Finance and Insurance Case Study
Background
This client is a sizeable bank as well as a large general insurance group, with assets of over $54
billion. There are 4.3 million customers, over 8,700 staff across 229 retail and business banking
outlets with 34 Insurance agencies. This organisation comprises 12 companies with branding
across a range of financial products and services in banking, insurance, wealth management and
advice on financial services.
Increased geographic, customer and product diversity and a thriving customer base dramatically augmented this banking and insurance organization’s marketing breadth and volume of activity. They required an enterprise-wide marketing solution that would provide them with greater control, visibility and strategic alignment across all their marketing efforts.
Infor Orbis was chosen as their solution partner.
Challenges
With no collaborative tool for managing marketing activities and for sharing knowledge across the organization the following challenges developed:
- Lack of visibility into planned media and events across the business areas leading to clashing campaigns, inefficient shared resource utilization and inconsistent messaging
to customers and market. - The business areas determined individual marketing priorities and managed marketing activities in isolation and ignorance, hindering brand strength in the market.
- Inability to establish a shared marketing calendar, as it was too time-consuming to gather information from disparate sources. The end result – out of date, unreliable
information with no ability eff ectively communicate back to the key business stakeholders. - Multiple processes and practices across business areas led to campaign clashes, inconsistent marketing messages and overall “Market Clutter”.
- Non-systemized budget management processes caused erroneous marketing spend and an inability to deliver return on marketing investment or of a marketing activity’s
eff ectiveness. - Up to 20% of annual administration time alone expended on managing approvalprocesses and knowledge retention.
- Limited collaboration, knowledge share, visibility or access to relevant information across all marketing activity.
Solution
This banking and insurance organisation implemented Infor Orbis MRM™ to drive automation of marketing planning management, and embedding key processes to ensure best practices and greater collaboration between marketing stakeholders. Infor Orbis MRM’s online centralised tools including calendar and reporting provide high level visibility and clarity allowing this organization to plan, track and manage marketing activity across all groups.
Benefits
The marketing teams are given valuable tools such as WIP reports and online file repository. This gives value to each team, and in turn ensures the shared system is used effectively.
- They now have visibility across all marketing plans and execute with greater visibility, agility and control.
- Instant insight on current and planned activities through the Marketing Calendar facilitating improved communications and collaboration across marketing teams.
- Detailed marketing budget management across multiple teams and strategic information for management.
Results
- Planning is done consistently and on time, ensuring alignment of activities and corporate goals. This provides a competitive advantage by aligning brand messages, optimizing marketing mix, and effectively managing budgets.
- Corporate marketing planning and execution strategically aligned with the organization’s goals.
- Over 50% reduction in time for contribution to and collation of calendar information, across more than 30 marketing staff .
- Reduction of 80-100% in campaign clashes.
- Better understanding of marketing eff ectiveness and tighter financial control with less over or under spend issues, resulting in savings of millions of dollars.
- Flexibility to move rapidly with the marketplace achieving a competitive advantage.
