Matching Customer Processes with Business Processes of Banks: The Example of Small and Medium-Sized Enterprises as Bank Customers

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1 Matching Customer Processes with Business Processes of Banks: The Example of Small and Medium-Sized Enterprises as Bank Customers Jürgen Moormann Diana Heckl September 25th, 2007 F r a n k f u r t S c h o o l d e

2 Overview 1 Background and research question 2 Literature 3 Methodology 4 Identification of customer processes 5 Design of a customer-centric business process model 6 Discussion 7 Conclusion F r a n k f u r t S c h o o l d e 2

3 Overview 1 Background and research question 2 Literature 3 Methodology 4 Identification of customer processes 5 Design of a customer-centric business process model 6 Discussion 7 Conclusion F r a n k f u r t S c h o o l d e 3

4 Background Current situation: - Fierce competition in all customer segments - Difficult to differentiate - Hard to survive in saturated markets (-> business model, costs, income) Understanding the culture: - Delivering products and services the customers ask for - Silo thinking - Customer orientation: serving customers fast, competent and courteously Customers perception: - Low satisfaction - Banks solve isolated problems only - Intrinsic requirements, expectations, and wishes are not addressed F r a n k f u r t S c h o o l d e 4

5 Research question How can the business processes of banks get aligned to the processes of their customers? Application area: SME clients of banks F r a n k f u r t S c h o o l d e 5

6 Background: Basic idea of customer centricity There is only one starting point for bank business: the customer Home Car Retirement Holiday Finding friends Shopping customer processes Real estate brokerage Insurance business Mortgages/ Loans Payments Brokerage financial services Offer of banks regarding the customer processes: Housing Caring for the old age F r a n k f u r t S c h o o l d e 6

7 Background: Example of a customer process (private clients) Selected parts of the customer process Car ownership Gathering information Asking for offers Make decision Close deals with car dealer, bank, insurance company Conduct several admin tasks Use car Financial services process channels Acquisition, advising, selling Service How can a bank integrate itself into customer processes? F r a n k f u r t S c h o o l d e 7

8 Overview 1 Background and research question 2 Literature 3 Methodology 4 Identification of customer processes 5 Design of a customer-centric business process model 6 Discussion 7 Conclusion F r a n k f u r t S c h o o l d e 8

9 Literature True customization needs a clear focus on the customer s preferences and expectations (Hammer 2002, Vandermerwe 2000, Edvardsson 1997) Transformation from product-driven to customer-centric thinking (Österle 2001) Customer process (Behara 2002) Customer-centric business process (Bolton 2004, Chen & Popvich 2003) Integration of the customer into value creation (Piller & Möslein 2002) How do customer process attributes affect the customer experience (Thompson & Davies 2007) Customer process orientation in the pharma industry (Alt & Puschmann 2005) resp airline industry (Gustafsson et al 1999) Bank-related business processes based on customer processes (Heinrich 2002) Alignment of Web sites of banks to customer processes (Kahmer & Moormann 2005) Creation of value added services at the example of a customer process (Moormann & Wilkerling 2006) F r a n k f u r t S c h o o l d e 9

10 Overview 1 Background and research question 2 Literature 3 Methodology 4 Identification of customer processes 5 Design of a customer-centric business process model 6 Discussion 7 Conclusion F r a n k f u r t S c h o o l d e 10

11 Methodology 1a Identification of customer processes 1b Analysis of the current customer process orientation 1c Identification of value adding services which support customer processes 2 Design of a customer-centric business process model - Decision on make or buy of products/services - Concept of a business process model which integrates internally and externally produced products/services F r a n k f u r t S c h o o l d e 11

12 Methodology 1a Identification of customer processes 1b Analysis of the current customer process orientation 1c Identification of value adding services which support customer processes 2 Design of a customer-centric business process model - Decision on make or buy of products/services - Concept of a business process model which integrates internally and externally produced products/services F r a n k f u r t S c h o o l d e 12

13 Overview 1 Background and research question 2 Literature 3 Methodology 4 Identification of customer processes 5 Design of a customer-centric business process model 6 Discussion 7 Conclusion F r a n k f u r t S c h o o l d e 13

