
SWOT Analysis
69
Major Players in the Industry
76
Products & Services
80
7.
Limitations
94
8.
Findings
95
9.
Suggestions
97
10.Bibliography
98
Preface
The Summer program offered by the IBMR College, is an enlightening course for those who are wishing to master their Business administration skills, with their knowledge. This is an unique course which is the collaboration of MBA. It not only developes your management talent but also develop your technical skill. It imparts the necessary theoretical knowledge about the field but also provides an opportunity to practically experience the application of the business administration fundamentals in the corporate as well as the non-corporate sector.
I was unaware about the role of exchanges and depositories in the secondary market. Here I really got practical knowledge about the role of SEBI, NSE, and BSE etc. in the secondary market. Now I am aware about the buying and selling system in the secondary market through broking firm or sub-broker. I am very much thankful to Mr. Jicky Thomas, Branch & Product Head, main branch Mahalaya complex C. G. Road, Ahmedabad.
I therefore have pleasure to present my training report, which, I hope as per the curriculum requirements.
Acknowledgement
“There is no such thing as a self made man, we all are made up thousands of others” – George Adams.
I am indebted to my faculty, the Faculty of Social Work for providing the students an opportunity to experience the practical working of the knowledge imparted to us theoretically.
I am grateful to Angel Broking Limited for allowing me to undertake my summer training in the organization. To mention, I would like to extend my gratitude
towards-Mr. Harshit Bhavsar (Business Development Head) Mr. Viral Kapadia (Business Development Manager)
They helped me during my entire training program. I would also like to thank Mr. Jicky Thomas and Mrs. Pankti shah who facilitated me in my practical learning.
Before we begin to examine the conceptual foundations of CRM, it will be useful to define, what is CRM? A narrow perspective of customer relationship management is database marketing emphasizing the promotional aspects of marketing linked to database efforts. Another narrow, yet relevant, viewpoint is to consider CRM only as customer retention in which a variety of after marketing tactics is used for customer bonding or staying in touch after the sale is made. Shani and Chalasani define relationship marketing as “an integrated effort to identify, maintain, and build up a network with individuals consumers and to continuously strengthen the network for mutual benefit of both sides, through interactive, individualized and value-added contacts over a period of time”. The core theme of all CRM and relationship marketing perspectives is its focus on co-operative and collaborative relationships between the firm and its customers, and/or other marketing actors.
CRM is based on the premise that, by having a better understanding of the customers’ needs and desires we can keep them longer and sell more to them.
Growth Strategies International (GSI) performed a statistical analysis of Customer satisfaction data encompassing the findings of over 7,000+ customer surveys conducted by Angel Broking Ltd.
CRM (customer relationship management) is an information industry term for methodologies, software, and usually Internet capabilities that help an enterprise manage customer relationships in an organized way. For example, an enterprise might build a database about its customers that described relationships in sufficient detail so that management, salespeople, people providing service, and perhaps the customer directly could access information, match customer needs with product plans and offerings, remind customers of service requirements, know what other products a customer had purchased, and so forth.
The essence of the information technology revolution and, in particular, the World Wide Web is the opportunity to build better relationships with customers than has been previously possible in the offline world. By combining the abilities to respond directly to customer requests and to provide the customer with a highly
interactive, customized experience, companies have a greater ability today to establish, nurture, and sustain long-term customer relationships than ever before. The ultimate goal is to transform these relationships into greater profitability by increasing repeat purchase rates and reducing customer acquisition costs. Indeed, this revolution in customer relationship management or CRM.1 as it is called, has been referred to as the new “mantra” of marketing.2 Companies like Siebel, E.piphany, Oracle, Broadvision, Net Perceptions, Kana and others have filled this CRM space with products that do everything from track customer behavior on the Web to predicting their future moves to sending direct e-mail communications. This has created a worldwide market for CRM products and services of $34 billion in 1999 and which is forecasted by IDC to grow to $125 billion by 2004.3 The need to better understand customer behavior and focus on those customers who can deliver long-term profits has changed how marketers view the world.
Traditionally, marketers have been trained to acquire customers, either new ones who have not bought the product category before or those who are currently competitors’ customers. This has required heavy doses of mass advertising and price-oriented promotions to customers and channel members. Today, the tone of the conversation has changed from customer acquisition to retention. This requires a different mindset and a 3 different and new set of tools. A good thought experiment for an executive audience is to ask them how much they spend and/or focus on acquisition versus retention activities.
While it is difficult to perfectly distinguish the two activities from each other, the answer is usually that acquisition dominates retention.
According to one industry view, CRM consists of:
Helping an enterprise to enable its marketing departments to
campaigns with clear goals and objectives, and generate quality leads for the sales team.
Assisting the organization to improve telesales, account, and
sales management by optimizing information shared by multiple employees, and streamlining existing processes (for example, taking orders using mobile devices)
Allowing the formation of individualized relationships with
customers, with the aimof improving customer satisfaction and maximizing profits; identifying the most profitable customers and providing them the highest level of service.
Providing employees with the information and processes
necessary to know their customers, understand their needs, and effectively build relationships between the company, its customer base, and distribution partners.
CRM--Customer Relationship Management--has entered the mainstream. Despite the uncertainty of the economy, CRM is being thrust into corporate budgets and talked about as a critical initiative by hundreds of Fortune 1,000 and tens of thousands of other companies. It has gone from being an important edge in the business world to a necessary tool for survival. The notion of the customer as king or queen is once again the rule. How you treat this is a mission-critical business issue.
But, what is CRM and how does it change the way companies do business? The changes in the world have been so dynamic and so dramatic that the path is not necessarily all that obvious. How CRM impacts that business path is a continuing source of debate in the world of corporate management.
Managing relationships with customers has become a critical organizational competency. Get winning strategies for acquiring and retaining customers by leveraging the latest advanced technologies. This course will teach you how to select the right tools for your business-- so it can grow today--and on into the future. Lagging means lost customers, which means damage to the bottom line. But how do you not lag when customers are moving lightning fast to demand constant changes in the speed to complete their
transactions? How do you keep your customers when the move to another company is nothing more than a mouse click and a minute away?
