Global IT services provider Insight has helped financial advisory firm Perpetual improve its delivery of fiduciary intelligence through a Microsoft Dynamics 365 CRM deployment.
Perpetual Corporate Trust delivers administrative and fiduciary services for the funds management and debt capital markets.
The company was seeking an improved “Perpetual Fiduciary Intelligence” solution to “automate and simplify their manual processes with a focus on intuitive, user experience from both an internal and external perspective”, Insight said.
Perpetual undertook an exercise over the course of a few years to clarify and develop the requirements, according to Insight.
In early 2020, the two organisations agreed to a Proof of Concept (PoC) to see whether it was possible to “streamline the process, automate much of it, and ensure that due diligence data was available when and where it was needed in order to comply with regulatory requirements”.
Insight developed a solution using Microsoft Dynamics 365 CRM and an undisclosed number of specially developed Power Platform apps which it said met the needs of the customer and received support across the business.
By October 2020, the production system went live and Perpetual said it began seeing instant benefits from streamlined due diligence management, instantaneous oversight of the process and excellent record keeping capabilities.
Perpetual said the platform enabled its service providers to delegate tasks internally, establish branching logic and provide dashboard reporting internally which facilitated instant oversight of outstanding and completed items. Dashboards allowed instant visibility of status, workflow, historical items and the full database of providers and trust vehicles.
Insight said the efficiency of the system allowed the Perpetual team to focus on tasks as opposed to data and administering queries. Data is stored in the cloud as part of the Microsoft offering.
Insight also said the new platform “paved the way for broader digital transformation in other areas across Perpetual”.
“It was all about developing a system in order to allow the appropriate free flow of information between our client organisation or service provider, and Perpetual,” Perpetual Corporate Trust fund services general manager Vicki Riggio said.
“To manage risk, improve efficiency and transparency – and importantly to improve both the employee and customer experience, Perpetual wanted to digitally transform the process end-to-end.”
Riggio added that there had already been interest in the solution from other areas of the business.
“We’ve purposely designed it so it’s not only fit for purpose for us. We recognised at the outset that a simple design can provide benefits to the broader Perpetual,” she said.