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Turning CRM into xRM


  For Fund Management




                        1
Turning CRM into xRM
                                                                     (for fund management)
                Financial sector companies are facing more and more global competition
                these days and need to differentiate their services to gain competitive
                advantage. Inventing new products and services is not necessarily the way to
                gain competitive edge. But developing entirely new business models and
                business processes would provide better and longer lasting advantages, as
                they are more difficult to copy and they create permanent value for the
                company.

                Despite this, most of the current IT systems used by the financial sector don’t
                support rapid process development or easy business process innovations. A
                substantial amount of the IT budget is invested to maintain and build qualifying
                service systems services that are necessary to have, but don’t separate a company
                from its competitors. Another common feature of the financial IT industry is the level
                of system fragmentation. Customers are presented with several applications, such
                as a loan register or portfolio management system.

                There are many reasons behind this fragmentation. One of the main ones is the
                huge amount of information that has to be processed and the complexities involved
                in the service itself. Another equally important reason is the complexity in the
                development work itself. In order to have projects that are manageable in size, they
                end up being realized as isolated islands. The fragmentation leads to complex
                integration projects, multiplication of data, bad services and eventually high costs.
                And these systems do not help the companies find out who their best customers
                are, how much they earn by serving them and what the service processes they use
                are.

                We believe that there is a clear need for a solution that enables both rapid process
                innovation and saving of time and money. What if there was a tool that would, in
                addition to that, have strong emphasis on customer service, provide excellent
                connectivity, scale to large data sets and offer open database views and tools?
                One platform that could take care of all businesses in both sides of the balance
                sheet would make a revolution. Think about the cost savings, improvements in
                quality of information and new possibilities in creating new services.




Originally published in the Finance on Windows Partner Guide 2010/11
Turning CRM into xRM
                                                                   (for fund management)
              Well, obviously we believe there is a tool that handles all these wishes and more.
              Microsoft has turned customer relationship management (CRM) into xRM, where
              the x stands for any relationship. We have gone even further and used this platform
              to produce something totally new – not just renaming customer relationship.

              The xRM platform provides endless possibilities for innovative minds. We can build
              applications with very little or no programming and implement them with astonishing
              speed. And we don’t need to sacrifice functionality, as sophisticated business logic
              can be implemented with software plug-ins. A system handling the transactional
              side of asset and fund management combined with a full-blown CRM system would
              already be a dream come true for many customers. But when we introduce basic
              CRM functionality like activities, workflows and office integration into the
              transactional side of the system, you can really invent new ways of streamlining in-
              house processes. And it is easy to build new innovative services for internal and
              external customers. Our aim is to give users a clear view on workflows in
              consolidated dashboards, where users need interact with the systems only when
              predefined rules cannot be applied. Time is spent with exception handling instead
              of process handling.

              There is a famous saying about silver bullets and software engineering: there has
              not been nor will be any single revolutionary change that would drastically change
              productivity of software development. But the revolution in productivity arises from
              avoiding a lot of software engineering.

              Our xRM effort is focused on areas where we can create additional value for our
              customers and their customers. More and more IT service companies are providing
              xRM-based solutions and one can also easily combine in-house development with
              xRM applications bought from other IT shops. This will open completely new doors
              for cooperation between the bank or insurance company and its IT vendor you can
              build or buy, or do both. xRM also opens a totally new way of collaboration among
              IT shops too, as they can combine their own knowledge with xRM applications
              delivered by another IT vendor. This model of combining functionality from several
              vendors into one platform is unique and we expect it to provide great benefits to our
              clients.

              This has been a revolutionary road for our team and our customers to go down and
              we feel that we have already invented something totally new and I dare say that we
              are just at the beginning of our journey. With xRM we can provide our customers
              fast implementation with our readymade -applications combined with customer
              specific tailoring. To sum up, by using xRM technology we can provide agility in
              development, less vendor dependency and lower costs.

              Pekka Häkkinen is a partner at Model IT




Originally published in the Finance on Windows Partner Guide 2010/11
Model IT Ltd



                                  Model IT Ltd serves financial sector companies by providing consultancy,
                                  tailor-made solutions and ready-made technology. Our customers work with
                                  banking, insurance or investment operations. Our solutions are innovative
                                  and provide high quality with proven customer satisfaction. Our bread and
                                  butter are analytical and computational applications, and most recently
                                  Microsoft's xRM technology applications in financial business.
Model IT Ltd
Pekka Häkkinen, Partner
                                  We can extend life span of your current systems by introducing new
Phone: +358 40 77 666 00
                                  functionality. We can add high-end risk measurement or performance
Pekka.hakkinen@modelit.fi
                                  analysis packages to work with your existing platform. And IFRS
                                  computations. Or we can provide you with our brand new xRM based fund
www.modelit.fi
                                  and asset management application: all-in-one from CRM to authority
                                  reporting.

