Pivotal CRM Allianz Dresdner Asset Management - case study


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How one of the first CRM initiatives in the UK Investment Management sector has helped Allianz Dresdner Asset Management to gain greater visibility of both its Institutional and Retail clients’ activity leading to increased sales performance, highly targeted communications and improved customer service.

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Pivotal CRM Allianz Dresdner Asset Management - case study

  1. 1. Allianz Dresdner How one of the first CRM initiatives in the UK Investment Management sector has helped Allianz Dresdner Asset Management to gain greater visibility of both its Institutional and Retail clients’ activity leading to increased sales performance, highly targeted communications and improved customer service. Company Overview Whilst most Asset Management firms manage all their Allianz Dresdner Asset Management (UK) Ltd is an asset investments in-house regardless of the type of fund, at Allianz management company with £5 billion under management Dresdner funds are managed using the most appropriate offering a broad range of products for both institutional and company within the Allianz Group. retail clients and their advisers. Summary The company is a member of Allianz Group, one of the world’s Recognising the rapid changes affecting the financial services largest asset management groups employing more than 750 sector caused Allianz Dresdner Asset Management to take a investment professionals in 27 locations across Europe, Asia and long hard look at how they were serving the needs of their the US. It has Euro 979 billion of assets under management clients – both institutional and retail. Today, using Pivotal (31/03/03). solutions, the company has far greater visibility of its individual client profiles and is in a stronger position to more accurately For institutional clients, Allianz Dresdner Asset Management align its investment products to its clients’ needs. As a result, delivers investment products including active equity. Drawing Allianz Dresdner Asset Management has achieved significant upon its global resources and presence in major centres around business efficiencies and is now in a position to offer a more the world, the company is ideally positioned to service the complete and highly personalised service to both its institutional complex needs of institutional investors. and retail clients. “We recognised the value that a highly responsive CRM Whilst the Institutional and Retail sides of the business continue system could bring to our business, enabling us to open up to operate as distinct client groups, business efficiencies – the lines of communication and interaction between, what particularly in the areas of sales and marketing - and increased were previously, distinct business information silos. productivity have been gained by using the Pivotal system to The Pivotal system has given us complete visibility of client identify opportunities to cross-market and cross-sell. In many activity and sales performance which has undoubtedly led instances, the higher end of the retail marketplace has become to increased sales productivity.” quasi-institutional with sales people sharing accounts across the Giles Hardy, Head of e-Business, Allianz Dresdner Asset Management distinct groups. For retail clients and IFAs (Independent Financial Advisors), In short, Pivotal has enabled Allianz Dresdner Asset Allianz Dresdner Asset Management brings together a distinctive Management to gain greater visibility into its overall client base network of investment platforms. Each platform has its own and, as a result, has enabled the company to realise tangible specialised area of expertise and dedicated resources. returns on its investment in the customer management system.
  2. 2. The Business Decision sales and marketing point of view, but also from a financial andIn early 2001, Allianz Dresdner Asset Management made the operational perspective.strategic decision to invest in a CRM system as their attention hadbeen brought to the fact that the company’s existing contact Having established the exacting business criteria for the newmanagement system could no longer support the demands of the system, the search was on to identify a suitable solution.business or the company’s IT infrastructure. The Decision to ‘Go Pivotal’Underlying business drivers affecting this decision related to the Having drawn up an in-depth business requirements document,rapid changes affecting the financial services sector. Increasingly Allianz Dresdner Asset Management commenced the search for aorganisations were shifting their emphasis, from a focus on suitable solution. The process commenced with comprehensiveproduct to a focus on clients. Factors such as increased desk-based research covering a broad range of potential vendorscompetition, regulation and the ability to offer a broader range from around the world totalling in excess of 50 companies. At theof products to an increasingly diverse and demanding client end of this first phase, the selection was narrowed down to 7portfolio forced the more astute organisations to seriously vendors, each of which were invited to tender for the project.consider their use of technology. In particular, their use oftechnology as a tool to more effectively and proactively manage Upon completion of the ITT process, 3 vendors including Pivotalcustomer relationships. Corporation were selected for further consideration. An exhaustive round of meetings involving selected Allianz DresdnerFocusing initially on the retail side of the business, with a heavy Asset Management Business Managers, future end-users of theemphasis on tracking and monitoring results from marketing new system, and IT professionals was conducted with eachprogrammes in a live environment and how leads were managed vendor. This series of meetings included on-site productthrough the sales cycle, a full business requirements summary demonstrations, submission of tender documents, detailed projectwas drawn up by a carefully selected project team. timelines, budgets and risk analysis. In order