14 Business processes of SME clients business processes acquisition and sales acquire customers provide offer negotiate contract processing core processes support processes management processes production plan asset requirement plan financial requirement plan schedule plan capacities fulfillment accept plan implement delivering assure quality human resources employ staff train junior staff personell administration pay employees money and credit provision analyze liquidity plan liquidity determine capital requirements raise capital resourcing analyze supply market analyze resource requirement procurement resource storage planning distribution planning production planning procurement planning personell planning distribution management and controlling production controlling procurement controlling staff controlling financial controlling others wage compensation plan machine scheduling invoicing employee protection apply for capital financing planning produce products accounts receivable staff capacity planning financial reporting accountant management check quality cost and profit management warehousing controlling F r a n k f u r t S c h o o l d e 14

15 Processes of SME clients with the highest demand for support business processes acquisition and sales acquire customers provide offer negotiate contract processing core processes support processes management processes production plan asset requirement plan financial requirement plan schedule plan capacities fulfillment accept plan implement delivering assure quality human resources employ staff train junior staff personell administration pay employees money and credit provision analyze liquidity plan liquidity determine capital requirements raise capital resourcing analyze supply market analyze resource requirement procurement resource storage planning distribution planning production planning procurement planning personell planning distribution management and controlling production controlling procurement controlling staff controlling financial controlling others wage compensation plan machine scheduling invoicing employee protection apply for capital financing planning produce products accounts receivable staff capacity planning financial reporting accountant management check quality warehousing Wish for support of this process cost and profit management controlling F r a n k f u r t S c h o o l d e 15

16 Identification of opportunities to support the acquisition and sales process SME clients process analyze sales market Core process Acquisition and sales acquire customers analyze customer requirement give product advice provide offer negotiate contract processing subprocess processing execute mailing bring to account accounts receivable F r a n k f u r t S c h o o l d e 16

17 Identification of opportunities to support the acquisition and sales process SME clients process Opportunities for support analyze sales market Field research Secondary research Market prognoses Benchmarking/ competitor analyses Core process Acquisition and sales acquire customers analyze customer requirement give product advice provide offer negotiate contract processing subprocess processing execute mailing bring to account accounts receivable Costumer mediation Extensive customer inform Material on product information Customer rating Legal consultancy Quality check Shipping firms, mail Billing/ -mailing Payments Sales promotion/ activities Feasability studies Ideas for new products/solutions Data on competitors Bank garanties Financing/Letter of credit Insurance Reminders Advertisements Information on technological innovations Support for product financing Ensuring of payments Support during contr suspension Public relations work Hints on public financial aid Support for export Ensuring liquidity F r a n k f u r t S c h o o l d e 17

18 Overview 1 Background and research question 2 Literature 3 Methodology 4 Identification of customer processes 5 Design of a customer-centric business process model 6 Discussion 7 Conclusion F r a n k f u r t S c h o o l d e 18

19 Generic model of the business architecture Customer process Interface to the customer Service Integrator Shared Service Provider Exclusive Service Provider Public Service Business Collaboration Infrastructure Source: Winter (2003), p 97 F r a n k f u r t S c h o o l d e 19

20 Customer-centric business process model (1) selling companies (acquisition and sales process ) buying companies (resourcing process) analyze sales market acquire customers analyze customer requirement give product advice provide offer negotiate contract processing subprocess processing execute mailing bring to account accounts receivable e-shops seller (1 : n) process oriented business client portal buyer 1 buyer 2 buyer 3 buyer 4 virtual market places seller 1 seller 2 seller 3 (m:n) buyer 1 buyer 2 buyer 3 seller 1 seller 2 seller 3 seller 4 desktop purchasing systems buyer (m : 1) analyze supply market analyze resource requirement resource storage resource protection F r a n k f u r t S c h o o l d e 20 inquiry offer comparison ing closing of contract quality control payment/ contractual defects subprocess procurement procurement

21 Customer-centric business process model (2) ctd processing subprocess processing execute mailing bring to account accounts receivable seller 1 seller 2 seller 3 seller 4 desktop purchasing systems buyer (m : 1) quality control payment/ contractual defects procurement resource storage resource protection customer relationship management affiliates bank market development insurances firm infrastructure companies building companies mortgage banks personnel management product management technology management market reports currency development leasing companies acquisitiobution process vice ser- analyzes distri- macroeconomic etc margin margin co-operating partners consultancies legal/tax advisors market research chambers of commerce universities etc F r a n k f u r t S c h o o l d e 21

