Case Study

Operational Transformation via Modern Distribution Architecture

The client came to Olmstead in need of a complete distribution architecture transformation. Olmstead led the client through this transformation, including centralizing external data feeds and analytics and implementing a data warehouse. We also implemented a suite of distribution applications addressing CRM, sales enablement, client reporting, digital/web, and marketing automation. The modern distribution architecture has resulted in the following:

SCALE

300% reduction

in hours needed to build reports

ACCURACY & TRUST

70% increase

in number of calculated fields

EXCEED CLIENT EXPECTATIONS

30 hour reduction

in data availability

OPTIMIZED CRM

300% increase

in sales management efficiency

BETTER TARGETING

40% increase

in distribution list accuracy

BRAND ELEVATION

30% increase

in open rate of existing campaigns

INCREASED ENGAGEMENT

300% above industry standard

in open rate of new campaigns

RESPONSIVENESS

100% automated

follow-up activity

Before Olmstead architected a data warehouse for this client, their data was stored in Excel sheets owned by various members of their organization, creating risk and data inaccuracy. The data warehouse implementation featured a single source of truth workflow and created a more mature DevOps process. It established a data dictionary and taxonomy and pre-calculated fields for consistent use.

The data warehouse was a core component of the entire project and has continued to grow since its initial implementation. The same data mart was used for many of the application implementations below, and the warehouse has added additional data points since the completion of the project, like multi-currency. The warehouse was designed to be reusable and a platform for growth for the firm. 

The client had an outdated and manually intensive process, with employees wasting time producing materials rather than interacting with clients and prospects. The firm’s clients couldn’t access regularly updated key information, and the client lacked a modern data mart & tools that would facilitate an automated process to providing investment insight, commentary, and general feedback on market trends and occurrences. Olmstead implemented Kurtosys to achieve faster, automated information updating that produced performance and disclosure daily instead of quarterly.

The client’s existing CRM provided inconsistent processes across the organization and fragmented client data. Olmstead’s Salesforce implementation met the client’s evolving needs for scale and tracking. This implementation allowed for consistent communication with clients that live within a single source of truth and a robust view of all sales and marketing activity in one place. All relevant sales data is now trackable, and all client data comes from Salesforce.

The client realized that their client report production process needed modernization and automation. Their goal was to streamline their processes around building client composite reports, and to significantly cut the production time of these materials. A Seismic implementation allowed key personnel to refocus their efforts from material production to directly engaging clients. The production process was reduced from ten to two days by utilizing specialized data calls for data, images, biographies, narratives, and footnotes within a single template.  A scheduling process was also put in place, creating a fully automated “push button” process from report production to delivery.

Key Takeaways:
 

    1.  A holistic and modern distribution architecture optimizes the client journey and eliminates the risk of silo investing and a lack of integration.
    2. An effective distribution data platform is a platform for growth that allows for consistency and self-service as a firm evolves.
    3. A Data-centric architecture creates an agile and flexible environment.