1 Customer Relationship Management

2 Producers DistributorsCustomers Brokerage Investment Funds Credit card Software Company Mortgage Travel Horizontal Portal Finance Portal Aggregators Financial Marketplace Internet: Production and Distribution are Separate

3 Producers DistributorsCustomers Internet: Production and Distribution are Separate Focused Distributor Amazon.com Financial Marketplace E-loan Service Provider Delta Air Producer Ford Motor GE Medical Horizontal Portal Yahoo! Vertical Portal Quicken.com Affinity Portal iVillage Financial Product AllState Farmers Ins.

4 Customer Distributor New Value Web Producer Insurance Co.s Allstate, GEICO Financial Marketplace E-Loan Horizontal Portal Yahoo! Software Quicken2000 Vertical Portal Quicken.com Physical World Call Centre Focused Distributor Amazon

5 Traditional Organisation is Changing…. Customer Product Infrastructure

6 Internet: Traditional Organisation Will be Unbundled Scale war; a few big players Battle for scope; a few big players Capability war; low entry cost, many small players Competition Cost and efficiency focused “Customer comes first”Employee focused, creative “stars” Culture Fixed cost is high, volume is essential Customer acquisition cost is high, has to sell masses First mover advantage and speed are important Economics InfrastructureCustomer RelationsProduct Innovation Source: Hagel & Singer, Unbundling the Corporation. Harvard Business Review, Apr’99

7 CUSTOMER RELATIONSHIP Product ManagementCustomer Relationship Management One time interaction FocusConstant interaction Short termProcess Long term MassCommunicationPersonal Market surveyFeedbackConstant dialog Market shareSuccess criteria“Wallet share”

8 CRM PROCESS Know Your Customer Information gathering Customer differenatiation Personalise Product/ service Communication Channel Price Communication

9 Overview of CRM Products Critical Success Factors for CRM Implementation Review of the CRM space

10 The Evolution of Space eCRM Systems Improve workflow and automate lead tracking GoldMine, ACT Functional Objective Vendors Sales Force Automation Systems Contact Management Systems CRM Systems Automate FIs internal processes of Sales & Accounts Management Sales Logix, Saratoga, First Wave Have organized, automated processes for sharing comprehensive CRM data with remote sales agents & business partners Siebel, Oracle, Janna Have web-based platforms which enable dynamic profiling of customers, interactive personalized scripting & customer treatment Combination of Integrated web technologies CRM Products

11 Review of the CRM space Overview of CRM Products Critical Success Factors for CRM Implementation

12 The Environment A variety of products Gamut of delivery channels & partners Variety of modalities in far flung territories Dispersed, incentive-differentiated sales organizations Management by effective, entrepreneurial business divisions Critical Success Factors

13 To Succeed in this rapidly evolving environment following are the critical success factors which Client must focus on Critical Success Factors

14 1.e-Enabling of entire CRM infrastructure (evolve into eCRM) –Extends the purview of Customer Relationship Management Critical Success Factor #1

15 CRM Vs eCRM CRMeCRM Scope of Relationships EnterpriseExtended Enterprise Control of Relationships Financial InstitutionFinancial Institution & Customer Nature of Relationships Simple, StaticComplex, Dynamic Central Focus Company, Employee agents Customer Purpose of Solutions Track customer interactions Understand & increase customer relationship value Critical Success Factor #1

16 2.Data integration & synchronization Customer Knowledge Repository Data Mart Session & Transaction History Mining & Analytics Business Rules Business Management Customer Input Contact Info Preferences Interaction Flow Transactions Workflow Initiation Customer Service Customer Profile Scripts Targeted Info Customers Customer Profile Personalized UI Targeted Info Enterprise Intelligence Marketing Content Marketing Campaigns/ Customization Rules Templates/ Scripts Customer Intelligence Campaign Feedback Collaborative Session –Management of Interactive Customer Data Flows –Real-time or batch modes both for operations & decision support Critical Success Factor #2

17 3.Industry-centric Workflow Management –Workflow & Fulfillment templates specific to a given Industry –Capture the expertise of best marketing & sales people –Enable specification of complex rules for interaction The idea is to define, instill and reinforce the “best practices” to elevate performance Critical Success Factor #3

18 4.Multi-channel Integration –Call Center –Internet –IVR –Remote Sales –Branch/ store, , Mobile etc. The point to make is what level of functionality is available in multiple channels Critical Success Factor #4

19 5.Integration of other Applications with CRM –Call Center –CIF –Profiling datastore & personalization engine –Integration of existing Logs & Rules Datastores – management –Data Warehouse/Mart –Marketing Analytics, transactional data, servers etc. Ability to foster an integration platform to make existing systems take advantage of new dynamic environments Critical Success Factor #5

20 Typical Implementation Roadmap will be guided by: - Current state - Objectives for eCRM project - Project timelines - Business priorities - User-base within the organization - Back-end integration - Phase-wise implementation Implementation Approach

21 Workflow Mgmt Fulfillments Call Center Agents DMAs DSAs Lead Generation C o m p l a i n t Mgmt Marketing SFA Opportunity Mgmt Quote Generation Order Entry Tracking Sales C a m p a i g n Mgmt Data Warehouse Customer eCRM Tool Objectives for eCRM Project Objectives