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Don’t Get Stuck with the Wrong Wealth Management On-Demand CRM Solution

Financial services firms considering the purchase of an on-demand customer relationship management (CRM) solution should start their evaluations by keeping the following seven criteria in mind:

• Contact management. Does the CRM system provide lead and referral management capabilities? Can it track assets under management by household as well as portfolio? Does it support collaboration among investment advisors?
• Real-time and historical analytics. Although real-time analytics is important, historical analytics is also critical in enabling managers and executives to assess trends over time, such as wealth management advisor or team performance, the contact and asset management history for a customer or group of customers by region, or the effectiveness history of a particular marketing campaign.
• Usability. Is the on-demand CRM solution highly intuitive and easy to use, providing financial advisors easy access to a wealth of features with a minimum of keystrokes, which helps to ensure maximum user adoption and effectiveness?
• Integration capabilities. Can the on-demand CRM application easily integrate with other applications on the desktop, such as financial planning software and account management systems? Does the CRM provider offer a prebuilt, standards-based integration methodology for synchronizing front- and back-office applications at the data, business process, and user-interface levels?
• Single vendor point of control. A consolidated IT vendor relationship ensures one-call resolution to issues. Does the CRM provider offer the entire technology stack, comprising an industry-leading application, middleware, and database platform, plus its own highly reliable hosting infrastructure?
• Multiple deployment options. Although on-demand CRM is an increasingly appealing option for wealth management professionals, other operations within a financial services firm requiring highly customized application functionality might be better suited to an on-premise CRM offering. Does the CRM vendor give you a wide choice of on-premise and on-demand CRM deployment options, including the option of running your on-demand service as a privately hosted solution?
• CRM and wealth management domain expertise. How much experience in CRM does the vendor have? What percentage of the leading financial services companies will you find its solutions in?

Oracle’s Siebel CRM On Demand is the first hosted CRM solution enabling financial advisors to provide better customer service, increase wallet share, and improve lead and referral management effectiveness. And Oracle Applications, such as its Siebel CRM On Demand solution, are deployed at 10 of the top 10 securities firms, 5 of the top 5 mutual fund companies, and 4 of the top 5 world stock exchanges. Join the many financial services organizations that rely on Oracle for better business insight, adaptive business processes, and a superior ownership experience.

Find out more about Oracle solutions for wealth management.

Download the wealth management data sheet (PDF).

Achieving Results Through Greater Business Insight: Oracle Profitability Manager (PDF)

Business Process Management in the Finance Sector (PDF)

The Next
Generation—Progress in Core Banking Technology (PDF)