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Company Uses Onyx® CRM to Build Wealth Management Platform and Improve Client Service; Wins Best Overall Use Award ORLANDO, INDIANAPOLIS and PHILADELPHIA — October 16, 2007 — Consona Corporation (Consona), a worldwide leader in providing customer relationship management (CRM) and enterprise resource planning (ERP) software and services for the enterprise, announced at its premier customer conference, Consona Connect, that Glenmede, a Philadelphia-based wealth management firm and Onyx CRM customer, is the 2007 recipient of the software provider's Best Overall Use Award.
The Best Overall Use Award, part of Consona's annual Summit Awards, honors a customer that has demonstrated excellence in utilizing multiple products (modules, features, add-on, third-party) and services from Consona. Recipients of the award submit both qualitative and quantitative data that illustrate how the solution has improved the customer's overall business performance. Award recipients display full use of both core and add-on solutions, steady business growth, a strong return on investment, and a passion for implementing and mastering new technologies.
Four years ago, managing client relationships was a challenge for Glenmede. While the firm had installed a customer relationship management (CRM) system in 1999, it was outdated and user adoption was low. Information that could have helped the firm proactively manage its clients was either hard to get at or simply not being used, and standard business processes weren't consistently enforced. Crucially, Glenmede didn't have all the information it needed to improve client retention by identifying clients who were in danger of leaving. In a highly-competitive market like wealth management, where sales volumes are low and quality of service is a key differentiator, these were big problems.
In 2004, Glenmede set out to address these problems and find a CRM system that could help it improve client service and increase efficiency across a range of operational areas. The company settled on Onyx CRM and, following a four-month implementation, saw the following benefits:
- Client retention rate improved to 99 percent.
- Improvements in perceptions of high net-worth individuals. In a 2007 survey of high net-worth consumers by the Luxury Institute, the company leapt to second place in the rankings of private banks.
- A 100 percent increase in operating margin (fees relative to costs) over three years.
- Better visibility into the sales pipeline.
- Quick and easy ad hoc reports to facilitate improved decision-making.
- More efficient, targeted marketing campaigns.
"When your clients' wealth ranges from the millions to the billions, client relationship management is very important," said Littenberg. "We simply cannot afford to let anything fall through the cracks, and we use every aspect of Onyx CRM to that end."
"We are thrilled to honor Glenmede with a Summit Award for some absolutely tremendous achievements," said Jeff Tognoni, CEO of Consona. "Glenmede sets a standard for the commitment it takes to gain maximum return on a business system investment. The growth and success this company has achieved with our support reminds all of us at Consona why we're in business."
About Consona Corporation
Consona Corporation (Consona, formerly known as M2M Holdings Inc.) is a worldwide leader in providing customer relationship management (CRM) and enterprise resource planning (ERP) software and services for the enterprise. Consona is dedicated to becoming a valued business partner by helping each and every customer continuously improve business processes over time. Toward this mission, Consona invests in the people, processes, technology and tools needed to provide its customers with a unique combination of customer care; product fit; a broad range of consulting, IT and business services; and industry expertise. Consona serves more than 4,500 customers worldwide and across a variety of industries, including manufacturing, distribution, financial services, health care, high tech, and local government. Battery Ventures and Thoma Cressey Bravo jointly own Consona. For further information, visit www.consona.com, www.onyx.com, e-mail info@consona.com, or call (888) 8 CONSONA.
| Contact: |
Melissa Stahley Consona Corporation P: (317) 249-1270 M: (317) 908-7050 melissa.stahley@consona.com www.consona.com |
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