Luxoft, DeutscheBank Work for High Touch' CRM

By David Sims

TMCnet Contributing Editor

 

Industry observer John Adams has a good Q&A with DeutscheBank’s “high touch” CRM, where Daniel Marovitz, DeutscheBank’s COO, talks about high-touch CRM and the benefits of offshoring to locales closer than India.

Marovitz tells Adams that, yes, CRM differs for commercial clients and retail users. For commercial clients, “it’s a high-touch environment. Retail CRM systems deliver quantitative data on things like when someone has made a deposit, when the CD comes due and whether someone made his last mortgage payment.”

High-touch CRM, he explains, “does that too, but there’s also more detail about meetings and presentations that we made to clients, reports about upcoming meetings, electronic pipelines that detail what deals we expect a client to do and what revenue might get generated, as well as historical revenue and lending.”


DeutscheBank decided to go with Russian vendor Luxoft, to “near-shore” the project. Marovitz explains the thinking behind going with a Russian vendor, saying “they are not half a world away in India. They’re in Russia and the Ukraine. That’s a lower cost location, but not one that's a million miles away in terms of travel and time-zone concerns.”

So DeutscheBank gets cost savings, he tells Adams, “but not without [sic] having a cultural or physical chasm between the teams that are working for us. In terms of being able to get there and have face-to-face meetings on critical issues, it’s much easier than having to go all the way to India.”

In March, Luxoft, a large Russian provider of high-end IT outsourcing services, announced the extension of its co-operation with investment bank Deutsche Bank.

Luxoft President and CEO Dmitry Loschinin and Marovitz finalized the agreement during CeBIT’s (News - Alert) German-Russian IT Summit, which promotes the cooperation between Germany and Russia, Ukraine and Belarus.

Luxoft agreed to provide development resources in Russia and the Ukraine to enhance Client First, a Client Relationship Management package. Moreover, based on Deutsche Bank’s experience with Client First, the two companies believe that the product has wide potential in the business community and will therefore work together to market it to organizations worldwide.

Client First provides real-time management of each client relationship by aggregating and centralizing data from many internal and external sources. The system currently serves over 5,000 Deutsche Bank employees across Europe, North America and Asia Pacific.

Client First is used as a CRM platform in a number of different businesses across the bank.

Loschinin emphasized that working with Deutsche Bank has been a truly collaborative partnership, saying “we are taking an almost unprecedented step by working with Deutsche to sell a product that was specifically developed for just one client.”

Luxoft was the first company in Europe to achieve Level 5 CMMI quality certification.

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David Sims is a contributing editor for TMCnet. For more articles please visit David Sims’ columnist page.