The Best Time to Purchase A Financial CRM System

05/30/2019 16:16
When is the Best Time to Purchase the Financial CRM System
When is the Best Time to Purchase the Financial CRM System

No matter which financial CRM system you purchase, choosing the best time to buy can bring you the most benefit.

According to our experience, most brokers often purchase financial CRM systems during the following periods.

1. The middle and late stages of platform construction

For brokers who are building platforms, they will usually consider purchasing a financial CRM system in the middle and late stages of construction.


The early stage of the construction process is mainly about company creation, official website design, and trading platform selection. In the middle and late stages of construction, you should consider the parts related to business processes, such as: How do customers open accounts? How to carry out customers’ follow-up management? How to manage IBs and perform rebates?

These issues are all related to financial CRM solutions. Therefore, brokers in the late stage of construction have to start to consider which supplier's financial CRM system to choose.

A good financial CRM system can help brokers solve customer account opening process, IB management issues, and customer follow-up, management, and task dealing issues, allowing brokers to manage platform business more automatically and efficiently.

2. New brokers need to replace the financial CRM system

New brokers that have just been established may have a tendency to replace the financial CRM system after 2-6 months of operation.

At the beginning of its establishment, brokers may have chosen a financial CRM system provided by a certain IT provider for various reasons, but it took two or three months to discover [it’s not easy to use].

Maybe the product itself is not designed properly, and can not meet the needs of the actual business process of the brokerage. Maybe that the brokerage needs some special functions, the existing CRM system cannot be satisfied.

There may be many reasons, but the end result is that new brokers are beginning to consider replacing existing financial CRM systems and choosing new technology providers.

3. Mature brokers open up new markets

With the tightening of supervision in Europe and the United States, more and more established veteran brokers have begun to implement a globalization strategy and lay out the Asia-Pacific market.

At this time, the financial CRM system used by the company headquarters is likely to be unable to meet the localized market demand, and the brokers need to purchase a more suitable financial CRM system.

For example, in China, Malaysia, and other countries and regions, the IB model is the most popular way to get customers.

Since the IB structure has many levels and many rebate rules, the financial CRM system of the brokerage company must have a multi-layered rebate function. Obviously, choosing the most appropriate financial CRM system will help brokers quickly adapt to the local market.

For example, well-known brokers such as LMAX have chosen the [Financial CRM System - BROKER WORK], which is popular among Asia Pacific brokers, to help them develop their local market business.

Are you building your brokerage platform now?

Or are you considering replacing your existing financial CRM system?

Or have you just entered the Asian market and want to find the best CRM solution?

No matter which situation you are in, choose the most suitable financial CRM system and start growing your business quickly!

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