Organizations require a 360-degree view of their customers and prospects in order to maximize customer profitability. To see the full picture, users require information from internal sources and external databases. However, internal databases often contain ?dirty? data with multiple and incomplete records, while external databases typically use proprietary identifiers making matching and integration a tedious manual process. Once updated, databases require ongoing maintenance to account for name changes, bankruptcies, management changes and corporate actions or they quickly become unusable.
Alacra Concordance helps organizations obtain a comprehensive view of customers and prospects by integrating multiple internal and external databases, enabling a higher ROI on their CRM investments and creating a unified view of the customer.
| Business Challenge | Alacra Applied | Results |
| Creation of a unified desktop via an internal portal across a global banking organization | Cleansing of multiple internal databases and appending of company and proprietary identifiers; integrating multiple external databases via Alacra Data Warehouse | Single comprehensive research portal on the desktop of all bankers globally; full linkage between internal and external databases |
| Gain a 360-degree view of the customer, increasing the ROI of CRM investments | Create a single customer database from multiple silos; cleanse data and append unique identifiers; display corporate structure via family tree; provide daily updates of corporate actions and other key events | Updated information lets users avoid wasted calls; redeployed internal resources which had been used to monitor corporate actions and maintain CRM data |
| Financial institution failed to achieve expected ROI from a new CRM system due to low user adoption resulting from a lack of perceived benefit | Drive usage of the CRM system through: a) integration of accurate customer information that has been cleaned and de-duped; and b) adding value to CRM user experience by making relevant and timely external business information available to users via the CRM system. This was accomplished through the deployment of Alacra Concordance and Alacra Direct, Alacra?s XML API. | Improved ROI on the CRM investment; improved sharing of information about clients and prospects; increased usage of licensed, third party information. |
