Client

Our client is a financial technology company dedicated to being the preferred partner for broker- dealers, banks, and investment research organizations. They specialize in research authoring, workflow compliance, content distribution, and providing tools to create an exceptional customer engagement experience.

Currently, our client stands as a leading provider of platforms and solutions in the field of investment research and client servicing, with a strong presence established in the United States, Singapore, India, and the United Kingdom.

Challenges

Institutional stock-broking has faced tough challenges in recent years, encompassing intense competition, regulatory scrutiny, diminishing commission pools, and the imperative to overhaul commission payouts. Our client perceives technology as the instrument for full-service broker-dealers to adapt and thrive in today's market. The primary objective of their product is to enhance broker-dealers' productivity, cost competitiveness, and revenue potential.

Confronted with a critical need to transform their software solution from a traditional desktop application into a contemporary SaaS platform, our client faced an expanding customer base. The rising demand among their clients for a more accessible and efficient online solution prompted this transition.

Recognizing the urgency of adapting to the evolving market landscape, the client embarked on a quest to find the right partner capable of facilitating this pivotal transition. Their objective was clear: migrate their existing single-tenant desktop platform to a multi-tenant SaaS solution. This transformation aimed to accommodate their growing user base while providing a more flexible and scalable service.

Cooperation

Exoft's collaboration with the client was the outcome of a meticulous due diligence process. The assessment involved an examination of our company's competence in several key areas, including our ability to address the client's business needs, expertise in the technology stack essential for the project, and our proactive and adaptable work approach.

To meet the project's demands and ensure its successful completion, we assembled a dedicated team of 12 skilled individuals. This team was carefully curated to bring together a diverse range of expertise, including project management, backend and frontend development, design, DevOps, and quality assurance.

During Phase 1 of the project, Exoft delivered outstanding performance, effectively showcasing our capabilities. This achievement subsequently led to the allocation of further responsibilities for Phase 2. Our consistent ability to meet project milestones and our unwavering dedication to fulfilling our client’s requirements have solidified our position as valuable partners in this venture.

Phase 1 – Migration to multi-tenant SaaS platform

Exoft was selected to transition an existing single-tenant CRM platform into a browser-based multi-tenant SaaS solution, primarily due to our profound expertise in the project's technology stack.

The core objective revolved around seamless migration of the platform from a desktop-based system to a SaaS environment while retaining all its essential functionalities without causing any disruption to business operations. The overarching goal was to minimize risks and consolidate legacy functionalities into a newly designed online platform.

During this pivotal phase, we initiated the project by crafting the design blueprint for the SaaS solution and assumed full responsibility for the entire development process. Our project manager maintained continuous communication with the client to ensure that the forthcoming product aligned perfectly with their expectations. Concurrently, our DevOps team constructed a robust AWS-based infrastructure to facilitate future scalability. The comprehensive migration process spanned 12 months, ultimately resulting in the successful launch of the new solution.

In parallel, we worked on a mobile app solution. While the primary focus remained on migrating to the multi-tenant SaaS solution, we were mindful of creating a cohesive ecosystem where both the mobile app and web solutions seamlessly integrated, delivering consistent value to end-customers.

The central focus was on database development, recognizing its pivotal role within our client's solution. Throughout the development phase, we ensured efficient integration with Thomson Reuters, providing access to up-to-date and critical information essential for the effectiveness and success of brokers' activities.

Phase 2 – Evolving of client’s product features

Following the successful migration, the client's in-house team assumed ownership of the core product. This transition marked a significant milestone, as they took on primary responsibility for the maintenance and ongoing development of the core solution. Our role evolved into technical advisors, providing valuable guidance and expertise to support their endeavors.

The next phase of our collaboration entered the realm of innovation, focusing on creating new features with the potential to drive future value and revenue.The client shared their comprehensive product vision and strategy for the coming years with us.

What made this phase particularly exciting was the degree of creative freedom granted to us. While we had the client's vision as a guiding light, we had the liberty to bring these new features to life. Exoft leveraged our deep understanding of the previously developed SaaS solution architecture, ensuring that the new features seamlessly integrated into the existing framework while delivering the desired functionality and user experience.

This collaborative approach allowed us to not only continue our technical support but also to actively contribute to the product's growth and evolution.

Solution

Our cooperation resulted in the creation of a specialized CRM & Client Manager platform designed specifically for the stockbroking and investment banking industries.

This innovative solution offers more than traditional CRM systems by seamlessly integrating conference management. This unique feature greatly benefits brokers and banks, streamlining corporate access services and enhancing the overall client experience. The CRM solution intuitively merges investment research and sales & trading functions, providing a superior client engagement and fulfillment experience. It excels in addressing the distinctive workflows and client service challenges of this industry while ensuring user-friendliness and high customer satisfaction levels.

Platform Features:

  • Customer-Centric Service: The platform ensures the seamless alignment of customer preferences with service delivery in the institutional stockbroking world. Continuously measure and track customer engagement against their needs to achieve the highest levels of satisfaction.
  • Unified Communication and Activity Tracking: The solution integrates all communication modes, including click-to-dial, MS Outlook, and Zoom, to comprehensively track customer engagement. Every interaction is recorded as an activity, ensuring accountability across the client service chain.
  • Actionable Client Insights: CRM provides deep, data-driven insights into the client service experience. It offers versatile reporting options, ranging from revenue vs. budget to individual client or account-level engagement—all easily accessible at your fingertips or delivered to your inbox.
  • Enhanced Account Management: The platform equips customers with the tools needed to deftly manage individual client accounts in the complex world of institutional stockbroking, enabling them to make informed decisions and deliver superior customer engagement effortlessly.

Results

Our partnership with the client has yielded impressive results. We collaborated seamlessly with the client's internal team, ensuring that we met project deadlines. To maintain clarity, we regularly updated senior leadership on project progress and governance.

The true measure of our collaboration's success lies in the outcomes achieved. We successfully migrated the CRM & Client Manager platform from a desktop-based system to a SaaS environment while retaining all essential functionalities, without causing any disruption to business operations.

Our efficient work, clear communication, and tangible results have strengthened our partnership. We take pride in our contribution to the project's success and are excited to continue delivering value in our ongoing collaboration with the client.