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Thanks to Oracle Sales Cloud, we gained access to the most up-to-date and reliable customer information from a single platform rather than pulling data from multiple systems. Our sales team can now use the tool to track and manage the entire cycle of an opportunity, not just to record sales activities.
IOOF Holdings Ltd. (IOOF) is one of Australia’s largest financial services organizations that has been helping Australians secure their future for over 170 years. Its goal is to put clients first and deliver tailored solutions by providing a wide range of leading products and services that includes financial advice, superannuation, investment management, estate planning, and trustee services.
To increase business opportunities, IOOF needed a flexible and easy to use CRM system to track and manage the entire sales cycle. It also wanted to measure sales performance not only based on revenue targets, but also opportunity pipelines.
Unlike other vendors, Oracle Sales Cloud stored our data domestically rather than offshore. Oracle also offered more competitive pricing for customization and gave us the flexibility to perform the upgrades at our own pace.
IOOF replaced the legacy desktop user interface for its CRM system with Oracle Sales Cloud’s simplified user interface. It also migrated the data from two back-end systems into a single Oracle Sales Cloud and plans to migrate another two systems. IOOF then rolled out user training sessions across Australia to improve user adoption. Taking just 12 weeks for the initial implementation and up to 3 weeks for each innovation release, the project execution was easy and straightforward and IOOF goes live with the new sales capabilities every quarter.
“Investing the time to customize and develop a robust CRM system that meets our business requirements is critical to the success of sales processes. Oracle Sales Cloud enabled us to achieve this,” Wise said.
Established in 1846, IOOF has grown substantially to become a leading quality financial service provider. It is one of the top 100 companies on the Australian Securities Exchange with over US$104 billion of assets under management, administration, advice and supervision on behalf of 600,000 clients across Australia and New Zealand. IOOF operates four divisions including financial advice, platform management and administration, investment management, and trustee services.
IOOF initially engaged Oracle Gold Partner, Ekulus Consulting (Ekulus) for developing a solution blueprint and roadmap. Following the recommendations from Oracle and Ekulus, IOOF partnered with Ekulus to build a centralized CRM system by integrating its backend systems with Oracle Sales Cloud through a data quality hub. The company also engaged Ekulus to provide on-going support and modernization of Oracle Sales Cloud installation.
“It was far more cost effective to outsource customization and development to a third-party provider who specializes in Oracle. Ekulus assisted us to navigate the process and ensure our sales team remains relevant and maximize the benefits of Oracle Sales Cloud,” Wise said.