InterAction for financial services firms

Added: 12/15/2005

The financial services marketplace is rapidly changing. New competitors reshape the market and the regulatory also changes. Venture capital, investment banking, private equity and other financial institutions are still developing and enhancing the overall sales process. At the same time, they are struggling with ways to cut costs, increase efficiencies and manage a prospect.

In order to uncover new business opportunities and enhance an overall client service, it is necessary to be able to leverage who in financial services firms knows whom, who knows what and who knows how. Financial services firms must build their internal competitive intelligence and make this information available instantly to every professional. It will enable them to build a competitive advantage.

At most financial institutions, this intelligence is scattered throughout the organization. It leads to its virtually uselessness. It may reside in the minds of firm professionals, in disparate databases or in countless contact managers. The problem can be solved by InterAction.

Being one of the best client relationship management solutions, InterAction empowers financial services firms to transform their scattered data into Relationship Intelligence. Relationship Intelligence is a firm-wide asset that reveals the unique and complex connections between people, companies, relationships, experiences and expertise. It is Relationship Intelligence that helps professionals leverage who and what they know to uncover new revenue opportunities and close deals. Deal makers, analysts, asset managers and other financial professionals can quickly and easily mine InterAction's Relationship Intelligence for the competitive advantage.

They need to:

· Identify the right parties to make deals happen.

· Define and track investors according to specific profiles.

· Leverage internal employee experiences and expertise.

· Streamline business development and market functions, as well as the financial services report.

· Cross-sell products and services across departments and divisions.

· Set up "ethical walls" to protect sensitive client information.

· Make this Relationship Intelligence available on personal digital assistants (PDAs), via the Internet, and on laptops.

· Integrate with other legacy and back office systems to provide a full, 360° view of client relationships.

A key to the success of financial services firms is cultivating relationships that result in referrals and repeat businesses. Due to InterAction, firms can maintain the competitiveness and improve the productivity. It can be done through the collaboration and information sharing.

Tracking deals is a critical need for any financial services firm. It does not matter whether you are evaluating a potential investment, managing the merger or acquisition of a client or selling investments. Firms can integrate the management of deals into InterAction, which will enable them to track opportunities by the client and leverage firm, the personnel experience and expertise to increase the likelihood of securing a new business. The interconnections between people, companies and deals can be identified and exposed by InterAction. It enables professionals to influence this firm knowledge for the competitive advantage throughout the life of a deal.

Rate this article:

Bad

Good

Article comments:

No comments for this article yet. Post your comment now!

Return to top of the page