Integrated Accounting Partnership :  CRM, Marketing, Financial Tools,         Research & Cloud     By: Daniel Kiflai
Agenda1. Issues Defined2. CRM – What is it?3. Integrating CRM & Marketing   Strategy:       Definition,   Benefits, Issues...
Issues Outlined1. Stagnating Business2. IAP’s Inability to target   new Clients3. Employees have no   remote access to   d...
CRM: Definition, Goals and                  BenefitsWhat is CRM?What are the overall goals of a  CRM?Benefits of a CRM sys...
Integrating CRM & Marketing                Strategy (Defined & BenefitsWhat is relationship marketing?Benefits of Implemen...
Integrating CRM & Marketing            Strategy (Issues)Issues with   Implementing a CRM   System:• Training Costs• Overhe...
Integrating CRM and Marketing             Strategy (Sony & Kana Com)Real Life Example: Sony & Kana Communications• Sony hi...
Integrating CRM and Marketing            Strategy (Potential Vendors)Cloud Base Application –   NetSuite• Netsuite offers ...
Implementing CRM SystemStrategy Involved with  Implementing a CRM  System:1. Assessment and   Strategy2. Setup3. Customiza...
Financial ToolsOnline Tools that can be helpful  for IAP’s clients:• Financial Statement Viewing• Virtual Tax Forms• Blog ...
Research Research could be very helpful for  IAP in finding new clients.Some of the Criteria that IAP must  consider when...
Research (Tools for Research)Some of the research tools  IAP can use are:• Assessing Existing Clients• Blogs and Mailing L...
Research: Search Operators• Search Engines• Professional  Networking Sites• Research Firms
Research Operator: Example• Toronto Area Startups  (http://toronto.areastartups.com/)
Cloud Business Applications                       (Advantages) Some Benefits with Cloud  Based Applications for IAP  are:...
Cloud Business Applications       (Disadvantages) Some of the concerns  with cloud computing  IAP must be aware  are:• Co...
Conclusion1. Adopt A cloud Based CRM system2. Implement a general cloud computing system3. Be Web Resourceful4. Plan for t...
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Daniel k final exam case study -iap

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  • Issues OutlinedBusiness is slowing down due to older clients retiring or closing and few new clients being contractedThere are many businesses being startup up throughout the surrounding geographical region but IAP doesn’t have the facilities in place to identify and target them.There are no facilities for the accounting staff to visit clients and update information remotelyIAP is not very resourceful. There are many search operators on the internet that they can use for free to search for new start-ups Clients don’t have the ability to view or update financial statements and tax forms on-line.
  • What is CRM?: is a widely implemented strategy for managing a company’s interactions with customers, clients and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales activities, but also those for marketing, customer service, and technical supportCRM Goals: The overall goals are to find, attract, and win new clients, nurture and retain those the company already has, entice former clients back into the fold, and reduce the costs of marketing and client service.Benefits:Clients get a sense that they are more “part of a team” instead of just being subjects for your sales and marketing divisions. A well incorporated CRM system bears the necessary tools to enchant its customer, which will nevertheless increase brand loyalty.By having client information stored in a CRM system IAP can use this data to make better informed decisions on how to best serve there customers, and follow-up on all levels in which customer relationship is taking place.The CRM system will encourage IAP to collaborate with its clients to identify problem areas that need improvement
  • Relationship Marketing - CRM marketing is commonly defined as "a form of marketing developed from direct response marketing campaigns which emphasize customer retention and satisfaction, rather than a dominant focus on sales transactions.BenefitsCRM marketing based strategies can help drive sales, expand business opportunities and create a new standard of customer service and satisfaction that IAP has apparently failed to achieveCRM marketing can save IAP a boat load of money by enabling them to directly target customers who are most likely to be interested in there services. This will allow them to avoid the costs of pursing customers who have absolutely no interest in there services.IAP’s CRM system can be used like a follow up email program, as part of there marketing strategy which will allow them to assess customer satisfaction while still informing them that they will be there for there next transaction. Customer information can be analyzed to see where they are missing opportunitiesMarketing solutions derived from CRM are only limited by the imagination of IAP’s marketing department.
