This blog post represents a sneak peak at my upcoming book KM in Practice
Show Me the Money! - KM in Finance
The financial services industry
is a highly dynamic and competitive marketplace. As the fight for customers
intensifies, it is increasingly important to attend to customer needs while
ensuring customer information is shared with the right people at the right time
across the institution. To this end the technology supporting the institution
is vital to facilitating the movement of information and knowledge to the
customer. KM systems will have an increased importance as trends in personal
investing move towards broader services and integrated product offerings.
By utilizing a knowledge
management system, all employees interacting with a customer will have up to
date knowledge of that customer’s breadth of relationship and experience with
the institution. This helps the institution with cross selling, up selling and
reporting on the effectiveness of any new customer initiatives.
It
is well recognized that the financial services business environment is ever
changing and is doing so at an ever increasing rate. This presents financial organizations with
the challenge of acting and reacting to this volatility and communicating an
appropriate value proposition to the market. In addition having an increasingly
sophisticated consumer who is armed with the latest trading technology has
added further stress to these companies to deliver the right knowledge at the
right time in the right way to their customers.
If you are involved in the financial services sector as an employee and/or customer I would like to hear from you. Are you utilizing the tools and receiving the knowledge to make you successful? Look forward to all of your comments!
Labels: financial services, KM in Finance, KM in Practice, knowledge management in finance
