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Pivotal CRM Mellon Asset Management - case study

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“Pivotal provided the technology, experience and expertise to migrate and roll out the system very quickly. Following this successful initial footprint we are now expanding the use of Pivotal CRM …

“Pivotal provided the technology, experience and expertise to migrate and roll out the system very quickly. Following this successful initial footprint we are now expanding the use of Pivotal CRM through additional asset management groups.”

Stephen Johns.
Head of eBusiness.
Mellon Asset Management.

Published in: Technology

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  • 1. CASE STUDY: MELLON ASSET MANAGEMENT (MAM)The road to an integrated global contactmanagement system At a glanceKey challenges: “Pivotal provided the • 12 separate subsidiaries and 12 incompatible contact management systems technology, experience • Over 750,000 contacts and 480,000 disparate company records and expertise to migrate • Estimated around 10% opportunities lost per quarter and roll out the system • Need to lower the cost of ownership very quickly. Following • Information security risk with multiple distributed data repositories this successful initial • Unco-ordinated management planning and reporting functionality across the group footprint we are now • Multiple and isolated interaction with clients expanding the use of • Lack of intelligence of its client base and prospects Pivotal CRM through • Achieve client service excellence additional asset • Support a growing mobile workforce management groups.” • Existing systems, plagued with slow, rigid and fragmented infrastructure Stephen Johns • Head of eBusiness Mellon Asset ManagementSolution:Pivotal, a leading Customer Relationship Management (CRM) solution provider and the CRMdivision of CDC SoftwareResult: • Single contact management system across its subsidiary groups • Integrated data - saving of over 80% data storage • Around £500,000 savings in infrastructure and software • Estimated £250,000 savings in support* • 10% growth in new/existing business** • Proposed global roll out • Ability to provide integrated and meaningful contact, service and support to its clients • Mechanism to track investment and plan and manage sales pipelines • • Co-ordinated sales and integrated marketing campaigns • Supporting a mobile workforce* Complete execution of plan to be implemented.** Estimated on cross selling and co-ordination of complete Asset Management business. Backgroundheadquartered in Pittsburgh, Pennsylvania. With approximately $5.1 trillion in assets undermanagement, administration or custody, including $870 billion under management, Mellonindividuals.Mellon Asset Management (MAM), a division of Mellon Financial Corporation is a leading ®management subsidiaries and multiple distribution channels.
  • 2. CASE STUDY: MELLON ASSET MANAGEMENT (MAM) Mellon Asset Management’s multiple subsidiaries: In order to maximise the capability of its sales and marketing function and provide better levels of service and support to its clients, MAM needed a new CRM system that could be rolled out to all its subsidiaries. * The above are a selection of the Mellon Asset Management brands. With the dynamic nature of Mellon Asset Management’s (MAM) business models, clients and products, MAM realised that its existing CRM solution could no longer keep pace with the growth of its multiple subsidiaries and the complexity of the markets within which they operate. Engaging with clients with the highest degree of care, frequency and personalisation is core to the business and with various sales and contact management solutions in operation, it became apparent that there was opportunity to improve client interaction and intelligence gathering between its recognise cross/up-selling opportunities or plan and manage its sales pipeline across the group. client and prospect information due to the existence of multiple client records across the group. MAM recognised that its core business functions were operating in isolation, to the detriment of its sales potential and high standards of service demanded by its clients. In order to maximise the capability of its sales and marketing function and provide better levels of service and support to its clients, MAM needed a new CRM system that could be rolled out to all its subsidiaries. The new path towards Pivotal CRM system to be implemented across all of its asset management subsidiaries. The Pivotal ® demanded.
  • 3. CASE STUDY: MELLON ASSET MANAGEMENT (MAM) Mellon Asset Management CRM Model: “The CRM application needed to add considerable value in meeting the individual Mellon Asset Management asset management groups’ needs Mellon Sector Sales while providing the Mellon Global Investments corporate, executive functionality. It was important to be able to support our individual internal Mellon Capital Management clients while being Mellon Global Alternative Management Services able to add value to The Boston Company Newton Investment Franklin Portfolio Mellon Transition the bigger picture at Standish Mellon Mellon Equity Mellon HBV the same time. With a co-ordinated approach we have been able to achieve economies in areas including infrastructure, software, compliance and development” Stephen Johns Single Database Head of eBusiness Mellon Asset Management Implementation and migration of data Implemented in February 2006, MAM initially built a standard application from the core requirements that had been gathered. This was a combination of existing Pivotal templates and the out-of-the-box Pivotal application. It then engaged with each of the Pivotal CRM application to their unique requirements. Alongside these activities the to the new single CRM system was taking place. Training the teams management right down through the ranks and MAM realised that user acceptance was vital to the success of the system. Following implementation, MAM invested in user training with onsite training, webcasts as well as an intranet site keeping users informed of the system’s functionality and updates. ®
  • 4. CASE STUDY: MELLON ASSET MANAGEMENT (MAM) Realising MAM’s goals for an integrated CRM with Pivotal > Streamlining sales pipeline and opportunity planning by providing a single, consistent and accurate contact management system across the MAM group > > Maximising the potential of its sales and marketing functions by co-ordinating campaigns with a reliable contact management, planning and data segmentation tools > and focus on most valuable clients with product categorisation > Co-ordinating client interaction and raising the standards of service to its clients by providing a holistic client view with client history, preferences and needs including assets held, services used and points of contact > Ability to react rapidly to market change and make more informed business decisions with reporting and analysis tools > Realising an integrated customer centric approach across MAM by providing comprehensive access to one easy to use, integrated CRM system with a single view of the client > Create contracts and agreements more accurately and rapidly with dynamic document assembly > allocation planning > Supports a growing mobile workforce through web and PDA access with Wireless integration > User friendly functionality and interface and 100% user acceptance > Integration with existing IT systems such as MS Outlook > Flexible for future growth and acquisition with the ability to easily extend the CRM > What the future holds MAM is currently in talks to roll the Pivotal system out to its global sales and marketing groups. It is also planning an addition 90 seats for Mellon Global Investments and is looking to implement the solution across other subsidiaries in its group. Pivotal Corporation Ltd. Pioneer House There are also plans to introduce new functionality and Pivotal modules to the system 7 Rushmills, Northampton United Kingdom NN4 7YB in order to meet additional business requirements including integration with Blackberry Tel: +44 1 604 614131 devices and to utilise the functionality of Pivotal MarketFirstTM a powerful eMarketing Fax: +44 1 604 630495 Email: info-intl@pivotal.com activities. ® Pivotal is a subsidiary of CDC Software. are trademarks of their respective owners.