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Microsoft India - Infosys Technologies Case Study
 

Microsoft India - Infosys Technologies Case Study

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Wealth management and private banking solutions require customer relationship management (CRM) that can integrate financial and CRM data from disparate applications and systems, and empower role-based ...

Wealth management and private banking solutions require customer relationship management (CRM) that can integrate financial and CRM data from disparate applications and systems, and empower role-based access to the most relevant, timely, accurate information. To meet this need, Microsoft® Gold Certified Partner Infosys Technologies leveraged the sophisticated capabilities and open architecture of Microsoft Dynamics™ CRM to create its Wealth Management and Private Banking solution. The application can integrate data from sources across an enterprise and present dashboard views of data most relevant for each role. By building the solution on Dynamics CRM 4.0, Infosys was able to quickly deliver a highly customized, industry-specific, flexible application that provides the multilingual and multicurrency capabilities required by international financial services firms.

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    Microsoft India - Infosys Technologies Case Study Microsoft India - Infosys Technologies Case Study Document Transcript

    • Microsoft Dynamics Partner Solution Brief Global Systems Integrator Creates Pre-Configured CRM Solution for Wealth Management and Private Banking Overview “With the Infosys Wealth Management and Private Country or Region: Global Industry: Information Technology Banking solution built on Microsoft Dynamics CRM 4.0, we can focus entirely on meeting client needs without Partner Profile Microsoft® Gold Certified Partner Infosys having to worry about platform capabilities.” Technologies defines, designs, and delivers Dinesh Mohan, Lead, Industry Solutions, Microsoft Dynamics Practice IT-enabled business solutions for Global 2000 companies. Wealth management and private banking solutions require Business Needs customer relationship management (CRM) that can integrate Banking and Financial Services companies financial and CRM data from disparate applications and systems, often struggle to integrate financial and CRM data from disparate sources to and empower role-based access to the most relevant, timely, provide client relationship managers with a accurate information. To meet this need, Microsoft® Gold Certified clear view of the data they need to server their clients most effectively. Partner Infosys Technologies leveraged the sophisticated capabilities and open architecture of Microsoft Dynamics™ CRM to Solution Infosys developed its solution for wealth create its Wealth Management and Private Banking solution. The management and private banking on the application can integrate data from sources across an enterprise Microsoft Dynamics™ CRM platform to provide a 360-degree view of each and present dashboard views of data most relevant for each role. customer and a single role-based By building the solution on Dynamics CRM 4.0, Infosys was able to dashboard view for each user. quickly deliver a highly customized, industry-specific, flexible Benefits application that provides the multilingual and multicurrency  Faster time to market compared to custom solutions capabilities required by international financial services firms.  Faster Implementation at each customer  Multiplied power and reach for application
    • "Thanks to the power of Business Needs role and have access to everything required Businesses that provide wealth management to be immediately productive. the SDK and the and private banking services in the Banking flexibility of the platform, and Financial Services industry require Solution sophisticated customer relationship Microsoft® Gold Certified Partner Infosys we can modify most management (CRM) applications to Technologies identified the gaps that hinder entities, fields, layouts, effectively evaluate and sell financial effective customer relationship management products and services, manage and support in a Wealth Management and Private Banking forms, and properties on customers, and increase business. This is domain and, in response, developed the fly without extensive further complicated by the need to meet Microsoft Dynamics CRM for Wealth highly-regulated compliance standards Management and Private Banking. It chose to coding. This means we established by both local and international build its solution on the Microsoft Dynamics have a solution that is laws. CRM platform because it offers: easy to support, Because these businesses often have  A sophisticated set of building blocks for maintain, and upgrade.” multiple, disparate applications and systems sales, marketing, and service; to manage both financial and CRM data,  Flexible workflow that cuts across and ties Dinesh Mohan, Lead, Industry Solutions, there can be gaps between the applications the modules together; Microsoft Dynamics Practice and systems, between the technology and  Role-based security across business the end users, and between end users across entities; and divisions. In addition, these multiple sources  A highly customizable platform. of data along with the multiple roles within a company can make it difficult for end users to All this allowed Infosys to create a solution to find and access the right information at the meet the complex needs of the Banking and right time, which can result in lost business. Financial Services Industry. Therefore, there is a strong need for a single, Custom Wealth Management and unifying CRM application that can integrate Private Banking Solution all the data from the disparate sources to Infosys’ Wealth Management and Private provide each relationship manager with the Banking solution is pre-configured and most relevant, timely, accurate information customized to empower wealth management for his role, while simultaneously tracking divisions in banks to not only better manage sales processes and required workflow their current customer relations, but retain activities. those with better service and expand business through more effective cross-selling This need is especially vital since this sector and up-selling. The solution caters to the is both fast-paced and prone to high turnover. needs of different stakeholders in the bank, With such an application, rather than including the Relationship Managers, requiring a new employee to spend days Financial Planning Analysts, Financial Product trying to find, access, view, and organize all Managers, and Back Office Personnel. the data for the new role, the user could, with one click, go right to the dashboard for that The solution provides a 360-degree view of each customer (referred to as Know Your
