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Erik Fenna, the CIO of P&N Bank, the largest bank owned and managed in Western Australia had a track session at SugarCon this year that focused on how they have leveraged the Sugar platform to build a more inclusive view of the customer, as well as managed key points of the customer lifecycle.
When Erik started at P&N Bank, he had to make a decision to either continue to use Sugar and enhance it or go out to market with the business requirements and find something new.
P&N Bank did talk to other vendors (including Oracle) to get a sense for the CRM market. They felt that while Oracle’s product was very good, they felt that the product was not customized towards banking and financial and they would have had to spend a lot of time on customizations. The price point for Oracle exceeded what a small bank such a P&N was able to budget for a CRM.
Once P&N Bank decided to move forward with Sugar, the following steps were taken:
One important thing that P&N Bank wanted to bring into Sugar was Collections (noncash items) in the single view of the customer. Although this was not available in Sugar out of the box, the price to have an implementation partner (such as W-Systems) integrate this was very reasonable.
Out of the box, Sugar is oriented around sales targets instead of customers. P&N worked on modifying their Sugar instance with new data fields and relationship models so they could have banking accounts that were shared either within a business or family.
Banking Accounts added into Sugar included:
They also were able to address customers that were deceased that needed to be linked to the account executor. All of these types of relationships were not natively built into Sugar but were able to be integrated very quickly into P&N Bank’s Sugar instance.
Erik stated that “One of the most fantastic things that we have found working with SugarCRM is how quickly Sugar can be customized and deployed within the company.”
Erik discussed P&N Bank’s future vision and goals as they continue to integrate Sugar into their workflow including: