BlueBay Asset Management gets a grasp of its sales pipeline with Salesforce

UK-based asset management firm BlueBay has a clearer, comprehensive view of its sales cycles after deploying Salesforce’s Sales Cloud, its business development lead said.

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UK-based asset management firm BlueBay has a clearer, comprehensive view of its sales cycles after deploying Salesforce’s Sales Cloud, its business development lead said.

The European firm, which serves clients across the US, Asia Pacific and Northern Europe, brought the cloud CRM software in over a year ago to get better visibility of its sales pipeline.

Gerard Hutchings, business development lead, told ComputerworldUK: “18 months ago we had no real visibility of our sales effort. We have experienced, well-paid sales guys who have previously operated on an ‘I expect you to trust me to be doing the right things’ basis.

“We had no visibility in terms of new investors and clients coming in.”

Now, Hutchings said, BlueBay can use the platform to see where it should be positioning its sales teams, who travel from its London offices, to liaise with clients.

“We have a pretty comprehensive view of all our sales, which stretches out into Q3 and Q4 of next year,” Hutchings added.

More than a CRM

The firm, which has 100 licenses of Sales Cloud, is hoping to use the Salesforce1 platform “more broadly” aside from sales and marketing purposes. It runs its account invoicing processes on the software and hopes to build out its Product Master – the system of record for its funds - in the platform.

Innovation in asset management

Hutchings believes there is a lot of scope for innovative products that the “slow pace” of the asset management world is not yet taking advantage of.

He said: “I harbour aspirations of being able to do some disruptive stuff. I look at Community Cloud as a way to change the way we think about engaging our clients.

“Our market, in general, is a very traditional and relationship-based, face-to-face world. But I think we are fooling ourselves if we believe our clients, our prospects and their clients and their advisors are not out there in the digital world.

“We are missing a trick if we are not thinking about how to exploit that.”

The limitations of security and compliance are an acute burden for the finance sector, he added.

“We tend to use the web as just a publishing shop window, but the opportunities to have a proper digital conversation is there and crying out to be explored. I think we are getting there, but we are hampered by concerns around compliance – which of course you cannot ignore.”

Salesforce Wave

Meanwhile, Hutchings said that Salesforce’s latest analytics product, Wave, was the “missing piece of the puzzle.”

“What we have seen…we are very impressed with the functionality it could deliver.”

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