The Business Challenge
Financial markets are known to be inherently volatile depending on many factors such as supply, demand and politics to name a few. This is the reason that fast, secure and reliable online service is a big differentiator within this space and improving back office capabilities is essential.
This organisation’s bespoke system which serves as their CRM and customer platform does not allow online payments. There is significant manual effort being expended across the team in order to process transactions accurately and compliantly.
Main challenges:
- The business is rapidly growing. Time to market new intuitive services is of the essence to differentiate against competitors.
- Developing the new service requires not only technology expertise but also profound understanding of the regulations, operations and engagement with trading partners.
- Downtime is not an option, market presence must be constant.
- Co-ordinating several 3rd party vendors is to be anticipated as the change will impact the business, software and infrastructure. This can easily add unforeseen time and expenditure. Without an in-house software testing team, tests in the context of meeting high business and technology standards is a massive challenge.
Key objectives:
- The data from the PMS needed to be enriched with all available related information from the CRM.
- All relevant information pertaining to the client needed to be accessible from within 1 screen.
- The information needed to be available near real-time.
- The performance of the PMS needed to be unaffected.
- Security should be in place to ensure that only relevant information was available and that any confidential or unrelated information was excluded.
Our Solution
This Investment Manager partnered with Synetec in order to deliver functionality to enrich and make available information that has improved the performance of their sales team. In the absence of a proprietary API, the data from the PMS was accessed through scheduled nightly reports.
Not only could the sales person view all relevant CRM information of the client, but also any transactions involving the client’s accounts and the valuation of their holdings.
Benefits
This system allowed the valuable data that was locked in the PMS to contribute to the success of the business as a whole. Initial indications are that sales have improved significantly with the sales team attributing the majority of that increase to this integration and the additional information at their fingertips.