CRM is the answer. Customer Relationship Management, a strategy that leverages very advanced technologies is the way to cut to the 21st Century business chase.
History of CRM
Customer Relationship Management (CRM) is one of those magnificent concepts that swept the business world in the 1990’s with the promise of forever changing the way businesses small and large interacted with their customer bases. In the short term, however, it proved to be an unwieldy process that was better in theory than in practice for a variety of reasons. First among these was that it was simply so difficult and expensive to track and keep the high volume of
records needed accurately and constantly update them. In the last several years, however, newer software systems and advanced tracking features have vastly improved CRM capabilities and the real promise of CRM is becoming a reality. As the price of newer, more customizable Internet solutions have hit the marketplace; competition has driven the prices down so that even relatively small businesses are reaping the benefits of some custom CRM programs. In the beginning…
The 1980’s saw the emergence of database marketing, which was simply a catch phrase to define the practice of setting up customer service groups to speak individually to all of a company’s customers. In the case of larger, key clients it was a valuable tool for keeping the lines of communication open and tailoring service to the clients needs. In the case of smaller clients, however, it tended to provide repetitive, survey-like information that cluttered databases and didn’t provide much insight. As companies began tracking database information, they realized that the bare bones were all that was needed in most cases: what they buy regularly, what they spend, what they do.
Advances in the 1990’s
In the 1990’s companies began to improve on Customer Relationship Management by making it more of a two-way street. Instead of simply gathering data for their own use, they began giving back to their customers not only in terms of the obvious goal of improved customer service, but in incentives, gifts and other perks for customer loyalty. This was the beginning of the now familiar frequent flyer programs, bonus points on credit cards and a host of other resources that are based on CRM tracking 3333 customer activity and spending patterns. CRM was now being used as a way to increase sales passively as well as through active improvement of customer service.
Real Customer Relationship Management as it’s thought of today really began in earnest in the early years of this century. As software companies began releasing newer, more advanced solutions that were customizable across industries, it became feasible to really use the information in a dynamic way. Instead of feeding information into a static database for future reference, CRM became a way to continuously update understanding of customer needs and behavior. Branching of information, sub-folders, and custom tailored features enabled companies to break down information into smaller subsets so that they could evaluate not only concrete statistics, but information on the motivation and reactions of customers. The Internet provided a huge boon to the development of these huge databases by enabling offsite information storage, where before companies had difficulty supporting the enormous amounts of information. The Internet provided new possibilities and CRM took off as providers began moving toward Internet solutions. With the increased fluidity of these programs came a less rigid relationship between sales, customer service and marketing. CRM enabled the development of new strategies for more cooperative work between these different divisions through shared information and understanding, leading to increased customer satisfaction from order to end product.
Today, CRM is still utilized most frequently by companies that rely heavily on two distinct features: customer service or technology. The three sectors of business that rely most heavily on CRM -- and use it to great advantage -- are financial services, a variety of high tech corporations and the telecommunications industry. The financial services industry in particular tracks the level of client satisfaction and what customers are looking for in terms of changes and personalized features. They also track changes in investment habits and spending patterns as the economy shifts. Software specific to the industry can give financial service providers truly impressive feedback in these areas.
In recent years however, several factors have contributed to the rapid development and evolution of CRM. These include:
-1. The growing de-intermediation process in many industries due to the advent of sophisticated computer and telecommunication technologies that allow producers to directly interact with
end-customers. For example, in many industries such as airlines, banks insurance, software or household appliances and even consumables, the de-intermediation process is fast changing the nature of marketing and consequently making relationship marketing more popular. Databases and direct marketing tools give them the means to individualize their marketing efforts.
2. Advances in information technology, networking and manufacturing technology have helped companies to quickly match competition. As a result product quality and cost are no longer significant competitive advantages.
3. The growth in service economy. Since services are typically produced and delivered at the same institution, it minimizes the role of the middlemen.
4. Another force driving the adoption of CRM has been the total
quality movement. When companies embraced TQM it became
necessary to involve customers and suppliers in implementing the program at all levels of the value chain. This needed close working relationships with the customers. Thus several companies such as Motorola, IBM, General Motors, Xerox, Ford, Toyota, etc formed partnering relations with suppliers and customers to practice TQM. Other programs such as JIT and MRP also made use of interdependent relationships between suppliers and customers.
5. Customer expectations are changing almost on a daily basis. Newly empowered customers, who choose, how to communicate with the companies’ various available channels? Also nowadays consumers expect a high degree of personalization.
6. Emerging real time, interactive channels including e-mail, ATMs and call centre that must be synchronized with customer’s non-electronic activities. The speed of business change, requiring flexibility and rapid adoption to technologies.
7. In the current era of hyper competition, marketers are forced to be more concerned with customer retention and customer loyalty.
8. As several researches have found out retaining customers is less
expensive and more sustainable competitive advantage than
acquiring new ones.
9. On the supply side it pays more to develop closer relationships with a few suppliers than to develop more vendors.
10. The globalization of world marketplace makes it necessary to have global account management for the customers.
Definition:
-“CRM is concerned with creating improved shareholder value through the use of customer centric business processes and the development of appropriate relationships with consumers.”
Implementing CRM:
CRM requires an integration of a firm's resources; people, operations and marketing capabilities to deliver added value to the customers. CRM should provide businesses and organizations with a ‘single view’ of their customers and across irrespective of the interactive channel or medium through which the customer accesses the service or product. For example, a business (e.g. hotel) customer’s profile and personal references should be accessible to the business (or hotel) irrespective of channel i.e. whether the customer books online, calls in or walks into any location should not make a difference to the service provided based on the personal profile of the business client. It is enabled through: Information Processes Technology Applications
A firm that wants to implement CRM must align it's business processes cross-functionally in the best possible way to allow increased customer focus with an aim to deliver added value to the customer.
