Back to all announcements

Citisoft Survey Reveals Renewed Focus on Sales and Marketing Within Investment Management Firms

- Citisoft publishes results of most in-depth survey by an independent consulting firm in to sales and marketing process ("distribution") in the asset management industry
- Survey finds asset managers failing to capitalise on business opportunities due to operational inefficiencies

15 April 2004 - Citisoft, the specialist investment management consulting firm, has today published the results of its in-depth survey into the area of distribution, the sales & marketing methods by which asset managers produce and circulate information about their products. The survey was conducted amongst a number of global investment management firms with combined assets under management of over USD 2.3 trillion (GBP 1.3 trillion).

The survey highlights the operational changes that are occurring and the renewed focus among firms on winning new business and putting in place systems and procedures to facilitate this drive. Other key findings of the survey include the fact that firms are failing to maximise opportunities by spending too long on the assembly of product information rather than the quality of data. Some of the firms surveyed admitted to having lost prospective business due to inaccurate or incomplete data.

Howard Mannion, Assistant Director, Citisoft plc, London, confirms this, "This survey clearly demonstrates that, after a number of difficult years, leading firms are focusing their energies on improving their sales and marketing efforts. As a result many firms are undertaking strategic operational, process and system changes, to drive revenue as well as cut operational costs."

Companies are moving at different speeds when it comes to the issue of distribution, according to the survey. Some firms recognise the immediate need to drive sales and marketing and are changing their organisational structures to ensure a focus on each part of this process, including managing databases, producing fact sheets and presenting information on company websites. The summary of the survey warns, however, that excessive manual entry and drawing data from multiple sources is still leading to inconsistency that firms quite often do not have the time to identify.

"In Citisoft's observations, the capabilities that are traditionally lacking in these organisations include the presentation to each target market, such as retail, institutional and high net worth, of a coherent, co-ordinated identity and a well-defined set of products" suggests Dan Houlihan, Managing Director of Citisoft Inc, Boston.

Jonathan Clark, Director, Citisoft plc, London, adds, "Citisoft has gained extensive experience of the organisational and technological issues across all areas of investment management. This survey highlights the fact that distribution is an area of growing importance and Citisoft is pleased to be working with a number of leading investment managers to help them realise the benefits of more efficient sales and marketing processes."