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Modeling Financial Services Business Processes
Gregory Altonji, Citi Lava Trading
Jason Atwood, Citi Smith Barney
Peter Coleman, ThinkEquity Partners LLC
Industry Focus: Financial Services
Safe Harbor Statement
“Safe harbor” statement under the Private Securities Litigation Reform Act of 1995: This presentation may contain forward-looking statements including but not limited to statements concerning the potential market for our existing service offerings and future offerings. All of our forward looking statements involve risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions proves incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.
The risks and uncertainties referred to above include - but are not limited to - risks associated with possible fluctuations in our operating results and cash flows, rate of growth and anticipated revenue run rate, errors, interruptions or delays in our service or our Web hosting, our new business model, our history of operating losses, the possibility that we will not remain profitable, breach of our security measures, the emerging market in which we operate, our relatively limited operating history, our ability to hire, retain and motivate our employees and manage our growth, competition, our ability to continue to release and gain customer acceptance of new and improved versions of our service, customer and partner acceptance of the AppExchange, successful customer deployment and utilization of our services, unanticipated changes in our effective tax rate, fluctuations in the number of shares outstanding, the price of such shares, foreign currency exchange rates and interest rates.
Further information on these and other factors that could affect our financial results is included in the reports on Forms 10-K, 10-Q and 8-K and in other filings we make with the Securities and Exchange Commission from time to time. These documents are available on the SEC Filings section of the Investor Information section of our website at www.salesforce.com/investor. Salesforce.com, inc. assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
Thank You to Our Partners!!!
About Lava Trading
• INDUSTRY: Financial Services
• EMPLOYEES: 320
• # USERS: 70
• PRODUCT(S) USED: Sales Force Automation, Relational Junction for
Salesforce, 5 downloaded AppExchange applications (3 dashboard apps,
Vacation Requests, Mobile Admin Console)
Citi's electronic trading solutions, including the Lava technology, provide high-performance trading products for our clients and the financial services industry. Our Lava technology was the first solution to truly consolidate market data distribution and order execution capabilities across all major liquidity sources, including NASDAQ, Listed exchanges, ECNs and ATSs. Our OTC, Listed and Foreign Exchange solutions are used by broker/dealers, market makers, hedge funds and institutional investors.
Lava Trading Case Study - Provisioning
Sales team closes the sale (contract signed)
Implementation Team coordinates onboarding the
new client
Various work requests to internal departments
Status updates and feedback
1st Trade – Revenue begins
Key Challenges
• Long lead time to begin implementation, up to
2 weeks
• Sales Questionnaire rework common
• Inaccurate data
• Duplicate Account and Contact data across
systems
• Create local copy of Salesforce database
• Integration Data Cache
• Live Backup of schema and data
Solution
Integrate Salesforce.com data to internal applications
Backup of Salesforce.com data and schema is never more than 15 minutes old
Relational Junction for Salesforce provides full synchronization of data and schema
Relational Junction vendor maintains compliance with SOAP API updates, frees us to focus on our core competencies (database to database integration, business applications)
CPMS(.NET)
Salesforce.com
SalesforceDB
Before and After Processes - CPMS
Sales to Implementation Process Before Integration
CPMS(Implementation Team)
Salesforce.com(Sales)
Close Sale
Complete 4 page SQ Word Document
Update SQ
SQ Complete?Create Project
Record
Stop
Notify Sales Team
Email SQ to IM Yes
No
Update Opportunity
(maybe)
Monitor Progress via email/sneaker
net
Sales to Implementation Process After Integration
CPMS(Implementation
Team)
Relational Junction Sync(MS SQL Server)
Salesforce.com(Sales)
Yes
Sync
No
Update Opportunity with Project Created
date
Salesforce Opportunity
Updated
Create Project Record
Stop
Request Project(via date)
Begin Implementation
Close Sale
Notify Implementation
Team Lead
New Project Request?
Results
What were the results?
• Reduced average Project Start time from 2 weeks to
15 minutes
• Sales has confirmation within Opportunity that
project has started
• Eliminated missing/inaccurate data
• Key business processes connected to common data
elements
Integration Points
EmployeeDirectory
(MS Access)
Teleco(MS Access)
ProbMan(MS Access)
CPMS(.NET)
Salesforce.com
SalesforceDB
Employee Directory – employee contact records
CPMS – new client onboarding. Application to Application communication. Opportunity triggers new record in CPMS via SalesforceDB triggers.
ProbMan – trouble ticketing and work requests
Teleco – Telecom circuit tracking/billing
Salesforce.com – CRMAccount, Contact, Opportunity management
Best Practices, Tips and Tricks
Plan for integration up front, include external system keys from the start
Bulk import of new account/contact/opportunity data via local copy of database and Relational Junction product to handle key assignment
Design SFA around end-to-end process Work implementation from both directions
Reporting/Dashboard/Analytics requirements (top down) Data entry/process requirements (bottom up)
Communicate/Document integration “rules” to internal developers
Handling Account/Contact Merge
Problem Salesforce.com merge operation flags local record as a delete
(Delete=‘Y’) effectively orphaning the record Solution
Create child intersection objects for both Account and Contact Integrate to these intersection tables Salesforce.com merge includes the child intersection tables,
ensuring externally linked records always point to the active record
AccountExternalAccountInter-
section
Lava Trading – Integration Summary
ChallengeChallenge
Integrate multiple internal applications with Salesforce.com to provide a consistent view of customer data.
