Salesforce for a Financial Institution – A Case Study

UncategorizedSalesforce for a Financial Institution – A Case Study

Salesforce for a Financial Institution – A Case Study

Salesforce CRM Cloud

The Customer

Our team of proficient developers helped a financial institution in automating their business processes by providing a holistic view of all of their customer data, tax regulations, etc and an easy means to manage all of their business requirements.

The Challenge

The client approached us with data on their legacy system including their client’s profile data, household data, to name a few, and difficulty managing their business processes. Being, an eminent financial company, they had to handle large deposits, and monitor money lending/debt returns to/from its customers, along with planning investments for corporate companies. The company had to maintain and manage all the data related to commercial banking services to investment banking services in an efficient way for the growth of their company and also, for the growth of their clients.

The customer was wasting their most important resource, time in manual data entry which was prone to frequent errors and as well as led to data duplication. As all of their data was not available on a single platform, the client was spending more time in data processing and reaching an actionable insight. And, as the company could not provide real-time insightful data to its customers, because of their outdated legacy system, they were losing their clients and in turn incurring losses. This was a huge no-no for the company.

Their Requirements: A financial services software solution

Our client wanted seamless data migration from their existing legacy banking software and integrating it into a scalable cloud-based Customer Relationship Management (CRM) system along with data cleansing.

The customer wanted Infomaze to choose an effectual CRM system to manage their clients as well as the prospective clients, contact information, account management and obtain predictive sales forecast, to help provide immediate assistance to their clients and ultimately an excellent end-user experience by directly involving them in investment decisions.

Integrating their Jira ticketing tool to the new CRM system to stay ahead in responding to the tickets raised.

Further, productive automation of data aggregation in the CRM system once data is entered in the banking software to prevent data re-entry along with auto-detection of discrepancies, be it data reduplication or missing data in the end, either in the banking software or in the new CRM system.

Technologies and tools used to provide the solution

Our dedicated developers used ETL technology along with the Salesforce financial service cloud solution as its choice of BI tool to provide a matching database-schema between the new salesforce customized CRM cloud system along with their legacy banking software system. Using Salesforce open source code, we integrated the Jira ticketing tool that our client had been using to track and manage raised tickets.

The Results

Infomaze, with its expertise, chose the best BI tool for the client to provide a financial services software solution, Salesforce for financial advisors. Our dedicated developers migrated the data from the client legacy system and provided a successful Salesforce implementation with almost no time.

The Salesforce cloud integration with our client legacy banking software allowed our client to achieve process automation in data collection, be it stock details, tax regulations or asset information and easy analysis of the above data using the Salesforce financial reporting software. This not only saved time but also helped them in making rock-solid decisions that induced an exponential growth in their company.

With our customizations in the Salesforce CRM cloud, the client received automated error-notifications when the software recognized any discrepancies between the client banking software data and the data in the new CRM system.

Our developers set custom Key Performance Indicators (KPIs) considering the client business pipeline that allowed the Salesforce management system to predict the sales forecast to help them make useful business decisions accordingly and to motivate them to reach their goals at all times.

Also, Jira integration with the Salesforce CRM cloud allowed our client to respond to all the tickets being raised in real-time. We customized Salesforce CRM to provide task prioritization reminders according to the client financial business needs which lead to better client relationships and an increase in their revenue in the end.

Overall, our client benefited hugely with our services and the solutions that we provided along with Salesforce implementation training with a 100% user satisfaction.