Salesforce ROI Case Study
Salesforce ROI Case Study
Salesforce ROI Case Study
ROI: 112%
THE COMPANY
The private wealth management division of a large global bank serves high net
worth individuals and families with an integrated wealth management service
including portfolio management, inheritance planning, tax advisory, and
philanthropic advisory services. Key to the success of private wealth managers is
the ability to manage relationships that may include extended families, trusts,
lawyers, and other entities ― and to rapidly respond to client requests for
transactions such as wire transfers, portfolio reallocations, new account openings,
and address and account changes.
THE CHALLENGE
The bank already had a workflow system and a CRM solution in place to support its
wealth managers but learned in early 2006 that the CRM solution ― Vantive ―
would no longer be supported. In addition to a replacement solution, the group
needed:
Streamlined access to its customer database, workflow application, and other
information sources to make it easier for users to have a complete view of the
customer from one primary client desktop.
End-user productivity tools as well as an easy way for teams supporting
different client groups to collaborate to ensure wealth managers would actually
see value in using the system and adopt it.
Workflow that was easy to use to support changing needs but also easily
auditable to ensure regulatory compliance.
Finally, the group wanted a platform that would enable it to develop and deploy
new functionality and applications to business users more quickly than had
previously been possible.
Users were trained for six hours on how to use the solution, and 478 users have
adopted the solution. Salesforce.com provides users with a primary point of access
for information about customers, case management, financial transactions, and
other key factors that can impact an account.
BENEFITS
Indirect
43%
Direct
57%
TOTAL: $8 million
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November 2006 Document G84
COSTS
Training Software
11% 44%
Personnel
45%
LESSONS LEARNED
The group wanted one single source of customer and account information for users
but knew that developing the internal infrastructure to support it would be cost-
prohibitive. Using an on-demand solution enabled the group to rapidly and cost-
effectively deploy a customized client relationship desktop for end users.
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November 2006 Document G84
User adoption was also a critical factor in the application’s success, as is true with
any CRM project. Using Salesforce.com as the primary front-end client and
Salesforce.com’s workflow and integration technology to expose data from other
existing systems within the Salesforce.com environment made accessing
information less cumbersome for users and kept training requirements low.
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DETAILED FINANCIAL ANALYSIS
WEALTH MANAGEMENT FIRM
SUMMARY
Project: Salesforce.com
Annual return on investment (ROI) 112%
Payback period (years) 1.75
Net present value (NPV) 885,401
Average yearly cost of ownership 1,637,857
FINANCIAL ASSUMPTIONS
All government taxes 50%
Discount rate 15%
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