Business Relationship Management
Business relationship management (BRM) embodies a commitment to fostering relationships that create value for the company and its partners, as well as for the organisation as a whole. It is the process of defining and supporting cross-company networking activities.
Organisations that are focused on people, purpose, and the planet optimise their ability to build effective business relationships.
Customer satisfaction is central to effective business relationship management because it is about ensuring that customers are satisfied with the services they receive. One of the most important goals of all those involved in a business is to improve relationships with customers and partners and maximise the value of the company.
Business relationship management is a strategic and tactical process that facilitates meetings between business leaders and their business partners. It ensures that the right person is involved in these meetings and is a combination of business strategy, management skills and leadership skills.
The role of a Business Relationship Manager combines the best of both worlds: management and business development. They act in the same way as other business service providers, such as account managers. In the banking and finance sector, for example, the Business Relationship Manager manages and maintains current business relationships and searches for new accounts.
The Business Relationship Manager is responsible for the consistency of the cooperation with the company and can act as an intermediary between the customer group and selected customer groups to understand the operational and development needs of this business.
Unlike most other service management processes, which focus on ensuring that the service provider can meet its obligations to the customer, business relationship management processes focus more on the need to ensure that the customer gets what they need.
Business Relationship Management is primarily aimed at building and maintaining good customer relationships to increase customer satisfaction and improve the profitability of the organisation. It concentrates on the overall extent to which a service provider meets the needs of its customers.