Investment bank Merrill Lynch has signed a deal that makes it the biggest user of Salesforce.com’s on-demand customer relationship software.
The investment bank is to roll out the hosted application to 25,000 staff.
The deal was announced as Salesforce launched a Wealth Management Edition of its software, aimed at financial advisors, discount brokers and private bankers. The new package is designed to provide financial services professionals with a 360 degree view of clients and to allow them to manage client data and information in one place.
Sales force is teaming up with Cisco Systems to link a voice over IP phone service with the wealth management package to allow users to dial customers from within the application.
The hosted CRM provider said its wealth management package was the first in a series of financial services applications it is planning to release.
Recent analysis from AMR Research pointed to the success of hosted services as a key driver making CRM software the fastest growing segment of the enterprise application market, recording 10% growth last year.