CRM providers have to demonstrate their expertise in the securities industry before prospective clients will take a closer look at the technology architecture, deployment options, and ability to integrate with third-party applications.
No single vendor has all of the CRM functionality needed to address differences in firms' size and business complexity in the institutional securities industry.
TowerGroup recommends that buyers perform as much due diligence on a CRM reseller as they do on the core CRM technology to determine the best fit for their size of firm and the type of business conducted.
Vendors will find it challenging in 2009-10 to attract top-tier investment management firms and institutional broker-dealers because these prospective clients have limited budgets for large-scale CRM implementations.
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