Introduction The Big Eye Openers: Microsoft Dynamics CRM Inside Microsoft Dynamics CRM Next Steps

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2 Still searching for the 360-degree view of your customer? Faced with ever-changing customer behavior, dissatisfaction with fees and service levels, competition from new market entrants, and the erosion of customer loyalty, financial institutions are competing as never before. To drive growth through customer acquisition, while retaining, up-selling, and crossselling to existing customers, financial institutions are seeking to better understand profitability per customer, increase the relevance of offers, and ensure a seamless customer service experience across channels. Essentially, the customer experience has become the key differentiator. WHAT IF you could increase customer profitability, improve customer loyalty and retention, and optimize operational efficiency while keeping costs in check? The Microsoft Vision At Microsoft, we believe that to succeed in today s industry, financial institutions must increase customer profitability through improved sales productivity, build customer loyalty and retention through impeccable service, and optimize efficiency by streamlining operations. These capabilities are driven by a connected view of customer and market opportunities, the ability to design products and offers most relevant to customer demands, and ensuring a seamless customer experience across all channels. At Microsoft, we are making this a reality. Microsoft is supporting financial institutions in transforming how they sell and service their customers, outsmart their competition, and boost operational efficiencies. Microsoft Dynamics CRM business software enables increased sales and service productivity with innovative and easy to use tools that deliver improved efficacy, proactive insight, and enhanced collaboration in the cloud or on-premises. This paper is part of a series that illustrates Microsoft s commitment to the financial services industry through advances in our product portfolio designed to drive optimized business outcomes for banks, insurers, and capital markets firms across the globe. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 2

3 The Big Eye Openers: Microsoft Dynamics CRM Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 3

4 The deep integration between HGi and the Microsoft Dynamics platform allows Henderson to understand and respond to clients needs and manage individual experiences directly within the CRM toolset. Joel Miller, Business Manager Henderson Global Investors Our entire distribution channel relies on a solution anchored by Microsoft Dynamics CRM, which provides the scalability, flexibility, and ease-of-use we sought. We are excited about the opportunities it provides for Insphere. Frank Jackson, Senior Vice President Insphere Insurance Solutions With Microsoft Dynamics CRM, we have a distribution relationship management toolset that is helping us maintain and improve market information. Our brokers are getting new product information to their customers faster and taking advantage of better management from our relationship managers. Driving Customer Profitability by Transforming the Sales Process The status quo sales process in this economy will not enable a financial institution to compete and grow. What if your advisors and agents could spend less time mired in administrative details and more time calling on the right set of customers? Imagine providing the power of the office on a mobile device for advisors while on the road. Many customer relationship management (CRM) and sales force automation systems have evolved as passive, backward-looking systems of record and often represent yet another disjointed step the advisor needs to take as part of the process. A modern sales process needs to be more focused on helping advisors and product teams deliver real value to customers. Tools to enable and accelerate the sales process need to provide context, delivered in a flexible format that aligns with the needs of the advisor and the ever-changing needs of the customer. Cross and up-selling are not afterthoughts, they are seamlessly and naturally incorporated as part of the process. Advisors and agents need one place to go that brings the right information to them. If they manage their business through the Microsoft Outlook messaging and collaboration client, why wouldn t you surface customer insight and analysis capabilities there? If they prefer to use a mobile device while in front of customers, the experience likewise should be compelling and easy to use. Vincent Jacobs, Customer Focus Manager Allianz Belgium Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 4

5 Microsoft Dynamics CRM provides a customizable, scalable platform that can easily integrate with existing line-of-business systems to empower advisors with the tools required to identify profitable customers and provide superior financial advice. Key scenarios highlighting the potential for Microsoft Dynamics CRM in improving sales productivity include: Accelerating new revenue opportunities. Microsoft Dynamics CRM supports you in identifying your highest value clients to better capitalize on revenue opportunities. It enables the integration of line of business applications and data silos to create a unified customer view including account information, customer profitability, interaction history, and banking preferences and behavior so you can target the right offer to the right customer at the right time. Transforming front line staff mobility and productivity. Microsoft Dynamics CRM supports mobile employees in working productively using a variety of mobile devices to access client and product information, contact customers, receive alerts, and more ensuring advisors are better prepared with access to customer data, preferences, and account holdings no matter where they are. With a native Outlook user experience, Microsoft Dynamics CRM helps make CRM easier to adopt and reduces training time and cost by using tools people already know. The Microsoft Dynamics CRM Outlook client works both online and offline. When offline users come back online, Outlook seamlessly synchronizes all the changes back to Microsoft Dynamics CRM. Targeted marketing campaigns. Microsoft Dynamics CRM supports you in developing targeted marketing campaigns to attract new clients and improve household product ratio. It provides a foundation to more effectively segment customers using rich data and demographics, build prospect lists, create and manage campaigns, and measure the return on investment. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 5

