AXA Financial has chosen the Evoke solution to create the first phase of its new customer database, with great success.
Evoke Software says that its data profiling and mapping solution, Migration Architect, has been implemented at AXA, and is now being targeted for two more initiatives.
To support its evolution into a customer-centric enterprise, AXA, known until last year as The Equitable Companies, saw that creating a cohesive CRM framework would increase customer acquisition, retention and expansion.
In the initial phase, a new customer database was created, populated with millions of rows of data from an existing data warehouse. Data that had once been used to produce annual statements for insurance policies was leveraged for service and marketing, tailored to the needs of the customer.
In 1999, AXA saw an opportunity to accelerate the creation of the CRM framework by capitalizing on the growing synergies between IT and business. AXA Financial had traditionally relied upon manual data analysis techniques using both internal resources and consultants. This approach was extremely time-consuming, expensive, and prone to human error. With high quality data being absolutely essential to the success of CRM, the need to automate this process was clear.
With an eye toward dramatically reducing project completion time, the company selected Evoke’s Migration Architect to automate the data analysis. Immediately, the focus shifted from gathering data to understanding their data.
“Evoke’s solution is essential to the success of our CRM strategy.” said Sharon Sibigtroth, of AXA’s Client Solutions unit. “The process of analyzing and understanding data from disparate legacy systems is a tremendous burden on time and resources. Evoke has substantially improved our data analysis process, enabling AXA Financial to accelerate the implementation of its business objectives.”
Using Migration Architect, AXA Financial was able to build the first phase of the customer database without the ‘scrap and rework’ usually associated with a hefty migration.
Lacy Edwards, CEO of Evoke, said: “AXA Financial typifies the industry leaders who are discovering the cost and time savings possible by making Migration Architect an integral part of their IT infrastructure.”
AXA Financial, Inc. is one of the world’s premier financial services organizations through its family of brands: The Equitable Life Assurance Society of the United States; AXA Advisors; Donaldson, Lufkin & Jenrette; DLJdirect; Pershing and Alliance Capital Management.
AXA, with $463 billion in assets as of Dec1999, is a member of the global AXA Group, one of the world’s largest providers of insurance and financial services with operations in more than 60 countries and assets under management exceeding $700 billion.
Based in San Francisco, California, Evoke has sales and support offices throughout the US and Europe. Customers include: AXA Financial, Bass Hotels, Fleet Financial Group, General Motors, Landstar System, Portland General Electric, and SBC/Pacific Bell. Evoke is a private company funded by several premier investment firms, including Axiom Venture Partners, GE Equity, Hambrecht & Quist, RRE Investors, Signal Equity, and Wheatley Partners.