How to Improve Performance with Next-Gen Sales Enablement Technology in Financial Services


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How are next-generation knowledge management solutions changing the pace of sales and marketing efficiency in financial services?

IT departments for financial firms are investing in enterprise solutions like cloud and mobile technology to improve efficiency, and sales and marketing are no exception. Information is often scattered, compliance approvals for collateral are a burden, and real-time access to the right materials and data is a challenge for most financial services companies.

A lot has changed with knowledge management solutions in financial services. From mobile access and cloud-based platforms to automation, analytics and seamless integration to CRM – you can’t afford to be left in the dust.

Join us as our team of industry experts explore:

Technology trends redefining your processes and IT systems

Scalable, dynamic solutions to empower sales and marketing teams

Best practices in implementing enterprise platforms

Client success stories in asset and wealth management

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How to Improve Performance with Next-Gen Sales Enablement Technology in Financial Services

  1. 1. How to Improve Performance with Next-Gen Sales Enablement Technology in Financial Services
  2. 2. Agenda 01 Introductions 02 User Needs and Business Drivers 03 Top 10 Sales Enablement Tech Trends 03 Our Approach 04 Sample Projects 05 Introduction to Seismic 06 Q & A
  3. 3. Perficient is a leading information technology consulting firm serving clients throughout North America. We help clients implement business-driven technology solutions that integrate business processes, improve worker productivity, increase customer loyalty and create a more agile enterprise to better respond to new business opportunities. About Perficient
  4. 4. National industry practice focused on creating value for our clients through new operating models for growth, evolving the customer experience, navigating regulatory complexities and delivering new efficiencies for growth. Why Perficient? • World-class Financial Services Client Base • Wide Development Capabilities • Deep Technology Expertise • Nationwide Consulting Practice Footprint • Elite Business Partner Our Financial Services Practice
  5. 5. Industry Driven SolutionsGlobalDeliveryCenters/OffshoreDelivery Deep Financial Services Domain Expertise Enterprise Information Solutions Finance Enterprise Insights Portal Web Content Social Solutions SOA Cloud API Solutions Company Wide Practices Deep Financial Services Domain Expertise BANKING Wholesale Consumer Credit Unions Payment Processing Trust & Custody Trade Services Treasury Services ASSET & WEALTH MANAGEMENT Equities, Fixed Income Private Equity & Real Assets OMS & EMS Research Analytics Portfolio Modeling Portfolio Accounting Performance & Reporting CAPITAL MARKETS Equities & Fixed Income FX & Commodities Future & Options Electronic Trading INSURANCE Investments Customer Acquisition Compliance & Risk Strategies Property & Casualty Life Annuities Services Claims Evaluation Underwriting Consumer Direct Business/ Technology Solution Rationalization Business Process Improvement Program Value and Cost Management Client Centricity Risk and Regulatory Compliance Quality Management Solutions & Services
  6. 6. Industry-leading solution & technology expertise • 2000+ experienced colleagues • Dedicated solution practices • Partnerships and certifications in premier technologies Disciplined project execution • Highly experienced project managers • Perficient’s Enable™ methodology based on best practices Innovative approaches and IP • Perficient’s user-centered design approach • Application migration methodology • Quick Start Rulebook™ for Enterprise Integration Collaborative Approach • Work with our clients, adapting to their cultures • Education and mentoring services Superior Service and Value • Local client service teams • Flexible resource and fee arrangements • Delivery track record Commitment and Quality Assurance • Track record of 2000 engagements with 800+ clients • ~85% of clients bring us back • Strong client references What We Bring To Our Clients
  7. 7. About the Speakers Scott Albahary, Delivery Lead, Perficient Scott is a delivery lead in Perficient’s financial services practice with experience in implementing the Seismic content management platform for clients. Scott has extensive experience helping to manage complex business and technology programs for Perficient’s financial services clients. He has expertise in program management and implementation, customer experience management, solution architecture design, integration and resolution, as well as vendor and technology solution evaluation and selection. Marc Romano, CTO and Co-Founder, Seismic Marc has been working in the software and engineering industries for more than 10 years, and he now brings his talents to Seismic as the CTO and Co-Founder. Previously, Marc has engaged in software engineering for EMC Computer Systems, served as the Director of Professional Services and Insurance Practice at Document Sciences and worked as an engineer for IBM. He has an ample amount of experience in cloud computing, enterprise software and SaaS.​
