PRESENTED BY:Ghanshyam Khatik (A-25)Rahul Lalchandani (A-30)

Saksham Saharia (A-46)Anusha Desai (B-06)

Dhwani Marfatia (B-19)Vishw Parekh (B-31)

Karishma Vijay (B-42)

CUSTOMER RELATIONSHIP MANAGEMENT AT YES

BANK- YCCRM

Established in 2004 with financial support from Robobank Netherlands.

Employees : 6,000

Locations : 60

IT Staff: 65

It is a high quality, customer centric, service driven, private Indian Bank catering to the “Future Industries of India”.

YES BANK will continue to declare it's Promise through consistent communication activities under the Brand Slogans "Experience our Expertise" and "YES for YOU".

Provides knowledge banking services such as Corporate Finance, Business Banking, Retail Banking, Investment Banking, Financial Services, and Transaction Banking.

Was awarded the “Most Innovative Bank in India” at the New Economy First Annual Banking and Finance Awards 2008 held in London.

Was announced in the December 2008 issue of the International Magazine, New Economy. YES BANK is the only Indian Bank to have won this award.

Money Plant – characterized by growth, long term partnership, send around 3,50,000 money plants every year across India.

Managed customer relations via excel sheets but they regretted for that because it was only one way information sharing system.

Was extensively used by bank’s staff for up-selling and cross selling, lacked interactive features like capturing feedback from the customer.

Suvanjay Kumar Sharma, VP (Corporate Strategy) & chief enterprise architect felt that with its expanding business and growing customer base, YES Bank should efficiently manage its customer relationships and service its customers better. It should have customer feedback at every step and system should be flexible and should have the scalability to follow the business.

Thus the concept of YCCRM (Yes Bank Collaborative CRM) was born.

They wanted to make it collaborative by making the customer part of the system. They were keen on empowering the customer to share his ideas and feedback.

YCCRM was helpful for employees, product and sales team to analyze the information collected and figure out business opportunities. Thus helpful to customize existing products or conceive new products altogether.

Integrated and personalized dash boards

New system was helpful in Integration of mobiles and CRM, it helped in calculating the turnaround time of serving a client.

PROBLEM FACED BEFORE IMPLEMENTION

Instances of lost sales leads, or multi-interfaces to the same lead and re-assignment of leads.

Problems in tracking the older leads as there were multiple registrations and entry for tracking them.

There was huge data loss due to which the employees failed to retain and provide various schemes and benefits to the existing customers.

The existing processes and tools didn’t aid employee collaboration. Information was lying in islands, without being shared across, was of no use at all.

It wanted to adopt business automation to improve sales turnaround time (from Lead to Customers), reduce manual data entry and increase speed of the process.

The Customer Care department required an efficient Help Desk Management System where the calls and complaints could be logged in and automatically assigned to relevant employee for resolution with automated escalations.

PROBLEM FACED DURING IMPLEMENTION

It took 6-8 months to implement CRM at the main branch office.

It was very costly as YES Bank wanted to have In house CRM.

It was very difficult to implement it across all the branches of YES Bank and integrate them. They faced technical issues in implementation but they reported the problem to Red Hat and hence problem was solved.

Moreover employees also faced challenges in learning the new change in the working system.

CURRENT PROBLEMS FACED

Problems in Live Chat

Problems in various means to address the customer grievances: Electronic channels (revert back in 7 days) Personal visit to bank officials (7th of each month between 3pm to

5pm) Escalation Mechanism

Complete analysis report is obtained

The task of designing an open CRM software was given to Info Axon Technologies.

Info Axon recognized that an off-the-shelf CRM solution could not fit YES Bank’s business model which was demand-based and hence very fluid.

YES Bank required was open standards based, flexible, scalable, and Framework-based CRM solution which could be easily changed and adapted with the bank’s business needs.

Info Axon decided to go ahead with a Java J2EE based Open Source CRM framework.

Info Axon consultants leveraged its Continuous Integration Methodology to create an Integrated Open Source CRM Stack for YES Bank.

The Integrated CRM Stack is a single deployable stack which provided open source CRM application integrated with infrastructure components (Redhat Linux, JBoss, PostgreSQL, Apache) to deliver cost effective, flexible, and extensible open source CRM solution stack.

After successful implementation of CRM, YES bank got 10 lakh leads and around 5 lakh service requests per year. Customer service has improved by 60% and turn around time for its processes by almost 70%.

This helped achieve greater service excellence, capturing all customer queries, complaints and their feedback into the common system.

