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									                                                   Calamos Investments

                                                                                                                                                                  C a s e
                                                   A Sound Investment

                                                                                                                                                                  s t u d y
Customer Details                                   selecting a CRM system is a major It strategy decision for most
Calamos Investments
www.calamos.com                                    companies, and as such, it can be pressure-filled. Finding the right
                                                   system to fit the company’s needs, implementation timeline, and
Country or Region
Primarily North America                            budget can be difficult. and sometimes, even when a company
                                                   thinks it has found the right solution, outside factors intervene that
Financial Services/Investment Management           prevent full project success.
Customer Profile                                   This was the situation Calamos Investments           Close alignment to the
Calamos Investments is a diversified global        found itself in 2000 when, just eight months         Company’s Needs
investment manager with a proven record            after purchasing the Janna customer
                                                                                                        After closely evaluating eight vendors, the
of delivering top-tier results across a range      relationship management (CRM) system—
                                                                                                        Calamos Investments team selected Pivotal
of strategies. Through individually managed        before Calamos had even implemented the
                                                                                                        CRM for Financial Services. Pivotal CRM
accounts and mutual funds, Calamos                 system—Janna was acquired by Siebel.
Investments provides investment management                                                              came out ahead because of its technology
                                                   The company opted to go ahead with its
services to institutions and individuals around                                                         fit (the company operates a Microsoft®
                                                   implementation, launching Janna in April of
the world.                                                                                              .NET environment), the financial stability of
                                                   2001. In 2003, Siebel announced that Janna
                                                                                                        the company, and its close out-of-the-box
Business Situation                                 would be “sunset,” or gradually retired, and in
                                                                                                        alignment to Calamos Investments’ needs.
After Siebel purchased and sunset Janna,           2005, it ended all support for the product.
Calamos Investments’ former CRM system,                                                                 A turning point in the evaluation process
                                                   The team at Calamos Investments recognized
Calamos sought a CRM system that could be                                                               occurred when Stuart attended a Pivotal
quickly implemented with minimal customization,    that an unsupported product with no prospect
                                                                                                        Financial Services User Group meeting in New
on time and on budget, while also offering long-   of patches or upgrades could not serve its
                                                                                                        York in September 2005. As she watched a
term flexibility.                                  needs for long. However, they saw a switch
                                                                                                        succession of financial services companies
                                                   to Siebel as costly, time consuming, and
Solution                                                                                                present their Pivotal CRM success stories,
                                                   too complex in terms of the company’s
Calamos Investments selected Pivotal CRM
                                                                                                        Stuart noted vast differences between the
                                                   customization needs. Wary of the stability of
for Financial Services based on its technology                                                          ways in which each company was using the
                                                   smaller vendors after their experience with
fit, vendor stability, close alignment to the                                                           system. This was live, real-world evidence
                                                   Janna, the IT team began extensively piloting an
business, and customizability.                                                                          that Pivotal CRM was what it claimed to be:
                                                   open-source solution, feeling that building out
                                                                                                        a robust system that could be easily customized
Benefits                                           their own features on an open-source platform
                                                                                                        to meet individual companies’ distinct
• Offers a 360-degree view of the client that      was the only way to get the custom, flexible
                                                                                                        business requirements.
  promotes more knowledgeable interactions         features the company required.
  and uncovers new opportunities                                                                        “At that point in time I knew that this was the
                                                   It was then that Carolyn Stuart, Calamos
• Allows cross-functional account servicing and                                                         right CRM solution for us,” Stuart said. “I knew
                                                   Investments’ Vice President of IT and Head
  broader collaboration between departments                                                             that with Pivotal CRM, we were going to be able
                                                   of Business Analysis, first heard about Pivotal
                                                                                                        to be customized and flexible, and that they
• Optimizes efficiency and enhances                CRM for Financial Services. Learning of its
  customer service
                                                                                                        were going to continue to bring the financial
                                                   industry-tailored features, Stuart decided to give
                                                                                                        services products forward and enhance them in
• Enables the firm to support the varied           CRM vendors another chance, embarking with
                                                                                                        the future.”
  needs of multiple products and diverse           her team on a full-scale RFP-based evaluation
  lines of business                                process to make sure all options were explored.      “We evaluated a wide variety of CRM
• Gives executive management the insight they      This time, though, the company had very              alternatives, including open source and
  need to drive the business effectively           stringent expectations—there had to be little to     on-demand,” said Stuart. “In the end, we
                                                   no chance of the vendor being acquired, and          chose Pivotal CRM because of its focus in the
                                                   Calamos Investments had to be certain the            financial services industry and its reputation
                                                   project would come in on time and on budget,         for success earned with many of our peer
                                                   or there was a strong possibility that the project   companies. Through this extensive review
                                                   would be called off altogether.                      process, we determined that the other CRM
                                                                                                        solutions could not effectively support our
                                                                                                        financial services industry requirements, nor
                                                                                                        could they be easily tailored to match our
                                                                                                        unique business practices.”