to mitigate the potential risks associated with implementing such a vital newFor Allianz Dresdner Asset Management, the requirement to business system, an extensive questionnaire was designed toimplement a CRM system was also underpinned by their need to enable the company to understand potential issues arising frommore efficiently address the needs of a highly competitive market. the implementation. Each vendor was then scored against aThe ability to conduct in-depth profiling and market intelligence rating system in order to give Allianz Dresdner Asset Managementusing external data feeds was paramount for the implementation valuable quantitative results on which to base the final decision.of the new system to be successful. Furthermore, the companyneeded a complete view of its target market, not only from a Pivotal technology was selected for the following reasons: • Flexibility of the system to meet the company’s Key Business Requirements business needs. • Single view, consolidated customer management • Ability to implement in a phased approach. system for retail & institutional clients. • Ability to customise and add new business modules. • Sales performance tracking & analysis. • Ease-of-use & acceptance by end-users. • Ability to conduct highly targeted, personalised • Low maintenance solution. marketing campaigns. • Analysis of business metrics relating to marketing As Giles Hardy comments, “It would have been an easy option to campaigns; response rates, fufilment lead times & go down the ‘off-the-shelf’ or packaged application route, but this costs, conversion rates, movement through sales cycle, would not have served the needs of our business well in the long customer retention rates. term. By working closely with the Pivotal team in the UK we have • Adherence to regulatory standards. been able to take a phased approach to the development and • Customisable solution adaptable to business needs implementation of a comprehensive CRM solution which we rather than prescriptive solution. expect to continue to serve our needs across both sides of our • Scalable and capable of evolving in line with changing business.” needs of business.
  3. 3. Phased Development & Implementation Leads to “The investment management business is very specific,Faster ROI detailed and highly complex. Due to the flexibility andA project team made up of key stakeholders was formed to customisation capabilities of Pivotal technology, we havecommence the development of the system. Considerable time been able to adapt the system to meet these needs. In itsand attention was given to gaining an understanding of exact own right, this demonstrates the flexibility that is inherentbusiness needs and processes required by the users of the system. in the Pivotal system.”In-depth interviews were conducted with key members of staff to Giles Hardy, Head of e-Business, Allianz Dresdner Asset Managementdetermine how the system could support them in their day-to-daybusiness. It was vital for the Pivotal solution to reflect Allianz ConclusionDresdner Asset Management’s specialist financial business As one of the first adopters of a comprehensive CRM system inprocesses and workflows rather than for the company to adopt the UK investment management industry, Allianz Dresdner Assetprescriptive business processes defined by the system itself. Management has gained a tighter hold over its business and reaped tangible business benefits as a result. By using Pivotal toIn this area, Pivotal technology proved to be highly flexible and more tightly integrate the company’s marketing and salescustomisable. Working alongside the company’s internal functions, Allianz Dresdner Asset Management has been able todevelopment team, Pivotal Professional Services transferred the create and sustain long-term, valuable and personal customernecessary knowledge and skill required to adapt the system to relationships.meet the specific needs of the business. As Giles Hardy comments, “We have definitely benefited from theUpon completion of the scoping study, system development new system. It has given us a far stronger ability to accuratelycommenced. The new system was required to operate in a Microsoft track, monitor and manage sales and marketing activities. Notenvironment using Windows 2000 Servers and SQL Server back- only does it give us a big picture view, but it also enables us toend. Development was conducted in 2 phases with primary focus drill down into specifics and has, without doubt, contributed to ouron the needs of the retail business sales and marketing teams overall sales performance.”followed by the institutional sales and marketing requirements.Particular emphasis was placed on the integration of the systemwith a number of 3rd party systems and data feeds and, in thisrespect, it was important to plan the integration schema in detail.By building an explicit integration module, using varioustechnology and Pivotal components, the development team wasable to significantly reduce the time taken to process highvolume, daily data feeds. Key Business Capabilities • Client segmentation, analysis & tracking.User Adoption & Rollout • Ability to quickly identify cross-selling opportunities.One of the fundamental reasons for the successful adoption of the • Accurate sales forecasting & sales pipeline visibility.new system was the fact that future end-users were involved from • Highly responsive lead fulfilment.the onset; at the point of vendor selection. At rollout, all users • Complete visibility of a client’s investment portfoliowere provided with general training on how to use the system. This across multiple products enabling single rather thanwas then followed up by 1-on-1 training to demonstrate the more multiple communications.in-depth features and functionality of the system according to • Accurate targeting and market segmentation for thespecific users’ needs. execution of marketing campaigns. • Reduced time-to-market for new productToday, the users of the Pivotal system span marketing, sales and introductions.fund managers, with new developments planned to increase theuser base as the system extends in support of the institutional sideof the business.
