UK Financial Services Sector Leads Adoption of CRM

Competitive nature of sector compels companies to harness effective client management; build client loyalty, provide targeted services

Northampton, UK — August 25, 2006 — Sixty-two percent of customer relationship management (CRM) users surveyed in the United Kingdom think that the financial services sector, compared to any other, is leading best practice when it comes to client management. That is according to a survey of CRM users commissioned by CDC Software, a global provider of enterprise software applications.

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

Mark Carlile, managing director of CDC Software, EMEA, commented: "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 maximize the profitability and longer-term value to the business of their clients."

Carlile added that other industry sectors in the UK should look to the example set by the UK's financial services sector and the real business benefits that can be realized from the adoption of best practice methods delivered by effective CRM systems and technology, such as increased visibility of operational performance, streamlined process across the value chain, and the provision of business information in real time.

For an in-depth look at how Nortel Networks is increasing the effectiveness of its lead management program, see the SDCExec.com article "Closing the Sales Loop at Nortel Networks."