ITWorx Develops Venture Capital (VC) Bank CRM Implementation to Manage Its Products and Customers History and Subscription

Customer Profile

Venture Capital Bank (VC Bank) is the first Islamic investment bank in the GCC and Middle East and North Africa (MENA) to specialize in venture capital investment opportunities designed to drive business growth in portfolio investment, and provide risk adjusted returns on investments. It is positioned to offer its clients a broad range of superior financial services and unique investment opportunities across a number of promising asset classes and create a pioneering business model and take a leadership role in institutionalizing investment in the regional venture capital market.

The Challenge

VC Bank, in Bahrain, is the first dedicated Islamic venture capital bank in the GCC and MENA region, offering its customers a broad range of superior services and unique investment opportunities across a number of promising asset classes in the GCC and MENA markets. The Bank’s principle areas are the venture capital and business development, private equity, real estate, and financial advisory. VC bank has different departments; Investment departments responsible for creating ideas and capturing investment opportunity for projects; Placement departments responsible for creating business for the bank and contacting investors; and HR and Support Team, who is in charge of maintaining customer information, following up on payments, and sending reminders to the customers. VC Bank users were using Microsoft Excel sheets to add and track their customers’ subscriptions and their payments; a matter that consumes a lot of time to track 1000+ customers’ subscriptions to projects between shareholders and investors leading to inconsistency of data format of customers’ data. VC Bank needed a Web system for automating the process of marketing and following up on the operations of its projects as well as customers’ support.

The Solution

ITWorx has implemented a Microsoft Dynamics CRM Web-enabled solution that automates the activities related to products and customers management.

 

Dynamics CRM implementation provides VC Bank with several modules for products and customers management. Product Management module allows authorized users to manage and maintain products data and transactions; Investment Management module manages the multiple investments which are allowed on the same product; Subscription Management module holds customers’ subscription information in a specific investment, and Dividends Management module is used for adding payments to the customer.

 

ITWorx solution uses Microsoft Dynamics Great Plains (GP) Cash Flow Company Accounts and Transaction company Accounts buttons to synchronize these accounts every period specified by the administrator.

 

The system provides mail notification feature that allows the customers to receive different notifications from the bank like payment instructions, payment delay notification, and updated statement for the customer’s account…etc.

 

VC CRM system generates two types of documents that need to be approved by the Chief Investment Officer and Head of HR and Support through defined approval workflow cycles: Financial statement & Investment statement. The financial statement constitutes of valuation statement that is used to determine the estimated value of a customer’s investment & cash flow statement that checks movement of cash on investor current account. Investment statement shows share in every project, dividends of every project, and outstanding payments.

 

The system includes integration between GP data and Dynamics CRM. Outbound integration is concerned with moving data from CRM to GP, where CRM will send information about multiple objects, such as customer/account & Payable and Receivable invoices, to GP.

 

The proposed solution included the migration of old data from Excel format to CRM unified, structured Database.

 

Finally, ITWorx used Microsoft SQL Server Reporting Services to generate valuable reports, with different categorization and filtering, for Product Summary, Investor Summary, Placement Team Performance, and Investor Segmentation. VC Bank administrators will be able to create custom reports, as per business and users needs, through Microsoft SQL Server Reporting Services (SSRS) interface.

The Benefits

  • Better monitoring of customer business and cases
  • Accuracy of customer financial & investment statements through automated approval workflows cycle
  • Better insight on business progress through performance and operational management reports

Technologies and Software

  • Microsoft Dynamics CRM 4.0
  • Microsoft .NET Framework 3.5/C# ASP.NET 3.5
  • Microsoft SQL Server 2005
  • Microsoft CRM Business Audit Accelerator
  • Microsoft GP 10.0
  • eConnect + GP Web-services
  • Microsoft SQL Server Reporting Services (SSRS)
  • Visual Studio Team System (VSTS)
  • SOAP Web-services
  • XML
  • JavaScript