The Risk Management Society (RIMS) is a not-for-profit organization dedicated to fostering progress in the practice of risk management. Founded in 1950, RIMS brings education opportunities, professional development, and networking to over 11,000 risk management professionals in over 60 countries.
The Risk Management Society’s goals include the development and delivery of risk management through leadership, resources and tools, as well as maintaining an engaged staff and volunteer leadership. In addition, one of the company’s founding goals includes maintaining progressive technologies and operations. With over 50 employees, the lack of technology caused significant communication problems whenever the sales team wanted updates on shared account activity. RIMS had to overcome their technology limitations sooner than later, in order to achieve their primary objectives.
Prior to implementing a CRM/ERP solution, the company depended on Excel, and their sales process was negatively impacted as a result. “We have siloed divisions under the “sales umbrella” and we were not able to keep up with each others’ activity with our shared accounts. Lack of communication and accountability were major obstacles. We had no visibility and transparency within our sales team. Lack of effective reporting and pipeline management suffered,” said Areti Fonseca, Business Development Manager, RIMS.
Using manual methods of recording and sharing information, the organization fell behind in their daily data upkeep, which caused problems in their workflow and operations — and compromised their annual revenue. “The process was antiquated and time-consuming. We had too much customer activity and data to update on a daily basis, to keep up. Due to our lack of CRM, we had to investigate orders and re-orders. There was a disconnect with our accounts receivables manager that needed to be addressed every billing cycle,” said Areti.
The Mothernode Solution
Relying on Excel and their previous practices also hampered the Risk Management Society’s customer service capabilities, as expressed by the Business Development Manager. “There is only so much one person can remember to do, and when you have over 100 accounts to follow up with, a CRM is an absolute must in best practices,” said Areti.
The Risk Management Society implemented the Sales Team Edition of Mothernode in 2014. The company now uses Dynamics for accounting, while importing Mothernode invoices into their accounting system. The Business Development Manager depends on the CRM component of Mothernode the most, and when asked what she likes better about Mothernode than their previous CRM or software solution, Areti replied, “[I liked] the CRM, invoicing and reporting capabilities.”
Benefits and Results of Using Mothernode
The key to solving the company’s previous challenges was making the final decision to fully deploy and implement Mothernode. “As a team we communicate openly and efficiently. It is easier to solve our accounting mysteries. Our customer service has improved because we are not letting clients fall by the wayside. Mothernode has provided the tools we need as a sales team to communicate and produce goals successfully. The Mothernode team has been willing to train and assist us along the way. They have been a huge asset and a wonderful team to partner with,” said Areti.
When asked which Modules and Features of Mothernode have had the most impact on improving their internal business processes, Areti quickly named Ready to Invoice, while Customer Accounts and Leads & Opportunities affected their customer service and delivery model the most—in a positive way. And compared to their past methodologies, Mothernode has helped increase their sales conversions by 75 percent, while annual revenue has increased by 50 percent. “This is definitely a huge improvement for us,” said Areti.
Benefits and Results (Recap)
- 75% improvement in productivity
- 100% improvement in internal collaboration
- 100% increase in information accessibility
- 100% improvement in the sales process
- 50% improvement in sales conversions