Whether it’s an investment bank selling to an institutional investor, or corporate and institutional banks working together on a syndicated deal, it’s becoming increasingly critical to have efficient interaction among individuals to execute a successful transaction. The competitive advantage is, and always will be, getting the right products to the right customers at the right time. To do that properly, you need to collaborate effectively with your customer, with members of your firm, and increasingly with external parties and even competitors. The keyword here is “effectively”.

My friends who work at investment banks and the customers that I visit all tell me that the most prolific (and successful) relationship managers are masters of connecting with the right folks quickly, and getting exactly what they want out of their interactions. They seem to know exactly who to reach and when, and always seem to have the right information just as they need it. There’s always a clear objective for every interaction. One thing they have, that I haven’t yet seen in technology, is the certain je-ne-sais-quoi of charisma and boldness. Where technology does prevail is in its ability to inform when to reach out to whom and what information to share.

A key to effective collaboration is being able to collaborate quickly, and having the right context when you do so. As an example, when working on a syndicated deal, it’s natural to use CRM – that’s exactly what it was designed for. But it’s that context of knowing all the activities related to this deal, the proposal, and information about the prospect that needs to be brought into chats and conversations. The idea is to center the collaboration itself around the deal or the customer – the objective of the interaction. What you should be looking for is a way to quickly pull together the relevant parties into a chatroom, and share that context – so without having to do anything, everyone knows what we’re talking about and what the required outcomes of our interaction are.

We’re partnering with Symphony Communications LLC, the leading provider of enterprise B2B collaboration in financial services, to do just that. With our integration, NexJ CRM users can quickly join or initiate a chat session with the relevant parties (internally or externally). The Symphony platform securely encrypts the conversation end-to-end. Through data integration and a handy chat bot that I can interact with in the chats, I have all the contextual information that I need to truly collaborate. Of course, the entire interaction is available within CRM for me to see.

Want to collaborate with me on this or any other topic? You can use the form below or find me on Symphony!