Since 1742, London-based Rathbone Brothers PLC has been consistently successful in providing investment and wealth management services for private investors and trustees. The business has flourished for two-and-three-quarter centuries by constantly keeping abreast of change.
A judicious investment
In their marketing function, most recently, this has been in the adoption of digital technology to transform old processes. Rathbones had been running its marketing production with a paper-based system for sign-off and approval. But with so many different parts of the business involved in regulatory and compliance approval, the process was getting ever more cumbersome, as well as facing greater risk from human error.
So marketing operations manager Cole Walker set out to find an automated solution to the problem.
The Brandworkz offering
Rathbone Brothers PLC marketers generate content for multiple channels simultaneously, both in print and digital. At the same time, they are concurrently running many marketing production projects, often requiring multiple iterations in the creative process.
Cole saw that the Brandworkz solution would offer a highly configurable and flexible workflow system and compliance management solution; as well as enabling the marketing team to manage their marketing content and ensure consistency across channels.
Brandworkz worked with Cole to map an automated compliance workflow process, the longest one comprising 57 steps. These steps branch off to give marketing, compliance and subject specialists input in the approval of artwork and, most importantly, create an accurate digital audit trail.
The Brandworkz software has two essential elements for marketers in financial services, insurance and other regulated industries. One is the workflow tool that enables collaboration, review and approval in the marketing production process with input from stakeholders including legal, regulatory, and marketing teams. The other is its digital asset management engine that allows users to store, manage and distribute approved materials and documents securely.
Counting the outcomes
Workflows are now configured precisely to match the needs of the business, while the platform is fully branded with the firm’s identity and corporate colours. The process of transformation to digital from a paper-based process is reaping rewards:
- There is full visibility for compliance across all projects.
- Approvers are notified of upcoming projects ahead of sign-off time.
- Resources can be re-allocated and urgent approvals sought, should someone in the process be unavailable for approval.
- Compliance can monitor all content that has gone live against what was signed off.
- An automated workflow makes it impossible for anyone to skip a step, ensuring processes for marketing projects are followed through to completion.
Rathbones marketing operations manager, Cole Walker, is delighted with the Brandworkz solution to what had become an increasing headache. He says: ‘The chance of user error in marketing production approval is hugely reduced and the time and effort required to gain approval for documents in what is a heavily regulated industry has also been minimised.’