  8. 8. User Needs Drive New Demands Marketing • Brand consistency • Increased demand for efficiency • Sales enablement • Analytics and quantifying ROI Sales • Customers want to be understood • Attract and retain customers • Improve sales and FA performance Information Technology • Simpler, more customizable user interfaces spanning cloud, mobile and on- premises • Rapid application delivery • Web services for customization • Content controls
  9. 9. Top 10 Sales Enablement Tech Trends
  10. 10. Future State Modeling Develop RoadmapCurrent State Analysis Re-Engineering Approach Information Gathering Define Project Scope Define Goals and Objectives Review Existing Technology Architecture Review Existing Documentation Interview Functional and IT Stakeholders Review Business Process Flows Evaluate System Flow and Functions Identify Pain Points, Gaps and Opportunities Define Target State Finalize Target State Quantify Target State Opportunities Review and Validate with Stakeholders Document Gaps, Risks, Issues & Dependencies Prioritize Target State Initiatives Develop Implementation Plan Conduct Target State Working Sessions • Observations and Opportunity Identification • High-Level View of Technology & Data • Current State Report • Recommendations • Short & Long Term Implementation Plan • Executive Presentation • Defined Scope • Project Plan and Schedules • Stakeholder Interviews • Summary Observations • High-level Target State which addresses pain points and opportunities • Target State process flows K E Y D E L I V E R A B L E S Development, Testing & Rollout
  11. 11. Guiding Principles • Think big, start small, and deliver results quickly – Iterative implementation • Get all key functional areas involved • Gain consensus on strategy and key functional capabilities and technical attributes • Clearly define business case and manage expectations regarding realization of benefits • Define key measurements and success criteria • Prioritize initiatives and tie to business case • Implement first reports that have medium to large business benefit, with low to moderate implementation complexity
  12. 12. Our Approach – Strategic Roadmap 1.0 Fact Sheet Quarterly Processing Fact Sheet Outputs Timeline (Business Day) IPPTeam DataProviders/ FactSheet Vendor Non- Marketing Reviews Marketing Process Manager Inputs Start Fact Sheet 1.1 Distribute Quarterly Schedule 1.2 Process Proprietary Data 1.3 Process Expense Data 1.4 IPP Team Data Validation 1.5 Process Growth of 10K Data 1.6 Initial IPP Team QA Review Fact Sheets – Non Prop 1.7 Process Top 10 Holdings and Stats 1.9.1 MRU Review – Proprietary 1.10 Process Quarterly Memo 1.11 Marketing Edit Proof Review 1.12 Publish Phase II Fact Sheets 1.13 Business Review – Prop Funds, Annuities, Portfolio Stats 1.14 Deployment End BD 10 - 11 uDraft Fact Sheets BD 7 - 11 BD 15 - 16 BD 23BD 17 - 20 uDraft Fact Sheets uDraft Fact Sheets uFinal Fact Sheets uTop 10 Holdings Data uTIAA Access Growth of 10K uRisk Statistics Report uEquities Portfolio Report uPlan Portal Extract Report uRisk and Portfolio Statistics Report uDraft Fact Sheets BD 5 - 6 uDraft Fact Sheets uInstitutional Q Memo uPension Q Memo uReal Estate Content BD 20 - 23 u10K Growth Data BD 12 uAnnualized TA & SR uPerformance TA & SR uiMonetNet Monthly File uBond Fund Calculation and Sector Breakdowns uPlan Rate and Fee Info uStable Value Daily Risk uYield Data uNet Assets uDaily Risk (Perf.) BD 2 - 4 uMorningstar Reports uNon-prop Morningstar Data uEstimate of Expenses BD 1 uAbove Data Sent to Fact Sheet Vendor uApproval uApproval uApproval uApproval uProduction Deployment uFee Waivers Past Expiration uUpdated Expenses uReal Estate Commentary uRevised Fact Sheets uOld ‘as of dates’ to Morningstar uPlan Specific InfouQuarterly Schedule uBond Fund Data (manipulated) u10K Growth Data to Vendor Exists within the IPP team Until BD 22 Morningstar Data for non-prop processed here 4 people 1 day 2 people 5 days Until BD 20 1.9.2 MRU Review – Non Proprietary Until BD 19 Key Findings 1.0 Fact Sheet Quarterly Processing ID Process Number Process Name Category Sub- Process Number Sub-Process Name Actor People Process Technology Data Overall Impact Solution Compexity Recommended Solution 1 All Approvals Post data load to Fluent, 13 days of a 27 day process are spent approving artifacts H M M H H H L All source data should be validated (either programmatically or manually) prior to sending the data to Fluent. By doing so, the multiple iterations of review may be eliminated with only a single, final Artifact Validation process. 3 1.10 Process Quarterly Memo Quarterly Memo 1.10.3 Manual Reformatting of Quarterly Memo Marketing Process Manager Multi-tabbed Excel files that require extensive preparation before upload to Fluent. The format in each tab may be different (evolved over time) for similar asset classes. H M H H H H H Receive a formatted flat file out of Confluence. The format will be uploaded directly into Fluent with no manual reformatting required. 