!atisfaction Published: A"ri# $%&$ Based in 'ndia( HDFC Bank is the #argest "rivate universa# )ank )* arket ca"ita#i+ation( ,ith ore than $- i##ion custoers( an e.tensive distri)ution net,ork of $-// )ranches s"read across &011 cities and ore than --(%%% e"#o*ees2 3o aintain its #eadershi"( HDFC Bank used CRMne.t to esta)#ish a sing#e "#atfor for e.ecution of its strateg* across "roducts( de"artents and channe#s2 3he resu#t( over F4$%%56$%&&( )ank7s net "rofit has gro,n fro U!D 0&5 i##ion to U!D &%00 i##ion at a consistent rate of 0%8 9uarter 6on69uarter for the #ast 0 *ears2 During this "eriod the )anks custoer )ase has gro,n )* &&08( ,hi#e the #o*a#t* inde. has gro,n fro 05 to :$ as o""osed to industr* average of -/2 Critica# !uccess Factors HDFC Bank )e#ieves severa# ste"s together #ed to its "rogra success( inc#uding; Top management vision and support Implementation methodology Respecting technology complexities Ownership experience Selecting the right Partners 1 Understanding < counicating the vision of the "rogra c#ear#* 2 Driving it as a transforation rather than a techno#og* "ro=ect 3 >nsuring ade9uate resource a##ocation in ter of tie and one* 4 De#ivering 9uick ,ins to aintain the enthusias 5 Creating a 0 *ear roada" to achieve the fu## "otentia# of the vision 6 Creating an interna# CRM e.ce##ence tea 7 >nsuring ade9uate u#ti6 ,ave iterations for "rocess unification 8 3aking 9uick decision during de"artenta# conf#icts 9 Understanding that user ado"tion is driven )* va#ue < not techno#og* 10 Creating re#ia)#e integrations )ecause the* ust tested da*6on6da* 11 >nsuring right strategies to ,ork ,ith ?OB s*ste that are not o"en 12 Understanding sca#a)i#it* re9uireents is ke* to decision aking 13 Understanding the i"act of re"orts and iso#ating the ,ork #oad 14 3raining "roduction teas to o,n such a high i"act CRM 15 >nsuring user training are "art of the HR induction "rogra 16 >nsu ring ade9uate user feed)ack and i"rove ent c*c#es 17 U sing strong "roduction change anageent "ractices to de#iver a#,a*s on avai#a)i#it* 18 Understanding that such transforation need "ractice s"ecia#ists 19 !e#ecting a "artner ,ho can add va#ue to the vision 20 ?istening to the "artner es"ecia##* ,hen the advise is counter intuitive The Opportunity 3o retain co"etitive advantage( HDFC Bank rea#i+ed that in toda*@s environent on#* un"ara##e# custoer e."erience cou#d "rovide a sustained edge uch needed to aintain its gro,th rate in s"ite of increasing )a#ance sheet si+e2 Un#ike other )anks( HDFC Bank did not ,ant to )u* gro,th at the e."ense of its "rofita)i#it*2 3he )ank 9uick#* rea#i+ed that the ans,er ,as a t,o "rong strateg* 1 Raising the )ar for its interna# "rocesses Aa#though the )ank ,ere a#read* out"erforing the industr*B to "reserve "rofita)i#it*2 2 >nsuring consistenc* of inforation and actions across channe#s to create an unatched custoer e."erience 6 gaining trust and #o*a#t* to sustain the gro,th tra=ector*2 The Challenge Des"ite the c#arit* in strateg*( e.ecution ,as an o)vious cha##enge2 !uch a radica# strateg* ,as first of its kind and faced treendous risk due to inherent co"#e.it* and techno#ogica# cha##enges( considering; 1 3he transforation had to ha""en across a geogra"hica##* distri)uted tea( ,ithout ha"ering )usiness and at a "ace that ke"t it re#evant2 2 !trea#ining de#iveries( kee"ing in ind the readiness and the ground rea#ities2 3 ?everaging the data ,arehouse to )ui#d inte##igence on custoers and de"#o*ing this inforation at various touch "oints to he#" a.ii+e custoer #ife c*c#e va#ue2 4 !ca#a)i#it* of the s*ste given the #arge data vo#ues( --(%%%C user )ase( ,orkf#o, co"#e.ities( integration( s*nchroni+ation and increenta# u"dates2 High '"act i"roveent areas Customer 3! ! view Sales process re"engineering Customer experience management 1 C reatin g one vie, of custo er re#ati onshi "s( intera ctions ( and "rodu ctDser vice offering ,ith unified ,orkf#o, for a## sa#es < service interactions2 2 Custoer intiac*; Ehat do the* )u*F Ehat do the* needF Ho, do the* )ehaveF 3 Manage end6to6end sa#es "rocess across de"artents for a## "roducts on a sing#e "#atfor2 4 >nsure unification