    • ubiquitous tool for relationship managers and back-office workers, so providing them the ability to fully leverage our application through the Outlook interface was vital.” Industry-Specific Customizability Another reason Infosys chose to build its Wealth Management and Private Banking solution on the Dynamics CRM platform is its customizability. Dinesh states, “The Dynamics CRM 4.0 platform is incredibly flexible. Its comprehensive SDK makes it easy for us to extend product functionality and integrate multiple capabilities to meet any industry or company-specific requirements.” He adds, “Because the platform is extensible using the .NET Framework, we didn’t have to train or find developers with specific Dynamics CRM development skills either. Instead, we were Figure 1 - Relationship Manager able to easily leverage the developers we Dashboard, including Top 5 New needed from our existing base of over Customers, Top 5 Accounts, Daily Customer) while giving each user a single 20,000 .NET professionals.” Task Meter, Other Tasks, News, dashboard with a role-based view. By Alerts, and Financial Index combining this with the extensive Company-Specific Flexibility movements functionality of the Dynamics CRM platform, In addition to its customizability in the data across the application can be development, Infosys also wanted a platform quickly, seamlessly, and effectively leveraged that was highly flexible for implementation. into the entire relationship management Dinesh states, “With other technology process. solutions, we would first have to go to the customer to collect requirements. Then, we Streamlined Integration would have to come back and write the code According to Dinesh Mohan, Lead, Industry and configure the application to meet their Solutions, Microsoft Dynamics Practice, “One needs. Finally, we would go back to the key reason we chose to build our Wealth customer to implement the application. Now, Management and Private Banking solution on thanks to the power of the SDK and the the Dynamics CRM platform is its tight flexibility of the platform, we can modify most integration with Microsoft SQL Server®, entities, fields, layouts, forms, and properties [Office] SharePoint® Server 2007, on the fly without extensive coding. This PerformancePoint™ Server, and Office means we have a solution that is easy to applications. This integration brought support, maintain, and upgrade.” efficiency to our development and provides a familiar interface for our customers.” He adds, “Microsoft Office Outlook is a
    • “[With Dynamics CRM Dynamics CRM 4.0 provides greater functionality of their Wealth Management and customizability and flexibility than ever Private Banking solution through SharePoint 4.0], we can easily before. Dinesh states, “With the many-to- Server 2007. Dashboards are available in develop the many relationships available in Dynamics SharePoint Server 2007 to view and update CRM 4.0 out of the box, we can truly and data without requiring end users to log into sophisticated multi- more easily meet and support all the Dynamics CRM. This gives users—who don’t branching workflows sophisticated business relationship needs of need full access to Dynamics CRM—the ability our customers.” to view and update data in the Wealth required by this industry, Management and Private Banking application implement custom Role-Based Dashboards without requiring the additional product The Infosys Wealth Management and Private training or licensing for their limited use. workflows for each Banking solution provides customized client, and additionally dashboards to present the massive amounts Improved Workflow Development of financial and customer-related data from and Implementation provide customers with disparate sources in a single view (see Figure Creating and managing effective workflow the ability to create and 1). Each dashboard is a custom collection of can be challenging for any business. In the data that is fed by various entities to provide Banking and Financial Services industry, this modify workflows each user with a clear view of all related is further complicated by the extensive without technical requirements, tasks, workflow, and required compliance and reporting requirements at actions. Within the dashboard, each user can every level of the customer relationship. expertise.” also drill down into the data behind the According to Dinesh, “We previously had to Dinesh Mohan, Lead, Industry Solutions, dashboard as needed. configure and code complex workflows to Microsoft Dynamics Practice provide the required escalations, multiple Custom, Flexible Reporting branching, approvals, reporting, etc. However, By leveraging SQL Server Reporting Services, with Dynamics CRM 4.0, Windows® Workflow end-users are also empowered to create and Foundation provides for all the complexities view various standard and customized we previously had to code. So now, we can reports. For example, now, instead of easily develop the sophisticated multi- browsing multiple spreadsheets to extract branching workflows required by this industry, data to be configured for each report, an end implement custom workflows for each client, user can simply create the report which then and additionally provide customers with the pulls the required data as needed. The ability to create and modify workflow without reports can be as simple as a detailed view of technical expertise or intervention.” a client portfolio or as complex as a report that maps financial products across a client’s He adds, “Windows Workflow Foundation also current portfolio, arming the relationship integrates with SharePoint Server 2007, so manager with appropriate and compelling the workflow within Dynamics CRM can reach cross-selling and up-selling opportunities. and be accessed by those whose access to the application is only through SharePoint.” Ability to Expose Data Outside Dynamics CRM Expanded Security and The tight integration with SharePoint Server Compliance Capabilities also allows Infosys to expose much of the
