Understanding Industry Solutions

This chapter introduces the main concepts for industry solutions and discusses business processes for:

• Communications.

• Financial services.

• Government.

• Energy.

• High Technology.

Note. Financial Services includes banking financial services, insurance, and wealth management.

PeopleSoft CRM Industry Solutions

PeopleSoft industry solutions provide deep industry functionality that integrates easily with existing applications and solutions. All PeopleSoft CRM industry solutions are built on three key functional areas:

• Extended and enhanced data models.

  Data models support the unique data needs of different industries. These models include product data models, which enable you to define products and services based on your industry business model, and customer data models, which not only capture industry-specific attributes but also support one-to-one, one-to-many, and many-to-many relationships.

  Customer data models provide insight into the roles and relationships that a customer has so that you have a complete understanding of their total value. For example, when insight into a customer’s consumer and commercial accounts is combined with other entities that are associated with those accounts, a financial institution can make better decisions regarding retention and cross-selling strategies.

• Prebuilt business processes.

  Prebuilt business processes reflect the core transactional needs of different vertical industries. Via an easy-to-use graphical interface, users have the ability to configure these business processes and rules to work the way they need them to. They can be simply configured within PeopleSoft by a business user without writing or modifying any code or having to depend on IT for assistance. Examples of these prebuilt business processes include:

  • Service activation.

  • Order prequalification.

  • Complex and simple service configuration.

  • Claims and policy administration.

  • First notice of loss submissions.

  • Phone number assignments.

• Prebuilt integration and integration points.

  Prebuilt integration and integration points at the process and data level. PeopleSoft integrates businesses processes across the front office and into the back office, offers a robust architecture for integrating applications and data, and leverages existing technology investments. The PeopleSoft Integration Broker provides prebuilt Enterprise Integration Points (EIP) that can retrieve data from legacy systems at runtime, unify and display the data, manipulate it, and send it back to the source.

  For example, insurance organizations can seamlessly integrate the solution to back office policy and claims management systems. This capability provides tremendous advantages for vertical industries in terms of solution deployment and cost, the ability to leverage existing technology, ongoing cost of ownership, and quality of customer service.

PeopleSoft CRM Communication Solution

The communications solution is a comprehensive suite of industry-specific business processes that enables wireline, wireless, broadband, satellite, cable, media, and content service providers to improve operational efficiency, increase average revenue per user, and retain loyal customers.

Business Processes for Communications

To address these opportunities, PeopleSoft offers the following targeted solution sets:

• Order Management for Communications

• Contact Center for Communications

• Partner Management for Communications

Order Management for Communications

To optimize margins, communications companies must configure complex products and services, process orders quickly and accurately, and accelerate service activation. Order Management for Communications delivers a comprehensive solution set for handling the order-to-cash process. It supports industry-specific needs such as convergent product and service bundles, subscription management, pre-order qualification, billing integration, billing account assignment and creation, dispute management, change orders, and phone number assignment.

This table displays the business processes targeted by Order Management for Communications and provides links to relevant PeopleBooks:

Contact Center for Communications

Contact Center for Communications allows communication organizations to enhance performance and control costs by delivering world-class service across multiple contact channels.

It includes support for industry-specific needs such as churn management and verification of SLAs and entitlements. PeopleSoft also provides a seamless front end to the complexity of legacy billing applications. This feature is critical for service providers, because on average, more than 70 percent of their incoming calls are account or billing related. Agents can see all a caller’s related accounts, view and update account information, view bills and bill information, and handle charge disputes. PeopleSoft’s prebuilt billing integration reduces implementation costs and speeds return on investment.

This table displays the business processes targeted by Contact Center for Communications and provides links to relevant PeopleBooks:

Partner Management for Communications

Partner Management for Communications enables enterprises to collaborate with partners, including retail outlets, distributed content providers, or service resellers. As a platform to plan, execute, and manage partner programs, it supports processes necessary to model and profile partners, manage security, drive leads to third-party distribution channels, allow for agent activation of services, and allow partners to interact with an enterprise effectively.

This table displays the business processes targeted by Partner Management for Communications and provides links to relevant PeopleBooks:

PeopleSoft CRM Financial Services Solution

The financial services solution provides a comprehensive suite of industry-specific business processes that enables banks, brokerage firms, and insurance companies to increase profitability, improve market position, and create strategic growth.

Business Processes for Financial Services

To address these opportunities, PeopleSoft offers the following targeted solution sets:

• Multichannel Sales for Banking

• Contact Center for Banking

• Wealth Management

• Agent Sales for Insurance

• Contact Center for Insurance

Multichannel Sales for Banking

Multichannel Sales for Banking makes it possible to implement successful customer acquisition and retention strategies, including planning, designing, and executing multichannel marketing campaigns that are relevant, timely, and compelling. The solution enables customers, branch employees, and contact center agents to easily access product catalogs and information, select and configure product options, submit new account applications, track trailing documents, and more. Prebuilt integration allows a financial institution to more easily tie the financial services solution to legacy account management applications.

This table displays the business processes targeted by Multichannel Sales for Banking and provides links to relevant PeopleBooks:

Contact Center for Banking

Contact Center for Banking provides a robust, flexible customer data model that gives financial institutions a complete understanding of a customer’s total value to the organization. It provides comprehensive service capabilities that include easy-to-use branch scripting, a robust solution advisor, advanced search tools, and a knowledgebase for fast problem resolution. In addition, it enables both customers and employees to execute various banking transactions easily.

