Seamless Salesforce CRM Data Migration Services for Investment Banks

CRM Data Migration & Ongoing Support Services

A European Investment Bank grappled with significant inefficiencies in its CRM data management, directly impacting client relationships. The core challenges stemmed from a lack of client-facing time, as employees were bogged down by tedious CRM maintenance. Inconsistent data storage, with no standardized layout for contact information, compounded the issue. Further, data gaps across 250+ users, irregularities due to varied storage formats, and rampant data duplication created a chaotic environment. The bank also faced the daunting task of a mass data purge before migrating to Salesforce, a process made more complex by the absence of a dedicated onshore point of contact. Recognizing the high cost of in-house management, the bank turned to Acuity Knowledge Partners for a comprehensive CRM Data Migration and ongoing maintenance solution. The solution addressed data inconsistencies by implementing standardized templates, executed a thorough data purge, and streamlined the Salesforce migration. By providing a dedicated point of contact, Acuity ensured a smooth, efficient process, transforming the bank’s CRM reporting & Analytics operations and significantly enhancing client relationship management.

40% cost savings
20% more client-facing time
Real-time CRM support
Staggered project-based team and use of hybrid model, bringing in additional cost savings

CHALLENGES

Inadequate client-facing time for users owing to significant time spent in maintaining CRM data
Lack of standard template to store contact data
Gaps in contact data stored by 250+ users
Inconsistencies in data due to data storage in various formats and templates
Duplication, as multiple users liaised with same accounts and leads
Need for bulk cleansing prior to migrating to SalesForce
Absence of central point of contact (PoC) onshore to handle collation, cleansing and migration process
High cost of function if handled by onshore team

OUR APPROACH

Liaised with 250+ users in collating over 1 million data points into a raw database
Set up a hybrid offshore team on a staggered basis, based on the data quality to be cleansed
Made real-time calls to coordinators from the onshore team and the CRM vendor to finalise the business logic to be used to remove duplicates, bridge data gaps and correct inconsistencies
Used SQL and Python to speed up the cleansing process

IMPACT DELIVERED

The offshore team independently collated data from 250+ users in different geographies, freeing up 30-40% admin time for the onshore team
Over 1 million data points were cleansed (duplicates removed, gaps bridged and inconsistencies corrected) with the use of SQL and Python and migrated onto SalesForce within 4 months, saving 70-80% admin time vs handling the cleansing exercise manually
The offshore team maintained a central PoC for SalesForce to ensure continued data accuracy, resulting in 20% more client-facing time for onshore users
MIFIID-related reporting (cost allocations, commission reports, etc.) was automated based on data stored on SalesForce, releasing 20% more client-facing time for the onshore team
The client realized 40% cost savings vs hiring similar talent onshore

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