    • “By leveraging the power The banking and financial services industry cost of ownership (TCO) while providing a has extremely stringent requirements for rapid return on investment (ROI).” and flexibility of the security. According to Dinesh, “Dynamics Dynamics CRM 4.0 CRM 4.0 provides a great foundation for a Faster Implementation Saves Time comprehensive security infrastructure. for ISV and Customers platform, we were able However, just as important, it also allows us Thanks to the improved flexibility of Dynamics to develop a deeply to easily extend security for additional custom CRM 4.0, Infosys can now provide a one-step entities by configuration.” implementation process. Because Infosys can customized, flexible now configure the application to meet exact CRM solution to meet He adds, “Another feature that provides customer specifications during additional security for our application is the implementation, the ISV saves the significant the complex needs of multi-tenancy capability of Dynamics CRM time and expense of extra time to gather the Banking and 4.0. This allows us to ‘bucket’ data into requirements while the customer gets to various non-permeable layers in order to implement the application sooner. Financial Services separate data between countries, and industry and get it to business divisions. Then, using SharePoint Multiplied Power and Reach for Server 2007, we can provide views of the Application market in rapid time.” aggregated data from across the buckets for New features in Dynamics CRM 4.0 have Dinesh Mohan, Lead, Industry Solutions, those who require consolidated information.” vastly improved Infosys’ Wealth Management Microsoft Dynamics Practice and Private Banking solution. These To meet compliance requirements, Infosys capabilities include: also added an audit log to their Wealth Management and Private Banking solution.  Multicurrency: Multicurrency capability Through a custom form, the fields that is a vital need for any Banking or Financial require auditing can be selected. Then, when Services solution and thus, the any data is changed in that field, the date, multicurrency capabilities of Dynamics time, content that was changed, along with CRM 4.0 vastly improve the value of the the user who made the change are recorded. Infosys solution. This feature has helped to harden the  Multilingual: The ability in Dynamics security available in Microsoft Dynamics CRM 4.0 to handle multiple languages in a CRM. single instance also expands the power of the solution to meet the needs of larger, Benefits international customers. Faster Time to Market for Industry-  Multi-tenancy: The multi-tenancy Specific Application capability of Dynamics CRM 4.0 improves According to Dinesh, “By leveraging the the solution in two key ways. According to power and flexibility of the Dynamics CRM 4.0 Dinesh, “Multi-tenancy has been a big platform, we were able to develop a deeply boon for us, allowing us to support multiple customized, flexible CRM solution to meet the organizations with a single instance and to complex needs of the Banking and Financial provide data privacy needs through non- Services industry and get it to market in rapid permeable layers within the same time. From our client point of view, a organization.” preconfigured solution helps to lower total
    • For More Information Dinesh concludes, “With the Infosys Wealth Microsoft Dynamics For more information about Microsoft Management and Private Banking solution Microsoft Dynamics is a line of integrated, products and services, call the Microsoft built on Microsoft Dynamics CRM 4.0, we can adaptable business management solutions Sales Information Center at (800) focus entirely on meeting client needs that enables you and your people to make 426-9400. In Canada, call the Microsoft without having to worry about platform business decisions with greater confidence. Canada Information Centre at (877) capabilities.” Microsoft Dynamics works like familiar 568-2495. Customers who are deaf or Microsoft software such as Microsoft Office, hard-of-hearing can reach Microsoft text which means less of a learning curve for your telephone (TTY/TDD) services at (800) people, so they can get up and running 892-5234 in the United States or (905) quickly and focus on what’s most important. 568-9641 in Canada. Outside the 50 And because it is from Microsoft, it easily United States and Canada, please contact works with the systems that your company your local Microsoft subsidiary. To access already has implemented. By automating and information using the World Wide Web, go streamlining financial, customer relationship, to: and supply chain processes, Microsoft www.microsoft.com Dynamics brings together people, processes, and technologies, increasing the productivity For more information about Infosys and effectiveness of your business, and Technologies products and services, call helping you drive business success. (080) 28520261 or visit the Web site at: www.infosys.com For more information about Microsoft Dynamics, go to: www.microsoft.com/dynamics Software and Services − Microsoft Office PerformancePoint  Products Server − Microsoft Dynamics CRM − SQL Server 2008 Reporting Services − Microsoft Office Outlook 2007  Technologies − Microsoft Office SharePoint Server − Microsoft .NET Framework 2007 This case study is for informational purposes only. MICROSOFT MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS SUMMARY. Document published May 2008