Knowledge Management and Customer Relationship Management for Accounting Services Companies

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. Customer relationship management (CRM) has a significant potential to leverage an organization’s performance, but it does not come without a clear sense of destination and typically without pain. For the research methodology we use the database of customers of a Romanian accounting services company Vulpoi & Toader Management SRL, which is an important player in this market. The goal of our paper is to find out the link between knowledge management (KM) and CRM for this company and how these “innovations” contribute to increasing the value of the business.