What's the Big Deal with CRM?

Sophisticated clients demand sophisticated service and they recognize the difference between a firm that understands the intrinsic value of offering a high-touch experience and one that doesn’t. As a hedge fund professional, how can you balance the scales of responsibility between your core business function – investment management – and your other obligations as relationship builder, asset gatherer and people manager? While there is probably no perfect answer to this question, the tactful use of human processes and information systems can make finding the solution that works best for you, your clients, and your partners much easier. This is the promise of Customer Relationship Management (CRM).

 

At its core, customer relationship management (CRM) is about staying on top of the relationships you have with your customers – existing and prospective alike – for the purpose of delivering personalized, consistent, and effective service. Whether it’s based on software or not, the truth is that every business already has a CRM in place. For many, their CRM is a spreadsheet, a few notebooks scattered across a cluttered desk, and a jumble of mixed memories locked away inside the heads of employees. There is a better way!

 

The Backstop platform delivers a suite of scalable business and relationship management software tools designed specifically for fund managers like you. Backstop helps companies to implement a full-fledged CRM strategy, supporting human processes, work flows, and interactions through powerful, easy-to-use technology. The result?

 

Our clients consistently report that with Backstop they are able to:

• Raise more assets, increase productivity, simplify administrative workflow, and get more done for less money
• Centralize (finally!) the location of their firm’s front to back office intellectual property
• Deliver the high level of personalized service required to effectively manage their customer and other business relationships

 

CRM is an overarching business strategy that should help you learn more about your investors and their behavior so that you can build better, longer lasting, more personalized relationships with them. Successful CRM involves many different areas of your company from sales & marketing through to research, accounting, investor services, and administration. The Backstop platform incorporates solutions for all those areas, and more.

 

It’s been said time and time again, “Good fund managers don’t get dumb they get distracted.” You are in business because you are good at making investment decisions, let Backstop help keep you from getting distracted.