Evergreen Case

8/3/2019 Evergreen Case

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Does mobile and personal really

matter to business?

Agenda

Introduction to CRM Evergreen Investments

Then Now

Current market Key takeaways & discussion


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Introduction

CRM Customer Relationship Management

Methodologies and tools to help businesses in marketing,sales & service across multiple channels provide seamlessmarketing, sales & service to customers

Evergreen Investments: Background

Wachovia Corporations investment management business Premier asset management firm for institutional and individual

investors:

Mutual funds Institutional Portfolios Alternative Investments Separately managed accounts

Works in partnership with financial advisors


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Americas 25th largest asset management company and 32ndlargest investment manager in the world

Headquartered in Boston and Charlotte Entrusted with ~$250 billion in assets Over 350 investment professionals Over 3 million investors

Evergreen Investments: Background

Evergreen Investments: History

1932 Keystone creates oneof 1st mutual fund families1996 Evergreen and Keystone merge (become Evergreen Investments oneyear later)

2001 Wachovia merges with First Union (Evergreensumbrella company) and remains a subsidiary

2002 Evergreen acquires J.L. Kaplan Associates2006 Acquires majority interest in Metropolitan West Capital Management,LLC and launches Wachovia Global Asset Management

2007 Acquires majority interest in European Credit Management Limited

2009 Wachovia bought byWells Fargo, future uncertain


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Evergreen Investments: Recognition

Positive Press

Dalbar Mutual Fund ServiceAward for 8 consecutive years

Dalbar Financial IntermediaryService Quality Evaluation

Pre-Sale Award (last 4years)

Post-Sale Award (2 years) European Capital Management

won European Bond Managerof the year (2004-2006)

Negative Press

Involved in settlement withSEC regarding market timingand excessive exchangeactivity

Fined $32.5 million

Evergreen Investments CRM Past

Company-Supplied Laptops Gain access to CRM system Emails Calendaring (Lotus Notes) Expense Reporting and Commission Tracking

Mobile Phones Voice Calls


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Evergreen Investments CRM Past

Scheduling Client calls Face-to-Face, informal

Client Calls Actual sales pitch Discuss market topics Meet new faces Call back-up for data

Fridays Update/Enter any information in CRM Participate in Evergreen conference call Internal business (i.e. Expense reporting)

Legacy System Issues

Required too much time Dial Up Internet Multiple passwords Lengthy data entering process

Information unavailable when needed Laptops were unavailable during customer meetings Required the use of internal sales consultant

Required 1 day per week for CRM entry Unreliable data 46% of the licensed seats go unused. AMR Research Market

Analytix Report: Application Spending Series, The Enterprise Resource Planning SpendingReport, 20052006


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Mobile CRM Implementation

Onyx system implemented in 1999 Complaints began immediately

Management listened to complaints Wholesaler process review

Early 2001 initial Pyxis demo April 2004 contract signed with Pyxis Mobile CRM Development

Pyxis/RIM /CRM / Blackberry integration Focus group Test group

July 2004 Mobile CRM implemented

Its the best ofboth worlds. Itsthe collaborativeworld and thefinancial softwareworld broughttogether.

-Bill Gates

Mobile CRM Integration

Blackberryw/Pyxis Service

CRM*Customer Data*Product Data*Sales Data

RIMnetwork/Internet

CustomerDatabase

CorporateAnalytics


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Mobile CRM - Initial Screen

Blackberry main menuallows for easy access toeWholesaler (CRM)

Mobile CRM - CRM Main Menu

Clicking Track Wheelallows drill down into anysales number

Initial screens displayYTD, MTD, previous dayssales, or large orders

Enables more detaileddata, reports, customerinformation, and othertasks.


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Mobile CRM - Customer Detail

Detailed customer screensshow single customerinformation includingcontact details and salessummary

Drill down shows meetingnotes, follow upactivities, andassignments

Mobile CRM Results

Wholesaler & Management buy-in Required use by wholesale team Improved Design

Simple & Easy to use Allowed for wireless access to data System integration

Increased Productivity Eliminated the need for Fridays to be used for data entry Reduced dependency on internal sales consultant Reduced time inputting CRM data Immediate access to data and reports Improved data accuracy


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Mobile CRM Discussion

Why do you think the implementation was such asuccess?

What future improvements do you think are possible?

Mobile CRM in the marketplace Record growth

Software, networks, operatingsystems, wireless devices

Mobile CRM impact Increased user adoption rates Improved productivity Shortened customer response time Increased executive insight into

sales activities

Mobile CRM Current Market

Sources: destinationcrm.com; crmindustry.com

Microsoft CRM addresses manyof the problems of early CRMsolutions they were tooexpensive, difficult to integrateand poorly adopted. MicrosoftCRM provides great ROI. Its builtusing [Microsoft] .NET connectionsoftware for scalability andinteroperability and itsintegration with the MicrosoftOffice System dramatically

improves user adoption wevehad customers where useradoption exceeded 90 percent inthe first month.- Anthone Withers, Microsoft CRM

Solutions Director


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Your Experience?

Access to corporate systems off-site Ease of use Reliability Updated

Is working off-site feasible/valuable for your business? What elements would be necessary to get buy-in for

your organization?

Best Buy Example

Best Buy Results-Only Work Environment (ROWE) Judge performance on output instead of hours Not imposed from top down CultureRx subsidiary Results

Decreased voluntary turnover Increased productivity Increased employee engagement Reduced costs


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VL Systems Example

Microsoft CRM lets us track email exchanges withcustomers in the contact file, where we can retrievethem with a single click. We are capturing 60 percentmore information and communications than we used toand its making a huge difference in our understandingof opportunities and conducting business effectively.

- Lee Green, Vice President of Marketing, VL Systems

Final Thoughts

Do we need work offices? Does well-designed mobile + results-orientation = $$$ ?


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Summary & Key Takeaways

Implementation of CRM or mCRM must begin with goodbusiness process

Requires integration of people, processes, andtechnology + strong understanding of business logic

mCRM is changing the way we do business Bridges the last mile

DISCUSSION: So, what is the particular social media /virtual community angle to this case? Reflections on how interaction mode matters?

Evergreen Case

Documents

Transcript of Evergreen Case