Spending on customer relationship management systems in 2002 will stay essentially level compared to 2001 at about $6.7 billion, with no significant expansion expected until 2004, according to Meridien Research.
Corporate CRM spending, influenced mostly by commercial banks, will remain at $3 billion this year and is also not expected to grow significantly until 2004, as many institutions examine their return on investment from less-than-successful CRM investments, Meridien noted.
Meridien’s global spending estimate, based on 55,000 institutions, covers external spending for hardware, software, and related development, consulting, and implementation services for all financial industry segments.
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