Costa Rican bank adds sales data transparency with Oracle Cloud CX

Banco Nacional de Costa Rica is the Central American nation’s largest bank, with 6,000 employees and more than 170 offices across the country. One of its missions is to make all of its transactions digital within the next few years. The first step is to give bank executives a clearer, up-to-date view of sales opportunities.

Given its experience using on-premise Oracle Siebel CRM applications, it was natural for Banco Nacional de Costa Rica to consider Oracle for its cloud upgrade—but the bank also looked at Salesforce.com and Microsoft applications. Ultimately, its decision to go with Oracle Sales came down to customer service: The Oracle team’s initial responsiveness convinced the bank that it would receive a higher level of support and care during the implementation and beyond.

“Only Oracle offered us the option of starting a pilot immediately,” says Roberto Lobo Ramírez, a business intelligence analyst at the bank.

Prior to Banco Nacional de Costa Rica’s implementation of Oracle Sales, the bank’s front-line employees reported customer data to the organization’s general manager via spreadsheets, which would go through as many as five layers of review and consolidation before the data was made available to various stakeholders. Now all of that information is in a single location, updated in near real time.

Apart from real-time visibility, Oracle Sales’ integration with Oracle Eloqua makes it possible to create leads or flag cross-selling opportunities and send those updates directly to the executive in charge of the account. “We can also very quickly create an email for the client so that this becomes a potential opportunity that reaches the executive working with the client,” adds Ramírez.

Previous on-premise software implementations took the bank as long as five years. It took the bank only three months to implement Oracle Sales and onboard all of the bank’s executives, providing them with information on 20 different sales methodologies. For example, one bank executive was able to identify and close a US$4 million deal that was 90% complete at the time, helping the executive meet his sales goals.

To further streamline processes, the bank is using Oracle Intelligent Advisor to automate lead capture.  This new solution enables business clients to easily inquire about financial solutions via the bank’s website. The information collected by the dynamic Intelligent Advisor form generates a lead that is fed into Oracle Sales. Bank executives can quickly follow up and manage these leads, and have been converting leads into opportunities at an impressive rate of five to one. This has helped the bank dramatically increase sales, even during periods when its offices were closed or clients were working from home during the global pandemic.

Banco Nacional de Costa Rica is changing the way it communicates with both its corporate and individual customers, replacing email with Oracle B2B Service to manage service requests. This has enabled the bank to improve compliance while ensuring that inquiries to its contact centers, as well as in person at its branches, are handled efficiently and effectively, delighting customers with proactive service.

“Oracle has become a unifying tool for our business management,” says Ramírez.