Pragmasys developed and implemented solution for institutional equity broking business which serves large mutual, pension and hedge funds. The objective of the CRM initiative was to have streamlined processes for client empanelment, corporate access and client servicing (sales). CRM application was envisaged as competitive advantage tool and not just a transactional system. It was aimed primarily at improving the client experience by using the right information at the right time there by increasing the revenues. The solution supported multi country, multi currency development in terms of keeping contact information up-to-date including interests in various sectors, regions and stocks. Extensive reporting was provided on current holdings / interests of the clients and related news, upgrades / downgrades for enhancing revenue opportunities. A complete integrated solution was implemented which had collated information from both Research platform and Trading Platform.
The project was executed in agile way as the processes were evolving and user experience was considered very critical for the success of the initiative. Short proofs of concepts were developed to get early buy in from the users on the user interface, navigation and process steps. Project execution was done in onsite-offshore model with initial requirements and blue printing done onsite in Singapore and offshore development from Pragmasys Pune center in India. Regular in person meetings for status updates and requirements workshops were conducted with client centers in India. Pragmasys team conducted blue print exercise and discovered challenges and associated impact on the business. Ome of the challenges that came were related to distributed information in the form of personal excel files, notes, outlook contacts blocking the view of senior management having severe impact on securing meaningful corporate access reviews, non uniform processes for client empanelment, client servicing, corporate access amongst others due to acquisitions, lack of integrated system to track the communication with the client contacts e.g. research report distributed, phone calls, emails, meetings, and inertia of users to work outside outlook and office.
Pragmasys designed and developed a solution based on Dynamics CRM that provided RCM client management team a true CRM tool with following competitive advantage. It helped end users to keep up-to-date contact information including interests in various sectors, regions and stocks, view of complete history of interactions covering research report distribution, report access, follow up calls, information on current holdings / interests of the clients and related news, upgrades / downgrades for enhancing revenue opportunities. Dashboards were built for end users with up-to-date information on client interests, holdings and trade history addressing the needs of senior management for meaningful corporate access reviews. All functionalities were delivered using outlook client for CRM.
Success of any enterprise project depends on combination of process, technology and user adoption. The agile methodology with short proofs of concept insured the user adoption and alignment of processes and technology. Business domain knowledge and deep product expertise of Pragmasys team helped the leading client in building competitive advantage and not just a transactional system.