How To Write a Good CSR Policy

Clients frequently ask us how to write a CSR policy document, which is one of our CSR advisory services. The simplest way to get started is to Google templates. Is that, however, the best approach? Organizations have different perspectives on their vision and societal contributions. As a result, similar CSR policies are not possible. A company should consider its vision, values, and the impact it wants its CSR programme to have on the community when creating a CSR policy. This will ensure that the CSR policy developed captures the true essence of the enterprise’s CSR objectives and is unique in every way.

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Marketing Strategy Consulting Firm – Why Hire One

Marketing strategy consulting firms assist companies in building and implementing marketing plans and go-to-market strategies. This group of professionals has experience working across industries and customer segments and have understanding of marketing approaches and value propositions. 

A marketing strategy consulting firm has a good understanding of multiple channels of marketing. Based on the industry, product offering, and target market, the firm can suggest and implement an optimum media mix that can benefit an organization across facets of brand awareness, marketing communication, business generation, and brand loyalty.

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How to get an Internal Buy-In for a CRM software

Most CRM implementations fail because users who should use the system do not do so. In most organizations, the need for CRM is driven by the top management to track marketing, sales and customer service. While senior management consumes information created by end users. Often, it is the end users who are left out of CRM selection and implementation.   

The success of a CRM project depends on the end user’s buy-in. It is vital to demonstrate clear value to all users (direct and indirect) by focusing on ease of use. Otherwise, CRM implementations have a high risk of failure.

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Consulting Services Offered by a CSR Consulting Firm

The Indian CSR regulations are becoming more elaborate, which requires Indian corporations to adopt an appropriate approach and method for developing and implementing their CSR strategy. It goes without saying that a properly designed CSR strategy does more than just ensure compliance; it also has tangible and intangible benefits for the brand and the company.

A CSR consulting firm works with an organization to develop and execute a properly defined & structured CSR strategy which not only ensure compliance with the law but also enables the organization to deploy CSR programs successfully and reap benefits from it.

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CRM Consulting Firms: How to Choose One

The CRM software market has grown to over 52 billion USD as of 2021. CRMs such as Salesforce, Oracle, Adobe and Microsoft lead the market, while newer CRMs such as Hubspot, Zendesk, and Zoho are carving out their niche. The product software market has grown, and so have CRM consulting firms that provide CRM consulting services to assist customers in selecting and implementing CRM software.    

As a result, your options as a buyer in the CRM market have increased, which can be a positive thing, however, you have to know your way around the various options available & also select the right CRM consulting firm.

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The Impact of CSR on the Indian Sports Ecosystem

In a country like India, where cricket is practiced as a religion and has sentiments deeply embedded into the population’s heart and soul, we still see an unfathomable gap and neglect in our Sports infrastructure, other than cricket.

There are a number of activities that qualify for CSR under the Companies Act, including health and sanitation, education and skill development, rural development, gender equality, and sports development. In the initial years of this mandate, many companies didn’t know much about it, so they just wrote checks to the PM Fund, thereby eliminating lengthy audits.

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Impact of CRM On Fintech Companies

The world is seeing a radical shift in the evolution of Fintech companies. Managing and maintaining customer relationships is challenging in the face of constant changes in the industry’s landscape. CRM solves this problem and enables fintechs to deliver great customer experiences, leading to repeat transactions, brand loyalty and vertical growth.

Fintechs should consider CRM as a pool of software solutions designed to automate multiple customer touch points. Many companies still limit their understanding of CRM to S.F.A, marketing automation (primarily email) and customer service. As part of our CRM consulting services we advise customers to identify channels of customer interaction and then select applications that when integrated together, form a complete CRM system. Lastly, they need not be from the same vendor.

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Impact and Benefits of CSR On Indian Corporates

India proudly stands on the Global platform to have mandated Corporate Social Responsibility, following an amendment to the Companies Act in 2014.

The implementation and execution of a well-thought-out CSR project can benefit companies not only in terms of compliance but also in developing their most intangible asset: their brand value and reputation. Other benefits include

  • Improved employee connect and engagement
  • Improved customer loyalty
  • Credible international image
  • Greater societal impact

However, to ensure that the CSR project adopted is a success, the company should tie the project with its overall mission and vision. The thematic areas selected (such as Education, healthcare, WASH, etc.) should connect and align with its overall social objective. Also, CSR initiatives should have a long-term implementation vision, with local communities involved. Only then a project can be successful.

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CRM Trends to keep an eye on in 2022 in the Indian Corporate

CRM Trends 2022

The backbone of business has always been customer-centric. For any business to run, there must be consistent service and gradual growth in quality to adhere to the ever-changing global business trends. CRM(Customer Relationship Management) has changed the course of how business maintains customer relations, by developing comprehensive solutions to improve both customer and employee experience.

The exponential growth in CRM consultancy firms empowered business departments, facilitating smarter consumer communications, and automating repetitive and time-consuming tasks, has given businesses the edge that’s needed to win the new wave of business.

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Pre-requisite for business Perquisites!

Finance bill 2022 appears to have specific focus on non-monetary & in kind benefits provided by business houses to its stakeholders, distributors, dealers & business partners. It has been a usual practice for some businesses to reward or provide free gifts to its business partners on achievement of targets or goals in sales/business.

Finance bill 2022 has come up with a couple of amendments which would force  the businesses to relook into the way such free gifts/benefits are dealt with. Every time a free gift or in kind benefit is to be passed on to the business partners, the payer would need to carefully consider the following- 

  • Determine if an expenditure results in a benefit or perquisite to the recipient 
  • Verify if the acceptance of the benefit or perquisite by the recipient is in violation of any law or rules or guidelines as may be applicable to the recipient. In case it is so, the expenditure on account of such free benefit or perquisite would not be a tax deductible expenditure for the payer. 
  • In case the value of such benefit/perquisite provided to an Indian resident is in excess of INR 20,000, deduct a tax of 10% before providing such benefit/perquisite to the business partner
  • In case the benefit is provided in kind, the payer would need to ensure deposit of 10% taxes before releasing such benefits to the recipient. 

The proposed amendments would not only increase the cost of doing business for the corporates but would also cast onerous compliance obligation on the business houses.