LONDON, 23 June 2022. Wealth Dynamix today announces that they have launched first CLM benefit calculator for Wealth Managers.
Using a handful of typical use case throughout the client lifecycle, the benefit calculator gamifies business case generation by allowing firms to generate the likely benefits of migrating to a digital-first CLM platform – all reflected in terms of revenue in, or costs out of the firm.
The use cases include increases to prospect win rate and share of wallet via responsive nurture processes and opportunity management. Secondly, the cost savings by reducing the man hours during the onboarding process – which Wealth Dynamix say they can do within a single day – as well as the increase in fees earned by getting AUM faster, and lastly, the operational efficiencies realised by improving client servicing.
Why did Wealth Dynamix build this?
Johnny Beloe, Director of pre-sales at Wealth Dynamix and creator of the calculator said: “The Wealth Management industry is undergoing a period of intense technological transformation fuelled by changing client needs and expectations including digital first experiences, lower fees and the need for more information at their fingertips.
“In order to progress change initiatives, firms can sometimes run into challenges articulating the business value of the proposal; it may be instinctively obvious that transformation is the ‘right’ thing to do, but the financially centric metrics stakeholders are often looking for can be harder to arrive at.
‘We are pleased to provide a simplified version of a comprehensive business value analysis tool used within Wealth Dynamix to provide some insight into the true value a CLM solution can deliver, expressed in raw financial terms”.
For guidance on the formulation of your business case including advice on the key metrics to use, see our free e-book, ‘Six Steps to Success’ and try our free online Benefits calculator, available here.
* Global Futures and Foresight, 2021.
**By Gartner: Industry Report: Gartner Software Market Landscape Oct 2021
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