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Case Studies

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Case Studies by Industry: Financial Services

Segment: Capital/Wealth Management

Challenge


This company is an investment firm managing over $1 billion (CAD) in investor capital. Complicated regulations and audit-heavy requirements posed a challenge for invoicing, receivables and reporting which was based on a legacy ERP system. As a result, many manual processes were still in place and data was stored in many different locations. Seeking a complete end to end solution, this company engaged Youngland Computing to deliver it.

Industry Analysis: With few new clients available, Banks, insurance companies and financial services companies must up-sell/cross-sell to current customers or win market share from their rivals. The first step towards winning your customers is coming to know them and an effective information system provide the basis for this requirement. System integration allows data collection from multiple databases throughout the company in real time, so advisors can gather all the information about a customer in one setting and gain a more holistic view of the customer. In this way, there will be better chance of identifying products you can successfully cross-sell and more effectively build customer relationship.

System integration enables financial advisors to work more effectively and efficiently across information sources and distribution channels. It drives down the cost of their internal processes while cultivating a greater level of customer intimacy

Solution


As a base point, a new ERP system with robust functionality was introduced as a foundation to build upon. Because of the number and complexity of the business relationships involved, we introduced a custom invoicing solution to automate most manual processes. It provided a centralized data storage from which reports could be easily generated and seamlessly integrated with the ERP system for accounts receivable purposes. Additionally, the difficult entity relationships were streamlined and easily managed from within the custom solution. Seamless system integration ensured that all customer data was available in a single system for easy reporting.

Benefits

  • Automation in place of many manual processes
  • Centralized data storage
  • Easy management of complex entity relationships
  • 360 degree visibility of client information improving customer service and marketing efforts
  • Customized client-facing invoice generation
  • Seamless integration to ERP system to leverage robust accounts receivable functionality
  • Reduction in clerical errors and improved auditing capabilities

Methods and Technologies

  • Microsoft Solution Framework (MSF) 
  • Universal Modeling Language (UML) 
  • Work Breakdown structure (WBS) 
  • Microsoft .NET 
  • Microsoft SQL Server 
  • Microsoft Dynamics GP (Great Plains) 
  • Microsoft Office

Our Feature Product

in Financial, Distribution and Field Services is Microsoft Dynamics GP (formerly Great Plains). Dynamics GP delivers comprehensive out-of-the-box business management functionality, from financials and human resource management to manufacturing and more. It connects the many moving parts of your organization, giving you better visibility into and control over what’s going on in your business. Read more.

At Youngland, customer satisfaction is highly prioritized because we firmly believe that taking care of customers takes care of business. Our staff is dedicated to bring you exceptional care and support. With this as our business model, we are dedicated in providing our customers with the best services because their satisfaction is our reward.

If you are interested in knowing more, please take a look at our SWITCH! Program that offers the product with FREE assessment and discount.

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