4 50.4 Produce Quarterly Memo - Confluence Data Quarterly Memo 50.4.2 PACE Provide SMF Data PACE There may be a data governance and stewardship issue at the data source Issues with the quality of Eagle Pace security attributes cost two days of scrubbing (e.g. Sector Classifications). M H H H H M H Address data quality issues at the source (in Eagle) 14 1.2 Process Proprietary Data Fluent Fact Sheet Vendor Receives Data Fact Sheet Vendor Fluent's own process has a substantial manual component, with potential for errors. Fluent DB is SQL Server, focus on smaller data sets, not full holdings. M M L No 15 50.6 Produce Top 10 Funds Report Top 10 50.6.3 Create Spreadsheets with Top 10 Holdings Financial Reporting There are issues with the issuer data in Confluence, that affects roll ups to the top 10 issuers H L No 16 1.7 Process Top 10 Holdings and Stats Risk Stats Produce Risk and Portfolio Statistics Report GSS Manual process to create Risk Stats from FactSet in Excel (Approx 2 hours) L H L M M M L Request the vendor to produce a report that meets the need. 19 50.0 Fund Admin Data Sourcing Quarterly Memo 50.13 Produce Benchmark Composite Weights Performanc e Reporting Data is manually entered from Confluence into an Excel template (Approx 30 minutes) An automated report is not available out of Confluence to support this need H M L M M L Receive a formatted flat file directly out of Confluence that meets the need. The file would be uploaded directly into Fluent with no manual reformatting required. Liklihoodto AddressinIDA2D Finding Impact Timeliness? Scalability? Productivity? Quality? 1.0 Fact Sheet Quarterly Processing – Future State: Phase 3 Fact Sheet Timeline (Business Day) Marketing Reviews Non-MarketingReviewsMarketingProcessManager Start BD 7 2 people 3 days 1.13 (B) Address Edits from Compliance Review 1.11 (A) Marketing Edit Proof Review – Non- Proprietary Fact Sheet 1.13 (C) RP Review and Approval 1.11 (B) Marketing Edit Proof Review – Proprietary 1.9.2 (B) MRU Review – Non Proprietary 1.1 Distribute Quarterly Schedule 1.9.2 (A) Product Manager Review – Non Proprietary BD 10 1 person 1 day 1 person 2 days 1.6 IPP Non-Proprietary Fact Sheet Review 1.5 Process Growth of 10K Data 1.9.1 MRU Review – Proprietary 1.2 & 1.3 Process Proprietary & Expense Data 1 person 2 days 1 person 2 days BD 1 BD 2 - 4 BD 12 End 1.9 IPP Proprietary Fact Sheet Review 1 person 1 day 1 person 2 days BD 5 - 6 BD 11 1.14 Deployment 2 people 2 days2 people 2 days 1 person 2 days 1.10 Process Quarterly Memo 1.7 Process Top 10 Holdings and Stats Theme Current State Future State Recommendation People • Multiple human touch points to source and prepare data for delivery, increasing the risk of error • Multiple iterations of data reviews slows down the process • Automate file creation where significant manual processes are current used • Eliminate post-fact sheet data reviews by assuming data sent to Fluent is gold copy Process • Long cycle time for: – Aggregating data from multiple sources and performing computations for validating data integrity – Cleanup and preparation of data files to be sent to the vendor for the creation of reports • Lack of scalable data processing mechanism • Files that require significant manual manipulation will be converted to flat files and will be generated in an automated fashion: – Growth of 10K – Quarterly Memo Fixed Income – Expenses Technology • Manual data distribution that has: – A huge dependency on people for successful delivery – Non-secure transfer mechanism • Lack of scalable data delivery mechanism and standardized delivery format • All files will be delivered via FTP to Fluent • Flat files will be delivered in the Fluent staging table layout to minimize Fluent work-effort • All other files will remain in their existing format • Implement a reconciliation process to ensure the data that was sent to Fluent is the data Fluent processed Data • Quality issues exist with Confluence data causing manual review and remediation • The DMAC team will assist with addressing the data quality issues at the source: Pace Define the end-to-end process highlighting KPIs and timeline Map detailed pain points to process flows and prioritize Define future state process flows that remediate the pain points Determine implementation roadmap to achieve future state
  13. 13. Sample Projects
  14. 14. Investment Product Re-Engineering A Fortune 100 financial services organization employing more than 9,000 employees and is headquartered in New York City with more than $560M in AUM. Challenge • Investment product and artifact production resulted in long cycle times, prevented scalability and increased time to market. Solution • Analyzed current state processes and automated data extracts and addressed data quality to gain consistency across systems. Business Value • Reduced artifact creation from 764 person hours/quarter to 36 hours; reduced delivery timeline to generate by 6 business days. • Improved data integrity by automating data extracts and reconciliation.
  15. 15. Sales Automation & Mobility Leading financial services company specializing in retirement services for the non-for profit industries serving 4.8 million individuals. Challenge • Manual and costly process for creating client specific investment reviews and performance summaries. Solution • Automated data delivery from multiple sources to Seismic, including fund, benchmark, performance, portfolio and risk data. • Migrated existing static content into a library to be leveraged by Live Docs. Business Value • Reduced manual effort by 4,000 person hours/year; reduced the time to create an investment review book from 8 hours to 3 minutes. • Provided scalability and flexibility integrating new funds.
  16. 16. Introduction to Seismic
  17. 17. Connect with Perficient & Seismic Follow Us On Twitter @Perficient_FS Follow Our Blog JUNE 17-18, 2014 NEW YORK Guide: The Top 16 Sales Enablement Solutions for the Enterprise MAY 21 – 23 ORLANDO, FL Follow Us On Twitter @seismicsoftware