how harvard's trust & gifts department uses crm
Post on 20-Oct-2014
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DESCRIPTION
Learn how Harvard Management used Pivotal to bring all their disparate systems together for a streamlined process which treats every donor (and related party) as a highly valued customer. Patrick Conlan, Harvard Management Company Inc.TRANSCRIPT
Customer Relationship Management (CRM) tool for Harvard Management’s “Trusts and Gifts” Department
Patrick ConlanMay, 2012
Harvard Management Company - Confidential
Harvard Management Company’s Trusts and Gifts Department
• Harvard Management Company
– Invests Harvard University’s Endowment– Offers variety of “Giving Options”, including:
o Illiquid “Special” Giftso Outright, Liquid Giftso Variety of Trusts
These “Giving Options” are managed by HMC’s Trusts and Gifts Department
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Trusts & Gifts’ (VERY) “Special Gifts” Business
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Trusts & Gifts’ Outright Gifts Function
• Process Outright / Liquid Financial Gifts
Record and Value Gifts for Donor, IRS
Liquidate Gifts immediately
Record exact proceeds from settled sale
Work closely with Harvard University to Reconcile funds and add to the Endowment
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Trusts & Gifts’ Trust Processing
Process Trusts
Documentation (Contract)
Liquidate Gifts funding the Trust
Invest Trust per Donor’s / University’s contractual agreements
Make payments to Beneficiaries per contractual agreementsChecksWiresEFT
Send Documentation to Donors and BeneficiariesAppraisalsLettersConfirmations, etc.
Harvard Management Company - Confidential
Donor Relations Customer and Data Challenges
• Donor Relations can get a call from any interested party on any type of gift or trust– Donor / Family Member– Beneficiary– Lawyer– Agent– University Representative– External Trust manager, etc.
• Donor Relations needs access to information quickly– Pricing to value gifts – Contractual Information– Information on Donor from Harvard University
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Current State Diagram (Before Pivotal CRM)
Current Trusts & Gifts Systems Environment
Tax System
Accounting System
GiftwrapHarvard University
Bloomberg
Check Writing(Secure Check)
-Annuities-PIFs
Document Management
System
Pricing Process
Check Writing (Great Plains)
-Trusts GiftwrapHMC
Database 1Annuities
GiftwrapHMC
Database 2PIFs
Trust Application
(Current CRM)
Gift Client: -Outrights-Annuities(History &
Values)
Estates Application
Tax Info
PowerBuilder Java
.NET
Planned Giving-Trusts
(History & Values)
Java
End Of Day Prices
.NET
Prices & Sec Descriptions
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Current Technical State of Trusts & Gifts (Before Pivotal CRM)
The Current T&G Systems Environment is Inefficient and not optimally designed for the T&G Workflow Requirements
• Difficult to Look Up Primary and Related Data for Donors– One of many ‘types’ of people may call T&G: Donor, Spouse, Beneficiary, Lawyer, etc.– Users need ability to view all information relevant to the caller at the time of the call– Users currently need to toggle between systems to get data necessary for call at hand– Users may need to call person back rather than have him / her wait while researching question– Users do not have good records of previous calls / correspondence at their fingertips
• Data is stored in Multiple Locations– Reporting may require joining tables across databases– Inefficiencies with the University (Giftwrap Databases)
• Lack of Integration among System Components– Several unnecessary data re-input points leading to potential errors and waste of time– Mailings are manual and time consuming
• Several Applications are unique to Trusts & Gifts– T&G is – to a large extent - its own ‘island’ at HMC – Not leveraging other HMC Systems enough– Cost Inefficiencies result from multiple sets of systems– Specialized T&G Applications written in PowerBuilder, Java and .NET – Support / Customization Inefficiencies across T&G / HMC– Institutional Knowledge of T&G apps limited to T&G department and T&G support staff
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Future State Diagram January, 2012
Pivotal CRM
CCHAccounting System
GiftwrapHosted at HU
Single Database
Check Writing
Pivotal would replace: Estates App (Sep) Planned Giving (Nov 1) Gifts Client: Outright Gifts (Nov 1) Gifts Client: Gift Annuities (Nov 1) Trusts App (Nov & Dec)
Replaces Old Accounting System
Flow and Reconcile static data between Pivotal and VPM
Document Management
System
Data Warehouse
Notes: Pivotal could be used by External Management & others CCH would be only ‘T&G’ software; all others used by HMC
Pricing / Security Master Process
Already built for Endowment Accounting
Ideal Trusts & Gifts Systems Environment
Tax System
Harvard DonorSystem
Begin with 2011
Tax Returns
Begin with 2011 K1’s
Values
State St. Bank
Mut Fund Mgrs
Check Writing
HMC Read Only Access(Donor System ID stored in
Pivotal)
Market Trades
HU T&G
(Man) Recon
Cp Act Auto-Reconcile
Fidelity Vanguard Templeton
= Change to System
= Later Integration= Scheduled Integration= Completed Integration
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Future Technical State of Trusts and Gifts
The future state will involve highly integrated, supportable, flexible robust systems whose components will be utilized outside of T&G.