6 Empowering the channel. With Microsoft Dynamics CRM, you can better empower the channel with value-add tools that reduce laborious tasks and give advisors and brokers more time for customers. Microsoft Dynamics CRM enables better collaboration via a shared real-time view of customer and product information, and ensures that agents have access to the right information at the right time by integrating data from line-of-business systems into Microsoft Dynamics CRM. Microsoft Dynamics CRM also supports the tracking of advisor and agent performance, and activities. It provides valuable sales tools and personalized training, and proactively executes corrective measures to boost agent performance and loyalty. Actionable analytics. Microsoft Dynamics CRM delivers powerful, contextual analytics, real-time configurable dashboards, and key performance indicators to the desktops of advisors and brokers on new products purchased, client communications, claims processing, and more so they can make better-informed decisions. It also enables you to mash legacy, current, cloud-based, and third-party data to provide a comprehensive view of market opportunities. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 6

7 Customers must feel that they are really taken care of. With Microsoft Dynamics CRM, we now have the data and workflows at hand to provide this really attentive, proactive service. Cilla Wahlström, Global System Owner CRM, SEB Wealth Management Microsoft Dynamics CRM enabled us to simplify the huge and complex integration works across various host systems and meet the goal of achieving single customer view in the shortest time possible Lim Kuo Siong, Head of IT and ebusiness Maybank Singapore We now have much better insight into the business Information that resided in several databases is consolidated into one system, giving our business managers more time for customer-facing interactions. Productivity has improved with Microsoft Dynamics CRM. Improved Customer Retention Through Optimized Service Levels The old adage is true: it is much easier to keep an existing customer than find a new one. The problem is that, in today s economic climate, customer loyalty has been severely eroded. Customers expect a consistent real-time service across multiple channels. They are more likely to switch providers based on satisfaction levels versus fee structures. And it s much easier today for customers to uproot their relationship with their bank, insurance agent, or broker. So the question is: why would a customer want to stay with you? You need to regain customer trust. Trust builds loyalty, and loyal customers are profitable customers. The problem is that traditional service and support systems as we discussed earlier are perceived as punitive by both the customer and advisors. Your customers do not have the time or the patience to navigate your systems or be connected to another representative who can help. Proactive customer advocacy is needed, and so is a new approach to optimizing service. Advisors and relationship managers need easy-to-use tools that enable them to analyze existing customer and market information and use it to advise customers in a way that is relevant and actionable. They need to transform the interaction into a meaningful conversation that not only educates the customer, but also provides the information and expertise needed to help the customer in making a buying decision. Jean-Claude Swalus, Business Solution Manager, AXA Belgium Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 7

8 Making this vision a reality requires a flexible approach to integrating systems, information, and processes across the organization. Ultimately, the goal is to provide a consistent and transparent approach to delivering relevant information to the customer. To support financial institutions in building customer loyalty and retention, Microsoft Dynamics CRM provides a suite of tools that allow advisors to analyze existing customer and market information, better understand customer preferences, and ensure pricing policies are aligned to retention strategies. Key scenarios highlighting the potential for Microsoft Dynamics CRM in optimizing service levels include: Streamlining service delivery. Microsoft Dynamics CRM enables you to empower staff with contextual analytics, intuitive case tracking, and internal social and collaboration tools to deliver high-quality service across all channels to streamline claims handling, escalations, and issue resolution, and identify cross and up-selling opportunities. Aligning pricing and customer retention strategies. Microsoft Dynamics CRM helps you ensure that your pricing policies are aligned to your retention strategies, by analyzing their impact on overall customer relationships. This analysis helps you better understand customer preferences in order to provide superior advisory services to ultimately improve wallet share and loyalty. Accelerating customer decision making. Microsoft Dynamics CRM, coupled with other Microsoft products such as SharePoint services, SQL Server database software, and PowerPivot for Excel spreadsheet software, enables the advisor to conduct analysis, create goal-oriented strategies, and present them in an easily consumable fashion to customers. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 8