To implement CRM, the following steps must be followed: Develop a CRM framework
Align current business processes
Design new cross-functional business processes (where required)
Develop Functional Specifications (client-side services) Develop Technical Specifications
Match Technical Specifications to available technology (Systems, software, etc)
Product Configuration
Data Migration and Integration Staff Training
Customer Segmentation: For CRM to be effective, the
organization’s customer base must be stratified into segments based on commonalities amongst groups’ of individuals and customers. This also requires the organization to have strategies to target consolidated customer segments.
Reduced Cost of Service: a customer relationship strategy
should reduce the cost of service for both the organization and it’s customers and increase satisfaction levels.
Service as a differentiator: The more competitive a market
becomes the more a business will need to rely on its superior product quality and quality of service to differentiate itself from other businesses and providers.
Tie-in’s over time: The greater the effort a customer spends on
a relationship over time, the greater the customer’s stake in helping to ensure that the relationship works and the more convenient and loyal the customer becomes.
Pitfalls to avoid:
Many CRM programs fail for two reasons:
1. Lack of supportive business processes: Because business
processes and organizational goals are not part of a strategic CRM plan tied to organizational goals and objectives.
2. Lack of an enterprise perspective: For Relationship Marketing
to be effective, it requires that the organization creates a seamless enterprise view. A lot of CRM programs fail because they are assembled with disparate components that aren't designed to work together as part of a complete CRM system designed to meet organizational objectives.
Customer Relationship Management
Model
CREATE A DATA BASE
ANALYSIS
CUSTOMER SELECTION
CUSTOMER TARGETING
RELATIONSHIP MARKETING
PRIVACY ISSUES
METRICS
Customer Retention Programs
CUSTOMER RELATIONSHIP MANAGEMENT SATISFACTION CUSTOMER SERVICE FREQUENCY/ LOYALTY PROGRAMS CUSTOMIZATION REWARDS PROGRAMS COMMUNITY BUILDINGObjective of the study of CRM
CRM, in its broadest sense, means managing all interactions and business with customers. This includes, but is not limited to, improving customer service. A good CRM program will allow a business to acquire customers, service the customer, increase the value of the customer to the company, retain good customers, and determine which customers can be retained or given a higher level of service. A good CRM program can improve customer service by facilitating communication in several ways:
Provide product information, product use information, and technical assistance on web sites that are accessible 24 hours a day, 7 days a week
Identify how each individual customer defines quality, and then design a service strategy for each customer based on these individual requirements and expectations.
Provide a fast mechanism for managing and scheduling follow-up sales calls to assess post-purchase cognitive dissonance, repurchase probabilities, repurchase times, and repurchase frequencies.
Provide a mechanism to track all points of contact between a customer and the company, and do it in an integrated way so that all sources and types of contact are included, and all users of the system see the same view of the customer (reduces confusion).
Help to identify potential problems quickly, before customer
Provide a user-friendly mechanism for registering customer complaints (complaints that are not registered with the company cannot be resolved, and are a major source of customer dissatisfaction).
Provide a fast mechanism for handling problems and complaints (complaints that are resolved quickly can increase customer satisfaction).
Provide a fast mechanism for correcting service deficiencies (correct the problem before other customers experience the same dissatisfaction).
Use internet cookies to track customer interests and personalize product offerings accordingly
Use the Internet to engage in collaborative customization or real-time customization
Provide a fast mechanism for managing and scheduling maintenance, repair, and ongoing support (improve efficiency and effectiveness)
Mechanism to evaluate Potential KOMs. To develop integrated Database.
Assessing the need of Potential KOMs. Ways to meet those needs.
Identify the softer elements.
Devising a way to Retain and grow with those KOMs.
Moving further ahead Satisfaction Delightment LOYALITY To develop Strategy and action plan on quarter & annual basis. To gain knowledge about consumer behaviour
To know, how to maintain relationship with customer? To know, the needs analysis of customer
To understand, with the help of feedback form that why customers are not trading with Angel
To know, the customer perception about company’s products & services
To know, the grievances among the customers about products & services
The CRM program can be integrated into other cross-functional systems and thereby provide accounting and production information to customers when they want it.
Keeping Existing Customers
Grading customers from very satisfied to very disappointed should help the organization in improving its customer satisfaction levels and scores. As the satisfaction level for each customer improves, so shall the customer retention with the organization.
Maximizing Life time value
Exploit up-selling and cross-selling potential. By identifying life stage and life event trigger points by customer, marketers can maximize share of purchase potential. Thus the single adults shall require a new car stereo and as he grows into a married couple his needs grow into appliances.
Increase Loyalty
Loyal customers are more profitable. Any company will like its mindshare status to improve from being a suspect to being an advocate. Company has to invest in terms of its product and service offerings to its customers. It has to innovate and meet the very needs of its customers so that they remain as advocates on the loyalty curve. Referral sales invariably are low cost high margin sales.
Research Methodology for CRM
Meeting and satisfying each customer’s need uniquely and individually. In the mass markets individualized information on customers is now possible at low costs due to the rapid development in the information technology and due to availability of scalable data warehouses and data mining products. By using online information and databases on individual customer interactions, marketers aim to fulfill the unique needs of each mass-market customer. Information on individual customers is utilized to develop frequency marketing, interactive marketing, and after marketing programs in order to develop relationship with high-yielding customers. In the context of business-to-business markets, individual marketing has been in place of quite sometime. Known as Key Account Management Program, here marketers appoint customer teams to husband the company resources according to individual customer needs.
Continuity Marketing Programs
Take the shape of membership and loyalty card programs where customers are often rewarded for their member and loyalty relationships with the marketers. The basic premise of continuity marketing programs is to retain customers and increase loyalty through long-term special services that has a potential to increase mutual value through learning about each other.
Partnering Programs
The third type of CRM programs is partnering relationships between customer and marketers to serve end user needs. In the mass
markets, two types of partnering programs are most common: Co-branding and affinity partnering.
