Managing client relationships today often means having more data than you know what to do with – but modern problems require modern solutions.
Providing a service to a high level means cultivating a deep understanding of client needs. Traditionally, firms have relied heavily on formal interviews and surveys to gather insights. However, this approach often leaves valuable information siloed and underutilized. CoreClarity is changing the game by offering a solution that can collate and analyze data from a wide range of sources, providing a comprehensive 360-degree view of client needs.
Fragmented data makes for a fragmented view
Many professional services firms struggle with data fragmentation. According to Meridian West’s Client Listening Maturity Benchmark, 40% of firms feel that the difficultes involved in integrating multiple data sources are one of the top 3 biggest factors currently limiting the impact of their client listening efforts. Firms that fail to make the most of their data can struggle to get a holistic view of client needs, often leading to missed opportunities and inefficient service delivery. MeridianAI addresses this challenge head-on by offering a centralized platform that can integrate and analyse data from multiple sources.
Firms can conduct long and wide-ranging a relationship review interviews, but they will never be exhaustive. However, by bringing together formal and informal sources of client insight, they can begin to paint a fuller picture of their clients’ needs.
Diverse data sources, unified insights
CoreClarity goes beyond just analysing formal interviews. The tool can collect and process information from a variety of sources, including informal conversations and meetings, company reports and documents, web-based information, CRM data, and any other internal systems and databases. This ability to integrate diverse data sources allows firms to build a centralised library of insight – the basis for a more comprehensive and nuanced understanding of their clients’ needs, challenges, and opportunities.
What’s more, the tool is a living, breathing knowledge base: as new data is added, the system automatically processes and integrates it with existing information. This approach allows firms to maintain a consistently up-to-date understanding of each client’s situation, tracking
Knowing the client, inside and out
CoreClarity doesn’t have to just rely on internally generated data.
The tool can also incorporate external sources to provide a broader
context for client needs.
“What the tools that we’re working with now are starting to be able to do is scan websites and external sources of information – company reports, news releases, case studies, even social media where appropriate.”
Ethan Murphy, Consultant at Meridian West
The insight gleaned from these sources goes beyond relationship reviews. It allows firms to understand their clients’ commercial drivers, reputations, and brand positioning – those forces that inform
the need for professional services, but exist beyond the limited perspective the provider relationship.
This makes for a greater understanding of client needs in the context of broader industry trends, equipping firms with the ability to anticipate changes in client requirements, identify areas of opportunity, and address concerns beyond what the client may have explicitly mentioned.
An objective voice
Giving seasoned relationship managers and BD professionals the tools to identify the issues affecting their clients is one thing, but a hidden strength of AI tools is their ability to supplement the conclusions of subject matter experts with an objective viewpoint. The tool’s advanced analytics capabilities can identify patterns and connections that might not be apparent when looking at each data source in isolation or from the specific perspective of a particular function.
For example, the system might correlate information from formal interviews with data from the CRM system and recent news articles to identify a potential new service area that the client is likely to need in the near future. This level of insight allows firms to be more proactive in their client relationships, offering solutions before the client even realizes they need them.
Client organisations don’t just interact with professional services providers
From the client’s perspective, their professional services providers are simply one set of suppliers amongst many – from financial services providers, to technology platforms, to sub-contractors. In all
these areas the standard for customer service is rising as organisations seek ever-more sophisticated ways to understand their customers. Professional services firms can’t afford fall behind. The 360-degree view of client needs that CoreClarity offers can ensure that firms are kept well-informed enough to offer a standard of service that clients are increasingly coming to expect. By breaking down data silos, the tool empowers firms to deliver more value, build stronger relationships, and stay ahead in an increasingly competitive market.
