As more and more of the world’s leading enterprises realize the undoubted importance of data, it is fast emerging as a key element in managing their businesses. The financial industry is also one such ever-advancing business field. As the financial sector is a large part of a nation’s economy, they deal with huge amounts of data which can lead to several challenges, if left unmanaged. Financial industries are also one of the highly regulated industries where secure data retention and management are highly essential. They are also bound by several government and legal directives asking them to retain their historical data for an extended period of time.
Over 80% of the Fortune 500 financial firms use Salesforce CRM to manage their organizational aspects which has helped them in achieving critical business goals with streamlined sales and service process automation. However, managing a massive data volume still remains a mammoth challenge in Salesforce, which becomes more complex when you deal with highly sensitive and classified data. Some of the top challenges that financial service providers using a Salesforce system face today are discussed below:
Keeping all the above complexities in mind, archiving the Salesforce data to some reliable external storage system emerges as an ideal data management strategy. Archiving is essentially moving out old legacy data from the internal system to some external system which ultimately boosts the performance, reduces storage costs, and enhances user experience. But before choosing an ideal Salesforce data archiving approach via external systems for the financial ecosystem, it is important to consider some of the crucial aspects involved. Some of the major aspects that need serious contemplation include:
To help financial industry enterprises in creating a robust data archiving strategy for their important Salesforce data, DataArchiva was launched into the market. DataArchiva, an easily available application on the Salesforce AppExchange, is an EXTERNAL data archiving solution that lets the Salesforce enterprise customers archive their historical data by making use of its custom archiving policies. Salesforce admins can easily store this data in their preferred external storage system without losing out on the valuable data integrity. This structured archiving solution itself takes care of all the complex data relationships maintaining both data accessibility and referential integrity.
In addition to this, DataArchiva is also compatible with both types of Salesforce frameworks, namely Lightning and Classic. Its automatic archiving feature is another important aspect that can benefit enterprises, while still ensuring utmost levels of security and integrity. Its inbuilt capabilities enable it to seamlessly integrate with a wide range of external storage systems such as several Cloud and On-premise database service platform providers like Amazon, Google, Azure, Heroku including various databases such as Postgres, Redshift, MySQL, Oracle, MS SQL, and more. To know more about DataArchiva, please get in touch with us.
If you are still on the fence about moving your data outside the Salesforce system, then the native data archiving solution called DataArchiva will suit your needs. This popular data archiving tool moves all the historical data from the primary data storage space to the Big Data-based Big Objects storage. Through this, Salesforce admins can drastically reduce the storage costs by up to 85%, improve the CRM performance by two times, and boost user experience while still ensuring data security and integrity. To know more about this solution, set up a demo here.