Thank you for your interest in your consulting services and for allowing use to develop a report. Servicing customers and allowing the best type of customer service has always been a top priority for your organization. I agree that by implementing a CRM system it will not only allow for a more structured IT system but also allow for you to retain, enhance and attract more customer in the near future.
You have identified your main priority as being an improved customer focused model with features such as internet banking, 24 hour cost free ATM's, fast service and real time consolidation.
I feel that based on your current infrastructure and system we can help implement a transparent system which will help to fulfill your objectives.
"We will follow a two stage approach. We will review the documents you provided us (the "Case") and then get back to you with a short report that sums up the key issues you are facing and describes the steps we would then take to develop a final recommendation."
As promised, I have considered the request by Business Unit X to be allowed to fund and install their own CRM system. As you know, to allow them to do so would go against the IT strategy and infrastructure approach that we have been following.
While I do have some strong views on this, I have decided to get an outside opinion on this matter and have hired the consulting firm of RSC* to invest the choices we have and give us a recommendation.
I will have their preliminary report in a week or so and will meet with you then to discuss it.
Introduction
From our understanding of your previous business we have gathered some information and have used it to understand your current situation
Your predecessor Long Term Credit Bank had a was a big bank in the heart of Japan. They provided long term funding to firms and other organizations. At the time of the bubble bust as with many companies the bank was left with a large amount of debt and could no longer service any of their valued customers. Unfortunately the bank went under and was soon acquired by an American company(Ripplewood holdings).
At this time LTCP became the first Japanese bank to have foreign ownership.
Background
Shinsei Bank has always had it customer in mind. They want to understand their customers better and service them fast at the same time. Some of the problems you are facing include. Increasing the business hours which currently end at 3 o'clock in the afternoon due to the computer system having to reconcile the information with the database. This is not adequate because many customers would like to do their banking after work hours and may not have time during the day. This also includes the banks ATM's machines which also stop earlier than desired. There is no internet banking for customers who like the convenience of doing all their banking from home. This allows less pressure to be put on branch staff and increases the convenience of doing banking in general. In addition there is a long wait for new accounts to be opened, separate accounts for each type of financial product and just an overall disappointing for customers in Japan to do their banking.
When we look at today we notice that there are many new changes which have been brought about. With your team and advanced knowledge you have been able to turn around the banks IT infrastructure and make it an attractive and now convenient place to do business. From what we understand some of the improvements that were made to the overall strategy include :
Replacing mainframes with Unix and Windows servers
Centralized operations which created a functional organization
Selecting one network protocol, one operating system and one hardware platform to streamline the communication process.
Hiring a skilled team with a diverse background in all aspects of the design and integration.
All of the work that was done was based on five criteria as follows:
Speed - How fast could the work be done. It not only had to be completed but The new system was implemented within 18 months.
Cost - As with any implementation cost is expected to be kept to a minimum. No everything was built from scratch but a combination of off the shelf and new built systems.
Capability - Being a large financial institution many IT services would be required including translating different currencies and financial products.
Flexibility - As the system grows and new strategies are developed how can the system adapt to the changes.
Safety - Security is important for any organization but much more for a bank of your size. Allowing for redundancy systems and backups allow for a better customer experience with no downtime.
These are some of the criteria we will base out solution for a CRM system on and look at exactly how they fit in with your current infrastructure. Outstanding customer service
Project Objectives and Scope
A. Looking at your current requirements ad system I have outlined that scope of the project and what will be included and not be included.
B. The whole idea revolves around a more customer driven experience. That is the goal first and foremost.
It will revolve around the 3 main areas that you have outlined that are important strategies. They include commercial banking, retail banking and investment banking.
Cost reduction - Making a customer a part of the business is an important objective too. If you allow them to do their own online and product/services order entry they are given the info they need to come to a buy decision. Because of this less staff is required.
Better Customer Service - Being a number one priority for your company all your customer data will be centralized. They have all the information they need at their fingertips. The customer experience is greatly enhanced.
Increased Customer Satisfaction - Engaging the customer and making them feel that they are "part of the team" is a increase in customer service. The services and products to customers will be targeted towards them based on the data you can gather from the system.
Better Customer Retention
Being competitive in the banking industry is hard to do. Our CRM system can help to enchant customers, which will increase customer loyalty, and make sure they keep returning to purchase more financial products and services.
More Profit!
Allowing for more business to be done while lowering costs equals more profit
Capture customer information via real-time systems
Allow information to be collected on customers, allowing to understand buying habits and other services
Turning suspects into customers by allowing the marketing department to understand this better
Manage customer relationships
Not included:
Additional training for new staff
Additional costs for unforeseeable parts of the project
The customer contact software is not part of the project scope.
Suppliers and hardware/software transportation
Proposed Methodology
Seeing that a solid IT infrastructure is already in place the second part of the CRM system will be the actual implementation. The way we plan to do this is The conversion form the old system to the new design will be completed using a waterfall methodology. It will include a parallel adoption strategy. IT will run alongside the current system and be transparent when implemented. This is done to reduce any possible risk of downtime or system failure. Shensei Bank being a bank cannot risk any downtime for the sake of the value clients and customers.
Acceptance Testing
The acceptance testing will be done after the new CRM system is implemented. The testing will be performed by one of our senior IT consultants. Once both have come to an agreement the system will be considered approved and completed. The criteria of testing will include application functionality , infrastructure integration and performance in terms of functionality.
Summary of Project Deliverables
Key Deliverables
Research and purchase key hardware and software to be used in the implementation
Implement and align the CRM system with the existing infrastructure.
Test and Fix any bugs detected in the system
Make sure integration with other departments are done correctly.
Start using system and monitor for any changes or system flaws.
Recommendations
Our recommendation comes from carefully analyzing your infrastructure are to go ahead with implementing this system. Based on your top most priority of achieving a high level of customer satisfaction. Implementing this CRM system will help to fulfill your current goals and future objectives. Many of your products and services will be available to customers but keeping track of what they buy, when they buy and how much they buy should be can all be treacked via this system.
Process:
A company's business processes must be reengineered after a thorough analysis to bolster and support the CRM initiative, from the view of how this can help the customer and the firm's efficiency.
Technology:
A CRM implementation must select the right technology to drive these improved business processes, provide the best information to the end users, and be easy enough to operate to keep people using the system.
People:
A CRM implementation must select the right technology to drive these improved business processes, provide the best information to the end users, and be easy enough to operate to keep people using the system.
