09 Dec 2009

Financial firms 'migrating to digital services for marketing'

Digital services are increasingly being adopted by organisations in order to improve their customer retention and acquisition, a marketing strategy that could have come as a result of customer relationship management (CRM).

The IDC Financial Insights report noted that financial institutions recognise the importance of investing in digital platforms and, as such, will invest more of their IT budgets towards this to avoid falling behind with the competition.

As part of this expenditure, organisations may want to purchase Microsoft Dynamics, software which can support enterprise resource planning and CRM.

Benefits of Microsoft Dynamics include being able to make reliable, strategic and reliable decision making at all levels in a company, the corporation claims.

Chief information officers should recognise the return on investment from digital services, IDC said. Both clients and customers of banks are increasingly moving to online resources, the report stated.

"There is nearly universal agreement that digital services deliver on the promise of efficiency," stated Jeanne Capachin, research vice-president at IDC Financial Insights.

Microsoft Dynamics is said to also streamline and make more efficient CR, the supply chain and financial processes.