Treasury Management System - Intranet Workflow Application
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Treasury Management System - Intranet Workflow Application

‚ÄčCustomer: SunTrust Banks, Inc.
Industry: Banking & Finance

Challenges:

  • Improving the efficiency of creating and implementing new treasury management products

  • Managing products and loan accounts after the sale

  • Being supported in a browser-based environment

  • Integrating with their legacy systems and databases

  • Providing a intuitive interface to business users

Keys to Success:

  • Working with their auditors, PricewaterhouseCoopers to define the process

  • Developing a workflow management system available through the web

  • Getting input from potential users to define an easy-to-use format  

  • Having the system up quickly (in less than 10 weeks)

Description:

Setting up and servicing treasury management products and loan accounts at SunTrust Bank was a complicated process, spanning several departments that often worked in parallel. The complexity of this process often resulted in delays and errors. When SunTrust began searching for a technical solution to this complex workflow challenge, its advisor, PricewaterhouseCoopers, recommended a browser-based solution that could be integrated with SunTrust's legacy systems.

An aggressive timeframe of only 12 weeks was set for building and implementing the new solution. That short timeframe eliminated SunTrust's internal IT department from consideration for the project as the internal staff was already committed to other projects.

SunTrust and PricewaterhouseCoopers selected B2B Technologies, a leading e-business technology partner and Microsoft Gold Certified Partner, to be the technology partner on the project. B2B set out to turn PricewaterhouseCoopers' baseline design into reality, building a Web-based workflow management system that captured all the product set-up information in a database.

Any department or user with a need for the information can consult the central database on an independent basis, without having to wait for other departments or other users to complete their use of the data. Enabling all relevant departments and users to base their actions on a single set of information minimizes errors, speeds the process and establishes accountability for all the departments involved in the complicated, multi-layered set-up process.

Because B2B involved SunTrust's business users early in the building phase, the system meets the specific needs of the bank's customer service department. Input from business users weighed heavily in the system's creation, helping to assure that users would adopt the system and champion it to their counterparts in other departments.

Adding both speed and accuracy to the account set-up process has increased the bank's customer service levels and improved its relationships with customers. Equally important, the bank now better understands its customers' needs, and the sales department is better equipped to sell additional products and services to a more satisfied customer base.

Benefits:

  • Creating a system tailored to meet specific needs of customer service representatives made for easy adoption

  • Developing a quick solution provided for a quick return to the bank in both efficiency and effectiveness

  • Increasing customer service levels improved customer satisfaction and retention

  • Providing a better system proved to increase sales and gave a much better approach to prospect management