NEW YORK & LONDON--(BUSINESS WIRE)--As capital markets workflows become more automated, even the most complex, customized and exotic corners of the trading world are subject to increasing doses of workflow automation but according to new TABB Group research, no level of automation is going to eliminate the need for traders, sales directors and other project managers to communicate more effectively with their clients, counterparties and colleagues across the trading room, if not across the world’s financial centers.
Needed, says Paul Rowady, a TABB principal and director of data and analytics (DnA) research who wrote “United State of Communications: The Possibilities are Endless,” are continuing innovations that evolve traditional, high-touch tasks into smarter engagement tasks and, as he explains, through emerging highly integrated and unified communication and collaboration (UCC) IT services, solutions that are arriving just in time in tandem changing rules of engagement.
“UCC has already found a solid entry point as an important part of a firm’s compliance efforts but what remains underappreciated,” says Rowady, “is that UCC is also an important tool for protecting and growing a firm’s bottom line.” For example, he adds, deploying a well-designed, end-to-end unified communications platform can increase margins by lowering costs in fixed income, currency and commodity (FICC) businesses, allowing traders and sales personnel to connect with counterparties and clients when away from their desks. As this dataset grows, TABB Group believes that new, previously unforeseen revenue opportunities will emerge.
The 10-page research note with 5 exhibits, which identifies the five main categories of UCC functionality, details the evolution of “engagement” solutions by global banks, broker/dealers, large asset managers and alternative asset managers to gain greater actionable intelligence from voice, email and IM/chat communication channels. It also outlines the prevailing traditional belief that these solutions serve “defensive,” risk-management applications such as surveillance and compliance, and instead encourages firms to consider “offensive,” UCC revenue-generators, including; relationship management; counterparty tracking and management; seamless disaster recovery; operational efficiencies; and advanced analytics.
About TABB Group
Based in New York and London, TABB Group is the research and consulting firm focused exclusively on capital markets, based on the interview-based, “first-person knowledge” research methodology developed by Larry Tabb.
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