Posted at 12.18.2018
The initial problem that Make Singleton was seeking to resolve is the execution of any CRM system to increase sales by boosting the number of contacts romantic relationship bankers were making and improving the tracking of the activities so the bank could find out more from them. Also Singleton wished a CRM system that places a great value on the person-to-person relationships between his marriage bankers and their customers and doesn't interfere with those relationships and diminishes the relationship bankers' rapport with customers.
In the problem-solving process which is especially valuable when we need to build new systems as a remedy to an issue or group of problems the business perceives it is facing. The problem in cases like this originated from the management realization that the business should take advantage of new opportunities to execute more effectively, nonetheless they didn't apply the four steps of problem fixing. In the problem-solving process to system building, we'd need to take the next four steps:
(1) Define and understand the problem.
(2) Develop alternate solutions.
(3) Pick the best solution.
(4) Implement the answer.
Citizens National Bank CEO Tag Singleton achieved the first step with a superb performance in defining and understanding the challenge for which they have to create a new system but he failed considerably in applying the rest of the steps required by the problem-solving process to build a new system. Mr. Singleton didn't devise, develop or try several substitute solutions before opting for a new CRM system to solve the challenge of newspaper and manual work and replace it with a new information system to automate a few of the bankers' tasks. Because he didn't develop alternative alternatives, he couldn't choose the best solution which resulted in a failed execution in the first solution.
What was the business case for applying a fresh system? What were some of the tangible benefits? What were some of the intangible benefits?
Organizationally, Citizens National Loan company of Texas is an exclusive, full-service standard bank with headquarters in Waxahachie, Texas, and 200 employees that has controlled independently since 1868. Citizens National Bank relies on personal, retail, and commercial customers and assists businesses and consumers in Ellis Region and other local counties, mostly in neighborhoods with populations of 25, 000 or less.
Citizen National bank or investment company operates intensely manual and depend on paper system where sometimes a salesperson that remaining Citizens National could take files of customer interaction with him or her, leaving the lender with no information to maintain the relationship. The paper system also created too much information for Singleton and his branch professionals to process effectively. So the old paper system cannot support the large number of clients and the annual grow at a rate of 12 percent.
A major part of Citizen National's strategy for continuing progress was to implement customer romance management (CRM) software. The CRM strategy targeted the bank's two main contact points with customers: the bank's call center and its sales team. The goals of a remedy for Citizens Country wide Bank is always to reduce the amount of time, effort, and problems in the tracking of activities made by relationship bankers and also to increase sales by nurturing the amount of contacts romance bankers were making and bettering the tracking of these activities so the bank could learn more from them.
Increased efficiency: Utilizing a CRM system will allow relationship bankers to boost their traffic monitoring activities with customers, which increase their productivity and give them capability to serve more customers.
Lower operational costs: using electronic records will considerably reduce papers used and bring about cost keeping.
Reduced workforce: this is will be the consequence of increasing bankers' production to provide more customers, which will considerably decrease the workforce required to manage the projected upsurge in sales.
Reduced rate of growth in expenses
Reduced center costs: scheduled to paper reduction, and workforce lowering.
Improved organizational planning and flexibility: because the newspaper system created too much information for Singleton and his branch professionals to process effectively. The CRM system gives them effective information to make effective decisions.
Improved decision making: having correct information under executives and managers control will drastically improve the decision making.
Improved functions: The CRM system will permit the bank to approve credit and loan applications quicker.
Improved asset usage and improved tool control.
More information available regularly.
Enhanced employee goodwill: because under the old paper system, a salesperson that remaining Citizens Country wide could take information of customer discussion with him or her, leaving the lender with no information to keep the relationship.
Increased job satisfaction among employees.
Higher client satisfaction: nothing at all will satisfy the customers more than obtaining a quick approvals and even transactions.
Better corporate and business image: this is will result automatically from an increase in job satisfaction among employees and a higher client satisfaction.
Why didn't the execution of the Siebel CRM solution work out for Citizens Country wide? What were the largest factors? How might you classify these factors in terms of corporation, technology, and people issues?
I believe the execution of the Siebel CRM solution didn't work out for Citizens Country wide because it had not been the best answer that applies or meets into the described problem; it didn't work out because it had not been due to a thorough selection that went through precise evaluation for multiple alternatives or solutions. The execution failed for many factors, I will classify these factors in terms of business, technology, and people issues
Organization: the approach of Citizens Country wide toward almost all business functions, from traffic monitoring customer brings about generating reports about them, was very basic. The Siebel software was simply too rich in features.
"Right away, Citizens National got trouble getting the software to match its rather straightforward, basic customer-lead monitoring and reporting needs. "With Siebel, we were spending way too much time turning off features that we didn't need, " Singleton explains. An example of features that didn't fit Residents National's business model was Siebel's capabilities for establishing customer support cases. Although some large corporations may choose to set up a support case with precise complaint-tracking and resolution functions, the tiny bank acquired no use for it. Service complaints which come in to Residents National are dealt with on the spot by its call center. For service questions that require a follow-up, such as a customer asking about the reordering of bank checks, the call-center rep schedules an activity by sending an e-mail to the worker who manages check purchases. " (Bartholomew, 2007)
People: Employees found the program to be too complicated. These were surprised to learn, for example, that the system did not automatically generate potential business opportunities for customers on their records. Furthermore, bankers weren't in a position to view multiple human relationships between a person and the lender on a single screen. The excess navigation was challenging and inefficient.
