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3 Important Factors to Consider When Replacing Your Legacy CRM System

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If you're like many organizations, you installed a CRM system many years ago. It has served you well, but it is beginning to show its age. It doesn't integrate well with your newer hardware and software systems. It cannot be upgraded easily, if at all, and there aren't many partners that can help with that issue, regardless.

However, it is handling all your CRM data, which has grown quite large and complex. You want to replace it, but your entire company relies on this system. All your processes have been built around it, and any disruption will result in lost business, missed transactions, and, in some cases, regulatory problems.

This is what happened recently with a large investment advisory firm managing tens of billions of dollars, 25,000+ clients, and more than 100 institutions including Fortune 500 corporations, governments, foundations, and endowments.

Businessmen Using Tablets

All operational activity interacted with the firm's legacy CRM system in some way, including financial applications and document management. Plus, the system was key to 2,000 users and functioned as the system of record for compliance and served internal departments for regulatory and audit purposes. At the same time, the system showing its age: It was not flexible enough to handle the firm's plans for growth, it was difficult or impossible to customize, and it posed security and compliance risks.

Determining that the risks of remaining on the aging CRM system outweighed the risks of changing, the firm looked for an alternative. They found a solution that fit the three major criteria they needed to meet with a new system:

Knowing it's the right time

While there is never a good time, this firm realized that remaining on the legacy CRM system not only posed a risk to their growth, but also posed genuine risks to them and their clients in the form of system security and regulatory compliance.

Finding the right software

As the replacement for the legacy system, the firm chose Microsoft Dynamics CRM because of its power, flexibility, and dependability. The software would be able to handle all the issues the legacy system could not, and it was able to grow with the company.

Finding the right partner

Choosing the right partner ensures that your software selection will be implemented properly, with minimal impact and maximum benefit to your business. In the end, the firm selected Green Beacon as its partner, largely because of Green Beacon's expert knowledge of Microsoft Dynamics CRM, especially in the financial services industry. Green Beacon is also known for planning, coordinating, and implementing large-scale CRM projects with no downtime or loss of data.

Success Story: Wealth Management Company Moves Off Legacy CRM System

To learn more about how Green Beacon was able to help this wealth management company move off its legacy system and use Microsoft Dynamics CRM to handle its growth, manage its security and regulatory concerns, and function as the backbone of the entire business, read their success story.

by Green Beacon Solutions

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