“NetSuite has contributed to an increase in revenue through greater efficiencies in marketing and the lead follow-up process. Plus on a personal note, it makes my job easier because reporting and searches are so simple to use in NetSuite.”
ING Financial Planning Case Study - NetSuite CRM - NetReturn
Download PDF of this Success Story
| At a glance | |
| Company: | ING Financial Planning (Division of RetireInvest) |
| Location: | Head Office Sydney, 2 Offices in Sydney and 2 in Melbourne |
| Industry: | Finance |
| Challenges: |
|
| Software switched from: | Excel |
| Results with NetSuite: |
|
The Challenge:
Increases in the retiring population and a greater awareness amongst Australians of the necessity to financially plan for the future, has seen ING Financial Planning’s business grow exponentially. In the last two and a half years the company has grown from just one office based in Sydney, to four offices spread across two states.
Keeping up with the increased demand for financial services and advice started to become an administrative nightmare for the staff at ING. Tracking inbound enquiries through their call centre was a manual process which included entering data into Excel spreadsheets and then calculating revenue from each lead/enquiry or campaign. This process created issues around the efficiency and accuracy of information being collected, and subsequently tracking leads from campaigns through to the financial planners was becoming logistically impossible.
Campaign and customer management also took up excessive amounts of times with data segmentation and mail merges taking upwards of three hours per day to complete.
Retire Invest realised that the back end processes they had in place were unsustainable at this rapid growth pace. The sheer volume of information needed to manage a growing business needed a more collaborative approach. They needed an organised system for tracking and sharing customer and business information which also provided reliable revenue measurement from campaign activities and leads. An investment in the right technology that provided a 360 degree view of the customer was required, and they decided to purchase a CRM solution.
The Solution:
After initial searches and comparisons with Salesforce.com, ING Financial Planning decided to purchase NetSuite as their company’s CRM solution and NetReturn as their solution provider. NetSuite offered all the functionality they required to resolve their business issues and NetReturn provided the complete localised support they needed to ensure a successful project outcome and ongoing assistance.
With multiple offices in several states, ING Financial Planning found selecting a web based on-demand CRM solution a natural choice. Staff from various locations were able to enter information into the one system and generate accurate performance reports for analysis in real time and were all on the same page. Other functionality which influenced the purchase decision included NetSuite’s ability to accurately track leads through to revenue, the ease and usability of the reports as well as searches, and the customisable dashboards.
The Results:
NetSuite has become an integral part of streamlined work processes in every department at ING Financial Planning. From lead generation via seminar registration and their call centre, through to accurately tracking the lead to conversion, and also the process for staff incentives, all aspects of NetSuite are utilised to the fullest.
All 40 staff members using NetSuite rely heavily on their role-based dashboards for snapshot views of tasks, calls, sales, follow-up and customised reports and searches. They also found that the system was very flexible and able to accommodate the new compliance requirements within the industry. Having this information available instantaneously for the financial planner while speaking with customers was an invaluable advantage.
Sharyn McDougall who works in the Marketing department, found great benefits from using NetSuite. “Thanks to NetSuite, we can record, update, track and report on all client interactions as they happen. Our financial planners have up-to-the-minute information about their clients which helps enhance the service we provide for them.”
ING Financial Planning had found themselves in a favourable growth mode however they were starting to see the effects of this growth in many ways through the more complex needs that had developed. The manual processes being used created doubt in accuracy and reliability as well as taking up time and resources. By implementing NetSuite, the business was able to have all their information in the one accessible system that enabled proper measurement of performance and confident decisions to be made.
Find out more: contact NetReturn at 1300 886 025 or 0800 543 371
