Academic journal article ABA Banking Journal

Customer Relationship Management for Commercial Lending: It's Pivotal

Academic journal article ABA Banking Journal

Customer Relationship Management for Commercial Lending: It's Pivotal

Article excerpt

Commercial lending is the largest profit center in most wholesale banking businesses. That's not surprising, when you consider the sums involved. But what is surprising is that most banks allow so much potential profit to slip away from this crucial part of their business. The problem stems from a disconnect between traditional ways of doing business and the pressures of today's competitive landscape--with new players and technologies to contend with.

The Challenge: Keeping the Personal Touch in the Information Age

It's as true today as it was 20 years ago: Success in commercial lending depends on developing deep, trusted relationships between individual salespeople and their customers. Those relationships remove roadblocks and keep the wheels of commerce rolling over the long haul.

But the old-fashioned tools for managing those relationships--the telephone, the conference table and the notepad--are no longer sufficient in the digital age. It's difficult enough for salespeople to keep track of all the new funding strategies and information sources that have emerged. For the organization as a whole, it's almost impossible to see the larger picture--let alone to manage accounts for maximum efficiency and profitability. And if a salesperson leaves the company, many years' worth of specialized account information can literally walk out the door.

The problem for today's commercial lenders is too much information, in too many formats and too many places. Pivotal Corporation has the answer.

The Solution: Managing Information to Build Stronger Customer Relationships

Pivotal has applied the techniques of Customer Relationship Management (CRM) and Sales Force Automation (SFA) to the unique needs of the financial services industry. The result is the Pivotal Commercial Lending Solution, * a CRM/SFA solution that lets your salespeople maintain the familiar and profitable "relationship banking" model--while capturing all the information your organization needs to gain a unified, holistic view of all its commercial customers.

With the Pivotal Commercial Lending Solution, your sales force maintains the personal touch that fosters good customer relationships. At the same time, they become part of a true sales team, with access to a full knowledge base of the most current customer information. There's no more need to pick brains and assemble information scattered among different systems in order to clearly see where a customer relationship has been, and where it's going. Instead, all the customer knowledge you need is instantly available, so your marketing, sales and service teams all have the strategic intelligence they need to maximize opportunities at every point of customer contact. …

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