|By Marketwired .||
|December 1, 2016 09:00 AM EST|
SAN DIEGO, CA -- (Marketwired) -- 12/01/16 -- Facing regulatory pressures and changing client demographics, asset management firms are prioritizing operational efficiency as the key to growth in 2017, according to Seismic, the leading enterprise-grade sales enablement platform. In a survey of more than 100 employees in marketing and client-facing roles at 37 asset management firms totaling $14.8 trillion in AUM, 40 percent of respondents stated that improving operational efficiency is the top goal for their firm in 2017.
When asked how a more efficient operation would improve their firm, 70 percent of respondents indicated that it would result in freeing up time for employees who are now engulfed in rote, monotonous tasks to focus on more high-value activities. Sixty-three percent said greater efficiency would help bring in new clients. Budget and resource optimization (36 percent of respondents), client retention (36 percent), and recruiting (20 percent) filled out the top responses.
Finding ways to streamline current processes was the most frequently cited opportunity for increasing efficiency (64 percent of respondents), and 62 percent indicated that they plan on investing in new technology platforms. Such technologies include:
- Content management systems (40 percent of respondents)
- Customer relationship management solutions (38 percent)
- Content automation platforms (32 percent)
- Data analytics (22 percent)
"A modern and scalable financial institution -- one that is best positioned for growth in 2017 -- requires having the right technologies in place, supported by the right people and processes," said Craig Dunham, VP and GM of financial services at Seismic. "Whether it's through the automation of previously burdensome tasks or by leveraging data analytics, firms that take the next steps towards becoming fully empowered by technology are the ones that will capitalize in both the near future and the long-term."
Mobile takes precedent in the new year
The survey also gauged asset management firms' perspective on the mobile client experience being provided to their clients. Currently, half of respondents stated that between 25 and 75 percent of all client-facing content is being delivered via a mobile application, with only nine percent stating that their firms were delivering content via mobile applications at a greater rate.
However, the survey results also found that these numbers are going through a major change. Seventy-seven percent of respondents said that the amount of content delivered via mobile device increased in 2016, and 85 percent say that number will increase again in 2017.
"Mobile technology has been a disruptive force across client communications in all industries, and asset management is no exception," said Dunham. "Firms need to invest in technologies that allow them deliver information to clients wherever the client is, on whatever device the client prefers. Without such capabilities, firms will quickly find themselves significantly behind competitors."
For more information on the state of efficiency and automation in asset management firms, along with how Seismic is helping automate important client-facing collateral, visit the company's website here.
Seismic is the leading end-to-end sales enablement solution for institutional financial services firms worldwide. Seismic's platform gives asset and wealth management firms and business banks the ability to deliver the right client content at the right time, facilitating a world-class client experience. With Seismic, marketing teams are automating the personalization of client-facing materials via Seimsic's award-winning LiveDocs® technology, which are then automatically accessed by distribution teams at any time, on any device, and always fully compliant, allowing them to spend more time developing and nurturing client relationships. Headquartered in San Diego and with 210 employees across the globe, Seismic is privately held by its founding executive team and investment firms General Atlantic, JMI Equity, and Jackson Square Ventures.
For more information about Seismic's end-to-end sales enablement solution, please visit www.seismic.com.
Seismic Media contact
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