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CRM application for investment banking (of-the-shelf & in-house)
Experts,
I am looking for an efficient CRM application for investment banking. I work in an investment bank that is not happy with the in-house developed application.
1- What of-the-shelf applications do you recommend?
2- What are the advantages/disadvantages, and limitations of handling our CRM in an in-house developed application?
3- I need a comparison table that illustrates the difference between of-the-shelf & in-house CRM applications.
I am looking for an efficient CRM application for investment banking. I work in an investment bank that is not happy with the in-house developed application.
1- What of-the-shelf applications do you recommend?
2- What are the advantages/disadvantages, and limitations of handling our CRM in an in-house developed application?
3- I need a comparison table that illustrates the difference between of-the-shelf & in-house CRM applications.
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Hi,
The main issue with in-house development of a solution is that it will cover your basic needs at a certain point in time but it will very quickly become a problem (in term of ressource and cost) because of:
- Support
- Enhancements requests
- Compatibility with newer versions of Office/Windows
- Scalability
- etc...
The bottom line is your company does investment banking, not software development! Specialised CRM application companies have hundreds of R&D people working on developments all year round and you have the assurance that the product will grow and offer a lot more than what you could do internally even with the best intentions.
Financial companies can gain a lot by using a good CRM software specially if as mentioned above by Steve, the software already has a "financial vertical" which will cover 90% of usual requirements out of the box. Also you need to make sure that the 10% missing can be implemented quickly and that the people you deal with have an understanding of your industry. Have a look at the following link about Pivotal CRM, it's a product I know well and which financial vertical is quite successful at the moment:
http://www.pivotal.com/industry/financial-services/default.aspx
You can download white papers from the site.
I hope this helps.
Regards,
Mat