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Chatham Financial

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Chatham Financial, seeking to leverage the wealth of information in its Salesforce and Marketo databases, looked to Progress DataDirect Cloud to enable a secure SQL Server Financial Marketing Data Warehouse.

Challenge

Locate a secure, turnkey solution to pull the company’s Salesforce and Marketo data into a SQL Server data warehouse to quickly get decision-making data to business planners.

Solution

Progress DataDirect Cloud, a single, secure package that had all the connectors Chatham Financial was looking for in one place, including a hard to come by Marketo connector.

Result

Chatham Financial today has a data warehouse that meets stringent security standards, did not require internal resources to develop and deployed months faster when compared to using multiple vendors or building a custom solution.

Story

Progress Enables Chatham Financial Marketing Data Warehouse

Challenge

A global financial services and technology firm specializing in the debt and derivatives markets, Chatham Financial has a vast technology landscape, rich in data. But much of the company’s data is sensitive, protected by multiple layers of security. With the financial services industry being highly competitive, Chatham Financial takes marketing seriously, continuously seeking ways to leverage its data to advance the business—but security always comes first.

“Our clients expect top notch security from us, so we have to expect that from our vendors as well,” said Matt Roberts, Marketing Analytics Manager for Chatham Financial.

Begun as a home-based business in 1991, the 400 employees of Chatham Financial today serve more than 1,600 customers around the world providing interest rate, FX and commodity hedging and hedge accounting. They transact nearly $1.5 billion on behalf of their clients in notional value daily. Chatham’s growth is a result of the company’s unique blend of expert advisory services and proven technologies that help clients execute programs to optimize their business goals. It also takes some innovative marketing along the way.

With Salesforce as its CRM platform and Marketo as its marketing platform, Chatham Financial sought to leverage those data sources to further its marketing objectives.

“One of our goals is to use data across the business to make timely and informed decisions,” Roberts said. “In this case we needed to build a data warehouse for the Salesforce and Marketo data so that we could analyze it and deliver insight to the people who are making decisions about our business.”

Solution

The task was to pull the company’s Marketo and Salesforce data into a SQL Server data warehouse.

“The major challenge we faced is that many cloud providers require a specific API to get data in and out of the platform,” Roberts explained. “We wanted a secure, turnkey solution that we wouldn’t have to devote our internal resources to maintain.”

While researching the data connection solutions needed to build the data warehouse, Roberts encountered a number of unexpected challenges, including a market laden with full-fledged ETL capabilities that he did not need and a lack of solutions that navigate the Marketo API.

“Many software solutions out there provide connector services for Salesforce,” Roberts said. “But very few of them allow us to connect to Marketo—and they are both important pieces of our marketing and CRM activities. We did not want to go to multiple vendors; we wanted them both in one secure package. That is where Progress® DataDirect Cloud® comes in—it has all the connectors we were looking for in one place.”

Results

The decision to deploy DataDirect Cloud enabled the data warehouse solution to become fully functioning about six months later—a period that included several months of vetting DataDirect Cloud for security.

“One of the biggest benefits we’ve realized by using Progress DataDirect Cloud is security,” Roberts said. “Security is very important to us—we put the software through very rigorous testing and policy procedures before we would accept it. The fact that Progress was able to pass those tests was critical.”

Security hurdles passed, Chatham Financial had complete confidence in the robustness of DataDirect Cloud and was able to implement the data warehouse solution ahead of schedule. “Because DataDirect has an ODBC driver, we could use existing tools we were already familiar with,” Roberts said. “That feature alone enabled us to deploy about a month sooner than we otherwise would have been able to.”

With DataDirect Cloud now pulling Salesforce and Marketo data into the newly built data warehouse, Roberts and his team are now in a position to begin measuring marketing program effectiveness, including email open rate analysis and assessing client engagement.

“This all requires data and this is the type of data we are trying to marry with revenue data to make decisions about which clients and opportunities to pursue,” Roberts said. “It’s important to get answers to the business planners as soon as they want them so they can make key business decisions faster and more efficiently.”

Roberts noted three key benefits of DataDirect Cloud:

  • Able to meet stringent security standards
  • Did not require internal resources to develop the solution
  • Deployed months faster when compared to using multiple vendors or building a custom solution

The Progress support team also contributed to the success of the project. “Whenever we had a problem or noticed an issue, they were on it within 24 to 48 hours,” Roberts said. “That kind of responsiveness gave us even more confidence we had made the right decision.”

 

About Chatham Financial

Chatham Financial is a full-service financial risk management advisory services and technology solutions firm, serving clients in the areas of interest rate, foreign currency and commodity hedging, hedge accounting, regulatory compliance, defeasance and debt and derivatives valuations. Founded in 1991, Chatham serves over 1,600 companies annually, bringing deep derivatives expertise, services and technology solutions to clients through a global team of risk management professionals, CPAs, analysts and technology developers. For more information, please visit: http://www.chathamfinancial.com/

 

 

 

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