  • IssuesTraining Costs – The use of a CRM marketing system will mostly likely mean hiring high priced professionals that specialize in this field to train the staff in groups. The time needed to complete the training will take away from productivity.Overhead Costs - If IAP is to choose a localized CRM application instead of a remote one, there will be considerable overhead costs associated with running the system. Furthermore if the software being used is proprietary, IAP will need to pay the system developers, administrators and technical maintenance specialist to keep the CRM system running smoothly. Backup storage for the vast information used by the CRM marketing system will add an additional expense. With a localized CRM system IAP will have to bear the costs of system upgrades and security patches to maintain its integrity.Record Loss - The disadvantage to IAP would be that they wouldn’t have control of there data, and if for some reason the remote server has a failure they wont be able to retrieve the crucial records. Privacy Concerns - Web hackers tend to target organizational CRM databases when applying there craft in the hopes of striking it big. Emails, phones, records, purchasing behaviors and all other data relating to there clients can be used as a source of fraudulent activity if it lands in the wrong hands
  • In the year 2000 Sony decided to use Kana Communications CRM to manage its Playstation Network (PSN). Sony Playstation 3 (PS3) is its third generation home video gamming device. This sophisticated device has a program built into it called the Playstation Network (PSN). This software is basically the graphical user interface used to connect users to the internet and make online transactions such as buying video game expansions which extend the life of a game. The only way to make a purchase on this system is through the use of a credit card. Sony was using the tools available in Kana's CRM to track and store customer information such as purchasing behavior, credit cards, and demographics to develop target market advertising campaigns. Little did Sony have a clue that hackers were working feverously to break into the PSN network for over five years since its release. In April, 2011 hackers were finally able to break through and had access to over 70 million user accounts and there banking information. Luckily for Sony the hackers only wanted to prove that they were capable of breaking through the system and didn’t care about the private information they had gained access to. Such a scandal can be costly for IAP as Sony has never been able to fully recover from it since. The loss of customers and sales to its closest competitors Microsoft and Nintendo has been devastating.
  • Does the cost of hiring a full time IT tech specialist to administer the day to day operations of your CRM system exceed that of the cost to have it maintained remotely? These are some of the question that IAP must answer before they commit to anything.
  • Strategy to Implementing a CRM SystemAssessment & Strategy - Determining the role the CRM will play is a key to its successful implementation. Identify the tasks your need the system to perform, data to be recorded, complexity of analysis needed and any other features that will help make IAPs business more streamlined.Setup - If IAP has a capable in house IT department they can take on the task of setting up the CRM system. If it is too complex of a task then bringing in an outside firm to handle this phase might be the best option though it will be costly.Customization - . Customization efforts will most likely require specialist from the selected vendor to setup.Learning & Growth - Including built-in training features into your software to assist employees in learning the new system is highly recommended. Tutorials and self teaching tools will be a key to helping IAP's staff grow with the system.Continuous Improvement - Upgrades, patches and cross software compatibility are the many different ways a CRM system can continue to improve and adapt to its environment
  • Useful Online ToolsFinancial Statement Viewing - Most accounting firms that have a website include this feature and IAP shouldn’t waste time on making such a simple decisionVirtual Tax Forms - IAP can use this tool to expand its market beyond dealing with organizations but to now working with individuals who need tax advice.Blog & Forums -Depending on the types of discussions being conducted in these blogs and forums, IAP can create a buzz within the finance community which will attract others to want to check it out.Live Video Conferencing- If IAP is to expand its client base then it must adopt this communication medium as there will be a rise in scheduling conflicts in relation to the increase in clientele. The cost of travel from and to client offices can not be understated and it will be expected to balloon with the increase in business.Storage linked with there cloud - This will give there clients the flexibility to upload documents and other information relating to business. Of course the data allocated to clients will be capped and come at a fee but the benefits derived from this will out weigh the costOnline Customer Service & CRM Integration - The CRM system can be used as a tool to track client information, patterns and behaviors. This data can then be summarized into reports, and used by the marketing department in developing strategies to increase customer satisfaction and identify target markets
  • Research CriteriaMarket Size - IAP must ascertain how big the market is.Profitability of Market - IAP has to select a market in which people are willing to spend money. There are many markets that are solid but due to present economic circumstances people aren’t as willing to spend.Market Niche - IAP can try to identify any market niche possibilities in which they can cater to a select group of clientsFamiliarity - Finding clients in markets which IAP already has knowledge and experience of means they won’t have to spend too much time and money in marketing to that area.Competition - Obviously IAP would prefer to find clients in areas in which there isn’t great competition. This can reduce the likelihood of your client jumping ship to a competitor.Demographics - IAP can benefit from the use of measureable statistics such as years of business existence, age of staff, median income of employees and executives, and types of occupation.Geographic -Based on location and business address.Psychographics - Determine if any of these potential clients share similar belief and values.
