DataArchiva for Financial Industry: How a Fortune 500 Financial firm Managed their Salesforce Data Storage
In today’s technology-driven era, leading enterprises have considered data as more than a strategic asset and identified the precious opportunities it offers. Financial institutions of today deal with a lot of data. However, it creates challenges if left unmanaged. Some of the biggest data-related trials that the Salesforce financial customers facing today are, the sheer volume of data proves to be expensive in terms of storage and challenging in terms of governance and compliance.
DataArchiva offers Salesforce financial customers a highly secure & cost-effective data archiving solution that can help them save over 85% storage costs, improve the overall application performance and efficiently lead data governance, everything at a native level. By design, DataArchiva archives all the historical data at a native level in Salesforce’s big data-based storage system called Big Objects without losing data integrity with seamless access.
In this blog post, we are going to discuss a specific use case of one of Salesforce’s Fortune 500 financial customers, their data growth challenges, and how DataArchiva helped them succeed. The financial firm operates across continents in 19 cities and 9 countries with employees over 10000 worldwide. With an Org of 100+ Objects with 30+ levels of Object relationships, 500+ complex data relationships, and 10+ integrated AppExchange solutions, there were too many customizations as well as complexities when it comes to seamless data accessibility. This highly complex Salesforce system was generating a massive volume of data from over 20 different sources. A few of the major data growth sources were profiles, contacts, activities, accounts, cases, tasks, transaction records, addresses, leads, etc.
With growing data & when left unmanaged, challenges were bound to come. The first challenge was the storage cost. Salesforce’s additional storage cost is significantly high. And with no options left, the financial firm was planning to go for additional storage space which was expensive considering the volume of data they had in their CRM. The second challenge was the performance. With almost 1 TB of data, the CRM performance has started downgrading rapidly resulting in lower productivity. And the third challenge was meeting data retention and compliance requirements. As the financial industry is one of the highly regulated industries, they need to adhere to multiple internal & external data retention policies. To efficiently meet audit & compliance, they needed to have seamless data accessibility.
There comes DataArchiva
For a financial company, data security is always a top priority and DataArchiva could seamlessly address this issue by keeping the archived data encrypted in the Big Objects. We helped them reduce nearly 85% of their storage costs with a 2x improved application performance. With structured data archiving, DataArchiva was able to archive all the old profiles, contacts, activities, accounts, cases, tasks, transaction records, addresses, leads, etc. and optimized the primary data storage. With super quick implementation, the time to value was immediate.
DataArchiva for Financial Companies using Salesforce
With an aim to manage data more efficiently, reduce storage costs and lead governance, financial companies using a Salesforce system can turn to DataArchiva and start using the CRM like never before. With driving features like auto-scheduler, data integrity, encryption & one-click restore, DataArchiva is GDPR compliant and a comprehensive solution suite for all your data growth-related challenges. To know more, schedule a demo today with our product experts.