9 Tracking and using business relationships. Microsoft Dynamics CRM enables you to unify the tracking of decision makers, influencers, constituents, and partners using a single system. You can also take advantage of social features and tools to identify revenue opportunities and new forms of communication within and outside your organization. Communicating through the customers preferred channel. Microsoft products such as Office, SharePoint, Lync communications software, and Skype, integrated with Microsoft Dynamics CRM, provide a single vendor integrated solution for reaching customers when they want in the manner that is preferred. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 9

10 We chose Microsoft Dynamics CRM for a number of reasons the fast time to market, quality of service within Turkey, strong integration with Microsoft Office products, and low total cost of ownership. Hüseyin Sivri, CIO ING Bank Turkey Integration with Microsoft Office Outlook was critical. All of our branch users open Outlook every day, and that s the tool they are comfortable with. Shawn Tabor, Technology Product Manager Raymond James Financial We want our technology to adapt quickly to the needs of our business. Microsoft Dynamics CRM fulfilled all of our criteria and represented excellent value for the money. Gökhan Özüm, Product Development and Strategic Planning Senior Vice President, Pensions Garanti Pension and Life Competitive Differentiation Through Optimized Operational Processes Competition from new market entrants who push the innovation envelope is presenting an everincreasing challenge for financial institutions. Wouldn t it be great to deliver products and services that your customers actually want rather than products and services that your systems are only capable of delivering? Until now, it s been much easier said than done. Financial institutions need to navigate and automate regulatory, actuarial, and marketing processes involved in creating new products. These new products are complex and many are unproven, with pricing, rating, and underwriting practices still evolving. Financial institutions therefore need to respond quickly to the market and adjust their operations accordingly. Also, at a time of explosive growth in structured and unstructured big data, the ability to manage this data is paramount. Now is the perfect time to evaluate how you can optimize processes to support sales and service use cases. Imagine the following example: 1. The advisor, working with a customer, identifies a new service offering that s not available today. The advisor makes a note on her tablet that is sent to the marketing team. 2. The marketing team reviews the opportunity and undertakes analysis with other similar customer profiles to assess the market potential for this new service add-on. They begin developing a targeted marketing campaign to be ready to launch once the new service is developed by the product team. The product team is alerted to the opportunity through a consistent channel and has all of the necessary information in context to review the opportunity. 3. The product team develops the add-on having full visibility of regulatory requirements, perspectives from adjacent markets, and previously documented customer needs. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 10

11 4. The new service is communicated broadly and consistently back to marketing and the advisor community, along with the launch of the targeted marketing campaign through the right customer channels. 5. Once in market, advisors and marketing can keep track of customer sentiment and product performance, and make adjustments on the fly if needed. The Microsoft advantage is a suite of tools to streamline processes, data, and content flow between sales, marketing, and product groups providing more agility and enabling them to respond rapidly to market, customer, and regulatory changes. Microsoft Dynamics CRM, coupled with other powerful workflow, business process management, content management, search, and data integration tools from Microsoft, provides financial institutions with the ability to perform continuous re-engineering to achieve optimal operational efficiencies. Key scenarios highlighting the potential for Microsoft Dynamics CRM in optimizing operational processes include: Legacy system integration, Microsoft solutions are equally adept at bringing new capabilities to financial institutions as they are at streamlining existing legacy systems and bolstering them with functionality to handle new capabilities. Microsoft Dynamics CRM provides sales, marketing, and process automation tools, and at the same time enables financial institutions to integrate and modernize legacy system functionality without incurring the significant expense of replacing those legacy systems. Social and collaboration tools. Financial institutions need to respond to the demands of their customers to collaborate within their social network. As the customer enjoys the benefits of their digital lifestyle, they expect no less from their financial services provider. At the same time, financial institutions need to provide better collaboration and social networking tools within the enterprise. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 11

12 Enabling employees to communicate and collaborate through internal social channels has clear benefits in terms of employee productivity and faster time to issue resolution. Coupled with built-in social enterprise tools, you can take advantage of the powerful capabilities of Microsoft Office, Lync, and SharePoint right within Microsoft Dynamics CRM. Robust business intelligence: With business intelligence capabilities powered by SQL Server, Microsoft Dynamics CRM provides key insights for all roles within the organization. The key point here is that all the business intelligence features within Microsoft Dynamics CRM can be created and surfaced in a self-service manner without requiring dedicated developers. Optimizing risk management and ensuring compliance. With Microsoft Dynamics CRM, you can analyze segmented customer data and seamlessly integrate with line-of-business systems to identify risk-elevating behaviors such as late payments, low credit rating, and other triggers, so you can better manage your exposure. Microsoft Dynamics CRM also enables you to automate regulatorrequired processes and provide a detailed audit trail to help ensure full compliance with regulatory standards while protecting privacy and confidentiality. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 12