  • Research ToolsAssessing Existing Clients - The first step IAP should take in identify there ideal target market is right beneath there nose with the there existing clientsBlogs and Mailing Lists - If IAP had blog subscribers or prospective clients on there mailing lists that appear to be interested in there services, IAP can simply make a phone call and take the relationship to the next stageSocial Media Networks - Social networking tools like LinkedIn, Monster, Twitter, Facebook, and industry forums have made its easier for businesses to find out what people are thinking and what they desireIndustry & Community Events - IAP needs to make its self more visible amongst its peers and use these gathering as a hunting ground to meet potential clients to get a deeper understanding of there target market. This is also the opportune time to network with colleagues in the industry and conduct some market research on the competitionTrade Papers, Publications and Reports - Trade papers and reports highlight the latest news and developments within the industry
  • Research OperatorsSearch Engines - I would recommend the use of various internet search engines such as Google, Yahoo and Bing to identify new businesses within my geographical region. This is a cheap and free option that only requires patience and persistence.Professional Networking Sites - The use of professional networking websites such as LinkedIn, XING, Viadeo and Wisestep is an excellent source to finding potential clients as these organizations specialize in the interaction and relationships of business professionalsResearch Firms -IAP can also use the assistance of firms who specialize in identifying target markets and potential clients. This is a more costly option but it will yield more concrete results and save a lot of time.
  • Toronto Area Startups - specializes in providing listings and information about startup companies in your local area and tracking the progress of these startup companies to see who is growing. This website also ranks the top 100 startups in Toronto on a monthly basis to give you an idea of who is succeeding and who is failing
  • Advantages of Cloud based applicationsCost Control - Cloud based technology is paid incrementally. IAP wont need to expend enormous sums of money on physical servers located in there offices no more. Simply put, it’s “pay as you go".Storage Control & Scalability - Storage is unlimited and can be increased or decreased when needed. Automated Service - IAP doesn’t need to worry about the maintenance of the system or hiring full time IT personnel. The software is kept up to date remotely by the developers own technical team. Increased Mobility - With a cloud application employees can have access to there files where ever they are with out the need to by there desk.Internal Resources are Freed up - By putting the burden of storage and server needs in the hand of third party specialists, IAP's staff can turn there focus to achieving business related objectives and avoid the costs in hiring additional manpower24/7 service - It will be up to the vendors to provide 24/7 customer support and an immediate response to system fluctuations.Implementation made easy & Capital Expenditure Free - IAP won’t need to purchase expensive hardware, software, or have any on site installation fees because it’s all done remotely. IAP can avoid the technological cycles in which equipment becomes outdated and the need to update is crucial.Energy Savings - Eliminates the need for on-site hardware, which in turn can reduce energy consumption from there servers. The cost savings that IAP will be able to attain from less energy consumption can be used to invest in other area of the business.Time to market - This will enable IAP to reach its market much faster and reduce the risk of missing out on opportunities.Real-Estate Savings - IAP can achieve significant cost saving from not having to dedicatee the office space required to host the data centers along with the added costs associated with cooling these devices.
  • Disadvantages of CloudControl of Data - You have no control over your data and thus must be completely trusting in your chosen vendor’s ability to protect itSecurity Concerns - Hackers tend to target these types of services. It’s no secret that cloud servers host sensitive organizational data.Latency Issues - In many cases cloud servers are located off shore. This can at times result in delayed connection issues between the client and the server.Law & Regulation - This technology is still in its infancy stages and thus regulation of it by the courts is severely lagging behindNon-forecasted Costs - If usage of the cloud server becomes greater than forecasted, costs of the service can get out of hand. In addition, if the cloud account is compromised by hacker’s interested in using it to host illegal file sharing data then the bandwidth costs will unknowingly balloon.Software Loopholes - Periodical software updates and patched can unintentionally change the security settings for the worstConnectivity - You must always be connected to the internet to access the system. If for some reason IAP's internet connection shuts down they won’t be able to access there documents and operations will come to complete halt.Integration - Integrating your local devices such as printers, smart phones, IT equipment, USB devices and email systems with that of the equipment hosted in the remote server is extremely difficult.