The romance bankers were the main element employees; the system was intended to be of value to them, and, subsequently, provide value to the bank. However, they found no motivation in the Siebel environment because their payment was based on sales, and sales possessed become harder to make.
Another concern was Siebel's complexity. Residents National's bankers found the machine difficult to navigate. For instance, the banking associates couldn't understand why an possibility to make a loan to a specific customer wasn't outlined under the customer's record. "You must assign that chance to that person, " explains Doug Furney, president and CEO of THE TINY Business Solution. "If you don't make those connections when entering the data, the chance won't appear under that customer's record. Not everyone easily grasped this idea. " (Bartholomew, 2007)
Furney says what sort of screens were organized in Siebel, Individuals' bankers were required to flip back and forth between the various screens to identify different relationships that customers possessed with the bank. "Understanding these connections in the system was really perplexing with their bankers, " he says.
As a result, the bank's top sales reps, who weren't eager to change just how they does their work to fit the needs of the program, found Siebel's learning curve too steep to negotiate. "Citizens National's 16 relationship bankers never got above the ease-of-use issues that Siebel provided, " Furney says. (Bartholomew, 2007)
Deloitte's Davis says that the Siebel implementation at Citizens Country wide may have indeed failed due to a insufficient buy-in from those likely to use it most-the relationship bankers. "In the event the people using the machine have no idea what's in it for these people and don't see the value of deploying it, then you won't work what sort of company expected, " Davis says. (Bartholomew, 2007)
Technology: Citizens Country wide experienced compatibility issues between your database forms in Siebel and those utilized by the bank's primary banking application, developed by Kirchman. As a result, the two systems experienced difficulty exchanging information properly. The bank was forced to invest a significant amount of time fixing such compatibility issues, which adversely impacted its ability to serve customers.
Citizens Country wide also had to deal with a raft of customization issues, often stemming from the dissimilarities between directories. Furney performed to assimilate Siebel with Individuals National's core bank application. The lender uses banking software from Kirchman, whose vertical systems are used by numerous small and medium-size lenders to process and keep track of customers' deposits, lending options and trust accounts. "Trying to get these two systems to talk was a problem, " he says. (Bartholomew, 2007)
One basic difference was what sort of core banking software setup its customer data areas. The Kirchman system didn't have individual areas for both customer's first and previous labels, choosing instead to add the full name in a single field. By contrast, in Siebel, the customer's first and previous name each possessed a data field. "That's the sort of thing we ran into when we attempted to marry data from both of these different systems, " Furney says. "This sort of integration takes time, and customers don't understand how enough time is necessary. " (Bartholomew, 2007)
Was QuickBase an improved solution for People Country wide? If so, why? What factors claim that the bank ended up with the right procedure and a good choice of product?
In my point of view, QuickBase was the best different solution that fits certain requirements of Citizens National Bank for a new IT system that is a simple to use, with the capacity of doing some traffic monitoring activities, and store the interactions between romance bankers and their customers and doesn't interfere with those relationships and diminish the partnership bankers' rapport with customers.
QuickBase was made for organizing, monitoring, and showing information among team members at work while encouraging progress by notifying employees via programmed e-mails of up to date files, new activity assignments, and approaching deadlines. Because QuickBase was not programmed as a specific business request, businesses could enhance its database framework to meet specific business functions.
One reason some small and medium-size companies, as well as groupings within bigger ones, are implementing QuickBase is its flexibility. Intended not simply for customer management, QuickBase-which is actually more of an easily altered database than a full-fledged business application-can be harnessed for other business jobs. For instance, Procter & Gamble uses the machine to monitor technology tasks. Because you can use, runs online via any internet browser and doesn't require an I. T. professional to create, the hosted software is finding its way into a myriad of businesses. (Bartholomew, 2007)
There are numerous factors claim that the bank were left with the right approach and a good choice of product, some of these factors are:
The Citizens National staffs could actually make changes to QuickBase themselves, so the costs of possession and maintenance fees were lower.
QuickBase offered Individuals National flexibility it did not have previously. Because the system was Web-based, the relationship bankers could actually use it anywhere that that they had usage of a browser.
Relationship bankers and management received daily modified access to all interactions and transactions, enabling them to monitor business in a way that was never possible recently.
For the very first time, Citizens National could completely keep track of sales opportunities and, as Singleton said, "where we lost business, so we realize where we have to make those extra 10 or 15 sales phone calls. "
Also central to the success of QuickBase at Citizens National was Furney's capacity to integrate the system with the Kirchman core banking application. Furney configured QuickBase to publish new username and passwords to the key system every night via an XML interface.
For example, a banking representative can select a commercial customer's data file and immediate see all the connections which have been made with that customer by loan company staff, any actions that were taken on the customer's behalf, and the end result. Citizens National standard bank representatives put it to use to check on customers to see if there has been a follow-up call to a contact, whether a voice-mail message was remaining with the client, who the salesperson was and the position of the contact. "It's been a great tool for us to keep an eye on our customers, " Singleton contributes. (Bartholomew, 2007)
5. Based on this research study, what kind of organization do you think would reap the benefits of using the Siebel CRM offer? Give a good example of such an firm and justify your decision. You may use the net to research your answer, including Oracle's Site.
6. Could Citizens National have made an improved choice of software because of its CRM system the first time around? Make clear your answer.