Oakbrook Solutions

When clients hear the word CRM (Customer Relationship Management) they cringe. The term (which started in banking as CIF), has come to be associated with overblown expectations, more administrative work, and oversight by management who may lack an understanding of the CRM system itself. This has translated into an overall bad reputation for CRM vendors and applications.

But this is changing.

Clients and advisors now realize to appropriately nurture and grow relationships, the functionality that CRM’s bring to bear is valuable. CRM systems are now integrated in better ways with MS Outlook, easier to use, are web enabled, and some even include mobile capabilities. All this translates into CRM systems entering a “golden age” where all wealth managers and advisors migrate to a CRM system that realize the dream envisioned many years ago.

One word of caution – as CRM systems proliferate don’t think that the data found in the CRM will solve all of your data problems. Many CRM vendors are going beyond CRM data to try and facilitate other business functions – be wary of that.

CRM is a place where significant technology gains and changes may be realized. You want to be in a position to change CRM applications if new technology arrives. If you implement other functions beyond CRM within the CRM application, you can potentially lock yourself into an application that you wish to change in the future. Focusing on the functionality and capabilities of the CRM application itself will provide you with the best opportunity to adapt when new technology arrives.

We call this concept “application neutrality”.

Contributor: Craig Cook, President

If your goal is to secure full-time employment, locating a consulting opportunity gives you the ability to showcase your strengths and establish yourself within a specific department. Project related opportunities are typically highly visible throughout an organization and can be the perfect opportunity to show the right people what you are capable of.

First time consultants can feel a sense of relief in dealing solely with the tasks at hand, staying above the politics existing within all organizations. Consulting opportunities have been on the rise in the financial services industry and although they may come with level of anxiety questioning “what’s next”, they may also be the positive change you’ve been looking for! Even a short-term engagement can lead to a longer-term opportunity.

Could it be time to consider a consulting opportunity on your path to success?

Contributing author: Tim Buhler, Senior Relationship Manager

As Oakbrook Solutions engages in integration or system interface related projects we continue to run into the same “green screens” on client site. Although some areas have created front ends to mask the underlying technology, major changes are sometimes needed in integration or interfacing work that is done behind the scenes. The need for resources with skills around “old” technology is ever apparent but is it time for financial institutions to consider major shifts in technology platforms?

We all know the ROI on the change could be difficult to justify but the benefits of the move could be realized over time. As the US workforce ages, so does our clients ability to replace “hands-on” experience. As a niche consulting firm, Oakbrook Solutions understands the value of this type of knowledge and experience. That said, migrating to new technology can be accomplished with the right leadership, focus, and execution.

Is it time to begin the migration?

Contributing author: Tim Buhler, Senior Relationship Manager