July 21, 2021

Custom-Made CRM or Ready-to-Use: Which is Best for Capital Markets?

In his latest blog, Manish Patel, Chief Operating Officer, CRM at Tier1 Financial Solutions, explains how modular capital markets-specific ready-to-use CRM accelerates time to market – and value – for sell-side and buy-side firms of all sizes, at fraction of the cost of custom-made CRM solutions.

Custom-Made CRMs vs. Ready-to-Use: An Overview

The appeal of “custom-made” has long been strong but in the sphere of capital markets CRM, ready-to-go, modular solutions can offer the same benefits – and many additional ones – without the drawbacks. For global institutions with large IT teams, generous budgets and decades of collective experience, a custom-built client relationship management platform might be worth the significant investment required. But this doesn’t mean that smaller specialist or boutique firms with more modest resources and a narrower range of expertise have to miss out; a high-performing, insight-delivering CRM is still within reach.

Purpose-built, modular capital markets CRM systems can deliver the same data, insights and workflows as large in-house custom-made software applications, but at a fraction of the cost and on a much faster timeline. In fact, this approach can accelerate delivery timelines by up to 90% compared to the protracted development and rollout of a custom-built system. The sooner users have access to a CRM that understands their complex workflows, with data integrations already in place, the faster they will start deriving value from real-time intelligence and a 360-degree view of their clients.

Benefits of a Ready-to-Use CRM

Within CRM, a “one size fits all” approach will leave most clients with a product that fails to meet their needs – leading to missed opportunities and diminished revenue. Tier1’s modular delivery model, however, enables us to provide all the functionality clients require, packaged in a way that suits the needs of their business. As a configurable solution it accommodates the diverse requirements of an array of market participants, while recognizing the differences across market segments. This result is an integrated, best-in-class and connected user experience for all our clients, sell-side and buy-side, regardless of size.

Modular capital markets CRM systems, such as Tier1’s, can be deployed – remotely – in weeks, if not days. In contrast, the typical in-house solution can take at least eight or nine months to build and the journey is rarely a straight path. Our clients also benefit from ongoing innovation and frequent enhancements as part of the package, ensuring they remain compliant with evolving regulations and keep their competitive edge.

Client Relationship Game-Changer

Ready-to-go solutions are sometimes viewed as stopgaps or stepping stones to more sophisticated, custom-built CRM, but they should not be underestimated. Historically, the market invested in niche providers to support the marketing and selling of their products, which made connecting the CRM with additional data a complex and pricey undertaking.

The evolution of modular CRM solutions reflects the integration of the best relationship management tools with existing capital markets workflows, and they can now deliver everything needed to conduct business and maximize value from revenue-generating activities. With a modular approach, all the required tools – including integrations with critical path niche providers – are already in place a best-in-class solution, meaning that clients no longer have to shop around for the individual providers they need to maximize their business while maintaining relationship management capabilities elsewhere.

Tier1’s Ready-to-Use-CRM

“With Tier1, research distribution via integration with BlueMatrix can be achieved with minimal effort and no need for expensive third party consultants. This allows you to amp up and streamline your client knowledge, analytics and service quickly and cost-efficiently, delivering the client intelligence and relationship management you need immediately.”
– Manish Patel, COO, CRM at Tier1 Financial Solutions

Tier1’s ready-to-go, modular CRM solution provides foundational capital markets workflows, delivered swiftly and securely, with seamless onboarding and deployment backed by five star-rated support. This allows users to hit the ground running without any specialist IT expertise, gain a 360-degree client view and start driving revenue growth – in a matter of weeks.

For firms striving to achieve more with less, in a working landscape that continues to shift, this can be a game-changer. Does your capital markets CRM do all this for you?


Contact us to learn more about how Tier1’s pre-packaged client relationship management and workflow solutions for capital markets and investment banking can outperform custom-made CRMs, or to request a Tier1 demo.