Missing process of CRM
Traditionally customer relationship management (CRM) revolves around the three functions of selling, marketing and support. Various process models have been built around how these functions are integrated and operated in a customer oriented enterprise. There is however a fourth critical function that is lacking in most CRM models.The fourth function that often is the source of a competitive edge is that of innovation. Companies must continually reinvent themselves to deliver an improved and often a totally new value offering to their customer base. CRM must provide the customer intelligence that feeds information back into the enterprise’s knowledge management processes where it can trigger new innovation processes. When CRM is integrated into the innovation process, significant value can be derived from faster time to market cycle times and with new processes and services. Marketing automation must ensure that the innovation processes are actually market driven. A market driven innovation process must include both strategies that are focused on satisfying customer requirements as well as strategies focused at redefining customer requirements. Sales automation should be integrated with the innovation process by ensuring that all sales channels are prepared and ready to take new processes and services to market before competitive forces can react. Customer service automation must be designed to empower the customer with the option of assisting with the design of the value offering. Redefining CRM around innovation, sales, marketing and service can identify new competitive opportunities for an enterprise. The remaining question is whether companies are prepared to take the initiative and expand the definition of customer relationship management to include the process of innovation. The pressure to deliver results within the traditional definition of CRM already overwhelms companies. The dialog must start rather earlier than later because the competitive window of traditional CRM is decreasing and customer demands for a more innovative and responsive enterprise will increase
Architecture of CRM
1. Operational - automation to the basic business processes (marketing, sales, service)
2. Analytical - support to analyze customer behavior, implements business intelligence aliketechnology
3. Collaborative - ensures the contact with customers (phone, email, fax, web, SMS, post, in person)
1. Operational CRM
Operational CRM means supporting the "front office" business processes, which include customer contact (sales, marketing and service). Tasks resulting from these processes are forwarded to resources responsible for them, as well as the information necessary for carrying out the tasks and interfaces to back-end applications are being provided and activities with customers are being documented for further reference. Operational CRM provides the following benefits:
Delivers personalized and efficient marketing, sales, and service through multi-channel collaboration
Enables a 360-degree view of your customer while you are interacting with them
Sales people and service engineers can access complete history of all customer interaction with your company, regardless of the touch point. The operational part of CRM typically involves three general areas of business:
Sales force automation (SFA)
SFA automates some of the company's critical sales and sales force management functions, for example, lead/account management, contact management, quote management, forecasting, sales administration, keeping track of customer preferences, buying habits, and demographics, as well as performance management. SFA tools are designed to improve field sales productivity. Key infrastructure requirements of SFA are mobile synchronization and integrated product configuration.
Customer service and support (CSS)
CSS automates some service requests, complaints, product returns, and information requests.
Traditional internal help desk and traditional inbound call-center support for customer inquiries are now evolved into the "customer interaction center" (CIC), using multiple channels (Web, phone/fax, face-to-face, kiosk, etc). Key infrastructure requirements of CSS include computer telephony integration (CTI) which provides high volume processing capability, and reliability.
Enterprise marketing automation (EMA)
EMA provides information about the business environment, including competitors, industry trends, and macro-environmental variables. It is the execution side of campaign and lead management. The intent of EMA applications is to improve marketing campaign efficiencies. Functions include demographic analysis, variable segmentation, and predictive modeling occurs on the analytical (Business Intelligence) side.
Integrated CRM software is often also known as "front office solutions." This is because they deal directly with the customer. Many call centers use CRM software to store all of their customer's details. When a customer calls, the system can be used to retrieve and store information relevant to the customer. By serving the customer quickly and efficiently, and also keeping all information of a customer in one place, a company aims to make cost savings, and also encourage new customers.
CRM solutions can also be used to allow customers to perform their own service via a variety of communication channels. For example, you might be able to check your bank balance via your WAP phone without ever having to talk to a person, saving money for the company, and saving your time.
In analytical CRM, data gathered within operational CRM and/or other sources are analyzed to segment customers or to identify potential to enhance client relationship. Customer analysis typically can lead to targeted campaigns to increase share of customer's wallet. Examples of Campaigns directed towards customers are:
Acquisition: Cross-sell, up-sell
Retention: Retaining customers who leave due to maturity or attrition.
Information: Providing timely and regular information to customers.
Modification: Altering details of the transactional nature of the customers' relationship.
Analysis typically covers but is not limited to:
Decision support: Dashboards, reporting, metrics, performance etc.
Predictive modeling of customer attributes
Strategy and Research Analysis of Customer data may relate to
one or more of the following analyses:
Contact channel optimization
Contact Optimization
Customer Acquisition / Reactivation / Retention Customer Segmentation
Customer Satisfaction Measurement / Increase Sales Coverage Optimization
Fraud Detection and analysis Financial Forecasts
Pricing Optimization Product Development Program Evaluation
Risk Assessment and Management
Data collection and analysis is viewed as a continuing and iterative process. Ideally, business decisions are refined over time, based on feedback from earlier analysis and decisions. Therefore, most successful analytical CRM projects take advantage of a data warehouse to provide suitable data. Business Intelligence is a related discipline offering some more functionality as separate application software.
3. Collaborative CRM
Collaborative CRM facilitates interactions with customers through all channels (personal, letter, fax, phone, web, e-mail) and supports co-ordination of employee teams and channels. It is a solution that brings people, processes and data together so companies can better serve and retain their customers. The data/activities can be structured, unstructured, conversational and/or transactional in nature.
Collaborative CRM provides the following benefits:
Enable efficient productive customer interactions across all communications channels
Enables web collaboration to reduce customer service costs
Integrates call centers enabling multi-channel personal customer interaction
Integrates view of the customer while interaction at the transaction level
Literature Review
Company Profile:
Angel Broking Limited is one of the leading and professionally managed stock broking firm involved in quality services and research. Angel Broking Limited is a corporate member of The Stock Exchange, Mumbai.
