Pivotal CRM Analyst-Investing in relationships by PivotalCRM


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									Investing In Relationships
Global asset management firm strengthens its client

                                                                                                                     a r t i c l e
services around the world with Pivotal CRM

Whether working with large organizations or one-on-one with
wealthy individuals, investment managers face the challenge of
delivering high-quality advisory services to their clients while also
building personalized and long-term relationships. Daily—even
hourly—they must deliver targeted advice to clients, based on
extensive research, at exactly the right moment. in this business,
relationships are everything.
One Pivotal CRM customer (name withheld for confidentiality reasons) provides a perfect example
of how customer relationship management (CRM) technology can help asset management
firms get ahead in this relationship-focused industry. A global investment management firm
headquartered in the U.S., the firm manages more than $65 billion in assets for its clients—primarily
large institutions from around the world.

Building relationships to last
As a long-term investor, the firm has to build lasting client relationships. Institutional clients today
outsource many of their investment decisions to trusted advisors, which is exactly how this Pivotal
CRM customer positions itself—as an advisor providing clients with asset-allocation strategies and
detailed reporting well beyond traditional fund-advisory services.

In the late 1990s, the firm was under substantial competitive pressure; the wake-up call came when
they lost a few significant long-term clients. Early in 2000, in response to these challenges, the
firm began re-tooling its CRM capabilities. The company’s head of client-services technology was
appointed to lead an ambitious project to develop a system that could connect all of the company’s
offices around the world and enable the company to provide better customer service. “Quality client
service can effectively double the client retention period in a down market," he notes. “There’s a
very practical side to making sure that our client service offering is carrying through a down market

At the time, the company was working with disparate legacy applications scattered around the
world. These systems were not web-enabled, reporting was extremely labor intensive, and the same
contact information was duplicated in multiple systems, so employees could only get a partial view
of a contact’s relationship with the firm through any one system. Contact integration was the most
immediate issue facing the company. “The firm often has complex client relationships with individual
and institutional clients. We absolutely needed to be able to mirror the complexity of the company’s
client relationships in the CRM system. The ability to have a single contact record for a client in the
CRM database is both strategic and tactical for us,” explains the head of client-services technology.
“Strategically, it lets us see all of the ways we relate to that person; tactically, it means that we don’t
have to maintain an address in dozens of places. I can’t overstate how critical this piece of the
solution was for us.”

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  Making The Connection
  By integrating Pivotal CRM with multiple systems, this Pivotal customer provides users with a central information hub and
  increases the value and utility of the system. Integration has allowed the firm to reduce errors and increase customer service
  without increasing expenses or headcount.
  The firm has multiple points of integration with their Pivotal CRM system, enabling a variety of functions:
  •	 Importing Prospect Data.
     Integrating data from Nelson Information allows the firm to view key prospect data through Pivotal CRM. Integrated URLs
     allow the user to link directly into the Nelson website for further information.
  •	 Updating Client Accounts.
     Every night, data from the firm’s account and transaction management system is imported into Pivotal CRM, enabling
     users to easily access account balances and other information.
  •	 Displaying Performance Data.
     Special .NET applications are linked to the Pivotal CRM system to perform complex calculations in real time and display
     performance metrics that can be viewed through the system’s client record.
  •	 Tracking Reporting Preferences.
     The firm integrates Pivotal CRM with their client report preference system, which compiles and sends out reports such
     as account statements. Information about which reports to create and for whom is imported from Pivotal CRM; after the
     reports are created and sent out, a copy of the report is then stored in the Pivotal CRM system so that users can see
     exactly what clients have been sent.
  •	 Supplying Website Content.
     The firm’s clients are able to log into a personalized self-service website that displays information furnished by the Pivotal
     CRM system. Client-services employees are also able to see what the client sees by accessing the website through
     Pivotal CRM.
  As the firm’s head of client-services technology notes, “Performance and client reporting are a key area for us and one where the
  Pivotal CRM system’s highly integrated and ‘integratable’ nature has served us well. The more that we can exchange data and
  integrate these systems, the more efficiently we can take on new business.”

