Easy access to accurate, real-time client intelligence powered by advanced AI is a key competitive advantage for professional and financial services firms — especially during times of market volatility. However, some firms continue to rely on generic legacy CRM systems that can’t deliver the data-driven insights needed to uncover new opportunities, deliver exceptional client experiences, and build deal-winning relationships.
To avoid losing business and market share to competitors that are embracing modern technology, firms using legacy CRMs need to transition to AI-powered, cloud-based platforms that are built to meet their unique needs. These platforms help accounting, consulting, legal, and financial services firms take full advantage of their collective client intelligence by providing holistic, real-time insights and tools based on industry best practices.
Here are five ways your firm can benefit from these purpose-built client intelligence systems.
1. Centralize knowledge through automatic data capture
Busy senior professionals don’t always have time to manually update records or files within their traditional CRMs — resulting in outdated and incomplete client data.
AI-powered client intelligence systems solve this challenge by automatically capturing key information from Microsoft 365 or Google Workspace emails, calendars, and meeting transcripts. These systems then use this captured data to update the system’s central database — without any human intervention.
In addition to saving professionals valuable time, this minimizes data entry errors and supports smarter decision-making by ensuring your professionals always have the most complete and current client data.
2. Improve decision-making by integrating data in a single platform
It’s difficult to make critical decisions quickly or effectively when you have to switch between multiple different applications to gather data on specific clients or opportunities. Fortunately, there’s a better way.
Purpose-built client intelligence solutions eliminate app-switching by consolidating internal and external data within a centralized platform. With solutions like Intapp DealCloud, integrations with trusted third-party data providers like Equilar, Dun & Bradstreet, and S&P Global Market Intelligence enable your company and contact records to be enriched automatically with additional, relevant information. This helps your professionals make more informed decisions by letting them access an accurate picture of all their deals and relationships from one location.
Data quality and accessibility are major reasons leading firms like Hyde Park Capital are choosing industry-specific, AI-powered solutions. As Vice President Jesse Crawford-Lang explains: “To effectively manage and grow as an investment banking firm, the ability to seamlessly collect, analyze, and report on the many different data points across several teams and industries is paramount.”
3. Give professionals the insights they need, when they need them
The best client intelligence systems use AI to generate dashboards that are tailored to different user roles and needs. For example, with DealCloud, client relationship managers and business development professionals can quickly prepare for meetings by viewing AI-powered dashboards that surface the most critical information for a particular client or prospect. And professionals involved with real assets can view dashboards showcasing how many real estate acquisitions were completed last year, and the most recent market trends related to a contact or company of interest.
AI-powered systems that offer low- or no-code configuration provide an even higher level of personalization by allowing firms to build custom dashboards and reports without any coding. They also help users quickly answer questions by allowing them to easily pivot between customized data views of their firm’s intelligence.
4. Improve client service by transforming workflows
When news first broke about the run of withdrawals at Silicon Valley Bank, investment and advisory firms scrambled to respond to their clients and investors, and to conduct the complex task of identifying the impacted parties.
This meant searching through their own client lists as well as the lists of their portfolio companies. To ensure accurate communications were distributed quickly, professionals using generic CRMs had to go through the tedious process of manually pulling lists from multiple sources, confirming contact and relationship information, and converting their data into standardized formats.
However, if these professionals had been using a modern, AI-powered system built for managing nuanced, multidimensional relationships, they would have had a complete view of their extended networks. They also would have been able to use automated workflows to complete tedious tasks — and respond to their stakeholders significantly faster.
These client intelligence systems go beyond traditional CRMs by automatically mapping and maintaining complex relationship networks — so your teams can focus on servicing clients, instead of managing their data.
5. Enable partners with the intelligence they need — wherever they’re working
To get the most from a client intelligence system, users must be able to access it both in and out of the office. Modern, AI-powered platforms deliver critical client insights, relationship updates, and market intelligence directly to mobile devices so professionals don’t miss a beat when they’re on the go.
For example, with the DealCloud mobile app, professionals can prepare for meetings on the fly, respond quickly to urgent client needs, and make informed decisions without being tethered to their desks. Synchronization between mobile and desktop interfaces lets them view company recommendations, analyze market trends, read AI-generated meeting summaries, and nurture their networks from anywhere.
DealCloud also meets professionals wherever they are in their workflows with smart notifications. These notifications keep users informed about deal status changes and milestone updates while they’re working in Microsoft Outlook, Teams, or on their phones — and allow them to instantly update information in DealCloud without switching apps.
In today’s volatile markets, effectively meeting client needs and uncovering the most lucrative opportunities before your competitors requires having the right information at exactly the right time.
Retiring your generic CRM in favor of a modern, AI-powered relationship intelligence system like Intapp DealCloud that’s built to meet the needs of professional and financial services firms is the key to staying a step ahead. DealCloud provides you with the centralized, real-time relationship insights, automation, and powerful tools you need to achieve success no matter what the future holds.
Schedule a demo today to see why 2,600+ firms rely on DealCloud.