transforming data into assets

Copyright TLC Intelligent Solutions PTY

Transforming Data into Assets

Point Of View

Document Version: Final

Date: 27-01-2017

Author: Thomas Lucey

Copyright TLC Intelligent Solutions PTY Thomas Lucey 27-01-2017 2Slide

Customer Strategies Fundamental Shift – enterprises in the past built growth & strategies by looking-out at product & services performances; today with the power being with the customer and “experience” being the new differentiator so building Outside-Looking-In strategies has never been so important as it is today

Customers expect a lot more from financial institutions

and wont wait around to get it

Outside-Looking-In Strategy This is how it is …

In the world we live in … customers now have the power, tools,

resources & time to critically review, compare & select enterprises value

propositions, products & services for the best deal

Every day … customers are reviewing, comparing & selecting but not

necessary telling you about it, until it is far too late in the day & they have

already left you for some one else

But … building Outside-Looking-In strategies are extremely complex

because it’s no longer about the product, but rather about the consistent

customer experience throughout the value chain, where experiences are

vaguely specified for actionable outcomes & direction strategies

So… if you approach the Outside-Looking-In strategies working

backwards from experience promises to journeys to actions & then to data

you will ensure a structured & effective execution path through all this

customer & intermediary channel & interaction complexity

This way … you strategy will have a specified experience outcome

delivered by a promise at a particular journey point and with it the

business action and data requirement to avoid any over reach

Don’t forget … strategy is not a strategy until it is implemented and

organisational cultural of the enterprise is adequately transformed and

continuously improved over time


Working Hypothesis – the value of customers experiences & positive customer behaviours will increase business advocacy and therefore profitability growth between 2.3% and 4.4% year on year when correctly applied

How it fits together

High quality data enabling greater data utility enabling

effective actions delivering on promises resulting in positive

customer experiences & customer behavioural changes

The Business Benefits

Identify 1. Lead Routing other LOBS & vice verse (while on the telephone)

2. Identify up sell opportunities within existing customers

3. Identify cross sell CI to other LOB’s and brands

4. Identify New opportunities within the corporate customer book of business

5. Grow the book by partnering, broker lead sharing & broker digital offerings

6. Grow new markets by adopting new White Label, Digital & Mobile sales channels

Attract 7. Provide brokers & customers with a Gold, Silver & Bronze Omni Channel experience

8. Appropriate offerings by cultivate leads and opportunities prior to sales pipeline entry

9. More competitive pricing based on the complete customer picture (Whole account view)

Retain 10. Proactively action churn risk customers by timely executing Next-Best-Actions & Offers

11. Re-enter claimants & lost opportunity prospects into the sales & renewal pipeline

12. Activate Gold, Silver & Bronze service offerings as a part of renewal process


The challenge – is very often low & inconsistent levels of customer data quality & integrity as well as an absence of front line customer data availability

Data Quality Index

1

2

3

4

6

7

8

5

Market Segmentation

Appropriately timed offerings

Appropriate Omni sales & marketing channel

Appropriate customer conversation

Appropriate products & offerings

Customer Centricity

at the point of engagement

10 20 30 40 50 60 70 80 90 100

Member Recognition (Golden Record & Unique customer ID)

Contacts

Demographics

Life Stage

Holdings

Performance

Preferences

Needs

Behaviours

Member assumptions

Desired Business

CapabilitiesAttributes of a

complete view of

Members

Special Note: Data Quality Index is scored based on customer data Correctness, Completeness & Consistency


The Cause – The TLC IS IMF Capability assessment reveals key causes which are often loosely connected customer data capturing & provisioning processes causing Customer Identify, Attract & Retain inefficiencies

Untapped Business Opportunities

Identify 1. Lead Routing other LOBS & vice verse (while on the telephone)

2. Identify up sell opportunities within existing customers

3. Identify cross sell to other LOB’s and brands

4. Identify New opportunities within the corporate customer book of business

5. Grow the SME book by broker partnering, broker lead sharing & broker digital offerings

6. Grow new markets by adopting new White Label, Digital & Mobile sales channels

Attract 7. Provide brokers & customers with superior Omni Channel experience

8. Effectively cultivate leads and opportunities prior to sales pipeline entry

9. More competitive pricing based on the complete customer picture (Whole account view)

Retain 10. Identifying churn risk customers and timely executing Next-Best-Actions & Offers

11. Claimants & lost opportunity prospects re-entry into the sales & renewals pipeline

The Cause The Effect

Information Management Framework


TLC Intelligent Solutions – Takes an holistic end to end approach to data quality & utility from strategy & concept right through to planning & implementation

Customer MDM Operational Analytics Customer CRM

Strategy &Design

Plan &Implement

Target Operating Model

“It Is All About The Data”

Strategy & Design: We disseminate the business strategy into 4 key capability; Trusted Customer

Data, Correct & Timely Customer Insights, Confident Customer Interactions, and Target Operating

Model so business success becomes clear and a balance set of balanced requirements can be

formed

MDM: Define & direction set what Master Data Management means for the enterprises in the

form of data quality and availability to enable to Identify, Attract & Retain customers

