E-LOAN Uses Salesforce to Dramatically Improve Communications with Customers and Vendors

“Instead of a reactive system that only told them it was getting too late in the game, with Salesforce our loan consultants now get alerts that prompt them to proactively contact the right people at just the right time.”


Challenge
  • E-LOAN, one of the world’s leading providers of on-line home mortgages and other loans, sought a tool to help its loan consultants to proactively manage complex relationships, with timely communications with dozens of customers and vendors throughout the sales cycle
  • Based in Pleasanton, CA, E-LOAN consistently wins awards for Web excellence, customer privacy, and site safety
  • Because loan consultants manage literally dozens of customers for whom information changes constantly, it was difficult for them to stay on top of the necessary communications
  • To make sure the tool provided only relevant information, it was necessary to refresh the information continuously
  • In addition, E-LOAN wanted to improve its managers’ insight into the status of open loans and the activities of the individual consultants

Solution
  • E-LOAN became a SFA Enterprise Edition customer in mid-2005, with 150 licenses
  • E-LOAN used the Force.com API to integrate with a highly customized background client/server application that serves as its system of record; this system also updates Salesforce with near real-time transaction data
  • In Salesforce, E-LOAN set up business rules that use this data to trigger alerts to individual loan consultants; for example, an appraisal coming back might trigger a message to call the customer
  • E-LOAN also uses this data as the basis for doing sales team assignments and carving out pieces of the pipeline for individual consultants
  • To further help loan consultants to be highly efficient, E-LOAN integrated with Microsoft Outlook’s email and calendar functionality

Results
  • The Salesforce solution helps loan consultants to stay on point and on task; when they log in, they immediately see which key customers they need to reach out to and in which stage of the loan transaction
  • Because consultants always know whom to call to keep the process going, E-LOAN has been able to improve the entire customer loan experience
  • Streamlining the process led to more satisfied customers, allowing E-LOAN to enjoy 95% customer satisfaction ratings 
  • Managers are more proactive and productive because they can see the activities of individual loan consultants, including timeliness of completion, delinquent tasks, and aggregate use and adoption
  • E-LOAN plans to add task management capabilities and is evaluating adapting the current functionality for other business units
 
View All Snapshots