By Tim Clark, Wall Street & Technology
Mellon Asset Management has achieved significant financial savings estimated by Mellon to be worth $944,000 in infrastructure and software, and $377,000 in support in just two months following its implementation of the Pivotal Customer Relationship Management (CRM) solution.The Pivotal CRM solution allows Mellon to consolidate its CRM infrastructure, software and support across its 12 asset management subsidiaries, including Standish Mellon Asset Management, Franklin Portfolio Associates and The Boston Company Asset Management. The subsidiaries will be able to manage customers' investments more profitably, provide enhanced levels of service and enable the organizations to make more-informed business decisions. Stephen Johns, head of eBusiness, Mellon Asset Management, commented in the press release: "It was important that our chosen CRM application would support our business and add value in meeting the needs of our asset management groups. We needed a system that would allow us to manage individual clients on an everyday level and also provide a single view of sales opportunities across the entire business." Implemented in February 2006, the Pivotal CRM system currently is being used by more than 250 people. As a result of the success thus far, Mellon is in discussions regarding a further rollout to its global sales/marketing groups and investment subsidiaries later this year. Mellon is also planning expansion to include Mellon Global Investments, the international distribution subsidiary of Mellon Financial Corp.