CRM: Define & direction set what is the appropriate Identify, Attract & Retain sales force

automation functionality for front line staff to hold the right conversation with the right customer

for the right outcome

Analytics: Define & direction set what is the correct customer Identify, Attract & Retain

insight to be developed for each individual customer and the journey they are on with the

enterprise

Target Operating Model: Define & direction set the customer centric business & support

processes, data model, ownership model, roles & responsibilities & governance framework to

sustain how the future state of customer data quality & utility

Plan & Implement: We provide program planning design & support as well as program

implementation execution support so the strategic commitments and business benefits don’t become

lost in the overall program execution detail

Business Case: Business problem or goal/aspiration definition, root cause analysis and to be

concept design and business benefits identification and stakeholder engagement

Project Plan: Concept to implementation by disseminating MDM, CRM, Analytics & TOM

capability goals into actionable user stories & sub-stores that form the basis for proof of

concept, vendor selection and project Epics, Sprints, Spikes initiation

Project Implementation: Project direct, the project Epics, Sprints, Spikes from concept to

initiation which includes MDM, CRM, Analytics & TOM artefacts detail design and

implementation there of including stakeholder and change management

• Business Process Standardisation

• Organisation centralisation & off shoring

• Data Governance / Data Council & Data Stewardship

• Solution sourcing and Implementations


How – by reverse engineering the business objectives (Actions, Promises & Experiences) back into MDM, CRM & Analytics capabilities and sustaining them through a fit for purpose Target Operating Model

Well thought out

customer technology

strategy

… Business Value …

Fit For Purpose

Solution Landscape


Why – Because customer experiences are emotional outcome from data enabled actions aimed at fulfilling customer promises which determines customer behaviours and how customers will relate to products now and in the future

The What

3. Actions 1. Identify customers – analysing internal & external data, and deploying

traditional & white label above & below the line marketing campaigns

2. Attract customers – using data to hold timely, business & life stage

applicable conversations with propositions that are meaningful & relevant

3. Retain customers – proactively utilise data to improve claimant journeys

and to predict & deploy at risk to churn customers mitigation actions

4. Promises 1. Coverage of known & unknown risks (products)

2. Competitive, relevant & timely offerings & services

3. Varity of product & service options (brads)

4. Accommodate your life style & business needs

5. Provide channel flexibility and product options & alternatives

6. Value your relationships & sphere of influences

7. Reward you as an valued customer

8. Easy to deal with & freeing you up to live life

9. Respect your decisions, your choices & your information

5. Emotion 1. Needs met

2. Value for money

3. Accommodating

4. Honesty

5. Trust

6. Secure

7. Importance

8. Understanding

9. Belonging

10. Advocate

6. Impact Vision – Become the company of choice

1. Customers providing Enterprises with quality business relevant data

2. Agencies prepared to place more business with carriers

3. Agencies wanting to partner & collaborate with carriers

4. Customers remaining with enterprises for the duration of their lifetime

5. Customers having all their financial service products provide by 1 company

6. Channels effectively cross & upsell products & services

7. Intermediaries & Customers advocating the company they just dealt with

Customer Experience; is not one off achievement but

rather a continuum of data quality & data utility enabling

business actions

1. Data Quality

2. Data Utility


Thomas Lucey’s Profile

Managing Director of TLC Intelligent Solutions

Executive Consultant,

Thomas is a qualified Management Consultant and talented business strategist with over 20 years’ experience in business strategy

development within the areas of Enterprise Resource Planning (ERP) Master Data Management (MDM) and Customer Relationship

Management CRM). Thomas has been leading ERP MDM & CRM consulting projects for multinational clients across the Financial Services

Sectors as well as Manufacturing and Oil & Gas industries within Europe and Australia.

Thomas track record in both business and IT has resulted in Thomas successfully supporting companies achieve great results in solution

adoption by playing a key role as the conduit between business and IT from Strategy development to Solution implementation

Key Strengths

Developed a cross industry customer & distributor management framework that evaluates value propositions, business capabilities

and management structures against enterprise strategic goals

Strong leader and can communicate throughout the management hierarchy while working well with ambiguity & complex

environments

Understands the underlying need for change & identifies identifying change agents

Able to think conceptually and out of the box while remaining focused on the task at hand

Determines the exact requirements needed to make the change happen

Demonstrates focus and determination in achieving results

Working with solution providers during service purchasing and contract negotiating

M +61 41 665 91 80

[email protected]

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Reference Customers

Data Mgt Business Case

Data Governance

MDM Strategy Design

CRM Strategy Design

Data Quality Business Case

Data Mgt Business Case

CRM Strategy

Data Governance

CRM Strategy Design

MDM Strategy Design

Data Governance

CRM & MDM Strategy

ERP – LMS Implementation

MDM Strategy

ERP Business Case

ERP - Procurement

ERP – Capability Assessment

Leadership Strategy

EMEA Resource Mgt

Manufacturing & Logistics

Data Governance

Data Quality

MDM POC & Business Case

MDM Strategy Design & Implementation

Data Governance Design & Implementation

Target Operating Model Design & Implementation

MDM Strategy Design

CRM Strategy Design

Data Governance Design

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