Investment Management - Overview

Documents with lower costs, higher productivity, greater engagement

Fundamental to the success of Investment Management companies are the issues of Operational Cost-Effectiveness, the relevance and sophistication of Products, providing better Customer Service and meeting increasing Regulatory obligations. Add to that the challenges of higher user expectations, rapidly changing technology and increased competition - and it is evident that innovation is vital to gaining more market share.

With many Investment Management products, the main touch points for customers are contact centres and written communications. The emails, letters, reports and general correspondence are in effect the organisation’s ‘calling cards’. These, plus the contact agents' performance and the effectiveness of your self-service capabilities, largely determine your customers' perception of service, their sense of being valued. Only a few leading businesses manage their evolving, large-scale Customer Communications Management (CCM) requirements in a way that makes them more efficient and stand out positively from their competitors.

The right choice of document creation, output management and live search integration technologies is a key infrastructural component. But to maximise this potential, you need an organisation skilled in the integration of people processes, information management disciplines and systems implementation. At icon^uk, we specialise in these areas. We create customised solutions with document automation software that drives the transformational improvements in customer service, compliance, revenue generation and cost-effectiveness that our clients need. Explore the tabs further to discover how.

Investment Management - Key Benefits

The benefits of a efficient documents from a comprehensive, responsive and properly implemented Customer Communications Management (CCM) strategy are clear:

Enhanced Market Share - differentiate your business propositions ahead of competitors. Bring all customer information together at the point of use. Produce immediate, relevant and accurate bids, quotes and contracts, delivered through internet, print, SMS or other relevant channels - whether you win new customers through marketing-led self-service, field sales or call centres.

Increased Customer Retention - savvy customers expect to be able to access their records quickly and easily. They expect them to be accurate and complete. Organisations which consistently meet customer service expectations maintain the highest satisfaction ratings and retention levels.

Improved Staff Satisfaction - sales, service and operations staff need accurate, consistent, 360⁰ views of customer information to be able to respond to customer needs freely and safely in any correspondence. Providing staff with better means of responding to customers - without compromising legal, compliance, branding or business process constraints - increases staff satisfaction as well as productivity.

Reduced Costs - rationalise document creation and output systems across the enterprise to give direct cost savings in IT hardware, software, facilities, document-related staff, paper and postage. Exploit new capabilities through simplification of processes, generating further large savings.

The efficiency of business processes and the importance of Social, Mobile and e-Media technologies require a close integration of all document-related processes within the organisation. Key benefits include a strong Return on Investment, enhanced customer engagement, increased sales and reduced risk.. icon^uk document automation software and Customer Communications Management solutions can deliver these benefits ­ and more.

Investment Management - Uses

Communication with policy holders, financial advisers and other intermediaries is key to the financial services industry. In doing so, financial service organisations face numerous challenges such as the rise of passive asset management, increasing regulation (including RDR) and the transfer of power from asset managers to distributors - all at a time of rising costs.

Innovations are necessary in response to increasing competition on a global scale, Social Networking and consumer technologies and the frequency of legislative and regulatory changes. With changes in client expectations resulting in pressure on fees and proving value, organisations need to find new ways to control costs and improve utilisation levels. Existing investments can be leveraged with new tools such as integrated document technologies and smart information management processes.

The application of such Customer Communications Management (CCM) tools for documents is wide-ranging. Common use types include:

• Structured monthly, quarterly or annual statements, invoices and other scheduled materials usually produced automatically in batch mode.
• Interactive applications that can be used by call centre agents, administrative staff and field staff alike in dealing with customers (eg letters) or constructing collaborative documents.
• Self-Serve uses include on-demand applications where customers interact via kiosks or web portals (via fixed or mobile devices) to obtain status information, usage information, offers and the like.
• A full 360⁰ view of all enterprise information relevant to a particular situation - with access for use by call centre agents, administrative staff and field staff in dealing with customers and constructing rule-based, collaborative, binding documents.

Examples include:

• immediate confirmation of a new client policy issued via SMS, mirroring back to back terms issued by email and further batch print to a client manager, with optional subsequent digital signature document exchange.
• the rapid composition of a letter to a client advisor entity that contains all relevant details and current terms and conditions, referencing past correspondence, side letters, emails and conversations - together they form a complete memorandum  of understanding.

The focus on smarter processes and integrated enabling technologies enables unbiased advice, convenience and service excellence. The provision of appropriate personalised communications greatly assists client trust and relationship management. The prize is reduced operational costs, optimal use of existing capacity and increased efficiencies - all assisting profit margins.