PeopleSoft Announces Enterprise Wealth Management
PeopleSoft Announces Enterprise Wealth Management
PeopleSoft® Client Manager Enables Financial Institutions to More Effectively Manage Customer Relationships and Assets
PeopleSoft, Inc. (Nasdaq: PSFT) today announced PeopleSoft® Enterprise Wealth Management, a new solution that enables financial institutions to increase customer retention and revenue through proactive client management. The new PeopleSoft Enterprise CRM solution includes four modules: PeopleSoft Client Manager, PeopleSoft Sales, PeopleSoft Portfolio Management, and PeopleSoft Strategic Account Planning. PeopleSoft Client Manager, the first module to be delivered, enables relationship managers, financial advisors, investment specialists, and private bankers to automate business activities and guide business decisions and customer interactions based upon a comprehensive understanding of the client.
Today, Financial Services institutions are targeting a new category of investor, the mass affluent, those with $100,000 to $1 million to invest. PeopleSoft Enterprise Wealth Management enables relationship managers to effectively service the growing number of mass affluent investors by utilising role-based technology that allows users to more effectively plan, create, manage, and track client goals, as well as identify opportunities to grow assets under management. PeopleSoft Client Manager incorporates the following industry-specific features such as:
- Client Summary: The Client Summary feature provides a holistic view of the client, including a relationship overview, contact summary, key product holdings or services, and additional opportunities or pipeline associated with the client.
- Relationship Summary: This feature provides a detailed account of all the relationships a client has by category (household, family business) and role (husband, wife, child, attorney) and includes powerful capabilities for creating and managing financial households.
- Referral Management: Referral Management maps out key client relationships enabling companies to understand customer value to the organisation. Additionally, referral management provides accurate sales tracking, analysis, and incentive compensation programs.
- Clients At Risk: This feature enables customers to identify clients who are at risk of withdrawing funds or investing with a competitor. As soon as at-risk clients are identified, relationship managers can develop interaction strategies that improve the relationship or re-engages clients.
- Client Holdings: The Client Holding feature shows the holdings of each account (stocks, bonds, mutual funds, etc) sorted by financial amount. It also provides the performance or overall profitability of the product holding.
Enterprise Wealth Management is the type of offering that
can provide companies with a consolidated view of a client’s
total value, along with analytical tools to assist financial
institutions in better serving their most profitable
customers,” said Cindy
Howton, a managing director with BearingPoint, Inc. (NYSE:BE), one of the world’s largest
business consulting and systems integration firms. “BearingPoint plans to team with PeopleSoft to implement CRM for Wealth Management to help increase customer retention and revenue through proactive client management.”
“As baby boomers move into their peak earning
years, the number of affluent investors is growing,” said
Steve Roop, vice president of marketing, PeopleSoft
Enterprise CRM. “This trend is creating an opportunity for
financial institutions to identify, acquire and retain a
broader customer base to increase profits. PeopleSoft’s new
wealth management solution provides an unprecedented scope
of industry-specific functionality that enables financial
firms to efficiently manage their client’s assets, provide
personalised service, and tailor product and service
recommendations to the needs of each customer. The net
result is increased customer satisfaction, greater employee
productivity and ultimately, increased profitability.”
PeopleSoft Enterprise Wealth Management is scheduled to be generally available in Q2, 2004.
PeopleSoft (Nasdaq: PSFT) is the world’s second largest provider of enterprise application software with 12,000 customers in more than 25 industries and 150 countries. For more information, visit us at www.peoplesoft.com
Statements made in this press release that state the Company’s or management’s intentions, beliefs, expectations, or predictions for the future are forward-looking statements. Readers are cautioned that these statements are only predictions and may differ materially from actual future events or results. Factors that may bear on the accuracy of these predictions include economic conditions in the U.S. and abroad, the ability to complete and deliver products and services within currently estimated time frames and budgets, market response to product announcements, and other risks referenced from time to time in the Company’'s filings with the Securities and Exchange Commission. Please refer to the Company’s periodic reports to shareholders (Forms 10-K and 10-Q) for more information on the risk factors that could cause actual results to differ.
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PeopleSoft is a registered trademark of PeopleSoft, Inc. All other company and product names may be trademarks of their respective owners. Copyright © 2004 PeopleSoft, Inc. All rights reserved.