IFDS is a leading provider of investor record keeping and transfer agency solutions on a BPO (Business Process Outsourcing) and ASP (Application Service Provision) basis. The firm provides services to a wide range of global collective investment, wealth management and platform clients, supporting over 39.3 million accounts for over 370 organizations and with over 6,500 experienced staff based in five locations – Canada, Ireland, Luxembourg, the UK and the U.S.
International Financial Data Services (IFDS), a transfer agency working with the world’s largest banks and mutual fund companies, is well aware of the importance of market intelligence (MI) in identifying business development opportunities and supporting exceptional client service. The organization wanted to elevate its relationships from traditional “seller/vendor” to ones of partnership. This would involve a range of enhancements— from developing a deeper understanding of what’s going on in its clients’ businesses, to adding to what IFDS talks about with its clients. IFDS believed it could raise the bar with a deeper investment in MI.
IFDS partnered with ShiftCentral in order to receive MI consistently, effectively, and efficiently. Through a rigorous discovery process involving interviews with the client experience team, sales team, and a business intelligence analyst, ShiftCentral and IFDS were able to map out specific areas where actionable intelligence was needed, how it should be analyzed, as well as where and how it could be most effectively disseminated.
Based on IFDS’ unique requirements, ShiftCentral assigned a dedicated intelligence analyst to track these key areas and report on them on a semiweekly basis. These reports are distributed via several channels, including via a centralized platform – ShiftCentral’s Market Intelligence Center.
The organization’s expanded and improved intelligence platform enabled IFDS to move from a practice of reacting to client feedback to anticipating client needs. The enhanced intelligence capabilities also catalyzed a cultural shift at IFDS: as team members gained a greater insight into their clients’ businesses, they began to engage with those clients on a new footing – as strategic partners seeking to help create value, rather than vendors selling a service. And more substantive conversations with clients were just the beginning. From collaborating with ShiftCentral, IFDS also discovered openings to establish thought leadership and finding new opportunities to evolve as an organization.