Creating a Quantifiable Business Case to Justify a CRM Transformation

Challenges posed by the pandemic have redefined the future of the Financial Services industry. Customer behavior has shifted, and a new era of accelerated digital initiatives has taken the industry by storm. To stay ahead of the curve, financial institutions are considering the implementation of major tech-enabled initiatives — but they are quickly learning they have a lot of ground to cover.

A critical aspect in driving digital advancement is unlocking executive buy-in, which can prove to be a towering challenge. Obtaining executive approval hinges upon the ability to justify expenditure through a tangible, sound business case.

This white paper outlines how to itemize the elements of a robust CRM business case and demonstrates how to quantify them to arrive at the magic number — one that strikes a balance between driving positive change and being financially viable.

In this white paper, we explore the pitfalls financial institutions encountered in the first generation of digital transformation, how it has evolved in its new era, and how the Agile methodology makes transformation less risky and more efficient.

We will also unpack:

• How to calculate the details of operational cost savings
• Why revenue growth projections are crucial in weighing transformational projects
• Customer growth and retention, as well as growth value calculations
• The time value of money and how it helps to strengthen a business case