(via FastStats® approved partner - Matrix-Data Ltd)

Using FastStats® to create a single platform to track all customer interactions

To integrate information from Witan Investment Trust and its 3rd party service providers into a single database in order to provide Witan Investment Trust critical information related to performance of its products. The solution needed to deliver granular information regarding individual transactions, fees, charges and dealings.

Background

Established in 1909, Witan is one of the UK’s largest investment trusts, managing some £1.16bn (as at 30 June 08) on behalf of some 60,000 investors. Like most financial institutions, Witan’s fund administrative functions and many of its marketing functions are outsourced 3rd party service providers. They approached Matrix-Data Solutions to build them an intelligence solution which takes all of this information into account and enables them to produce detailed management information reports.

As well as meeting our critical success factors, the new reporting solution identified revenue shortfalls which our administrator had failed to collect.

Objectives

To integrate information from Witan Investment Trust and its 3rd party service providers into a single database in order to provide Witan Investment Trust critical information related to performance of its products. The solution needed to deliver granular information regarding individual transactions, fees, charges and dealings.

Solution

Matrix-Data Solutions specified the requirements for the data feed from Witan Investment Trust’s administrators and their media call centre agency. Using Matrix-Insight services, software was created to process and integrate the data and match it against individual investors. The administration information is loaded monthly and the information from the media call centre is refreshed daily. All of this detailed granular information is hosted within a database by Matrix-Data solutions. This data analysis and profiling is delivered through the Matrix-Clarity FastStats® platform, allowing greater insight into the trends that the data represents. This system tracks Witan Investment Trust’s customer interaction from prospect to seasoned investor. Starting at the first point of contact and tracking all the interactions through to conversion and redemption. Witan Investment Trust also use the intelligence to gain insight into the ROI for media/marketing campaigns.

Results

The management information reports that are generated have been designed to Witan Investment Trust’s specific requirements. The analysis and reporting allows Witan Investment Trust to provide valuable figures and statistics to their board and other stakeholders. They can now closely track the performance of the company and its products and are equipped to make well informed strategic business decisions.

James Frost, Marketing Manager at Witan Investment Trust comments: "As well as meeting our critical success factors, the new reporting solution identified revenue shortfalls which our administrator had failed to collect. These shortfalls were subsequently reclaimed, which meant that the overall project saved Witan money."

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