UK financial services best at client management

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By: Wise Marketer Staff |

Posted on September 1, 2006

The financial sector in the UK is leading best practices in using CRM to manage its clients; now is the time for other industry sectors to follow this example and respond to the changing needs of customers.

According to a survey of CRM users commissioned by CDC Software, a provider of enterprise software applications, 62% of CRM users surveyed in the UK think that the financial services sector, compared to any other, is leading best practice when it comes to client management.

According to those surveyed, the financial services sector is a clear leader in the implementation and utilisation of CRM within their business. This is followed by the legal sector with 32% and the hi-tech sector with 6% of the vote.

No surprise
Mark Carlisle, managing director of CDC Software, EMEA, comments: "The results really don't come as a surprise to us as it is often our financial services customers who are the first to implement new CRM technologies and systems. Due to the very competitive nature of the financial services sector, financial services companies know how important it is to fully harness the power of effective client management; to build client loyalty, provide more effective and targeted services and ultimately ensure they maximise the profitability and longer term value to the business of their clients."

Adopt best practices
Carlile advised other industry sectors in the UK to look to the example set by the UK's financial services sector and the real business benefits that can be realised from the adoption of best practice methods delivered by effective CRM systems and technology.

Benefits such as increased visibility of operational performance, streamlined process across the value chain, and the provision of vital business information in real time that enables organisations to react quickly to cross and up-sell opportunities and respond to the changing needs of their customers.

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