This table displays the business processes targeted by Contact Center for Banking and provides links to relevant PeopleBooks:

Wealth Management

The Wealth Management solution set provides tools and technology to develop and build strong customer relationships with clients in both the high-net-worth and mass-affluent categories. Its comprehensive contact management, referral management, and risk management functionalities enable advisors to grow assets under management, increase profits, and improve customer loyalty. It also enables them to plan, create, and manage client sales and service goals.

This table displays the business processes targeted by Wealth Management and provides links to relevant PeopleBooks:

Agent Sales for Insurance

Agent Sales for Insurance improves agent and broker satisfaction and loyalty through information sharing, elimination of bottlenecks, and reduced errors. It provides rich functionality for leads, opportunities, forecasts, quotes, orders, territory management, and more. As a platform to plan, execute, and manage partner programs, it includes the processes necessary for modeling and profiling partners, managing security, supporting self-service quoting on behalf of customers, and allowing effective partner interaction.

This table displays the business processes targeted by Agent Sales for Insurance and provides links to relevant PeopleBooks:

Contact Center for Insurance

Contact Center for Insurance enables health, life, and property and casualty providers to retain good customers by ensuring that they experience convenient, consistent, and positive service. Its 360-degree customer view unifies legacy data—including policy, claims, and billing information—and helps prioritize services and resources for the most profitable and important customers. The solution also includes support for insurance-specific service and fulfillment requests, such as capturing first notice of loss, updating policy information, checking claims status, and more.

This table displays the business processes targeted by Contact Center for Insurance and provides links to relevant PeopleBooks:

PeopleSoft CRM Government Solution

Worldwide, government agencies are facing pressures on a number of fronts. Due to the private sector’s CRM initiatives, the public has come to expect a much higher level of convenience, availability, and reliability from government products and services. At the same time, governments of all sizes are burdened with shrinking budgets, disconnected systems, and business processes that make it impossible to share information, leverage efficiencies, and meet constituent expectations. The answer is industry-specific business processes that will enable governments to create constituent-focused organizations, improve service levels, and operate with greater efficiency.

Business Processes for Government

To address these opportunities, PeopleSoft offers the following targeted solution sets:

• Revenue Management for Government

• Constituent Services for Government

• Constituent Outreach for Government

Revenue Management for Government

Revenue Management for Government provides an integrated solution for multichannel order processing that is designed for agencies that are focused on revenue-generating activities such as taxes, licenses and permits, educational materials, tourism, and more. It enables agencies to plan and manage targeted campaigns for relevant offers by providing a robust and configurable product data model, along with capabilities for guided selling, product configuration, and order capture.

This table displays the business processes targeted by Revenue Management for Government and provides links to relevant PeopleBooks:

Constituent Services for Government

Constituent Services for Government gives intake workers, case workers, practitioners, and service delivery workers tools to deliver personalized service and keep support processes running efficiently. A variety of problem-solving tools provided within a multichannel framework improve contact center productivity, while integration with leading geographic information systems helps manage field service organizations with greater efficiency.

This table displays the business processes targeted by Constituent Services for Government and provides links to relevant PeopleBooks:

Constituent Outreach for Government

The Constituent Outreach for Government solution set offers a full range of applications that allows you to plan, execute, and manage coordinated outreach and awareness campaigns across a wide range of contact channels, including direct mail, email, web, and phone. The system allows you to develop and manage event-driven, personalized dialogs with your constituents that provide consistent communications over time and across channels. It also provides state-of-the-art capabilities for segmentation, list management, campaign workflow, campaign optimization, and campaign effectiveness reporting.

This table displays the business processes targeted by Constituent Outreach for Government and provides links to relevant PeopleBooks:

PeopleSoft CRM Energy Solution

The energy solution is a comprehensive suite of industry-specific business processes that enable regulated utilities, distributors, and retailers to gain a complete understanding of every customer—resulting in greater revenues, cost containment, and competitive advantage.

Business Processes for Energy

To address these opportunities, PeopleSoft offers the Contact Center for Energy solution set.

Contact Center for Energy

To thrive in a highly competitive environment, energy companies need to create a customer-centric approach to support interactions. Contact Center for Energy delivers this capability through a real-time, 360-degree customer view. The solution includes support for industry-specific needs, including robust premise management functionality that allows companies to model the relationships between customers, premises, service points, and assets. It enables organizations to improve customer service through account management and bill presentment capabilities and automates field service order management to ensure that problems are handled promptly and correctly.

This table displays the business processes targeted by Contact Center for Energy and provides links to relevant PeopleBooks:

PeopleSoft CRM High Technology Solution

CRM for High Technology is a comprehensive suite of industry-specific business processes that enable software and consumer electronics companies to build profitable, long-term customer relationships, improve operational efficiencies, and leverage service as a differentiator and revenue driver.

Business Processes for High Technology

To address these opportunities, PeopleSoft offers the following targeted solution sets:

• Multichannel Sales for High Technology

• Contact Center for High Technology

Multichannel Sales for High Technology

This table displays the business processes targeted by Multichannel Sales for High Technology and provides links to relevant PeopleBooks:

Contact Center for High Technology

This table displays the business processes targeted by Contact Center for High Technology and provides links to relevant PeopleBooks: