HOW TO MIGRATE TO YOUR NEW FOREX CRM PROVIDER SEAMLESSLY?

It is tough to change one Forex CRM to another if you do not know how the migration procedure goes. Forex CRM provider might look good from outside, as well all know it is the inside which matters the most.  Several questions that arise in the mind of the CRM users are as follows, Will the tech you’ve seen in the presentations you’ve had work in reality? Will your data appear in the way you need it?

It’s a trying time for the brokers to decide to take the plunge with a new Forex CRM provider. They wrought with stress; anxiety due to the unknown facts as a whole. The pressure to choose the right CRM provider for the migration to go successfully within a specific deadline is immense. That is why it’s so important that you put your brokerage in experience hands with CRM providers who have the expertise and know-how to get it right. Below are some of the factors that you need to know to have a fast, seamless, and successful migration process.

• Ask the Right Questions

The very first thing you should know when migrating from one Forex CRM to that of another is not that difficult if the company you’ve chosen to move had experience with moving other brokers. Some questions you may want to ask your new provider are; how many companies have you migrated in the past years? What problems have you experienced in the past when migrating data? What guarantees do I have that you won’t lose our data during the migration? How do you check the migration was successful? Do you have references from other companies you have migrated to your Forex CRM that I can speak to before making my final decision?  A forex CRM provider should be able to resolve all your queries, and provide you with references, and set your mind at ease.  If your CRM service provider struggles to answer any of the above questions, solid facts, and pure confidence, then always keep looking for the right one.

• Know the Process

The second thing you need to know is the exact process before taking a decision. How is migration done? What do I need to check and focus on during the overall process? It seems like an obvious thing to point out before moving from one CRM to another, but believe us when we say that you’d be surprised how many companies are clueless? when it comes to how migrations are done and disappointed when things go wrong. Not knowing the migration process and dealing with inexperienced providers is nothing but can lead you to disaster – and sadly, is where a good chunk of our business comes.

• Know the Timeline:

Once you’ve decided on your new Forex CRM, you want to move, and as we know! There’s not a single broker who tells us to take our time! You’re excited about all the money you’re about to save, developer resources you can allocate elsewhere, and how much faster you’ll grow with the right tech behind you. In reality, a good CRM software provider will give you an accurate timeline for the move. If you want to move with 500k worth of client data and documents, it gets done in a month, then think carefully. Successful migrations need time and lots of cooperation.

The team needs time to check that nothing is missing and know how to use the new CRM software.  Your clients are about to get informed about appropriate things to make them aware of a change and that all tests have been done with no errors (such as registering, depositing, withdrawing) before you give the final ok. As you can imagine, this doesn’t take a day. Your CRM provider should be able to look at your current CRM and give you a proper timeline estimation. At Trade Soft, we provide a month time for migration, depending on the size and the current state of affairs with the CRM provider they are already using. We’ve moved brands with less than 1000 clients and brands with over a million. No brokerage is too big or too small to move to a better CRM.

• Know the Details:

Once you know the timeline and the migration process, it is easy to go through the points, and then you can make the switch. There would be lots of questions in your mind, and you can clear them at once. How will your data be matched? Are there other outsourced providers you’re using? Is your new CRM provider integrated with those already, or should they integrate them? Are there additional costs associated with that? Will that delay the migration process? Does your new CRM provider integrate the PSPs you use, or that need to be done too? Is there an additional cost for that? How long will it take? A lot to think about, and these questions are just a drop in the bucket of things that need to be thought out properly and considered during the migration process.

They must explain to you exactly how your data gets matched. Also, identify where there is a mismatch of information and what will happen if you have data but don’t have the field.  We can customize it if you have data. Likewise, with certain work-flows, your clients or employees have become accustomed to which you either created yourself (if you have your CRM) or recreated by your previous outsourced provider.  Your new CRM provider should be able to create and add those too at once.

• Always Choose Wisely:

Moving CRM providers is one of the tough decisions you’ll make as a brokerage, and if you get it wrong, it can cost you not only financially but in terms of the speed and capacity in which your brokerage business is growing. Flexibility is the key when choosing a new CRM provider, and the right one should be able to customize and add things that are important for you. You don’t need to know every little detail when it comes to migration, and it’s not in your expertise, nor do you have the time to learn every step taken while running a brokerage. Always choose a provider that can concisely outline the main points for you. Thus, asking the right question and has vast experience in the migration of Forex CRMs should be your number one priority.