                                  Or we can create something completely new to solve a problem or to create
                                  a unique service. Challenges are welcome.




                                                                                                         4

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Turning CRM into xRM (fund management)

  • 1. Turning CRM into xRM For Fund Management 1
  • 2. Turning CRM into xRM (for fund management) Financial sector companies are facing more and more global competition these days and need to differentiate their services to gain competitive advantage. Inventing new products and services is not necessarily the way to gain competitive edge. But developing entirely new business models and business processes would provide better and longer lasting advantages, as they are more difficult to copy and they create permanent value for the company. Despite this, most of the current IT systems used by the financial sector don’t support rapid process development or easy business process innovations. A substantial amount of the IT budget is invested to maintain and build qualifying service systems services that are necessary to have, but don’t separate a company from its competitors. Another common feature of the financial IT industry is the level of system fragmentation. Customers are presented with several applications, such as a loan register or portfolio management system. There are many reasons behind this fragmentation. One of the main ones is the huge amount of information that has to be processed and the complexities involved in the service itself. Another equally important reason is the complexity in the development work itself. In order to have projects that are manageable in size, they end up being realized as isolated islands. The fragmentation leads to complex integration projects, multiplication of data, bad services and eventually high costs. And these systems do not help the companies find out who their best customers are, how much they earn by serving them and what the service processes they use are. We believe that there is a clear need for a solution that enables both rapid process innovation and saving of time and money. What if there was a tool that would, in addition to that, have strong emphasis on customer service, provide excellent connectivity, scale to large data sets and offer open database views and tools? One platform that could take care of all businesses in both sides of the balance sheet would make a revolution. Think about the cost savings, improvements in quality of information and new possibilities in creating new services. Originally published in the Finance on Windows Partner Guide 2010/11
  • 3. Turning CRM into xRM (for fund management) Well, obviously we believe there is a tool that handles all these wishes and more. Microsoft has turned customer relationship management (CRM) into xRM, where the x stands for any relationship. We have gone even further and used this platform to produce something totally new – not just renaming customer relationship. The xRM platform provides endless possibilities for innovative minds. We can build applications with very little or no programming and implement them with astonishing speed. And we don’t need to sacrifice functionality, as sophisticated business logic can be implemented with software plug-ins. A system handling the transactional side of asset and fund management combined with a full-blown CRM system would already be a dream come true for many customers. But when we introduce basic CRM functionality like activities, workflows and office integration into the transactional side of the system, you can really invent new ways of streamlining in- house processes. And it is easy to build new innovative services for internal and external customers. Our aim is to give users a clear view on workflows in consolidated dashboards, where users need interact with the systems only when predefined rules cannot be applied. Time is spent with exception handling instead of process handling. There is a famous saying about silver bullets and software engineering: there has not been nor will be any single revolutionary change that would drastically change productivity of software development. But the revolution in productivity arises from avoiding a lot of software engineering. Our xRM effort is focused on areas where we can create additional value for our customers and their customers. More and more IT service companies are providing xRM-based solutions and one can also easily combine in-house development with xRM applications bought from other IT shops. This will open completely new doors for cooperation between the bank or insurance company and its IT vendor you can build or buy, or do both. xRM also opens a totally new way of collaboration among IT shops too, as they can combine their own knowledge with xRM applications delivered by another IT vendor. This model of combining functionality from several vendors into one platform is unique and we expect it to provide great benefits to our clients. This has been a revolutionary road for our team and our customers to go down and we feel that we have already invented something totally new and I dare say that we are just at the beginning of our journey. With xRM we can provide our customers fast implementation with our readymade -applications combined with customer specific tailoring. To sum up, by using xRM technology we can provide agility in development, less vendor dependency and lower costs. Pekka Häkkinen is a partner at Model IT Originally published in the Finance on Windows Partner Guide 2010/11
  • 4. Model IT Ltd Model IT Ltd serves financial sector companies by providing consultancy, tailor-made solutions and ready-made technology. Our customers work with banking, insurance or investment operations. Our solutions are innovative and provide high quality with proven customer satisfaction. Our bread and butter are analytical and computational applications, and most recently Microsoft's xRM technology applications in financial business. Model IT Ltd Pekka Häkkinen, Partner We can extend life span of your current systems by introducing new Phone: +358 40 77 666 00 functionality. We can add high-end risk measurement or performance Pekka.hakkinen@modelit.fi analysis packages to work with your existing platform. And IFRS computations. Or we can provide you with our brand new xRM based fund www.modelit.fi and asset management application: all-in-one from CRM to authority reporting. Or we can create something completely new to solve a problem or to create a unique service. Challenges are welcome. 4