Absa has implemented Prime@Vantage, the multi-channel direct marketing (DM) automation solution from Bytes Business Solutions. The project includes the re-engineering of the bank`s direct marketing business processes and represents a multimillion-rand investment by the bank.
Cornie Victor, GM at Absa Customer Information Management, says: "The banking sector is highly competitive and our ability to communicate using the most efficient and appropriate channels to banking clients creates competitive advantage.
"Absa led the market with the first banking implementation of marketing technology three years ago. Now Prime@Vantage will underpin the integration of our customer-centred strategy to reach different market segments through the appropriate channels, offering them the products and services they need."
Absa`s evaluation of different offerings was thorough and rigorous. The bank researched international best practices before opting for the European model, which is more closely aligned to South African banking than the American model. This was followed by invitations to tender, with a stringent qualification process.
Bytes Business Solutions was awarded the contract following a challenging proof of concept. Bytes Business Solutions faced several challenges, says Mark Neethling, practice manager at the company`s Customer Intelligence division.
"Organisational changes during Absa`s business re-segmentation and the re-alignment of its business units meant continuity had to be managed carefully. Absa was also re-architecting the group data warehouse, which meant we had to create a separate marketing data mart for the Absa Direct Marketing Unit."
The system was rapidly rolled out after the re-engineering of business processes. It now provides Absa with a fully integrated customer communications history, obtained from its "business-to-individual" multi-channel communication capabilities.
Prime@Vantage supports the selection of clients within segments, planning and execution of direct marketing initiatives and includes a closed-loop process to measure response.
Benefits have included greater productivity and a smaller team to deliver against requirements. Targeted marketing means resources and time are not dispersed and wasted on a "one-size-fits-all" approach. Absa and Bytes Business Solutions monitor progress through pre-defined key performance indicators.
"Bytes Business Solutions` consultants are experienced in direct marketing, adding value and working closely with our marketing people. This results in process re-engineering fitting our marketing requirements, rather than forcing them to fit in with the software," comments Victor. "The speed of implementation was particularly impressive, and we now have an ongoing relationship for best practice consulting with Bytes Business Solutions."
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