FT.com / Business Life - Making customers more revealing - 0 views
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The core idea of vendor relationship management (VRM) is simple: the more empowered individuals are when it comes to managing and using personal data – including the ability to manage their relationships with vendors – the greater the benefits to both sides.
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Meanwhile, new technologies such as infocards (which create a secure “pipeline” for two parties that want to share information online) make it possible for customers to “co-manage” customer databases. Addresses and contact details can be updated in advance, so that organisations do not discover that the change has taken place too late.
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Brett McDowell, executive director of Liberty Alliance, expects a high percentage of member companies to seek certification for the VPI standard. “If these programmes are put in place, there is no way this won’t change the way markets work,” he says.