  • 1. Adopt A cloud Based CRM system Course of Action: I would suggest IAP incorporate the services of NetSuite's SAP CRM system as it is widely held as the top cloud based software. This system is highly flexible as it offers "integrated suite of CRM, ERP, Supply Chain, HR, Financial and other enterprise applications"(7). This means IAP can reduce the time and costs of integrating its own process with that of the NetSuite. It also “integrates all core business functions across an entire company including financials, sales, customer relationship management, inventory, and operations"(8). Timeline: At most it will only take about 2 weeks or a month for more complicated CRM based system to be setup. I would suggest that IAP keep there initial CRM system simple and then add to it over time. This way productivity won’t be hindered by the time it takes to implement a complex CRM system and IAP won’t also have to commit itself to features it doesn’t require in such a system 2. Implement a general cloud computing system Course of Action: You might be a bit confused as I have already mentioned a cloud based CRM system. A general cloud system is one in which organizational data and application are stored and accessed remotely. Whereas with Net Suite's SAP, is a business software cloud that is geared for customer relationship purposes. This general system will allow IAP's employees to access there workstation any where they have an internet access. Microsoft’s Azure is one of the most flexible cloud systems in the market as it has the ability to integrate seamlessly with systems like that of Net Suite which is a business software cloud. Timeline: With a general cloud system like Microsoft’s Azure it should take no longer than a week or two to have it up and running. It should integrate well with the Net Suite Sap, giving IAP a cross connected network. 3. Be Web Resourceful Course of Action: Using a search operator like that of Toronto Area Startups (http://toronto.areastartups.com/), phone calls can be made to inquire about potential clients in the market. This is a less costly alternative to having a market research firm do the job for you. If identifying new businesses in the area is IAP's objective then this option gets the job done at no cost.  Timeline: There is no timeline for this step, as it is always a continuous mission to attract new clients and increase your market share.  4. Plan for the training of employees Course of Action: Determine the learning need of your staff and have periodical training sessions. Getting a handle on these new systems won’t be easy and IAP needs to make sure everyone’s on the same page. If it means hiring a professional to take on the task of training then so be it. Timeline: This will be an ongoing process that continues as the CRM system grows. But as it relates to the Microsoft Azus system it shouldn’t take more than two training sessions as it is built to be user friendly 5. Allow the viewing and updating of client financial information through the store front  Course of Action: Build the storefront with the ability to give clients access to financial statements. This should be planned during the design phase of the storefront to limit any technical issues that may arise in the future. Documents that are being viewed should also be given the ability to edit them. Financial Statements should be converted into multiple file types such as Word, HTML or PDF to give access flexibility. IAP needs to make sure that any documents being edited are saved as temporary files that need to be assessed by IAP’s staff to determine the reasons for editing. Once approved by the staff, then they will be saved as the final file. This is a quality control mechanism for avoiding any mistakes that clients might cause when they are editing there documents. Timeline: This is one of the simplest steps in the storefront and shouldn’t take up much time. 6. Use social networking tools in your storefront to increase communication and as a source of information for your CRM system Course of Action: Setup a section on the storefront dedicated to blogs and forums in which clients can share there opinions on industry matters. This can attract the attention of people within the finance sector and thus create a buzz. Having the CRM system track client behaviors can be helpful in identifying new marketing strategies. IAP should also setup a Twitter and Facebook account as this can be viewed by the public as being hip and modern.  Timeline: Setting up the blog and the forum won’t take much time but integrating the CRM system into it can be complicated. There’s a lot of coding and algorithms that must be designed by computer engineers to get the CRM system to understand what to record and what to ignore.  7. Setup web based tax forms than can be accessed both by individuals and organizations Course of Action: Design two sets of tax forms, one for organizational purposes and the other for individuals. Most company’s have this feature on there web site and is a very simple way to expand your market base. By allowing regular people to fill out tax forms on your website you increase traffic and thus you widen your market reach to prospective clients. Timeline: Once they have the tax forms in order then it shouldn’t take long to convert them into virtual documents.  8. Include a video conferencing feature in the storefront Course of Action: Design this feature as medium to connect IAP to its clients remotely via the internet. There is no need to have face to face meetings for matters that aren’t significant. Most organizations have this and IAP should catch up with today’s business communication technologies or it might run the risk of being viewed as out dated. This feature should also be part of the storefront, this way everything will be compacted in to one application instead of having to access multiple modules. Timeline: Not a complicated feature to setup and should be able roll out with the store front