13 Inside Microsoft Dynamics CRM: Optimizing Sales and Service Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 13

14 Microsoft Dynamics CRM brings together a broad range of Microsoft technology, making it easier for businesses to collaborate, connect, and deliver results. Microsoft Dynamics CRM runs in Outlook, so users can move between tasks with greater ease and without disruption. Microsoft Lync, SharePoint, and SQL Server business intelligence tools provide embedded communications, collaboration, and analytics capabilities within the end-to-end business solution. This pervasive interoperability creates a better user experience, reduces IT costs and complexity, and puts new Microsoft products into customers hands without headache. Insightful: Information that is Insightful and Actionable Big data, social media, and contextual analytics present major opportunities for business insight, and open up a whole new range of possibilities for financial institutions. Data volume continues to grow exponentially, as does the ability to derive meaning from it. Social commentary has accelerated at the same pace and provides instant insight into business success or failure. Capturing this data and being able to tap into its rich and valuable insight is a critical requirement for financial institutions today. Microsoft Dynamics CRM, coupled with business insight solutions from Microsoft, helps your people not only integrate and understand these new data sets, but also get better answers with suggested actions so they can excel in the work they do. Microsoft achieves this by creating solutions that enable people to calculate business possibilities in real time. By focusing on connected, forward-looking systems, Microsoft enables people to access actionable information with greater speed and agility helping financial institutions to respond more efficiently, effectively, and proactively to changing market conditions. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 14

15 Connected: An Organization that is Collaborative and United Modern solutions not only connect people inside and outside the organization, they also give them context and insight which drives better decisions and boosts productivity. An important part of Microsoft s mission is to drive connections with people, with customers, and with business partners across processes, data, and the ecosystem in which organizations operate. You can take advantage of the powerful capabilities of Microsoft Office, Lync, and SharePoint, coupled with built-in social enterprise tools, right within Microsoft Dynamics CRM, providing everything from to voice to video to presence to social. All of these tools are designed with a singular goal of giving people and organizations more effective ways of: Using the exploding number of channels to connect with customers at the time and place of their choosing. Creating an inclusive, listening organization by extending collaboration scenarios that exist internally to include customers. Evolving from an organization that engages with individual customers to one that capitalizes on the crowd to benefit the brand. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 15

16 Adaptable: On-Premises or Off-Premises Your Choice Just as you want to provide your customers with the power of choice, we believe in giving our financial services customers the benefit of choice related to how you deploy Microsoft Dynamics CRM. We provide both an on-premises and cloud-based version to best fit your specific business needs. We offer the option to migrate from one deployment model to another as your business needs change, allowing you to perform continuous re-engineering to achieve optimal efficiencies and benefit from the cloud on your terms. Flexibility: With Microsoft Dynamics CRM Online, you can scale the number of users up or down, based on your business requirements, with complete autonomy over how you operate, manage, configure, and secure your solution. Security: Microsoft Dynamics CRM Online has an end-to-end approach to security that begins with the development of the application through to the service s operations and management. The solution is managed by highly skilled network operations personnel in Microsoft data centers worldwide, having achieved ISO accreditation and SAS70 Type II attestation. Simplicity: Microsoft Dynamics CRM Online simplifies the management experience by providing ongoing application monitoring and maintenance enabling your IT staff to focus more on supporting the priorities of your business. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 16

17 Next Steps Many banks and financial institutions have struggled with CRM deployments over the years. If you have been in the business long enough, you most likely have personally experienced a CRM project that was over budget, delayed, and ultimately didn t accomplish the goals that were originally set. At Microsoft, our fundamental goal is to break that cycle by providing a flexible, cost-effective platform either on-premises or in the cloud that is designed to be easy to implement, deploy, and get adopted by your staff. A major differentiator between Microsoft Dynamics CRM and the competition is our customers track record of successful deployments. We welcome you to sit down with your Microsoft representative to talk more about the advantages of the Microsoft approach to the connected customer view. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM 17

18 2013 Microsoft. All rights reserved. This document is provided as is. Information and views expressed in this document, including URL and other Internet website references, may change without notice. You bear the risk of using it. This document does not provide you with any legal rights to any intellectual property in any Microsoft product. You may copy and use this document for your internal reference purposes. Transforming Sales and Service in Financial Services: Microsoft Dynamics CRM