Transcript:
The first iteration of cloud-based software was really built for operating companies. And CRM was generic in that it could support any type of business, but the original architecture of that technology was built for organizations that primarily sell high volumes of widgets with very high- volume sales teams.
The financial services community and the professional services community are really different in how they win business, how they sell business, and how they execute projects for their clients. That business could be raising money for the first time. It could be selling itself to a private equity firm. It could be going public in the financial markets. It could be doing a debt recapitalization or a bond offering., And any time those big inflection points happen for these companies, usually you hire a series of financial services and professional services organizations to help you through those times.
If you’re taking software that was designed for high- volume sales, and you are trying to use that technology to support a business that might do only a couple hundred transactions a year, but those transactions are valued in the hundreds of millions or billions of dollars, and there’s fee revenue based on that — it’s just square peg and a round hole. And so what we have done is change the database architecture, change the user experience, change the way that data is mapped and pivoted, that dashboards are configured and created to really respect the unique nuances and day- to- day challenges that those professionals face in those industries.
To learn more about next-gen, industry-specific CRMs, visit intapp.com/DealCloud.