Development of CRM System Specifications for Bank Petrocommerce

Project Tasks

Under conditions where attracting each new customer is considerably more expensive than retaining an existing one, information on customers, their preferences, and patterns of activity is a valuable commodity. Bank Petrocommerce made the decision to launch the Customer Relationship Management Improvement Project and recruited an outside contractor to develop terms of reference for the implementation project.

The main factors contributing to the initiation of the CRM project at Bank Petrocommerce were growth of target client segments, the need to develop sales channels for banking products, broadening of the product package being offered, and problems of standardizing procedures for preparing banking products and distributing them through the branch network.

Project Implementation

On the results of a tender held by the bank, the AT Consulting group was selected as the contractor to develop requirements for the future CRM system. The project was launched in August 2005.

Results Achieved

During the closed cycle of terms of reference development, requirements for the bank’s divisions relating to the development and sale of banking products, corporate and retail client service, the conditions for promoting products through the bank’s distribution system, and the requirements for analyzing the profitability of client segments and analyzing cross-selling sales were formalized.