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New White Paper Discusses Unique CRM Requirements For Relationship-Based Financial Services Firms

Relationship Intelligence essential for investment banks, venture capital, asset management, wealth management and similar institutions

OAK BROOK (IL), 14 July, 2003: According to a new white paper issued today by Interface Software, the CRM requirements of relationship-based financial services institutions such as investment banks, venture capital, asset management and wealth management firms are unique and, as such, are not being well-served by the traditional, horizontally focused CRM providers. The ground-breaking white paper, "Relationship Intelligence: A Financial Services Institution's Path to Winning in a Tough Economy," identifies the critical business challenges currently facing the relationship-based financial services sector, and the type of intelligence required of a CRM solution to overcome these challenges.

The white paper cites some common CRM requirements of these firms, which include the ability to track and manage complex relationships as well as experience and expertise capital—knowledge relating to who knows whom, who knows what, and who knows how.

"At the high end of the financial services marketplace, relationships can often make the difference between winning and losing," said Barry Solomon, Interface Software's executive vice-president. "Moreover, being able to track and manage the collective experience and expertise of the firm's professionals is critical to execution in every area of the business—from assembling deal teams to cross-selling and up-selling effectively."

In light of the unique challenges of investment banks, venture capital, asset management and wealth management firms, the white paper identifies Relationship Intelligence as essential for CRM success within these organizations. Relationship Intelligence is defined as 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.

The white paper examines how Relationship Intelligence can be leveraged within financial institutions to impact strategic objectives, such as cost cutting and efficiency, client retention and profitability. It also examines Relationship Intelligence from an ROI perspective, providing specific examples of how firms benefit from this knowledge asset in a real-world business setting.

"This white paper does more than differentiate the financial services industry from other sectors of the business economy," said Solomon. "It also examines the relationship-based segment of the financial services market and its unique and distinct needs."

A copy of the white paper can be requested at the following URL: www.interaction.com/FinServWP.

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. Interface Software has received numerous accolades, including the Inc 500, the Deloitte & Touche Technology Fast 50 for Greater Chicagoland, the Deloitte & Touche Technology Fast 500 and the Upside Hot 100. For more information please visit Interface Software's website at www.interaction.com.

 
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InterAction, Watch List, Who Knows Whom and Relationship Map are trademarks of Interface Software, Inc. and may be registered in certain jurisdictions. All other product and company names mentioned are the property of their respective owners and are mentioned for identification purposes only.