The collaborative CRM has given a new window of social value based relationship which is key for future cross-selling.

CRM SOFTWARE

The CRM Stack delivered all CRM dependencies on a single stack with turnkey install and flexible multitier configurations.

The CRM stack was tested, performance tuned and deployed in YES Bank Data Center.

The deployment consists of Staging and Production areas on virtualized Redhat OS Server.

The Open Source CRM stack covered all the processes right from customer acquisition through to customer servicing.

It included following CRM modules:

Sales and Leads Management

Personalized Dashboards with Activities Planner

Help Desk

Marketing Management

Document Management

HOW IT WORKS?

Drastic Improvement in customer acquisition. As per recent information there is servicing of 1 million leads and around half-a-million service requests per year.

Customer Service improved by 60% and turnaround time for its processes by almost 70%.

Helped achieve greater service excellence, capturing all customer queries, complaints and their feedback into the common system.

It helped the Bank understand its customer better which resulted in better customer retention. Cross-selling of products substantially surged after the implementation.

The centralized repository of reports generated numerous benefits for the bank. Data loss was prevented.

Also it allowed the bank to analyze data and take proactive actions to improve customer experience and products.

OTHER BENEFITS Data loss is prevented

Reports can be extracted and analyzed from the data collected

Trends can be known

Proactive action to improve the customer

Experience and products

Geography wise Customer segmentation

YES Bank is getting benefitted by the open source nature of the CRM Stack in various forms such as much lower TCO, flexible, scalable, and open architecture.

YES Bank has plans to integrate various enterprise applications with the stack and taking the solution online to bank’s end customers.

Cover non metro branches

Take YCCRM online where customers can directly be part of the system, send feedbacks and use blog to interact

Q1: WHAT PROBLEMS DID YES BANK FACE INITIALLY WHILE MANAGING CUSTOMER RELATIONS?

Managed customer relations via Excel sheets

One-way information sharing system

Restricted data flow from the customer to the company

Had instances when they lost sales leads, or multi-interfaces to the same lead and re-assignment of leads

Not able to track older leads because there were multiple registrations and entry for tracking them

Q2: HOW DID THE BANK’S MANAGEMENT WANTED THE CRM SOLUTION TO BE? WHY?

CRM Solution should be:

– Flexible

– Scalable

– Small Frame-work based Model

– Open Source

Reasons:

– Retail business model was demand based and hence fluid.

– Business needs would change

– Evolving organization

– Customer feedback at every step.

Q3: WHAT IS COLLABORATIVE CRM? DISCUSS HOW YES BANK USED COLLABORATIVE CRM?

Definition:

Collaborative CRM is an approach to customer relationship management in which the various departments of a company, such as sales, technical support, and marketing, share any information they collect from interactions with customers.

How they used collaborative CRM :

Collaborative system can help to customize Existing products and conceive new products.

Mapped to blog-like entries made by employees

These entries include ideas, suggestions, and perceptions of the sales representatives

Template where they can fill details (other than the standard keywords) noted during their interaction with the customers

Personalize dashboards.

Information is directly uploaded to main CRM System

Sales reps can now upload or download scribbled information from their phones to the main CRM system

Social value based relationship management can be done.

Social value based relationship management component will help cater to the changed needs of the customers.

Source and system date has helped calculate the turnaround time of serving a client.

Provides an additional tab of source date (the date mentioned as the source date when they meet the customer and the system date when it is registered in the system).

Adding the source and system date has helped calculate the turnaround time of serving a client.

Search Box

– On the dashboard, a small search box allows the bank staff to do an internal as well as a Web search on their customers.

– The system has to be agile and ideas have to come from the users.

– This also allowed them to add features according to their requirements.

Q4: WHAT WERE THE IMPROVEMENTS AFTER CRM SYSTEM WAS IMPLEMENTED? Customer acquisition was improved

– servicing of 10 lakh leads and around 5 lakh service requests per year

Customer service has improved by 60 percent and turnaround time for its processes by almost 70 percent.

System helped achieve greater service excellence

Cross-selling of products has substantially surged after the implementation

– given a new window of social value based relationship which is the key for future cross-selling.

Centralized repository for reports generated numerous benefits for the organization

– First, data loss is prevented

– Second, data can be extracted and analyzed, which helps in understanding the business better

Allows them to observe trends and take proactive action to improve the customer experience and products

Customer segmentation can also be done.

BIBILOGRAPHY:

• http://www.yesbank.in/

• http://www.infoaxon.com/documents/InfoAxon_Case_Study_YesBank_Issue.pdf