InDemand Infotech: Consolidating CRM Solution with Essentials of Enterprise systems
Today many organizations manage their internal operations by office automation tools and tally in case of SMEs, and Core Banking System in case of Co-Op banks.
SMEs due to their size of operations, budgetary constraints cannot afford to have multiple systems but there is a definite need to drive more business in this competitive environment.
On the other hand, Co-Op banks have serious threat from Large Private banks making inroads into rural areas. Hence they have to step up and adopt technology to automate customer facing process to attract and retain customers.
Hence, SMEs are looking for a solution which offers a combination of Enterprise system and CRM as one application with customizable features while Co-Op Banks are looking for a CRM application that integrates seamlessly with any CBS, most importantly at an affordable TCO.
Chennai based InDemand Infotech’s CRM product offers end to end Sales Force Automation, Marketing Automation and Service Management solutions in two flavours - One for SME and other for Co-Op Banking segment.
“Our product has rich CRM functionalities blended with essentials of Enterprise systems to address the needs of SME segment and integrates seamlessly with Tally. This package combination is unique in nature and perfectly fits the needs of customers in terms of requirement and budget to achieve enterprise wide process automation,” explains PB Narasimhan (PBN), Founder & CEO, InDemand Infotech.
On the other hand to address the requirement of Co-Op banking sector, InDemand’s CRM product integrates with existing CBS and facilitates Marketing, Sales & Service Management. It has a full-fledged Loan Processing module which provides an electronic platform making it paperless right from Enquiry data capturing till Loan disbursement.
Comprehensive CRM tool for Automating Pre and Post Sales Activities
Effective usage of marketing module generates quality leads through targeted campaigns. Sales module automates key processes such as Opportunity assessment, Document processing, follow up scheduling to convert leads to customers. Service module handles customer grievances and helps in customer retention. System is designed in such a way that the processes are automatically assigned based on business scenarios and bound by SLAs, this brings in organization-wide discipline for customer facing activities.
Moreover, CRM is not complete without Loyalty module which is a vital tool for Customer retention. Many CRMs just concentrate only on Sales Management, but InDemand is a step ahead by providing Loyalty Management module which can be integrated with its CRM product.
The company considers Social media as another channel to engage with prospects and tap potential business opportunities. It has developed iSocial+ product which is integrated with iCRM+ to collaborate the power of social media into the business.
“Our iCRM+ solution is built on a robust technology platform which can be offered both On-Premise and On-Cloud which gives customer the option to choose based on their investment capabilities,” points out P.B.Narasimhan.
The Real 360
Customer 360 is one of the key feature of InDemand’s CRM. Most of the CRM systems offer Customer 360 Degree view, but it’s just a report. iCRM+ has the real Customer 360. A bank manager can have a holistic view of his customer in one screen where he can see the customers savings account balance and last five transactions, Fixed deposits, Recurring deposits, Loans if any, the last five payments and Card he holds.
In the case of SMEs the Proprietor/Partner/Director can have a holistic view of the organization in one screen where he can see QoQ sales and Product wise/Sales Person wise sale, Pending Payments from Customers, Pending Payments to Vendors, Inventory Position.
Since SMEs and all types of Coop Banks are the backbone for our country’s growth in coming years and they have understood the importance of IT and in particular reaching out to the end customers, acquiring them and retaining them, CRM is the only application that can fulfil their growth in terms of reach, retention, reward and revenue. It aligns with InDemand’s plans since its focus industry is Coop Banks and SME sectors where it sees growth trajectory in Banking Sector having a wallet share of approximately USD 1 billion with a growth rate of 8 - 10% YOY and SMEs having a wallet share of USD 4 to 5 billion with a growth rate of 10 - 12% YOY.
Narasimhan further explains that although many Co-Operative banks in India have streamlined their Business transactions with Core Banking Solutions, CRM adoption is likely to grow in the future due to increasing demand for banking in India.“We have definitive plans to be a challenger in the CRM space by helping SMEs and Co-Op banks in India and our next target is stepping into SAARC nations,” envisions Narasimhan.
Panel :- Embedding Automation for paper free Banking
InDemand Infotech assisted a Kerala based Co-Operative Bank NESCO in the areas of Information broadcasting and loan processing. As both the processes were done manually, NESCO couldn’t attract more customers. InDemand Infotech stepped in and helped NESCO launch SMS and Email campaigns. Loan Origination system (LOS) features of the iCRM+ gave bank the flexibility to capture data at enquiry desk and use it till board level for reviews and approvals. LOS completely eliminated the need for physical loan application files and provided online loan approvals instantly. LOS also enabled users to review the Loan application in Malayalam and give feedback any time. In addition, the automation process reduced the Loan application processing time from eight Business days to just eight hours, because of which we have bagged further 5 Co-Operative Bank orders.