how harvard's trust & gifts department uses crm

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Customer Relationship Management (CRM) tool for Harvard Management’s “Trusts and Gifts” Department Patrick Conlan May, 2012

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Learn how Harvard Management used Pivotal to bring all their disparate systems together for a streamlined process which treats every donor (and related party) as a highly valued customer. Patrick Conlan, Harvard Management Company Inc.

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Page 1: How Harvard's Trust & Gifts Department Uses CRM

Customer Relationship Management (CRM) tool for Harvard Management’s “Trusts and Gifts” Department

Patrick ConlanMay, 2012

Page 2: How Harvard's Trust & Gifts Department Uses CRM

Harvard Management Company - Confidential

Harvard Management Company’s Trusts and Gifts Department

• Harvard Management Company

– Invests Harvard University’s Endowment– Offers variety of “Giving Options”, including:

o Illiquid “Special” Giftso Outright, Liquid Giftso Variety of Trusts

These “Giving Options” are managed by HMC’s Trusts and Gifts Department

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Page 3: How Harvard's Trust & Gifts Department Uses CRM

Page 2

Trusts & Gifts’ (VERY) “Special Gifts” Business

Page 4: How Harvard's Trust & Gifts Department Uses CRM

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Trusts & Gifts’ Outright Gifts Function

• Process Outright / Liquid Financial Gifts

Record and Value Gifts for Donor, IRS

Liquidate Gifts immediately

Record exact proceeds from settled sale

Work closely with Harvard University to Reconcile funds and add to the Endowment

Page 5: How Harvard's Trust & Gifts Department Uses CRM

Page 4

Trusts & Gifts’ Trust Processing

Process Trusts

Documentation (Contract)

Liquidate Gifts funding the Trust

Invest Trust per Donor’s / University’s contractual agreements

Make payments to Beneficiaries per contractual agreementsChecksWiresEFT

Send Documentation to Donors and BeneficiariesAppraisalsLettersConfirmations, etc.

Page 6: How Harvard's Trust & Gifts Department Uses CRM

Harvard Management Company - Confidential

Donor Relations Customer and Data Challenges

• Donor Relations can get a call from any interested party on any type of gift or trust– Donor / Family Member– Beneficiary– Lawyer– Agent– University Representative– External Trust manager, etc.

• Donor Relations needs access to information quickly– Pricing to value gifts – Contractual Information– Information on Donor from Harvard University

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Page 7: How Harvard's Trust & Gifts Department Uses CRM

Page 6

Current State Diagram (Before Pivotal CRM)

Current Trusts & Gifts Systems Environment

Tax System

Accounting System

GiftwrapHarvard University

Bloomberg

Check Writing(Secure Check)

-Annuities-PIFs

Document Management

System

Pricing Process

Check Writing (Great Plains)

-Trusts GiftwrapHMC

Database 1Annuities

GiftwrapHMC

Database 2PIFs

Trust Application

(Current CRM)

Gift Client: -Outrights-Annuities(History &

Values)

Estates Application

Tax Info

PowerBuilder Java

.NET

Planned Giving-Trusts

(History & Values)

Java

End Of Day Prices

.NET

Prices & Sec Descriptions

Page 8: How Harvard's Trust & Gifts Department Uses CRM

Page 7

Current Technical State of Trusts & Gifts (Before Pivotal CRM)

The Current T&G Systems Environment is Inefficient and not optimally designed for the T&G Workflow Requirements

• Difficult to Look Up Primary and Related Data for Donors– One of many ‘types’ of people may call T&G: Donor, Spouse, Beneficiary, Lawyer, etc.– Users need ability to view all information relevant to the caller at the time of the call– Users currently need to toggle between systems to get data necessary for call at hand– Users may need to call person back rather than have him / her wait while researching question– Users do not have good records of previous calls / correspondence at their fingertips

• Data is stored in Multiple Locations– Reporting may require joining tables across databases– Inefficiencies with the University (Giftwrap Databases)

• Lack of Integration among System Components– Several unnecessary data re-input points leading to potential errors and waste of time– Mailings are manual and time consuming

• Several Applications are unique to Trusts & Gifts– T&G is – to a large extent - its own ‘island’ at HMC – Not leveraging other HMC Systems enough– Cost Inefficiencies result from multiple sets of systems– Specialized T&G Applications written in PowerBuilder, Java and .NET – Support / Customization Inefficiencies across T&G / HMC– Institutional Knowledge of T&G apps limited to T&G department and T&G support staff

Page 9: How Harvard's Trust & Gifts Department Uses CRM

Page 8

Future State Diagram January, 2012

Pivotal CRM

CCHAccounting System

GiftwrapHosted at HU

Single Database

Check Writing

Pivotal would replace: Estates App (Sep) Planned Giving (Nov 1) Gifts Client: Outright Gifts (Nov 1) Gifts Client: Gift Annuities (Nov 1) Trusts App (Nov & Dec)