  • Daniel k final exam case study -iap

    1. 1. Integrated Accounting Partnership : CRM, Marketing, Financial Tools, Research & Cloud By: Daniel Kiflai
    2. 2. Agenda1. Issues Defined2. CRM – What is it?3. Integrating CRM & Marketing Strategy: Definition, Benefits, Issues, Real life Example, and Potential Vendors4. Implementing a CRM System5. Financial Tools6. Research: Criteria, Tools, Search Operators, and Example7. Cloud Business Application: Benefits and Concerns8. Conclusion: Recommendations
    3. 3. Issues Outlined1. Stagnating Business2. IAP’s Inability to target new Clients3. Employees have no remote access to documents and Applications4. Not web resourceful5. Client access to financial records and tax forms is severely limited
    4. 4. CRM: Definition, Goals and BenefitsWhat is CRM?What are the overall goals of a CRM?Benefits of a CRM system to IAP:• Increased Customer Satisfaction• Increase Customer Loyalty to IAP• Sharing and Distribution of Data• Collaboration & Innovation
    5. 5. Integrating CRM & Marketing Strategy (Defined & BenefitsWhat is relationship marketing?Benefits of Implementing a CRM System:• Drive sales, expand business opportunities, create new standards of customer satisfaction• CRM marketing can save IAP a boat load of money by enabling them to directly target customers who are most likely to be interested in there services.• IAP can also use CRM marketing as a form of email outreach that uses there database to make contact with there clients databases on an effective level.• Identify missing opportunities• Limited only by Imagination
    6. 6. Integrating CRM & Marketing Strategy (Issues)Issues with Implementing a CRM System:• Training Costs• Overhead Costs• Record Loss• Privacy Concerns
    7. 7. Integrating CRM and Marketing Strategy (Sony & Kana Com)Real Life Example: Sony & Kana Communications• Sony hired Kana to manage its Playstation Network(PSN)• PSN Network is as the software that connects PS3 Gamers to the internet so that they can make digital content purchases• Banking and Personal Information is saved in this network• Hackers targeted the PSN for over 5 years• In April,2011 hackers finally broke through and had access to over 70 million user accounts and there banking information• Sony could never recover from the scandal. Lost market share to Microsoft and Nintendo
    8. 8. Integrating CRM and Marketing Strategy (Potential Vendors)Cloud Base Application – NetSuite• Netsuite offers cloud storage and server maintenance but at a costLocalized Application – Microsoft Dynamics• Microsoft Dynamics allows you to store data locally and maintain your own system, but does IAP have the technical capabilities to take on such a task?
    9. 9. Implementing CRM SystemStrategy Involved with Implementing a CRM System:1. Assessment and Strategy2. Setup3. Customization4. Learning & Growth5. Continuous Improvement
    10. 10. Financial ToolsOnline Tools that can be helpful for IAP’s clients:• Financial Statement Viewing• Virtual Tax Forms• Blog & Forums• Live Video Conferencing• Storage linked with there cloud• Online Customer Service & CRM Integration
    11. 11. Research Research could be very helpful for IAP in finding new clients.Some of the Criteria that IAP must consider when conducting market research are:1. Market Size2. Profitability of Market3. Market Niche4. Familiarity5. Competition6. Demographics7. Geographic8. Psychographics
    12. 12. Research (Tools for Research)Some of the research tools IAP can use are:• Assessing Existing Clients• Blogs and Mailing Lists• Social Media Networks• Industry & Community Events• Trade Papers, Publications and Reports
    13. 13. Research: Search Operators• Search Engines• Professional Networking Sites• Research Firms
    14. 14. Research Operator: Example• Toronto Area Startups (http://toronto.areastartups.com/)
    15. 15. Cloud Business Applications (Advantages) Some Benefits with Cloud Based Applications for IAP are:• Cost Control• Storage Control & Scalability• Automated Service• Increased Mobility• Internal Resources are Freed up• 24/7 service• Implementation made easy & Capital Expenditure Free• Energy Savings• Time to market• Real-Estate Savings
    16. 16. Cloud Business Applications (Disadvantages) Some of the concerns with cloud computing IAP must be aware are:• Control of Data• Security Concerns• Latency Issues• Law & Regulation• Non-forecasted Costs• Software Loopholes• Connectivity• Integration
    17. 17. Conclusion1. Adopt A cloud Based CRM system2. Implement a general cloud computing system3. Be Web Resourceful4. Plan for the training of employees5. Allow the viewing and updating of client financial information through the store6. Use social networking tools in your storefront to increase communication and as a source of information for your CRM system7. Setup web based tax forms than can be accessed both by individuals and organizations8. Setup web based tax forms than can be accessed both by individuals and organizations

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