banc vue beats the big banks - using suga
TRANSCRIPT
04/13/2023
Winning the War against the Big Banks
The SugarCRM Journey
Agenda
Introduction to BancVueBusiness ChallengesWhy Sugar Professional?The DeploymentThe ResultsQ&A
04/13/2023 ©2010 SugarCRM Inc. All rights reserved. 2
Speakers
Geoffrey MobissonManaging Director – Levementum
Jon ParmleyBusiness Analyst – BancVue
Jan SysmansDirector of Product Marketing - SugarCRM
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Who is BancVue
A financial services revolutionary:
At BancVue, our mission is to enable apowerful network of community financialinstitutions to re-establish themselves asthe go-to-place for banking products and
services and win the war
Who are BancVue’s Customers
Community BanksCredit UnionsSmaller Banking Institutions
“Attracting core deposits is very difficult for communitybanks these days. Add to the fact that expenses arerising as margins are shrinking. Innovative products,online marketing, and a real website are the only wayto compete against mega and internet banks.”
Larry Daniel, Director of Retail BankingFirst Arkansas Bank & Trust
BancVue Factoids
Started 2005Inc 500 – 2nd fastest growing privately owned banking/financial services firm in the US!700+ clientsMission: BancVue's mission is to empower our partners to win the war against the Mega-Banks with innovative products, world class marketing, ongoing training and data driven consulting.Beats the competition through Customer Service over the long haul
ConsultingMarketing/MediaTechnology Services
How does BancVue create value
REWARDChecking:Free checkingPays a rate of interest based on goals (not balance!)
Use your debit card N timesUse paper statements
Eye catching rates! Example…3% in 2010.Free ATM usage…including refunded fees!CheckingFinder.com
Find a BancVue powered credit union or community bank
RealSolutions for New Millennials (build new relationships…build trust with the new breed)
…low balances
iTunes instead of Interest
How does BancVue create value
REALSaver:Automatically push RewardChecking interest into savings/checking accountsAutomatically push ATM fees into savingsHigh interest rates!
REALGivingEmpowering them to generate contributions to a cause they are passionate about, simply by banking with you. Aligned with nationally recognized organizations:
American Humane Association
Stand Up To Cancer™
Boys & Girls Clubs of America.
Plus, you can tailor your program by adding two more locally known charitable categories.
How do we differentiate ourselves
There are “me-too” products in the space…but…BancVue competes through innovative products and services:
ConsultingMarketingMedia and AdvertisingTechnology SupportOngoing Training Mystery Shopping
Community banks face unprecedented challenges from huge competitors with enormous
budgets. The spending power of mega banks and net banks supports the research,
development and marketing of new products and highly targeted online campaigns that readily
capture new customers. These same competitors even aggressively go after markets where
they don’t have a single branch. If it seems like there’s no way to fight back, think again!
The BancVue mindset
The BancVue culture!
Interdependence!5-Star Leadership!Love!Badassitude!
The Operational Challenge
Software Development
Production teamProduct Management
Engineering
Marketing and Media (Microsites)
Accounting
HR
Sales
Business to Business Marketing
SupportTraditional Customer Service
Management Analytics
Kasasa
Delivering on the promise...requires a diverse set of service teams
They MUST communicate efficiently and effectively!
They MUST have a consistent definition of customer…and customer status!
Why did BancVue need to do something?
With the breadth of services…”Data Silos” sprouted everywhere
Data in emailsData in access databasesData in ancillary CRMsData in excel spreadsheet
Efficiencies - Employees having to search for data that should be at their fingertipsA need to track the full lineage of a customerAnalytics & Workflow to support process fluidity
Why SugarCRM Professional
Flexibility to build out customized modulesNeed to implement rapid change…not just initially, but ongoing
BancVue has a need to be able to respond to market change rapidly
Data Security…a need to manage data religiouslyA fluid process, and strong Workflow capabilitiesScale…everybody has an account!A need for powerful & transparent work ticket features (cases) to support the customer service operation and to consolidate customer communicationsA need for robust Analytics and Reporting
Example Problems
Sales example:Reporting and tracking of sales was on multiple sourcesLimited accountability…Critical given the length of the sales cycle (1.5 – 18 months)
Customer ServiceData silos made it difficult to quickly make sense of what a customer’s “world” looked like.Led to delays in delivery of valueEnhancement of the existing BancVue Knowledge Base was needed to support customer care and value delivery
What did we do? 1. Optimize The Sales Process.
The Sales ProcessAccurately reflect all the FDIC and NCUA institutions…prospectsCapture key metrics on the asset size, and other valuable measures that dictate potential opportunity profiles.
Institution ProfilesInstitution characteristics
Branches
Contacts
Products activeServices delivered
UpsellManage Leads and Opportunities
Via defined status definitions for analysis and team selling
Sales Analytics!
What did we do? 1. Clean up The Sales Process.
Focus on capturing accurate data!
What did we do? 2. Opportunity Management.
Carefully manage data collection
Products considered
Probabilities
Due diligence
Collection of data
Documents
and Contracts
What did we do? 3. Contract Management.
Manage the iterative process of contract acceptanceManage the outputs of the process
Master Services Agreement
Supporting Agreements
Other documents
Related products
and services
What did we do? 4. Customer Provisioning
Customer provisioning pipelineWork ticket managementProcess
Installation
Integration
Sub work tickets
What did we do? 5. Installation and Training
Platform Installation & Training ModulesExecution
Evaluation/Surveys
What did we do? 6. Mystery Shopping
Capture Mystery Shopper’s commentary and experienceProvide a scoring algorithmCapture the event and all data
Implementation Profile and Outcomes
SugarCRM ConfigurationProfessionalVersion 5.2Version 5.5 planned Q2
Software ConfigurationLAMPLinux ApacheMySQL 5.0PHP
Hardware ConfigurationVM environmentSAN storage
Keys to Success
Project Implementation focusIdentified the key agents of change (and agents of pain) and set expectationsSet an expectation and exceed the targetFocused on data and process!Don’t over promise!
Over-communicateCommunicate as often as possible!Leverage internal artifacts (newsletters, surveys, email feedback)
Prescriptive trainingUsing SugarCRM’s materials as a baseline, Levementum customized the training to fit the processDeliver training & classes in a prescriptive and focused way
An experienced and intuitive implementation consulting team lead – (Naomi Choi )
Keys to Success – SugarCRM!
Total Cost of Ownership
Flexibility
Scalability
Control of our own Destiny!
Project success…following the creed
We believe good values start with a good family and ours is no exception. Our company is built on a core value system that transcends business as usual
and defines our leadership philosophy.
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About Levementum
Founded 2005Added SugarCRM service line 2005 (v3.5.1)Added Compiere ERP service line 2008Added Pentaho BI service line 2009Added Magento e*Commerce service line 2009Added Mindtouch Collaboration service line 2009
Mission: Drive “world class” Revenue & Margin results using Open Source Technology and Process focused Methodology
Company InformationOffices:
Phoenix, AZ (Headquarters)New York City, NYAtlanta, GA
Q & A
Questions?
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Thank You!
Don’t hesitate to reach out to us for more on the story!
Jon Parmley, [email protected]
Geoffrey Mobisson, [email protected] 320-2520