22 Looking at the subprocess Provide offer selling companies (acquisition and sales process ) buying companies (resourcing process) analyze sales market acquire customers analyze customer requirement give product advice provide offer negotiate contract processing subprocess processing execute mailing bring to account accounts receivable e-shops seller (1 : n) process oriented business client portal buyer 1 buyer 2 buyer 3 buyer 4 virtual market places seller 1 seller 2 seller 3 (m:n) buyer 1 buyer 2 buyer 3 seller 1 seller 2 seller 3 seller 4 desktop purchasing systems buyer (m : 1) analyze supply market analyze resource requirement resource storage resource protection F r a n k f u r t S c h o o l d e 22 inquiry offer comparison ing closing of contract quality control payment/ contractual defects subprocess procurement procurement

23 Activities of the subprocess Provide offer (partial view) (1) analyze sales market acquire customers analyze customer requirement give product advice provide offer negotiate contract processing checklist for offer definition price market surveys economic reports price definition quality reference prices e-shop provider virtual market places possible quality arguments for the customer quality surveys customer ratings external quality inspector bank guarantee payment system access to other portal users evaluation definition of quality arguments links to other, audited, local quality inspector links to chambers of commerce, etc information on bank guarantees request of personal advice offer/condition description closing of contract, etc information on letter of credits F r a n k f u r t S c h o o l d e 23

24 Activities of the subprocess Provide offer (partial view) (2) access to other portal users evaluation definition of quality arguments payment conditions checklist for payment conditions information about cash discount agreements cash discount calculator fixing payment conditions links to other, audited, local quality inspector links to chambers of commerce, etc methods of payment bank transfer, exchange, cheque letter of credit documentary credit information on bank guarantees information request of personal advise request of personal advice offer/condition description closing of contract, etc legal hints link to local tax and legal advisors offer/condition description information on letter of credits closing of contact etc F r a n k f u r t S c h o o l d e 24

25 Overview 1 Background and research question 2 Literature 3 Methodology 4 Identification of customer processes 5 Design of a customer-centric business process model 6 Discussion 7 Conclusion F r a n k f u r t S c h o o l d e 25

26 Weaknesses and potential pitfalls Concept depends on the customers confidence in the bank s competence for delivering the offered value-added services Insufficient services of co-operating partners may affect the bank s image A customer receives only information and support which is designated to a particular process step Legal restrictions may limit the concept F r a n k f u r t S c h o o l d e 26

27 Strengths and further potential Customer processes are the basis for designing the process architecture of the bank Business processes (and products & services) of the bank are directly linked to the customers processes (and their requirements) Enormous potential regarding new value-added services including the opportunity for increased revenues and profits High level of comfort for the SME clients: Increased customer satisfaction and loyalty F r a n k f u r t S c h o o l d e 27

28 Transformation of banks towards customer-centric enterprises wwwcitibankcom/us/citibusinessonline/ wwwbankofamericacom/small_business/online_banking_and_services/ wwwwachoviacom/small_biz/ selling companies (acquisition and sales process) Citibank Account Management Information Reporting Receivables Payables Funds Management Security and Accountability Bank of America Overview Online Business Suite Account Viewing Transaction Reporting Online Payments Transfers Quicken/Quick Books Invoicing Self-Service Easy Online Payroll Tax Services Merchant Reporting Discount Program Frequently Asked Questions Today: product-oriented Wachovia Online Services Online Banking Online Brokerage Foreign Exchange Demos Evergreen Connect k MerchantConnectcom Lending Retirement HR Solutions Banking Insurance Investing Meeting your Needs Resource Center Customer Service execute mailing bring to account accounts receivable F r a n k f u r t S c h o o l d e 28 subprocess processing analyze sales market acquire customers analyze clients requiremt give product advice provide offer negotiate contract processing customer process-oriented

29 Overview 1 Background and research question 2 Literature 3 Methodology 4 Identification of customer processes 5 Design of a customer-centric business process model 6 Discussion 7 Conclusion F r a n k f u r t S c h o o l d e 29

30 Conclusion - First applications of customer process oriented support are available in non-financial areas - Opportunity to create value for the customers of banks and to improve income - Studies on exact requirements, desired process support, acceptance, prices for services, costs for implementation etc are necessary - More research on customer processes has to be done - Model helps to transform banks from product-oriented into process-driven organizations F r a n k f u r t S c h o o l d e 30

31 Contact Prof Dr Jürgen Moormann Frankfurt School of Finance & Management Sonnemannstraße Frankfurt am Main Germany T F Diana Heckl Frankfurt School of Finance & Management Sonnemannstraße Frankfurt am Main Germany T F F r a n k f u r t S c h o o l d e 31

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