Check out The Most Innovative, Highly rated Contact Center World Events EVER!
...Thousands of past delegates agree! - BOOK YOUR PLACE TODAY!
Best Contact Centers in the World 2017
all award winners!STARTS IN:
News : Maybank Implements Microsoft Dynamics CRM
June 9, 2014 -- A Southeast Asian bank has completely digitised previously paper intensive processes with Microsoft’s customer relationship management solution
Malayan Banking Berhad (Maybank) processed contracts manually using different processes in each of its multinational locations, which made consolidated reporting extremely difficult. They needed an automated solution that their personnel would readily adopt and that would provide faster processing, thus improving cash flow. They also needed much easier reporting for analyses, improving their ability to negotiate new contracts, mitigate risk, assure compliance, enhance bargaining leverage, improve employee productivity, increase customer satisfaction and possibly extend the supplier relationship in order to create new business opportunities and value for both the bank and its suppliers.
With employees handling contracts in offices for customers in 20 countries, manual contract processing was becoming all but impossible for Maybank. Every department in each location in every region had their own processes for keeping and tracking contracts, meaning each inquiry required time-consuming, manual intervention. The likelihood of losing paper-based contracts was very high. According to Herbert Poh Cher Hian, head of Maybank’s Group Finance Strategy & Systems, "This exposed the bank to reputation risk, legal risk, losses that would otherwise have been avoidable and a significant loss of bargaining power that would have been available with better control over our information."
Physical copies of contracts were being passed around. Filing was inconsistent and some were eventually lost entirely. Without the correct tools in place, it was difficult to have any control over the entire contract management process. There was also no possible way of establishing an effective disaster recovery strategy. This motivated Maybank to seek a solution that would streamline and align processes across the entire Maybank Group.
Maybank’s chief information officer, Tan Kok Meng, adds: "The team achieved much greater economies of scale by establishing one standard solution across all markets served by Maybank. This will deliver greater value to our stakeholders and customers on a continuing basis."
The desired solution would provide comprehensive automation of contract processing and management workflow. Contracts would be initiated on the system, changes tracked, service level agreements (SLAs) established and enforced. Anyone delaying the completion of a contract would be readily identified and contacted. Maybank would be able to actively and aggressively track contract expiration and identify vendors with whom the bank had the most significant relationships. Digitisation of all contracts would ensure no loss of information and would ensure an effective disaster recovery and continuation of business strategy.
Since their time-to-value window was very narrow, Maybank required a solution that was quick to deploy, easy to customise and readily interfaced to existing back-end systems. It also needed a familiar and comfortable interface that users would readily adopt and use. "We needed to establish a consistent operation across multiple regions to enable a strong level of collaboration," says Poh Cher Hian.
After evaluating several platform solutions, Maybank determined that Microsoft Dynamics CRM’s Extended CRM with the xRM Framework would be the ideal environment in which to build its solution. Microsoft Dynamics CRM was chosen
Maybank engaged Microsoft Gold Competency Partner, Asterisk Business Systems, to help deploy and customise the software to create their contracts management solution. "The deployment time for the contract management tool (CMT) solution was under six months," says Rosley Abd Aziz, assistant vice president of Group Finance Strategy & Systems.
Microsoft Dynamics CRM provided the core database functionality required to track vendors and customers entering into procurement and property contracts with Maybank. Asterisk interfaced Microsoft SharePoint to provide a repository for the actual contract documents using Microsoft SQL Server as the back-end database to assure scalability and speed.
Posted by Veronica Silva Cusi, news correspondent
Today's Tip of the Day - Tools, Providers, Culture
More Editorial From Microsoft
At Microsoft, we're motivated and inspired every day by how our customers use our software to find creative solutions to business problems, develop breakthrough ideas, and stay connected to what's most important to them. We are committed long term to the mission of helping our customers realize their full potential. Just as we constantly update and improve our products, we want to continually evolve our company to be in the best position to accelerate new technologies as they emerge and to better serve our customers.
Published: Wednesday, June 11, 2014