The membership of the company with The Stock Exchange Mumbai was originally in the name of Mukesh R. Gandhi, which was eventually turned into a corporate membership in the name of Angel Broking Limited.
Angel Broking Limited is managed by Mr. Dinesh Thakkar and he is well supported by Mr. Mukesh Gandhi, a fifteen years veteran in the market.
The group is well supported by a professional and qualified research team and efficient operations and back office team, which comprises of highly dedicated and qualified individuals. Angel has an in-house, state of art research department.
Angel believes in reaching out to the customer at the farthest end rather than by reaching out to them. The company in its Endeavour to give its client the best has opened up several branches all over Mumbai, which are efficiently integrated with the Head Office.
Angel Broking Limited is primarily into retail stock broking, with a customer base of retail investors, which has been increasing at a compounded growth rate of 100% every year. The company has huge network sub-brokers in Mumbai and other places outside Mumbai, registered with SEBI, who act as channel partners for the company. The company presently has the total staff strength of around 150 employees who are spread accordingly across the head office and all the branches.
Angel has empowered its physical presence throughout India through various strategies which it has been adopting efficiently and effectively over a period of time, like opening up of branches at various places, tie-ups with various agencies and sales agents, buy-outs of smaller regional outfits and appointment of sub-brokers and franchisees. Moreover, Angel Broking Ltd. has been tapping and including high net-worth and self-employed individuals to its vast array of clients.
Angel has always strived in the direction of delivering ultimate client satisfaction and developing stronger bonds with its customers and chose partners. Angel has a vision to introduce new and innovative products and services regularly. Moreover Angel has been one among the pioneers to introduce the latest technological innovations and integrate it efficiently within its business.
Angel Broking Ltd tryst with excellence in customer relations began in 1987. Today, Angel has emerged as one of the most respected Stock-Broking and Wealth Management Companies in India. With its unique retail-focused stock trading business model, Angel is committed to providing ‘Real Value for Money’ to all its clients.
The Angel Group is a member of the Bombay Stock Exchange (BSE), National Stock Exchange (NSE) and the two leading Commodity Exchanges in the country: NCDEX & MCX. Angel is also registered as a Depository Participant with CDSL
Angel’s Business
Equity Trading Commodities
Portfolio Management Services Mutual Funds Life Insurance Personal Loans
IPO
Depository Services Investment Advisory
Angel’s Presence
Nation-wide network of 21 Regional Hubs Presence in 124 cities
Over 6810 Sub-Brokers & Business Associates More than 5.9 lakh Clients
Angel Group
Angel Broking Ltd.
Angel Capital & Debt Market Ltd. Angel Commodities Broking Ltd. Angel Securities Ltd.
Board of Directors:
- Mr. Dinesh Thakkar Founder Chairman & Managing Director
The Angel Group of Companies was brought to life by Mr. Dinesh Thakkar. He ventured into stock trading with an intention to raise capital for his own independent enterprise. However, he recognized the opportunity offered by the stock market to serve individual investors. Thus India’s first retail-focused stock-broking house was established in 1987. Under his leadership, Angel became the first broking house to embrace new technology for faster, more effective and affordable services to retail investors.
Mr. Thakkar is valued for his understanding of the economy and the stock-market. The print and electronic media often seek his views on the market trend as well as investment strategies.
Mr. Lalit Thakkar is the motivating force behind Angel’s highly acclaimed Research team. He’s been a part of the senior management team since the Angel Group’s inception. His technical and fundamental outlook has provided impetus to Angel’s market research team. Research-based & personalized advisory services are Angel’s forte, and Mr. Lalit Thakkar has undoubtedly been the brain behind it.
When it comes to analyzing the market, Mr. Lalit Thakkar is truly a genius. His hands-on experience and fundamental knowledge of the market can predict the market trend early. His views on the market trend are often quoted in the print and electronic media.
Mr. Amit Majumdar Chief Strategy Officer
A chartered Accountant by qualification, Mr. Amit Majumdar is a key member of Angel’s strategic decision-making process. He has been with the group since August 2004. He has handled several functions of the group like finance and operations, to name a few. He has rich experience in finance, investment banking, treasury, consultancy and advisory services.
Mr. Majumdar has led many successful initiatives for the group. Before joining the Angel Group, Mr. Majumdar has been associated with Rabo India Finance, Ambit Corporate Finance and Ernst & Young.
Mr. Rajiv Phadke Executive Director – HR & Corp.
Communications
Mr. Rajiv Phadke has actively contributed to the Group’s growth over the last four years. Holding a major in Finance, Mr. Rajiv Phadke is a strategic thinker with expertise in the field of corporate planning, international marketing, financial services, brand-building, HRD and quality management.
With over 32 years of experience, Mr. Phadke has successfully led SBUs and financial companies from concept to commissioning. His career horizon spans Motilal Oswal Securities, Times Guaranty Financials, Nagarjuna Securities and Tata Exports Ltd. He is also a well-known speaker in the HR and business development circuit and his views are featured on various electronic media as well.
Mr. Vinay Agrawal Executive Director – Equity Broking
Mr. Vinay Agrawal leads the Equity Broking business at Angel, which comprises Business Development, Operations, Product Development and E-broking initiative. He is actively involved in exploring new ways to adopt technology for business enhancement.
A Chartered Accountant by qualification, Mr. Agrawal began his career with the Angel Group as Finance and Operations Consultant, and since then he’s quickly climbed up the corporate ladder.
Mr. Nikhil Daxini Executive Director - Sales and Marketing
With an MBA in finance, Mr. Nikhil Daxini has been instrumental in introducing the concept of professional marketing of broking services at Angel. His area of focus is Business Development, Risk Management and Operations.
Mr. Daxini has immense experience in the marketing of financial products and services. He has been associated with HDFC Bank Ltd. in the past.