                                                                                                                                       Pivotal CRM | Case Study
               And Calamos Investments’ needs were indeed unique.                     love the software,” said Stuart. “He told me he’d never before
               Ranked by Crain’s in 2005 as the second-fastest-growing                trained people and had them say, ‘This is fabulous. This is
               firm in the Chicago area based on compound annual growth               fantastic. I just love this system.’”
               rate, Calamos Investments provides professional money
               management services to major corporations, public and                  Pivotal CRM has offered the flexibility to accommodate the
               private institutions, pension funds, insurance companies, and          company’s diverse user needs in ways that increase user-
               individuals and is an investment advisor to open-end and               friendliness. For example, Calamos Investments was able to
               closed-end funds. This diversity of offerings has demanding            easily set up Pivotal CRM with custom “SmartPortal” interfaces
               implications for the company’s CRM system: it needs to                 that feature specialized data and configurations for each
               be able to support a wide range of products and clients                of its different sales groups: wholesalers, client relationship
               with different relationship dynamics—from high-net-worth               management, the private client group, and institutional
               individuals to institutional investors to financial advisors           services. In this way, users are only shown the data and
               themselves. With Calamos’ multiple channels of distribution,           features that are most relevant to their role.
               the CRM system needed to be able to manage both
               company- and client-centric contacts, and it needed to be              a single system with a Multitude of uses
               able to track activities and opportunities related to a contact        Calamos Investments has thus far rolled out the Pivotal CRM
               separately to avoid conflicts between the different channels,          system to more than 150 internal users as well as 20 remote
               whose advisors work both independently and collaboratively,            users who access the system via laptop and BlackBerry.®
               depending on the business arrangement. Furthermore, the                The variety of users working with the CRM solution points
               system had to be able to integrate data from multiple systems,         to its value and versatility; users include employees across
               including the company’s portfolio accounting system, mutual            executive management, wholesalers, client relationship
               fund database, and fulfillment system. Pivotal CRM met all             management, institutional services, the private client group,
               of these needs.                                                        client services, and marketing. And the company has plans
                                                                                      to expand the number of users accessing Pivotal CRM over

“   I knew that with Pivotal CRM, we were going to be
    able to be customized and flexible, and that they
                                                                                      coming months.

                                                                                      Calamos Investments’ 199 users don’t just represent a wide
                                                                                      cross-section of the company’s departments and business
    were going to continue to bring the financial services                            lines; they also represent the diverse utility of the Pivotal
    products forward and enhance them in the future.
                                                                                      CRM system. All of the users input contact information to the
                                                                                      system on a daily basis, but beyond that, their uses of the
                                                                    Carolyn Stuart    system branch out in a number of different directions:
                                 Vice President of IT and Head of Business Analysis
                                                              Calamos Investments     • The company’s wholesalers are using Pivotal CRM to
                                                                                        inform, schedule, and record their conversations with
                                                                                        financial advisors at multiple firms.
               Rapid Implementation and High user adoption
               Calamos Investments also required a system that could be               • The private-client group is using Pivotal CRM to provide
               implemented quickly. The company began its Pivotal CRM                   service to their high-net-worth clients and easily look up
               implementation project in April of 2006, and despite complex             their clients’ portfolios, interests, and past interactions with
               customization requirements and multiple integration points,              the firm.
               the company was able to complete the implementation rapidly            • The institutional services group is using Pivotal CRM to
               and launch in August 2006—with no hitches.                               track and manage their contacts, activities, opportunities,
                                                                                        and the RFP process.
               “Pivotal CRM is now a core system for us that has been
               quickly tailored to model the business practices that make             • The client relationship management team is using Pivotal
               us unique in the industry,” said Stuart. “We have seen                   CRM to manage their interactions with clients and firms,
               tremendous user adoption and are very pleased with the                   as well as strategic partners within these firms.
               results to date.”                                                      • The marketing group is using Pivotal CRM for
               The quick uptake from users is attributable to Pivotal CRM’s             campaign management.
               intuitive, user-friendly interface. In fact, user-friendliness and     • The client services team is using the system to quickly
               familiarity of features were other important criteria for Calamos        access and update client information in response to
               Investments; they wanted to ensure users could make the                  incoming calls, enabling them to log the call and to answer
               switch from the old system with minimal impact. Effective                a wide variety of inquiries knowledgeably.
               user training has also contributed to user adoption. Calamos
               started with on-site training from Pivotal CRM trainers,               With Pivotal CRM, tools and data models tailored to each
               and the company’s in-house trainer has continued the                   of these lines of business and user groups are all available
               process internally.                                                    through a single, centrally administered CRM infrastructure.