Selecting the right System                                             experience, Pivotal CRM is ahead of competitive products in
Although technology enables the firm to consolidate and                terms of its web client and its web-facing aspects.”
share client information, the quality of the client experience is
not solely based on technology. The company’s business has             a Unified, accessible client View
a high number of customer touch-points, both during the sale           The firm has been evolving towards a model in which the
and during the client-service phases of the relationship.              organization can follow a consistent sales process globally
                                                                       and at the same time provide services at a regional level to
Together with the company’s CIO and head of client-services            suit the needs of the client—regardless of where the original
administration, the head of client-services technology was             sale took place or where the investment decisions are being
instrumental in implementing the Pivotal CRM system at the             made. According to the head of client-services technology,
firm. In selecting a CRM solution, he and his team opted for           accessing clients actively through the web using Pivotal CRM
a mid-market product because the firm had outgrown its                 now enables everyone involved with a client to be “on the
small-office platform for contact management. “We’re too big           same page.”
for stand-alone contact management applications, so Pivotal
CRM was one of the obvious vendors on our shortlist,” he               Pivotal CRM stores the master records for all of the firm’s
says.                                                                  clients and contacts. All of the updated daily valuations,
                                                                       account holdings, currency exchange rates, and other critical
The firm also engaged an independent consultant to                     data are integrated from the accounting system back into
conduct a product-comparison analysis. In the end, ease of             Pivotal CRM. “We’ve been able to build and extend these
deployment tipped the scales in favor of Pivotal CRM. “One             systems as we go without having to shut anything down,”
of the things we liked about the Pivotal CRM solution from             says the head of client-services technology. “The customer
the outset was that, being web-based, it is a much easier              experience has not been disrupted. We’ve also been able to
package to deploy than some of the other products we have              transition from using a separate web registration database to
seen, which is important for user acceptance,” says the head           moving directly to the Pivotal CRM system without forcing our
of client-services technology. “Pivotal CRM is a really strong         customers to create new accounts.”
product. It was our assessment at the time that Pivotal CRM
provided better integration than other vendors did. In our             Now that the CRM implementation is complete, the issues
                                                                       facing the firm have changed. Globalizing operations and
                                                                       improving operational efficiency are now priorities. The
                                                                       organization is extending Pivotal CRM into the client-facing
                                                                       parts of the business. “Some of our key client services
                                                                       functions take place out of [head office], but if we need to

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                 automate functions in one of our satellite offices, Pivotal CRM          all of the ancillary benefits our clients receive as part of our
                 becomes the glue that connects everything together,” says                investment strategies,” says the firm’s head of client-services
                 the head of client-services technology. “Client reporting is             technology. “This includes access to our research and the
                 principal among these functions.”                                        quality of our client services.”

                 Pivotal CRM is the central repository for client access to               investing in the Future
                 the corporate website; it is also the central interface for the          Over the past few years, the firm’s assets under management
                 company’s client reporting system. Relationship managers                 have increased from approximately 21 billion dollars to over
                 can see client or contact account records directly through               60 billion dollars. “During this period, we have only increased
                 Pivotal CRM and, on the other side, the entire history—                  headcount incrementally—on both the technical and client
                 everything that clients have received to date—is updated                 service sides of the business,” says the head of client-
                 on the company website, where clients can review it.                     services technology. “Pivotal CRM has been instrumental in
                                                                                          helping us accomplish this.”

“  One of the things that we are proudest of is that our
   Pivotal CRM deployment is truly global. Everyone
                                                                                          The client-services technology team has begun to create new
                                                                                          modules in Pivotal CRM for other areas of the business, such
                                                                                          as workflows to support cash-flow forecasting. Using this new
   comes back to the same system and it helps                                             capability, the firm can minimize the risk between the moment
   us ensure that our staff worldwide are properly                                        a client notifies the company they are going to be wiring funds
                                                                                          and the moment the money is invested.
   coordinated and sharing information—all of the
   things you could hope for.
                                                                                          “One of the things that we are proudest of is that our
                                                                                          Pivotal CRM deployment is truly global,” says the head of
                 “Performance and client reporting are key areas in which the             client-services technology. “Everyone comes back to the
                 Pivotal CRM system’s highly integrated nature has served us              same system and it helps ensure our staff worldwide are
                 well,” says the head of client-services technology.                      properly coordinated and sharing information—all of the
                                                                                          things you could hope for.” Pivotal CRM now integrates all
                 Using Pivotal CRM to deliver client reporting and services               of the company’s contacts, including contact information
                 is about more than just efficiency and service—it’s about                and activity from its field operations. Accessing vital client
                 competitive differentiation, an important goal for attracting            information—once an incredibly labor-intensive process for
                 and retaining clients on more than just portfolio performance.           the client-services group—now only requires a simple click of
                 “One of the things we hope we can distinguish ourselves on               the mouse.
                 is the quality—not just of our investment performance, but in

For more information, please visit www.pivotal.com or call +1 877-748-6825.
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