Travelex chooses for CRM

~ opts for software-free solution to support global salesforce ~

Travelex has standardised global operations on’s online CRM solution. It has already realised cost savings of over $300,000 in its Corporate Foreign Exchange Division, and improved sales force efficiencies and closing ratios.

The leading provider of foreign exchange and international payment solutions was dissatisfied with the incumbent software from Siebel Systems. Siebel also estimated upgrade costs at $400,000, plus database administration and implementation expenses. Consequently, Travelex decided to re-evaluate its CRM technology. It wanted a solution that would lower its total cost of ownership, improve ease-of-use, and increase end-user adoption.
Travelex selected’s online utility model over software packages from Siebel and Goldmine. Now Travelex easily supports its distributed global operations without requiring additional IT resources.

"’s online model solves implementation and synchronisation pain without burdening our IT department," said Mike DeSimone, director of business solutions at Travelex in North America. "Travelex is regionally managed but globally co-ordinated, which makes it easy to get buried in the massive project of trying to implement CRM on a global scale. went out and picked the best business problem to solve by being an ASP solution; CRM software just doesn’t work in comparison."

Following its March 2001 acquisition of Thomas Cook Global & Financial Services, Travelex inherited a costly and IT-intensive Siebel Systems implementation. Various factors, including complexity, focus and the departure of project personnel, made the system difficult to use and maintain.
The Corporate Foreign Exchange Division elected to deploy’s cost-effective, online CRM solution to get a complete view of the customer. Travelex decided to make its global standard and integrated the application in-house to provide a comprehensive view of client information and data warehouse statistics. The management team analyses customer trends and attrition through the same intuitive interface.

"CRM software vendors typically downplay the soft costs and IT obstacles involved in implementation projects," said Marc Benioff, chairman and CEO of "So companies purchase systems in good faith, and are left hanging years down the line. delivers immediately, online, without any hidden expenses or IT complications."

Companies are switching to, driven by frustration with the costs and limitations of client/server software. Divisions and workgroups within large companies are implementing in spite of corporate mandates to use legacy CRM software. Given the quick success seen with, usage is growing virally - to more than 5,700 customers and 75,000 users worldwide - as executives switch from enterprise software to online CRM success.

For further press information, please contact:
Debbie Silton or Caroline Hulett at LEWIS, global marketing and media relations consultancy Tel: +44 (0) 207 802 2626 Fax: +44 (0) 20 7802 2627
or Amanda Fennell, marketing manager at EMEA
Tel: + 353 1 272 3517.

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