Mr. Hitungshu Debnath Executive Director - Distribution &
Wealth Management
A marketing professional and a British Chevening scholar from the London School of Economics, Mr. Hitungshu Debnath leads the
Distribution and Wealth Management business at the Angel Group. It includes the distribution of Insurance, mutual funds, IPOs, personal loans and other wealth management products.
Mr. Debnath has over 18 years of industry experience. He has been associated with Times Guaranty Financial Ltd., Fortress Financial Services Ltd., Alliance Capital Asset Management and HDFC Asset Management Ltd. in the past.
Mr. Mudit Kulshreshtha Executive Director - Business
Intelligence & Analytic
Mr. Mudit Kulshreshtha heads the advance analytics and strategic business intelligence division at Angel. With a Bachelor’s degree in Engineering and PhD in Economics, Mr. Mudit Kulshreshtha has more than 12 years experience in the field of strategy and business consulting.
He has been associated with reputed consulting firms like Deloitte Consulting India, Ernst and Young, Arthur Andersen and WNS Global. He has advised several big clients in the U.S. and U.K. He is also a known speaker at public seminars and conferences organised by CII, NASSCOM, Indian School of Business and IIT.
Mr. Santanu Syam Executive Director – Operations
Mr. Syam brings with him over 18 years of experience in the field of Transaction Banking, Wholesale Banking, Treasury Banking,
Consumer Banking and CBS. He started his career with ANZ Grindlays Bank and he was also associated with Standard Chartered Bank in India as Director Transactional Banking.
Mr. Syam followed up his Engineering degree with an MBA. He has also attended Banking & Technology seminars organised by SCB Singapore, BSE India & Euro Finance.
Mr. Ketan Shah Associate Director - Information Technology
IT is a strategic function at Angel. And Mr. Ketan Shah is involved in the designing of Angel’s IT policies and Strategies. Mr. Shah leads all IT-related activities from planning and budgeting to implementation and maintenance.
Mr. Shah has over 18 years of industry experience. He has been involved in various aspects of Business Operations in his previous assignments.
Ms. Pinky Kothari Associate Director - Sales And Marketing
Ms. Pinky Kothari is responsible for development and expansion of the Angel Group’s business in Southern India. She started her career at Angel as Business Development Executive. She was then appointed the head of Surat Branch and the South Gujarat region, before assuming the role of Associate Director.
A qualified Company Secretary and an MBA in Finance, Ms. Kothari has vast experience in business development in the financial services industry.
Mr. Naveen Mathur Associate Director – Commodities Business
A CFA of 1997, Mr. Mathur holds a Post Graduation degree in Financial Management and Business Finance. He brings with him over 14 years of experience in the financial markets.
He had been associated with Religare Commodities, Karvy Consultants and with BLB Ltd in the past. He has been involved in several management activities, treasury operations, corporate and strategic planning, research activities in Futures and Options markets in his past assignments.
Mr. Mathur is a regular speaker on all the prominent financial news channels.
Products and Services of Angel
We have been trained and introduced to Angel’s various
product and services, which are as follows:
EBroking:
-Angel offers several user-friendly services to customers so that they can manage their stock portfolio. Including, online capabilities linked to an information database to help customers invest, confidently. Our e-broking services are specially designed for the net-savvy traders and investors who prefer operating from their home or office, through the internet.
There are two types of software.
1. Browser-Based Angel Investor Angel Trade 2. Application-Based Angel Diet Angel Anywhere
USP’s of Angel E-broking
Multiple Exchanges on a single screen- BSE, NSE-F&O, MCX, NCDEX
Streaming quotes
Products/Software/Back office training for all E-broking clients In-depth research & technical chart, intra-day calls
24x7 Back-office
Viewing ledger, Bills, Contracts, Sauda summary, Open Position, Holdings, DP Transactions, Auction Details.
Auto pay-in of shares & Online Securities Pay-Out
Instant transfer of fund & Online Funds pay-out request Highly secure and confidential
Portfolio management service
Successful investing in Capital Markets demands ever more time and expertise. Investment Management is an art and a science in itself. Professional Investment Management Services are no longer the privilege of only large institutional investors. Portfolio Management Services (PMS) is one such service that is fast gaining eminence as an investment avenue of choice for High Networth Investors like you. PMS is a sophisticated investment vehicle that offers a range of specialized investment strategies to capitalize on opportunities in the market. The Portfolio Management Service combined with competent fund management, dedicated research and technology, ensures a rewarding experience for its clients.
PRODUCT BOUQUET
a- Angel Oyster
Chief Investment Officer Mr. Rajen Shah
Bottom up concentrated portfolio of Mid Cap & Small Cap Companies with emphasis on Value Investing.
Investor Profile:
• The scheme would be suited for investors with medium to high risk appetite having long term perspective
Fees and Charges
2% Asset Management Charges 0.50% brokerage on transactions
b- Angel Blue-chip
Fund Manager Mr. Phani Sekhar
Diversified Equity portfolio of Large cap & Mid Cap Companies.
Investor Profile:
• The scheme would be suited for investors with medium to low risk appetite, having long term perspective.
Fees and Charges
• 2% Asset Management Fees • 0.50% Brokerage on transactions Angel Equity Derivatives Fund
Fund Manager Mr. Siddarth Bhamre
Bottom-Up concentrated portfolio with Equities & Derivatives, and emphasis on Hedging by using volatility in the Markets.
Investor Profile:
• The scheme would be suited for investors with low to medium risk appetite, having long term perspective.
• Suitable for HNI Clients and Corporate who want to park money for consistent Return from the market even if market remained flat.
Fees and Charges
• 2% Asset Management Charges
• 0.10% on Delivery and Rs.50 flat on options, 0.01% on futures
Fund Manager Mr. Phani Sekhar
Diversified Equity portfolio of Large cap & Mid Cap Companies with emphasis on growth Investment.
Investor Profile:
• The scheme would be suited for investors with moderate risk appetite.
• Recommended investment horizon is 15 to 18 months.