• Create One Stop Shopping for Customer and Related Party Views across T&G– Pivotal can be configured to allow views across multiple sets of data: Gifts, Estates, Trusts, etc.
• Pivotal would be Centralized CRM System– Opportunity to reconfigure all of our CRM interfaces into a single platform– Pivotal may be used elsewhere in HMC: EMS– Greater Institutional Knowledge across HMC– Replace Trusts App, Estates App, Planned Giving Trusts, Outright Gifts, Gifts Client– Facilitate Reporting and Document Publishing– Increased Institutional Knowledge (not concentrated in T&G)
• Pivotal and VPM Implementation– Integrating two major systems in close proximity allows us to reach ‘ideal’ state sooner– Integrating these two systems allows IT to do integration once: fewer ‘throw-away’ integration pipes– However integrating Pivotal and VPM in parallel will need to be managed very closely by IT and
T&G
• Pivotal Implementation outside T&G– Pivotal Integration to EMS or for Other Apps / Groups benefits T&G– Greater support / ideas across HMC– T&G less of an ‘island’ technically and with regard to institutional knowledge
Harvard Management Company - Confidential
Business Tab and User Friendly Search views in Pivotal
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Harvard Management Company - Confidential
Gift Processing & Pricing Screen in Pivotal
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Harvard Management Company - Confidential
Reporting / Batch Edit Sample
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Harvard Management Company - Confidential
Trust Information Screen in Pivotal
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Harvard Management Company - Confidential
Project Management / Lessons Learned
• Do pre and post system diagrams; distribute (updated) regularly• Do not underestimate challenges with data• Dream about the best possible system; not copy of existing system• Familiarize yourself with Pivotal functionality before project
– Reporting, States, Batch Edit, Integration, Calculation, Data Validation, etc.• Try to specify (document, diagram) optimal solution before starting project• Attempt to identify risks before the project, and how to mitigate• Decide early how to maintain system long term• Build in ‘scope creep’ assumption to the project plan (and mechanisms to
deal with time, functionality, budget impacts if scope creep materializes)
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Harvard Management Company - Confidential
Project Risks (Sample items)
Risk 1: CRMC poses ‘key man’ and ‘key company’ risk to HMC. HMC could over-rely on CRMC for technical support, implementation, customization, etc.
Solution: HMC needs to significantly invest in understanding the product, especially technically.
Risk 2: HMC does a poor job defining its requirements to CRMC which could cost money and / or time.
Solution: HMC needs to acknowledge that the initial discovery and analysis phases are critical and to create detailed specification documents, and that the project’s success will be heavily driven by execution in early phases.
Risk 3: HMC over or under estimates the technical or business involvement in completing the project on time, budget, and to customers’ satisfaction.
Solution: HMC needs to manage this project closely, especially considering that a parallel accounting implementation project may be taking place within the same department.
Risk 4: HMC Over-estimates its competence in updating and customizing the system, leading to system problems, user frustration, etc.
Solution: HMC needs to work with CRMC to effectively gauge its competency level prior to taking on initiatives pre-maturely.
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