Seneca has made a substantial commitment in to a new Client Relationship Management system and Online Portal. Not only will this allow us to produce more detailed valuation statements, it will ultimately allow investors to view their investments online for the first time. Peter Steele, Seneca’s Head of Sales Operations, tells us more…
Why have Seneca launched a new CRM system?
Central to everything we do are our investors and our service levels are a fundamental part of delivering a quality service to each and every one of them. Entrenched in that delivery there needs to be a central CRM system which underpins and supports the personal service delivered by our dedicated private client team.
We have many more investors than we had five years ago and with over £100 million of funds invested in our range of tax advantaged investments, we are keen to exceed expectations and deliver something of real quality. Our EIS Portfolio Service, where we issue quarterly valuations and half yearly investee company updates currently requires a lot of leg work. The new system allows us to produce everything from one source and enables us to really advance our processes and keep delivering beyond investor expectations.
The new system allows us to offer investors online access to view their investments for the first time. It also provides advisers with an improved online service and better reporting. Our ultimate aim is for investors and advisers to be able to see all of their investments with us on one single platform, regardless of whether these are in EIS, VCT, IHT Services, Loan Notes or Property.
The number of regulatory changes we have seen and will continue to see means we need to stay ahead of the game. The new system ensures we are able to move swiftly and keeps us dynamic in a regulatory landscape that’s ever changing.
Who is providing the new system?
The CRM is being provided by Exact Financial Systems. They provide software for some of the other product providers who operate in the tax advantaged investment space and therefore already understand most of the issues we face in managing and reporting on this type of investment. We took time to carefully consider a number of other systems but frankly, I felt that Exact’s offering was head and shoulders above what others were offering.
Why is the platform such a big step forward?
We have spent time building bespoke, user-friendly reporting templates that will provide valuations and investment updates to our investors. New investments are already being uploaded to the system in preparation for the launch. The process is slick and we’re delighted with the delivery times we’re able to achieve.
We are in the process of rolling out the new system to advisers, providing training on how to use the system as we go. Following that, we will launch the facility for investors to access the online portal.
And beyond that?
The first tranche of investments that are on the system include our EIS Portfolio Service, all three of our Managed Storage EIS Funds, our Evolution EIS, our Growth Capital EIS Fund, our IHT Service, Seneca Vintage and Seneca Preference.
Beyond that, the plan is to widen this to include some of the other investments that we (the wider Seneca family of companies) offer, such as Seneca Bridging’s Loan Notes, the Seneca Growth Capital VCT and investments made with Seneca Property.
My team have put in a lot of time and effort into getting this new system ready. This is a big investment from Seneca and a step that we’re very proud of and I believe that investors and advisers will find it a valuable addition to our current private client offering.
Head of Sales Operations
01942 295 985