Fees and Charges:
• 2% Asset Management Charges • 0.5% brokerage on transactions
PMS characteristics:
- Personalized Service
Interaction with Fund Manager Regular feedback and reports Pro-active management of funds
Holdings not impacted by entry/exit of big investors Can remain liquid for long periods
Disciplined investment process Quality investments
Limiting risk
Low portfolio turnover
Focus on generating Absolute returns rather than Relative Returns
Angel
Gold-Product- Features of Angel Gold
A premium service for clients who needs professional guidance on
Minimum funds or portfolio of Rs.1 Lakh and maximum of Rs.4 Lakhs will be eligible for Angel Gold..
Brokerage of 0.50%-0.75% for clients. 50% sharing of brokerage in case of Sub-broker’s clients.
No AMC, No Entry/Exit load and No profit sharing
Shares can be kept in Angel pool or can be transferred to the respective DP accounts
Intimation regarding transaction will be given to clients by evening of the day of transaction
No Lock-in period. Profits can be redeemed or re-investing based on client’s wish
Existing client account can be used for Angel GOLD. Clients can do there own transactions in the same account as well.
Research Director Mr. Lalit Thakkar along with 12 senior analysts will take investment decisions
Investment will be done for a longer time horizon. (12-18 Months)
Browser based BO software for clients and branches
Monthly Newsletter will be released from Angel GOLD desk Periodic meetings will be held in the branches
POSITIONING
Angel GOLD is positioned as an equity investment option for all
those investors who aim for realistic return from equity as an asset class on a long term perspective.
It is for the investors who, wishes to seek professional advice for
their investments.
Unique selling Preposition (USP)
A strong team of 11 sector specific analysts headed by Research director guiding the investments
No Entry/Exit load, No profit sharing, No Management fees A corpus limit as low as Rs.1 Lakh.
Flexibility of reinvesting, redeeming and liquidating the portfolio
A low cost solution for investing.
Product Segment
Angel GOLD is for the people who fall in middle class – higher middle class section of the society
People who are not risk averse and can understand the return benefits vis-à-vis calculated risk taken
People who are new entrant to the equity markets, normally coming through the Mutual Fund route.
Target Customers
Young professionals earning salaries around Rs.3 Lacs to Rs.6 Lacs with one or two years experience
Middle aged professionals considering traditional ways of investing i.e. FDs, PPF, gold, bonds, etc.
Small scale businessmen who are not risk averse and will understand the importance of reasonable returns
Retired people who have taken hefty VRS or has savings of which 20-25% can be invested in equities
Margin Funding and prepaid brokerage
Margin Funding
“Margin Funding” allow you to take higher exposure on the funds as well as unlock the value of your existing portfolio & take advantage of investment opportunities in the market without the involvement of fresh funds. One can use the shares in his current portfolio to make fresh purchases in the market. If utilized prudently, this product can help unlock the value of Securities even during depressed Stock Market conditions and provide customers with the much-needed liquidity during pressing times.
Advantages:
Provide instant liquidity without having to sell your Securities. Allow you to grab investment opportunities instantly without
any need to pay first.
Leverage your funds available for investments.
Benefits like bonuses and dividends continue to accrue to the
borrower.
Any appreciation in the value of the Securities given as margin
would automatically allow enhancement in drawing power.
Interest calculated on the amount utilized & the time for which
it is utilized.
Pre-Paid Brokerage
Pre-paid brokerage is one of the best schemes for customers to take the advantages of less brokerage. Different pre-paid recharge are available with different validity. Some characteristics of pre-paid brokerage are as follows:
- Zero account opening charges Attractive Brokerage Rate Free DP AMC for 1 year
Assured gifts worth thousands with every account. Easy & Fast Recharge
Free Financial Investment Application with every account
Quality Assurance by Angel
Angel Broking is the First Brokerage House to have a Quality Assurance Cell across Industry Dedicated QA teams at CSO & branches to resolve client queries/ complaints through telephone, email or visit. Quality assurance cell is one such significant milestone achieved by the company, which stands for its performance. Established in 2005,the cell was set up as the compelling need was felt to shift from ‘customer satisfaction to customer delight” Angel’s definition of Quality- Product and services that totally satisfy and
often exceed customer needs and expectations in all respect to delight him.
Simply put, Quality is achieving a high degree of excellence in all forms of activities from design, development, serving and documentation. “Right First Time and Right Every Time”. And to achieve that, they follow the 4 ‘P’ Quality model:
Problem solving-continuous improvement and learning
People and Partners-Respect, challenge, growth
Process-Standardized tasks for continuous improvement Philosophy-Long term thinking
Research & Advisory
The markets ended Monday marginally in the green, after opening weak due to concerns about Swine flu. The Indices were weak at the outset of the Tuesday ending the day in red. Markets surged on Wednesday on positive global cues and short covering in April 2009 derivatives contracts. The markets remained closed both on Thursday and Friday. The markets just ended the week positive, with the Sensex gaining 0.7% and the Nifty closing marginally lower by 0.2%
Fundamental Analysis
Fundamental analysis is one of the most useful tools that investors use when making decisions about which stocks they’re going to buy. It is a process of examining key ratios that show the current worth of a stock and the recent performance of a company. Fundamental analysis is used to determine the amount of money a company can make and the kind of earnings an investor can expect. Future earnings may be subject to interpretation but good earning histories create confidence among investors. The stock prices may increase and the dividends may pay out.
Stock market analysts determine whether a company is meeting its expected growth by examining the earnings that are reported by the company on a regular basis. If the company doesn’t meet its expected growth, the prices of its stocks usually experience a downturn.
There are a lot of tools that are used to determine the earnings and the value of a company on the stock market. Most of these tools rely on the financial statements released by the company. Details about the value of a company which include competitive advantages and ownership ratios between the management and the outside investors can be revealed through further fundamental analyses.
