OAK BROOK (IL), 12 November, 2001: Midsize professional services firms increasingly are turning to client relationship management (CRM) applications in this soft economy says Interface Software, developer of the popular InterAction Relationship Intelligence solution. Phoenix Equity Partners, a London-based based private equity firm is the most recent midsize firm to select InterAction.
Interface Software’s Vice President of Vertical Markets, Rick Klau, sees a growing trend in the number of middle tier firms that are viewing CRM software as a strategic necessity in a soft market. “It’s a fundamental business principle that market share must be defended vigorously in a stagnant or declining economy. For midsize professional services firms, that means greater attention must be paid to ensure that client relationships are being adequately cultivated and maintained. It also means they must be more effective in winning proposals for new business. We have played an important role in helping them achieve those goals.”
Steve Darrington, Chief Operating Officer at Phoenix Equity Partners, agrees. “Private Equity is a business driven by relationships, and this has never been truer than in the current economic climate. Phoenix Equity Partners uses the Relationship Intelligence in InterAction to ensure that its ongoing, business critical relationships remain positive, active and accessible to all the members of our investment team.”
In a marketplace characterised by fewer new clients seeking professional services, CRM software is also playing a critical role in helping midsize firms compete more effectively. David Hansel, Head of IP and Digital Technology at the 73-person, London-based law firm of Memery Crystal explains: “All other things being equal, leveraging personal relationships can often make the difference between winning a new client and losing. InterAction helps us track, manage and identify people with whom we have strategic relationships. If a firm contact exists that can help us win a new client, the system will reveal who that is, which provides us with a great competitive advantage.”
Hansel adds that because of the direct impact CRM software can have on the bottom line, it is precisely the type of investment midsize firms should be making in this economic climate. “Our firm doesn’t have an unlimited technology budget. So we needed to invest in systems that would provide a demonstrable return on investment. Based on its impact on client satisfaction levels and our ability to pitch new business, InterAction has more than paid for itself.”
About Interface Software Interface Software is a leading provider of client relationship management software and services for the professional services industry. Its flagship product, InterAction�, enables firms to transform internal information about people, companies, relationships, experience and expertise into Relationship Intelligence. Relationship Intelligence is internal competitive content that offers a complete, 360-degree view of client and contact relationships. Firms use Relationship Intelligence to enhance client service, source new revenue opportunities and differentiate their services from the competition. InterAction is internet-enabled, allowing professionals to view information however they choose-through knowledge management platforms, corporate portals, intranets, extranets and wireless devices. For more information contact Interface Software, Inc. at 1420 Kensington Road, Suite 320, Oak Brook, IL 60523, Telephone: 630-572-1400. In Europe and Australia, contact Dan Von Weihe, National Sales Manager, at 38 New Oxford Street, Suite 204 London, WC1A 1EP, United Kingdom, Telephone: +44 (0)78 7057 1234, Email: firstname.lastname@example.org.