  4. 4. About Pivotal CorporationFor organisations around the world that need to integrate their More than 1,500 organisations around the world across amarketing, sales and service functions for more effective broad range of industry sectors have chosen Pivotal solutionscustomer management, Pivotal provides a suite of business as their business application platform of choice.applications that increase operational efficiencies, reduce costand enhance customer service. Pivotal customers include B&Q, CIBC, Centex Homes, Allianz Dresdner Asset Management, FPDSavills, HarperCollinsPivotal creates value for its customers by enabling them to Publishers, Hitachi Telecom Inc., Micro Focus, Macrovision,more effectively collaborate and share knowledge throughout NextiraOne, Pharmacia Corporation, Premera Blue Cross,the organisation by providing an open, flexible, customisable Regus, Royal Bank of Canada, Sharp Electronics Corporation,business application platform. Using Pivotal solutions, Southern Company, and Vivendi.organisations are able to more effectively market to, sell to andservice the needs of their prospects, customers, partners andsuppliers.Pivotal LocationsHeadquarters Regional OfficesCANADA (Corporate Headquarters) AUSTRALIA JAPANPivotal Corporation Inc Pivotal Australia Pivotal Japan858 Beatty Street – Suite 700, Level 20, Tower 2, Darling Park, Level 10 EBS Building,Vancouver, BC – V6B 1C1 201 Sussex Street, Sydney. NSW 2000 1-7-7 Ebisu-Nishi, Shibuya-kuTel: +1 604 699 8000 Tel: +61 (2) 9006 3367 Tokyo 150-002E-mail: info@pivotal.com E-mail: info@pivotal.com Tel: +81 (3) 5428 8394 E-mail: info@pivotal.comUK (International Headquarters) FRANCEPivotal Corporation Ltd Pivotal Corporation NEW ZEALAND475 The Boulevard, Capability Green, 94-96, rue Lauriston, 75116 Paris Pivotal New ZealandLuton, Bedfordshire. LU1 3LU Tel: +33 1 44 34 46 00 Level 17, Tower 2,Tel: +44 1582 406650 E-mail: info-france@pivotal.com 55-65 Shortland Street, AucklandE-mail: info-intl@pivotal.com Tel: +64 (9) 306 2877 GERMANY E-mail: info@pivotal.com Pivotal GmbH Artemis Haus, Landsberger Str. 155, POLAND 80687 München Pivotal Polska Sp. z.o.o. Tel: +49 89 57959 166 ul. Radzyminska 326, E-mail: info@pivotal.de 05-091 Warszawa Tel: +48 22 771 79 42 ITALY E-mail: info@pivotal.pl Pivotal Italia Sede Legale, Lago Cacciari 1/B, SINGAPORE 43100 Parma Pivotal Singapore Tel: +39 0521 480901 6 Temasek Boulevard, E-mail: info@pivotal.it #41-04 Suntec Tower Four Singapore 038986 Tel: +65 6820 8850 E-mail: info@pivotal.com All brands and product-specific names are trademarks of their respective owners.