Fundamental analysis is for the rational man
To make financial forecasts
To conduct a company stock valuation & predict its
probable price evolution
To make a projection on its business performance
To evaluate its management and make internal business
decisions
To calculate its credit risk
Technical Analysis
The art and science of examining stock chart data and predicting future stock market movements is called technical analysis. This style of analysis is used by investors who are often concerned about the nature and the value of the companies where they trade their stocks in. The holdings are usually short-term since the investors drop the stocks once they reach their projected profit.
The belief that stock prices move in predictable patterns is the basis for technical analysis. The factors that influence the movement of the price are supposedly reflected in the stock market with great efficiency. These factors include company performance, economic status, and natural disasters. The efficiency, when coupled with historical trends, produces movements that can be analyzed and applied to the future movements of the stock market. Because the fundamental information about the potential growth of a company is not taken into account, technical analysis is not intended for long-term investments. Trades are entered and exited at precise times so technical analysts need to spend a lot of time watching the movements of the stock market. Investors can take advantage of both upswings and downswings in price by going either long or short. In the event that the market doesn’t move as expected, the losses can be limited by stop-loss orders.
Hundreds of stock patterns have been developed over time. Most of these patterns rely on the basic concepts of “support” and “resistance.” The level where downward prices are expected to rise from is called the support while the level where the upward prices are expected to reach before falling again is called the resistance. Once they hit the support or the resistance levels, the prices tend to bounce.
Value Added Services
NRI Service Desk for personalized Assistance Dedicated Offline Equity Dealing Desk
Online Equity Trading Platform NRI Investment Advisory Desk PAN card Assistance
Support for Banking & PIS Account
Training
A training program can serve a range of diverse purposes, and organizations initiate training programs for many different reasons. One of the strongest need of training is to respond to challenges presented by new technology. Customer Relationship Management training at Angel Broking helped us to meet the challenges in current market scenario. We came to know about maintaining long lasting customer relationship. We were covered by Motivational speeches by Board of directors, Product and services, Role plays, Brain storming, Scrip designing, Back office, Different departments at Angel and the way they execute their tasks, Research and Advisory, Wealth management services, Value added services and healthy discussions ,Which are as follows in detail:
Importance & Needs of Training
Optimum Utilization of Human Resources – Training helps in optimizing the utilization of human resource that further helps the employee to achieve the organizational goals as well as their individual goals.
Development of Human Resources – Training helps to provide an opportunity and broad structure for the development of human resources’ technical and behavioral skills in an organization. It also helps the employees in attaining personal growth.
Development of skills of employees – Training helps in increasing the job knowledge and skills of employees at each level. It helps to expand the horizons of human intellect and an overall personality of the employees.
Productivity – Training helps in increasing the productivity of the employees that helps the organization further to achieve its long-term goal.
Team spirit – Training helps in inculcating the sense of team work, team spirit, and inter-team collaborations. It helps in inculcating the zeal to learn within the employees.
Organization Culture – Training helps to develop and improve the organizational health culture and effectiveness. It helps in creating the learning culture within the organization.
Organization Climate – Training helps building the positive perception and feeling about the organization. The employees get these feelings from leaders, subordinates, and peers.
Quality – Training helps in improving upon the quality of work and work-life.
Healthy work-environment – Training helps in creating the healthy working environment. It helps to build good employee, relationship so that individual goals aligns with organizational goal. Health and Safety – Training helps in improving the health and safety of the organization thus preventing obsolescence.
Morale – Training helps in improving the morale of the work force. Image – Training helps in creating a better corporate image.
Profitability – Training leads to improved profitability and more positive attitudes towards profit orientation.
Training aids in organizational development i.e. Organization gets more effective decision making and problem solving. It helps in understanding and carrying out organizational policies.
Training helps in developing leadership skills, motivation, loyalty, better attitudes, and other aspects that successful workers and managers usually display.
METHODS OF TRAINING
The most widely used methods of training used by organizations are classified into two categories: On-the-Job Training & Off-the-Job Training.
ON-THE-JOB TRAINING is given at the work place by superior in relatively short period of time. This type of training is cheaper & less time-consuming. This training can be imparted by basically four
methods:
-Coaching is learning by doing. In this, the superior guides his sub-ordinates & gives him/her job instructions. The superior points out the mistakes & gives suggestions for improvement. Job Rotation: - In this method, the trainees move from one job to another, so that he/she should be able to perform different types of tasks. E.g. In banking industry, employees are trained for both back-end & front-back-end jobs. In case of emergency, (absenteeism or resignation), any employee would be able to perform any type of job. OFF THE JOB TRAINING is given outside the actual work place. Lectures/Conferences:- This approach is well adapted to convey specific information, rules, procedures or methods. This method is
useful, where the information is to be shared among a large number of trainees. The cost per trainee is low in this method. Video Clips can provide information & explicitly demonstrate skills that are not easily presented by other techniques. Motion pictures are often used in conjunction with Conference, discussions to clarify & amplify those points that the film emphasized.
Simulation Exercise: - Any training activity that explicitly places the trainee in an artificial environment that closely mirrors actual working conditions can be considered a Simulation. Simulation activities include case experiences, experiential exercises, vestibule training, management games & role-play.
Cases: - present an in depth description of a particular problem an employee might encounter on the job. The employee attempts to find and analyze the problem, evaluate alternative courses of action & decide what course of action would be most satisfactory. Experiential Exercises: - are usually short, structured learning experiences where individuals learn by doing. For instance, rather than talking about inter-personal conflicts & how to deal with them, an experiential exercise could be used to create a conflict situation where employees have to experience a conflict personally & work out its solutions.
Vestibule Training: - Employees learn their jobs on the equipment they will be using, but the training is conducted away from the actual work floor. While expensive, Vestibule training allows employees to get a full feel for doing task without real world pressures. Additionally, it minimizes the problem of transferring learning to the job.
Role Play: - Its just like acting out a given role as in a stage play. In this method of training, the trainees are required to enact defined roles on the basis of oral or written description of a particular situation.
Management Games: - The game is devised on a model of a business situation. The trainees are divided into groups who represent the management of competing companies. They make decisions just like