Build internal CRM database to mirror Salesforce.com.
No in-house SOAP expertise.
Integrate multiple internal applications with Salesforce.com to provide a consistent view of customer data.
Build internal CRM database to mirror Salesforce.com.
No in-house SOAP expertise.
SolutionSolution ResultsResults Relational Junction for Salesforce
Auto-build internal mirror of Salesforce database instance.
Auto-update local schema based on Salesforce.com changes.
Synch data one-way, bi-sync or with filters.
Schema and data cache for internal integrations.
Use internally available expertise to build integrations via custom SQL Server database table triggers and stored procedures.
Relational Junction for Salesforce
Auto-build internal mirror of Salesforce database instance.
Auto-update local schema based on Salesforce.com changes.
Synch data one-way, bi-sync or with filters.
Schema and data cache for internal integrations.
Use internally available expertise to build integrations via custom SQL Server database table triggers and stored procedures.
Reduced project start interval from 2 weeks to 15 minutes
Eliminated expected 3 month project to build internal CRM data cache
Consistent view of Salesforce data within applications
Able to use existing reporting tool set to augment Salesforce.com reports
Leveraged Salesforce.com data/functionality to internal systems
Reduced project start interval from 2 weeks to 15 minutes
Eliminated expected 3 month project to build internal CRM data cache
Consistent view of Salesforce data within applications
Able to use existing reporting tool set to augment Salesforce.com reports
Leveraged Salesforce.com data/functionality to internal systems
SalesforceMultiple
Internal Systems
SalesforceDB Database Cache
All About Company Citi Smith Barney
• INDUSTRY: Financial Services
• EMPLOYEES: 317,000
• GEOGRAPHY: Global
• # USERS: 585
• PRODUCT(S) USED: SFA, Service & Support, 3 downloaded AppExchange
applications
Citi is a financial services company, with some 200 million customer accounts in more than 100 countries. Citi Smith Barney is the full service brokerage arm with over 14,500 Financial Advisors in 800 offices worldwide.
Citi Smith Barney – We Hear You Program
Started in May of 2006
Program to encourage branch suggestions
Goal to streamline internal processes
Liaison for Financial Advisors
Email and management branch visits
Reports back to senior management
High touch feel for branches
Citi Feedback – Key Challenges
Replace Manual Effort
• Email address on intranet portal
• Branch visits written on paper
• Excel spreadsheet for tracking
• Workflow through Outlook email
Technology Challenges
• No reporting
• No visibility into progress
• No accountability
• Retain personal touch
Citi Feedback – The Solution
Buy vs Build analysis Sharepoint vs SalesForce.com
SalesForce.com Support Module• Web to case
• S-Control for contact creation
• Queue based workflow
• Dashboards & Reports
Deployment DetailsPhase 1 Phase 2
Products implemented SFA SFA# of Users 34 As neededIntegration points 2 3Training Once OngoingBusiness Units affected 5 units More
Citi Feedback – Results
What are the results?
• Two month build time
• User training sessions
• Launched on 9/10/2007
• 50% of feedback incorporated
• Knowledge base growing
• Workflow enabled
• Clear visibility through dashboards
• Phasing in other channels
Citi Feedback – Tips & Tricks
Assign the right people
SalesForce.com knowledge a plus
Have a hero
Decide on your data
Import vs starting fresh
Plan to move fast
Clear your calendar
All About ThinkEquity Partners LLC
• INDUSTRY: Investment Banking
• EMPLOYEES: 190
• GEOGRAPHY: Global
• # USERS: 120
• PRODUCT(S) USED: salesforce.com for Financial Services
Focused exclusively on the growth sectors of the economy, ThinkEquity Partners LLC offers targeted research, investment banking, wealth management and asset management services for institutional investors, corporate clients, venture capitalists, entrepreneurs and financial sponsors.
Case Study – Key Challenges
Business Challenges
• No single client database
• No way to track the number of internal touch points
• No central forecast
• Poor customer conversion rates
Technology Challenges
• Integration between systems
• Multiple offices and a high degree of wireless users
Case Study – Key Challenges, Cont.
Summary of Challenges
• Hard to define the level of service provided
• Lost revenue
• Inefficient use of valuable resources
• Low quality customer service
Case Study – The Solution
How did we address these challenges?
• Centralized client database
• Integrated all client touch points
• Integration of related systems
• Mandate usage
Deployment DetailsPhase 1 Phase 2
Products implemented SFA SFA# of Users 100Additional 20Integration points None 2Training Quarterly QuarterlyBusiness Units affected 3 units All units
Case Study – Results
What were the results?
• % Improvement – focused 600+ clients down to 80 (4 –
20 lists)
• Cycle time improvements – total view of customer “what
they are eating at the trough”
• Visibility
• Accuracy
• Higher customer satisfaction
• 44% firm-wide revenue growth versus 4% the year before
Integration is Key to Usage - Example
Department: Brokerage
# Users: 100
Key Requirements
• Ease of use/deployment
• Integrate with publishing/commissions system
• Executive visibility
Key Benefits
• Increased customer visibility
• Increased department interaction
• Focused revenue expansion
Sample Screen Shot
Don’t miss these Activities:
Visit our Financial Services Expo13 Partner Solutions Financial Services DemosMeet 700 Financial Services
AttendeesBirds of a Feather Industry
Luncheon: Tue 12:15Enjoy a Latte and Network in our
Industries Lounge
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