HOPKINTON, Mass., May 7 /PRNewswire/ -- Financial services firms have a
distinct opportunity to increase client loyalty by creating comprehensive
customer communications management programs, according to new research by
independent analyst firm Aite Group. The new study, sponsored by EMC
Corporation (NYSE: EMC), the world leader in information infrastructure
solutions, is presented in the new white paper Managed Customer Correspondence
for Financial Services-A Clear Differentiator. The paper stresses the
importance of personalized and customized customer communications to maintain
and grow relationships in the financial services sector.
"One of the challenges financial services firms face is figuring out how
to differentiate themselves from one another," said Adam Honore, senior
analyst for Aite Group. "The way customers are currently being marketed to
doesn't necessarily capture the relationship aspect of the financial advisor
to the customer. You have to figure out a different way to reach your
customers and capture their attention. Our research indicates that customized
correspondence is increasingly viewed as an effective differentiator."
The independent study consisted of more than 500 individuals in two survey
groups. The first was made up of investors in the United States within five
years of pre- or post-retirement. The second included technology executives at
financial services firms.
According to the study, service is the top reason customers decide to
change firms. Customer correspondence, including letters, emails, notices,
alerts and confirmations, are vital elements of providing quality service.
More than one-half of investors surveyed rated their ability to understand
communication between themselves and their firms at or below average.
One-third of the technology executives surveyed, including CIOs, rated
document solutions as one of their top five priorities. Nearly three-quarters
considered personalization and customization as important or essential, while
one-half indicated speed of document generation as important or essential.
The results of the study point to the importance financial services firms
are placing on document solutions. Additionally, because of stringent auditing
requirements in the financial services sector, compliance and control remain
of paramount concern.
"This study quantifies the urgent business need, from both the client and
service provider perspective, for comprehensive customer communications
management," said Douglas Winter, Vice President and General Manager of EMC's
Document Sciences. "Our primary reason for sponsoring the study was our
commitment to identifying and addressing market needs that could be addressed
by EMC Document Sciences xPression(R) 3 software suite -- enabling users to
automate the creation and delivery of well-designed, highly personalized
communications."
Continued Winter, "Our customers tell us applications that enable the
creation of on-demand personalized correspondence, such as client pitchbooks,
real-time statements and customized marketing materials, are crucial business
drivers in today's competitive marketplace. This study reinforces those
observations, and we hope it will assist companies in choosing the tools they
need to improve customer relationships as well as retain high-quality
personnel."
The Aite Group white paper, along with a 30-minute webcast interview with
senior analyst Adam Honore on driving customer loyalty, can be accessed at
www.docscience.com/aite.
About Aite Group
Aite Group is a leading independent research and advisory firm focused on
business, technology, and regulatory issues and their impact on the financial
services industry. It was founded by leading industry experts in banking,
securities and investments. Aite Group brings together a team of business
strategy, technology and regulatory experts to deliver comprehensive, timely
and actionable advice to financial institutions and technology vendors. It
seeks to become a true partner, advisor and catalyst by exchanging ideas and
challenging basic assumptions to ensure clients always stay ahead of the
competition.
About EMC
EMC Corporation (NYSE: EMC) is the world's leading developer and provider
of information infrastructure technology and solutions that enable
organizations of all sizes to transform the way they compete and create value
from their information. Information about EMC's products and services can be
found at www.EMC.com.
EMC, Document Sciences, and xPression are registered trademarks of EMC
Corporation. All other trademarks are the property of their respective owners.
This release contains "forward-looking statements" as defined under the
Federal Securities Laws. Actual results could differ materially from those
projected in the forward-looking statements as a result of certain risk
factors, including but not limited to: (i) adverse changes in general economic
or market conditions; (ii) delays or reductions in information technology
spending; (iii) our ability to protect our proprietary technology; (iv) risks
associated with managing the growth of our business, including risks
associated with acquisitions and investments and the challenges and costs of
integration, restructuring and achieving anticipated synergies; (v)
fluctuations in VMware, Inc.'s operating results and risks associated with
trading of VMware stock; (vi) competitive factors, including but not limited
to pricing pressures and new product introductions; (vii) the relative and
varying rates of product price and component cost declines and the volume and
mixture of product and services revenues; (viii) component and product quality
and availability; (ix) the transition to new products, the uncertainty of
customer acceptance of new product offerings and rapid technological and
market change; (x) insufficient, excess or obsolete inventory; (xi) war or
acts of terrorism; (xii) the ability to attract and retain highly qualified
employees; (xiii) fluctuating currency exchange rates; and (xiv) other one-
time events and other important factors disclosed previously and from time to
time in EMC's filings with the U.S. Securities and Exchange Commission. EMC
disclaims any obligation to update any such forward-looking statements after
the date of this release.
SOURCE EMC Corporation
