Implementation the Singletrack Way
Making a significant change to the software you rely on takes serious thought and, as we’ve discussed previously, requires confidence in the implementation partner and process.
At Singletrack, we have plenty of experience running successful implementations. With our track record of over 60+ clients and the tech and industry expertise in our team, we can make the process as smooth as possible. We have a tried and tested, repeatable Singletrack Way that guides you through the project and into the ongoing Client Success relationship beyond. That means you get to the new solution more quickly and easily, and can start using Singletrack’s data-driven approach in your business.
Let’s run through some of the most common questions or worries we hear from clients when it comes to implementation.
There are huge pressures on IT resources, and processes like integrations and data migration can be cumbersome. At Singletrack, we have a large library of integrations already in place – over 35 partners covering authoring, aggregators, market data, trading, consumption reporting platforms and more. These integrations are ready to go and constantly updated, which lessens the burden for IT. To help you prepare for the implementation, we have transparent information on when you will need to be involved and how. And we can step in and help with our white glove service to give you a bit of extra support whenever you need it.
A Singletrack implementation typically takes 3-6 months. This is fast – it’s weeks rather than years. In our experience, project fatigue is a big risk with both vanilla products and in-house builds. For vanilla products, it can be a result of near-endless configuration. For in-house builds, the pain can start with extremely long requirements-gathering processes, before you even get to the build, let alone the implementation. We know you just want to get up and running so we’ll deliver implementation fast, and work with you to ensure success in the future.
The short answer is generally not.
With a solution like Singletrack, which is designed around capital markets workflows, has a proven product development pedigree, can be configured to your firm and has high on-going investment, you can deliver a great solution for your business, fast. And you can benefit from a community of capital markets businesses and their experience: you can inherit new capabilities without long cycles of requirements gathering and development.
As we come back from the pandemic and continue to build the new normal, the real challenge is that business requirements and digital transformation are on fast forward. You don’t have 12 or 18 months to develop what you need today. And if the process does take that long, requirements will have moved on and you could face an endless battle to catch up. You need a solution that’s both ready now, and customisable to fit around your needs as they evolve.
The Singletrack platform has been built and honed over more than a decade, taking into account our team’s extensive experience across capital markets, as well as feedback from our clients. It’s purpose built for buy and sell side firms. That’s going to be hard to replicate and maintain in-house.
Singletrack comes with our own expert team who will configure, implement and then maintain the platform with three updates per year. Once you’re up and running, our client success team will ensure that the Singletrack platform continues to grow and change as you do.
This isn’t a problem – in fact, in some ways it’s where Singletrack comes into its own.
Firstly, there’s the in-depth industry expertise of our team. We know capital markets, and we have deep insights into how other industry players are using software to achieve best results. That means we can really help you interrogate your specific needs to figure out what’s going to be important and effective for you, and what isn’t.
This ensures we can take a targeted approach to any bespoke aspects of the product that you require, saving you time and managing the costs of development work.
Additionally, we’re always looking to grow and improve the Singletrack platform, and a key part of that is building client needs into our product roadmap. You will be part of a thriving community who work with us to ensure we are always adding the best enhancements to the solution.
Your data is the backbone of how Singletrack works for you, and it’s essential to get the most out of the platform. But many prospective clients are concerned that their data is in a bit of a mess, and wonder whether they’ll need to tidy up before beginning to work with us. The answer is in an ideal world yes, however, there are options in the way you address this.
This will be a collaborative process: at one level we can do things like search for duplicate accounts. We work with you to understand the business aspects of your data such as who are the top clients where you focus most efforts, who should be prioritised in having great clean data. This is often a relatively small number of accounts – maybe 300 – so can be prioritised. The accounts who are more akin to prospects, where the data may be stale, can be handled and cleaned using third party data sources, for example.
If you need more help, Singletrack’s white glove service means we take on the work of cleaning up and organising your data so you’ll be ready to go, achieving great results with the platform. You can even select this part way through the project if other priorities mean you need help in this area.
When I think about the key principles for a Singletrack implementation, four main pillars come to mind:
Ready to take the next step and see what Singletrack could do for you? Book a demo now.