London, United Kingdom – (The Hosting News) – September 26, 2006 – According to a customer service audit released by enterprise Customer Interaction Management (CIM) solutions firm, Talisma Corporation, UK fund management companies are failing to deliver on the promise of email, web self-service, online chat and telephone technologies, despite demand from investors to interact through those devices.
The customer service audit, conducted during August 2006, examined customer service levels across the top 100 UK fund management companies. The audit found that:
* Nearly half (49%) of all customer email enquiries received no response in 48 hours
* Although practices vary by industry, it is generally accepted that a simple email enquiry should take no longer than 24 hours to answer.
* There is a lack of web self-help tools for investors. Over 60% of fund management organisations had no knowledge base or detailed questions and answers to help prospective investors make an informed investment decision. * No fund management company included in the audit provided online chat.
* The majority (77%) of fund management companies do not have a unified view of customer history that combines email, phone and other communication channels. Overall, the audit found that service levels for the UK fund management industry are average, at 53 per cent. While fund management companies proved better at providing service via traditional phone – with 95 per cent of calls answered in 30 seconds – they now need to adjust to the new realities of the digital age in servicing investors.
Jon McNerney, Vice President International Operations at Talisma noted, ”The findings of our audit – including a poor email response rate, lack of self-help and educational tools, and absence of online chat – should act as a wake up call to the industry. In an increasingly commoditised world where customer service can be a key differentiator, response times are critical. It only takes one unanswered email for a customer to go elsewhere. The wealth of information now available to individual investors online has encouraged many to look for self-service investment options. To capitalise on this trend, fund management companies need to empower investors to help themselves. This includes providing an online knowledge base with FAQs and tools such as online chat to deliver a fast and efficient service to potential investors and IFAs. As more investors demand this type of interaction, those companies that cannot integrate their data to provide a complete service will struggle to compete.”
Talisma is a provider of Customer Interaction Management (CIM) solutions, designed to enable businesses to deliver a satisfying customer experience. Talisma solutions endeavor to improve customer satisfaction by integrating the power of email, phone, chat, VoIP, and web self-service with a CIM Web services platform, comprehensive analytics, and a system-wide knowledgebase. Talisma’s global customers include AOL, Aviva, Bank of America, Bank of Montreal, Banque Populaire, Canon, Citibank, Coast Capital Savings, Credit Logement, Dell, EPSON, Ericsson, eSignal, Ethical Funds, ING Bank, Microsoft, Pitney Bowes, Siemens, Prudential ICICI, and Xchanging.
To learn more, please visit: www.talisma.com.