i"roves 3A3 )acked )* esca#ations at different stages of the "rocess( irres"ective of action ha""ening in CRM or ?OB s*stes2 5 >na)#e service and action guarantee across channe#s2 6 > nforc e custo er court esies( e"o,er re#ationshi" anagers ,ith re9uisite inforation( define contact strategies )ased on custoer segent )ands2 #$$ective cross" Use CRM to enha nce cross se##( u"6 se## ca"a)i#ities selling capability across a## custoer touch "oints2 %pproach As one of the to" '3 s"enders( HDFC Bank has dee" re#ationshi"s ,ith a## ke* techno#og* "artners2 A,are of ground rea#ities( the )ank focused on three ke* "araeter to e.ecute a vision that had no "ara##e# 1 An u#tra6sca#a)#e "roduct ,ith an architecture ca"a)#e of anaging over --(%%% users serving over $- i##ion custoers2 2 'ntegration ca"a)i#ities that are re#ia)#e and ca"a)#e of anaging co"#e. < diverse scenarios ,hi#e retaining tracea)i#it*2 3 An i"#eentation "artner 6 a fir )e#iever in "ractice #eadershi" ,ith e.tensive )anking doain kno,#edge and ca"a)i#it* to e.ecute the vision2 CRMne.t@s !o#utions Customer 3! ! view Integrated sales plat$orm Customer experience management #$$ective cross"selling capability 1 C reatin g a unifie d custo er vie, )* co##ati ng and ass aging data fro vario us sourc es inc#ud ing the data ,are house 2 2 C ontro ##ing custo er infor atio n )ase d on the ro#e of users2 3 >na)#ing access to sing#e vie, across various channe#s #ike )ranch( "hone )anking( etc2 4 Mu#ti6,ave "rocess ,orkouts to ensure unification and conso#idation of a## unstructured "rocesses Arun on e.ce#B and sei autoated "rocesses2 5 Phasing out : a""#ications #ike #ead tracking s*ste( custoer contact anageent( etc2 6 'ntegrating ,ith G core and origin s*stes to "rovide end6to6end status visi)i#it*2 7 Process 3A3 guaranteed )* a#erts and u#ti6stage esca#ations across de"artents and channe#s2 8 Using o)i#e < t,o ,a* !M! ca"a)i#ities to create #eads( u"date status( re9uest for custoer offers( etc2 9 >na)#ing i"roved re#ationshi" anageent )* creating virtua# "ortfo#ios and accounta)i#it*2 10 >nsuring inforation avai#a)i#it* at a## custoer touch "oints to )oost the 9ua#it* of interactions2 11 >na)#ing s*ste driven contact strategies )ased on custoer )ands to ensure a#igned actions2 12 Focus on roada" to esta)#ish CRMne.t as a sing#e destination for a## needs 2 13 3 he "#atfo r o"era tes acros s a## chan ne#s( "roviding g#o)a# visi)i#it* and status of offers2 14 Various s*stes integrated to "rovide event )ased triggering such as #arge de"osits( channe# usage( etc2 15 Marketing tea continuous#* generates cross6se## offers and ne.t )est "roducts to )e so#d2 Results !ince the so#ution ,ent #ive in $%%1( HDFC Bank has tru#* )eing a)#e to rea#i+e its vision and aintained the sae gro,th rate in s"ite of over $%%8 increase in )a#ance sheet si+e2 3oda*( CRMne.t is seen as a star investent and a ission critica# a""#ication that the )ank de"ends on( here is ,h* High '"act 3ransforation Sales process re"engineering Customer experience management #$$ective cross"selling capability 1 C usto er )ase as on Dec7$ %&$ has ,itne ssed a ,ho" "ing =u" of &&0 82 2 A ssets )usin ess gre, )* &%% 8 over $%%5 #eve#s 2 3her e has )een an incre ase in the #eads )eing enter ed "er ont h in Mar6$%%5 to in Hov $%&& )* &::82 3 Drastic reduction in 3A3 for a=or retai# #ia)i#it* and retai# asset "roducts2 4 0$8 increase in ?ead Conversion fro F4 $%%16&% to F4 $%&%6 &&2 5 Iua#it* of docuentation has i"roved fro :%8 F3R AFirst 3ie RightB to 1G8 in Hove)er $%&&2 6 3he )ank7s #o*a#t* inde. rose fro 05 in $%%G to :$ in $%&% A)encharked at -/ for the industr*B2Phasing out : a""#ications #ike #ead tracking s*ste( custoer contact anageent( etc2 7 Hu)er of custoer co"#aints "er &%k custoers "er onth fro $%%G6%5 to !e"te)er7&& reduced )* 5:8 8 Average reso#ution 3A3 of co"#aints is #ess than 0 da*s ,hich is one of the )est in the industr*2 9 !ervice Iua#it* Rating i"roved fro :-8 in $%%G6%5 to 1G8 in $%&&2 10 Average 3ota# cross se## done in a onth increased significant#*2 11 Hu)er of "ersona#i+ed offers surfa ced on onth#* )asis increased significant#* fro Mar $%%&6 Hov $%&&