Cave and Sons Case Study

Industry: Finance

Solution: Business mobiles

Location: Milton Keynes 

Our customer

As a business providing stockbroking, investment management and financial advice services to private clients, trusts and charities, Cave & Sons rely heavily on being able to connect to their clients regularly and securely.

Background

With the need to comply with MiFID 2 regulations, Cave & Sons needed a secure phone system with the ability to securely record and retain client conversations, via a tamperproof format. Additionally, they rely on strong internet connectivity to enable their business operations to run smoothly. Using dbfb, the team at Cave & Sons have been able to deliver a highly secure service to clients, while contributing to the overall profitability of the business.

Challenge

Cave & Sons were using an old telephone system and directors’ mobile phones, offering very £2,600 leased line savings per annum*.  With ISDN30 technology becoming unsupported in 2021 and obsolete by 2025, they were paying ‘pence per minute’ rates on calls. As well as the system not being cost effective, the old legacy recorder had no portal access. With no disaster recovery in place in case of an emergency, the system was not at the standard it needed to be for their business. Leased lines, expensive pricing structures, inconsistent service levels and a lack of knowledge from previous suppliers, resulted in the need to move their services to another supplier. There was an evident breakdown in the existing communication and service. Cave & Son’s telephones and mobiles were already with dbfb, so they had an existing relationship with the team and valued the level of service delivered. They, therefore decided to move more services over to dbfb.

Solution

To keep up with regulations within the industry, as well as with the modern world of evolving technology, Cave & Sons selected an internet-based system. Opting for CityFibre’s ultra-fast internet, will enable the business to run more efficiently via a faster connection, save on expensive connectivity costs as well as future-proof the business. In addition, they chose to upgrade their phone systems to enable the business to easily add new users without an extensive, costly upgrade as the business continues to grow. They are now equipped with a fully compliant Oak Call Recorder which is FCA regulated, a necessity for their business and easier to use than their previous phone system. With easy access to their portal, they can retrieve tamper-proof evidence of call recordings. Not only is this an industry requirement, but it also allows them to improve their call handling. To compliment this solution, they have an ADSL connection with automatic fail over and to route their calls over the internet, including 5000 minutes to landlines and 2000 minutes to mobiles, completely free of charge.

Key benefits

     Faster connection, keeping clients happy

     Simpler billing, all 4 UK networks billed through 1 online portal.

     Cost efficient, supporting business profits      

     Stress-free, dbfb manage the services

Results

dbfb provided NHBC with the mobile and data service they needed to operate their growing business smoothly. Poor call connections, as well as dealing with multiple providers to resolve the issue are now a thing of the past. Replaced with a multi-network mobility partner, with contractual flexibility, single source mobile management and billing, has meant NHBC can relax knowing everything is taken care of.

“dbfb are efficient, reliable and offer great customer support!”

Ed Caswell, Associate Director & Investment Manager, Cave & Sons

 

With the implementation carried out by dbfb, processes have become more efficient and the communication between Cave & Son’s team and clients, has become easier, and more secure. Results include significant savings using dbfb’s services, including a leased line saving of £2,600 per annum* and savings from the capped monthly calling costs. Profitability continues to improve at the business, which they say dbfb has contributed towards. On top of this, the switch to CityFibre’s internet, has improved immensely from 80/90mbps to 700mbps, contributing to the running of Cave & Son’s day-to-day operations. The team at Cave & Sons would proudly recommend dbfb for our customer service levels, competitive pricing and extensive and impressive product range.