4 Steps to Reducing Risk When Implementing CRM

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You may be wondering if it is possible to replace your CRM software solution without endangering ongoing operations. The short answer is ‘Yes’ and we can back that up from personal experience.

If your organization relies on your CRM system as its operational platform, you know how valuable it is to you during each and every business day. If the time has come to replace it, you might be understandably overwhelmed with the prospect. Your system manages numerous integrations and processes, houses a huge storehouse of data and possibly effects hundreds or even thousands of employees. How, you wonder, can you possible implement a new CRM solution without putting all that at enormous risk?

Choose the right software and a partner with a plan

We worked with a very large wealth management investment firm to replace their old CRM system, Onyx, with Microsoft Dynamics CRM. Here’s the story of that implementation and the four pronged approach that insured its success:

The wealth management investment firm we worked with controlled tens of billions of dollars in assets, had more than twenty-five thousand private clients and worked with over 100 large institutions ranging from Fortune 500 companies to governments and foundations. Because their legacy CRM was out of date, they were naturally very concerned about risk when it came time to move their data to a new CRM system. They couldn’t afford to put their assets and their customer relationships in jeopardy.

The solution:  Our four pronged approach


Step 1: Document your requirements.

In the discovery process, the investment firm thoroughly documented their requirements for the new CRM system. Top of the list was their need to insure compliance, manage complex security needs, and scale to predicted business growth. They also sought to avoid a lot of custom development in order to control the cost associated with implementation. On top of all that, they needed to insure that they could seamlessly continue to do business and have access to their huge amounts of data at all times.

Step 2: Do your research. Find out which software is best for your industry.

Before choosing Microsoft Dynamics CRM as the best fit for their company, the firm thoroughly evaluated several options including Salesforce.  Microsoft Dynamics CRM met all of their requirements.  Dynamics CRM was even able to mirror their existing processes so the learning curve for employees would be slight.  What really sold them on Microsoft Dynamics CRM though was the success stories of financial services firms using Microsoft Dynamics CRM.

Step 3: Choose a partner with experience not only with your chosen product and in your industry, but also with projects similar in size and magnitude to yours.

As we mentioned, this was a top tier firm. It was crucial that the implementation partner have the skills and experience in planning, building and coordinating enterprise-level CRM projects for financial services companies on their level. Also essential was the ability of the partner to understand the high level of risk involved and to have systems in place to mitigate that risk.

Step 4: Allow any time necessary for careful planning and analysis.

An implementation of this magnitude was not to be entered into without careful planning combined with a thorough understanding of the firm’s processes and requirements. This thorough understanding and careful planning allowed intelligent decision making about the structure of the solution and how it would be implemented while meeting budget and timeline requirements. Find a partner who understands the importance of careful, detailed analysis and planning before starting a project.

The investment firm selected Green Beacon as a partner because of their experience and their reputation in the financial services community.  It was a good choice. The outcome was an amazingly smooth transition to a complex, enterprise-wide solution that will drive business management across the organization—with zero downtime and business continuity from day one.

Following these 4 steps, this financial investment firm took an approach that proved to be a complete success. They achieved a smooth, risk-free implementation of Microsoft Dynamics CRM that met all their needs and with the scalability that will serve them for many years to come.

To learn more about how this investment management firm met their goals without exposing them or their clients to risk, download a copy of the Microsoft Dynamics CRM success story.

Contact Green Beacon and let’s discuss how our experience and these 4 crucial steps can help your business with a successful Microsoft Dynamics CRM implementation.

By Green Beacon

1 thought on “4 Steps to Reducing Risk When Implementing CRM”

  1. I’d add another step to check out if a potential vendor provides any kick-off services for free - consultations, prototypes, PoCs etc. for you to probe the platform and its functionality, as well as a vendor’s ability to deliver without wasting own resources. This is a common practice, and it’s increasingly becoming a must for staying competitive on the IT outsourcing market.

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