Replaces Old Accounting System

Flow and Reconcile static data between Pivotal and VPM

Document Management

System

Data Warehouse

Notes: Pivotal could be used by External Management & others CCH would be only ‘T&G’ software; all others used by HMC

Pricing / Security Master Process

Already built for Endowment Accounting

Ideal Trusts & Gifts Systems Environment

Tax System

Harvard DonorSystem

Begin with 2011

Tax Returns

Begin with 2011 K1’s

Values

State St. Bank

Mut Fund Mgrs

Check Writing

HMC Read Only Access(Donor System ID stored in

Pivotal)

Market Trades

HU T&G

(Man) Recon

Cp Act Auto-Reconcile

Fidelity Vanguard Templeton

= Change to System

= Later Integration= Scheduled Integration= Completed Integration

Page 10: How Harvard's Trust & Gifts Department Uses CRM

Page 9

Future Technical State of Trusts and Gifts

The future state will involve highly integrated, supportable, flexible robust systems whose components will be utilized outside of T&G.

• Create One Stop Shopping for Customer and Related Party Views across T&G– Pivotal can be configured to allow views across multiple sets of data: Gifts, Estates, Trusts, etc.

• Pivotal would be Centralized CRM System– Opportunity to reconfigure all of our CRM interfaces into a single platform– Pivotal may be used elsewhere in HMC: EMS– Greater Institutional Knowledge across HMC– Replace Trusts App, Estates App, Planned Giving Trusts, Outright Gifts, Gifts Client– Facilitate Reporting and Document Publishing– Increased Institutional Knowledge (not concentrated in T&G)

• Pivotal and VPM Implementation– Integrating two major systems in close proximity allows us to reach ‘ideal’ state sooner– Integrating these two systems allows IT to do integration once: fewer ‘throw-away’ integration pipes– However integrating Pivotal and VPM in parallel will need to be managed very closely by IT and

T&G

• Pivotal Implementation outside T&G– Pivotal Integration to EMS or for Other Apps / Groups benefits T&G– Greater support / ideas across HMC– T&G less of an ‘island’ technically and with regard to institutional knowledge

Page 11: How Harvard's Trust & Gifts Department Uses CRM

Harvard Management Company - Confidential

Business Tab and User Friendly Search views in Pivotal

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Page 12: How Harvard's Trust & Gifts Department Uses CRM

Harvard Management Company - Confidential

Gift Processing & Pricing Screen in Pivotal

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Page 13: How Harvard's Trust & Gifts Department Uses CRM

Harvard Management Company - Confidential

Reporting / Batch Edit Sample

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Page 14: How Harvard's Trust & Gifts Department Uses CRM

Harvard Management Company - Confidential

Trust Information Screen in Pivotal

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Page 15: How Harvard's Trust & Gifts Department Uses CRM

Harvard Management Company - Confidential

Project Management / Lessons Learned

• Do pre and post system diagrams; distribute (updated) regularly• Do not underestimate challenges with data• Dream about the best possible system; not copy of existing system• Familiarize yourself with Pivotal functionality before project

– Reporting, States, Batch Edit, Integration, Calculation, Data Validation, etc.• Try to specify (document, diagram) optimal solution before starting project• Attempt to identify risks before the project, and how to mitigate• Decide early how to maintain system long term• Build in ‘scope creep’ assumption to the project plan (and mechanisms to

deal with time, functionality, budget impacts if scope creep materializes)

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Page 16: How Harvard's Trust & Gifts Department Uses CRM

Harvard Management Company - Confidential

Project Risks (Sample items)

Risk 1: CRMC poses ‘key man’ and ‘key company’ risk to HMC. HMC could over-rely on CRMC for technical support, implementation, customization, etc.

Solution: HMC needs to significantly invest in understanding the product, especially technically.

Risk 2: HMC does a poor job defining its requirements to CRMC which could cost money and / or time.

Solution: HMC needs to acknowledge that the initial discovery and analysis phases are critical and to create detailed specification documents, and that the project’s success will be heavily driven by execution in early phases.

Risk 3: HMC over or under estimates the technical or business involvement in completing the project on time, budget, and to customers’ satisfaction.

Solution: HMC needs to manage this project closely, especially considering that a parallel accounting implementation project may be taking place within the same department.

Risk 4: HMC Over-estimates its competence in updating and customizing the system, leading to system problems, user frustration, etc.

Solution: HMC needs to work with CRMC to effectively gauge its competency level prior to taking on initiatives pre-maturely.

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