LexisNexis

Investment Bank Duff & Phelps Selects Interface Software's InterAction®

CRM tool's MS Outlook & Palm integration essential for centralizing firm's scattered data

OAK BROOK (IL), 5 February, 2002: Interface Software announced today that the Chicago-based investment bank and financial advisory firm of Duff & Phelps has purchased InterAction, the leading CRM solution for financial and other professional services organizations.

The firm will leverage InterAction to aggregate the Relationship Intelligence that currently exists scattered across its four offices nationwide. Relationship Intelligence is an intangible yet vital firm-wide asset that reveals the unique and complex connections between people, companies, relationships, experience and expertise. Having access to this information will give Duff & Phelps the ability to leverage who and what they know for business development, cross-marketing, enhancing client service, communications and other initiatives.

Duff & Phelps had been using another CRM package, however that system's inability to track and manage complex relationships necessitated extensive customization, the maintenance of which became unmanageable. "We had made so many changes to the software we could no longer upgrade when new releases came out," said Lee Bloom, managing director of Duff & Phelps.

Moreover, Duff & Phelps' existing CRM package could not integrate with Microsoft Outlook and the professionals' Palm devices. As a result, valuable contact and relationship information was scattered among individuals' contact managers and could not be leveraged for firm-wide advantage. "It created many problems," recalled Bloom. "Sending out mailings and holiday cards was a nightmare. The data was everywhere, and we knew that duplicates would be sent. It was an enormous waste of resources and threatened to impact our image."

By contrast, InterAction's unique focus on professional services organizations and powerful, user-friendly functionality made the system a natural fit. "InterAction was the only package we looked at that had the right combination of features and usability," said Bloom. "We needed a system that our high-level professionals could use without much training or ramp-up time and that could be maintained by our small IT staff."

InterAction's ability to integrate seamlessly with Outlook and Palm was also decisive. Duff & Phelps' professionals will be able to continue using the applications they are comfortable with, while at the same time contributing automatically to the centralized data repository thanks to InterAction's advanced Relationship Discovery functionality. "Without the integration, you run the risk that professionals may not use the CRM system," said Bloom. "With InterAction, we will be able to capture all of our Relationship Intelligence and leverage it across the organization without requiring our professionals to change the way they work."

Many investment banks and other professional services firms suffer similar data hardships as Duff & Phelps. According to Rick Klau, Interface Software's vice president of vertical markets, this explains the high demand for InterAction, notwithstanding today's sluggish economy. "Professional services firms have unique Relationship Intelligence needs that traditional, products-based CRM packages cannot address. InterAction is the leading solution in the marketplace to address those needs. This is reflected in our record 2001 sales, which increased by more than 50% over the previous year."

About Interface Software
Interface Software is the leading provider of CRM solutions, enabling professional services firms to create the Relationship Intelligence they need to generate new business and enhance client service. Its flagship product, InterAction, is a flexible and uniquely designed platform that delivers this Relationship Intelligence throughout the organization, quickly, efficiently and cost-effectively. Relationship Intelligence is a firm-wide asset that reveals the unique and complex connections between people, companies, relationships, experience and expertise, empowering professionals to leverage who and what they know to uncover new revenue opportunities, differentiate themselves from the competition and enhance client service. InterAction is internet-enabled, allowing professionals to view information however they choose-through knowledge management platforms, corporate portals, intranets, extranets and wireless devices. For more information contact Interface Software, Inc. at 1420 Kensington Road, Suite 320, Oak Brook, IL 60523, Telephone: +1.630.572.1400, Website: www.interaction.com. In the UK, contact Dan Von Weihe, National Sales Manager, at 38 New Oxford Street, Suite 204 London, WC1A 1EP, United Kingdom, Telephone: +44.(0)78.7057.1234, Email: Dan.VonWeihe@lexisnexis.com.

About Duff & Phelps
For nearly three generations, Duff & Phelps has been a leader in investment banking and financial advisory services. Highly respected for consistently delivering exceptional quality, Duff & Phelps possesses expertise in middle-market mergers and acquisitions, private placements, fairness opinions, valuation, ESOP and ERISA advisory services, and specialty financial advisory services. www.duffllc.com

InterAction is a registered trademark of Interface Software, Inc. All other product names mentioned are trademarks or registered trademarks of their respective owners.