Working with Hewlett-Packard, ActionSystems is telling banks that install its software to expect a boost of profits within 120 days.
The two companies have established a "proven methodology for getting quick results" in customer relationship management, said Dawn C. Foster, executive vice president, chief consulting officer at ActionSystems.
The burgeoning science of "managing customers" involves assessing the profitability of individuals, identifying the best products to sell them, and educating the front line to recognize and act on these opportunities. In about 40 installations of its EnAct software during the last nine years, ActionSystems has never had a customer that did not achieve a 10% to 15% incremental profit improvement within the first year, Ms. Foster said.
ActionSystems is betting it can keep that record going, especially now that it has aligned with Hewlett-Packard to help it install the software. Their methodology emphasizes improving the sales skills of front-line employees, Ms. Foster said. "Reskilling at the point of contact is critical," she said. "To get results, you've got to change the culture."
Hewlett-Packard and ActionSystems charge $98,000 to assess a bank's readiness for the customer relationship management software. It costs $500,000 to $1.5 million to install, depending on the size of the institution.