ABC Bank is a regional rural bank based in TELANGANA set up in the year 2004. It has been offering banking facilities all across India with special focus on the most backward region of the state. The bank is headquartered at Kadapa and this financial year, it extended its area of operation to 5 new districts of TELANGANA.
In 2012, this rural sector player was conferred with the 'best bank' award. As of March 2014, the bank has 300 branches spread across the country with an overall employee strength of around 1500. The customer base has grown to an impressive 10 lakh in the past fiscal, registering 25% growth.
The financial sector player soon understood the importance of sales CRM solution that could help them manage their growing client base.
The bank complained of spending numerous man-hours of intensive training along with following the paper-based backup approach in its routine activities. As the bank follows long sales cycle, an efficient system was the need of the hour that was able to manage the different opportunities and leads/contacts.
Some of the hey problem areas for ABC bank have been mentioned below -
Sales and growth prospects hit by the absence of a calendar and note taking capability despite the presence of core processing platform
Sales reps were unable to access a comprehensive view of the customer details and information.
Replacement of paper-backed processes to increase productivity by 10%.
Offering low cost options for customization.
Improving ROI time on leads and lowering of response time.
Quick consolidation of database along with lowering of time on data-entry processes.
Increasing organizational efficiency and sales of collateral services.
Quick and easy integration with the bank website.
Automate logging and tracking.
Bringing improvement in efficiency rate of sales team.
Abc Bank's IT team considered various other CRM solutions such as Vtiger, Sugar CRM, Microsoft Dynamics, but the team chose sales CRM [Lead]Prime for its easy use , flexibility and also the ability to offer cost effective options for customization at the same time. The bank moved to [Lead]Prime after an installation that took less than two days. Some
Dramatic jump in contact rate by 90% along with closing rate.
Registering 20% rise in sales of collateral services.
Lowering of request processing time by nearly 70%.
Decline in back office tasks from half hour to 8 minutes.
90% rise in email marketing volume.
Now, sales rep were able to make a contact with 70% of their leads within 15 minutes and about 50% within 5 minutes.
Rise in client base by 50-55%.
Jump in accountability within the sales team.
Significant rise in ROI from leads after using sales CRM [Lead]Prime.
Approximately 35% rise in sales revenue.
Rise in client profitability by about 25%.
Sales CRM [Lead]Prime had assessed the situation along with closely following the regular activities of Abc Bank's sales process. The [Lead]Prime team had worked to develop a customized marketing solution that was able to meet all its requirements. Abc Bank selected [Lead]Prime for its capability to offer an affordable web based CRM solution that was able to support selling processes. [Lead]Prime has helped Abc Bank's relationship managers strengthen their selling potential. Moreover, it also helped Abc Bank to capture and disburse leads and deliver fast, effective service. It also offered a unified foundation for the sales processes that proved helpful in surging the cross and up-sell opportunities.
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