               “Our trainer, who has worked on a lot of different system              Thanks to the integration to the company’s portfolio
               implementations, told me that it’s been the easiest                    accounting system, users can check on the size or value of
               implementation and the easiest thing to train and support              clients’ assets or the value of assets under management that
               because of the fact that people truly do love the system and           a particular partner or advisor has brought in. They can also
                                                                                      see specifically, for example, the mutual fund contributions
                     and redemptions that have been brought in by a partner or                a true understanding of the Industry
                     advisor. They can use the fulfillment center to follow up on             Ease of customization wasn’t the only facet of Pivotal CRM
                     client or partner requests and automatically send out any                reporting that impressed Stuart. “One of the things that
                     type of marketing or follow-up materials using Pivotal CRM.              amazes me about Pivotal CRM is the ability to take the
                     Partners and employees can log in to access information                  information at, for example, a financial advisor level and roll it
                     through the company website; they are authenticated                      up to the branch, regional, and even firm level. It shows that
                     against the Pivotal CRM system to ensure that they have                  the Pivotal CRM team really understands how, for example, a
                     authorized access.                                                       wirehouse is structured,” she said. “It means you can provide
                                                                                              executive management with summary information that lets

“   We chose Pivotal CRM because of its focus in the
    financial services industry and its reputation for
                                                                                              them really understand where they’re deriving business, where
                                                                                              there are gains, and where there is the potential for up-selling
                                                                                              and cross-selling, so that they can really drive the business.”
    success earned with many of our peer companies.
                                                                           Carolyn Stuart
                                        Vice President of IT and Head of Business Analysis
                                                                                              In the end, it’s that deep understanding of the financial
                                                                                              services industry and its processes that truly sets Pivotal CRM
                                                                                              and its team apart and has enabled Calamos Investments to
                                                                     Calamos Investments      derive real value. “When we looked at other CRM packages
                                                                                              on the market, none of them were truly tailored to financial
                     At the company’s upper levels, the executive management                  services the way Pivotal CRM is,” said Stuart. “If you’re on the
                     team is using Pivotal CRM to roll up information about all of            institutional side, Pivotal CRM has a tailored solution. If you’re
                     these disparate activities and get a company-wide view of                on the retail side, they have another tailored solution. And the
                     opportunities, sales force activities, and what is happening             specialized tools and data models for all of these different
                     across the firm’s diverse lines of business.                             lines of business are provided on a single CRM platform with
                                                                                              centralized administration and reporting.
                     a 360-degree View of every Individual
                     The ability to collaborate effectively when working as teams             “With some vendors, you spend a lot of time teaching them
                     has also been a major benefit of using Pivotal CRM for                   your business,” Stuart concludes. “With Pivotal CRM, it’s clear
                     Calamos Investments. For example, using Pivotal CRM, the                 they already know it.”
                     institutional services group can see at all times where the
                     company stands in the RFP process, which other people have
                     to get involved, and what each person has to do next. They
                     use the system to assign each other tasks, so that everyone is
                     aware of their responsibilities, what they should be doing, and
                     who they should be contacting.

                     “Among the greatest benefits that we have received from
                     Pivotal CRM is that everyone truly has all the information
                     they need at their fingertips; they’ve got full knowledge,” said
                     Stuart. “They don’t have to look at multiple systems. They
                     know when they talked to this person last, what activities
                     they’ve had going on with them, if they owe them anything,
                     what they talked about in the past, any type of business
                     that they potentially have going, and what’s in the pipeline.
                     They also understand the relationship structure: they know
                     whether the person works alone or as part of the team, team
                     members, and what activities have taken place with the
                     individual or the team. So literally they’ve got a 360-degree
                     view of every individual, which is tremendously beneficial.
                     They’re never walking into any situation without the knowledge
                     they need. It’s made them smarter, and it’s allowed them to
                     talk to people more intelligently, knowing more about what
                     their needs are.”

                     Pivotal CRM’s reporting functionality has also been very
                     beneficial to Calamos Investments. “Reporting has been
                     so easy and flexible,” said Stuart. “On one occasion a
                     salesperson needed to do a custom report that wasn’t
                     supported by the system. Within a couple of hours, a
                     programmer had added some logic and built it in. They
                     couldn’t believe that it was that easy for a developer to
                     provide such a benefit so quickly.”

    take the Pivotal step with Pivotal CRM for Financial services
    To learn more about how Pivotal CRM for Financial Services can help your organization grow existing business, attract new clients, and improve
    client service, call us today at +1 877-PIVOTAL (+1 877-748-6825) or visit us at http://www.pivotal.com/financialservices.

    Copyright © CDC Software 2007. All rights reserved. The CDC Software logo and Pivotal CRM logo are registered trademarks and/or trademarks of CDC Software.

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