Birlasoft Pioneers with GRC Solutions in the Capital Market Space

Nalin Agarwal Onsite Delivery Manager

August 20114

BIZ. BUZZ...

Stop Selling and Start Delighting

The wide use of social vehicles and reliance on informal channels for purchasing decisions has brought about

a paradigm shift in the role of Sales. The days when Sales and Marketing could make promises irrespective of their organization’s ability to deliver them are gone. Today customers are not only skeptical but are also more vigilant and vocal. They voice disappointments through any available social vehicles and can potentially damage the future prospects of the organization. With customers seeking experiential value, exaggerated promises by Salespeople could doom any organization because they may fail to deliver on the exceeded expectations they had set in the minds of customers.

Gaining an edge in BFS space, Birlasoft has pioneered the solution to manage Swap Data Repository

(SDR) compliance initiatives. A proven solution with the world’s primary DODD Frank (Title VII) compliant clearing house in the US; the Swap Data Repository (SDR) solution facilitates an informed response to compliance challenges across any highly regulated organization.

A strong customized GRC offering is much-in-demand in the Capital Markets due to stringent regulation and monitoring of OTC Derivatives post Financial Crisis of 2007-2010. The new Birlasoft’s SDR framework

is flexible enough to accommodate the dynamic regulatory landscape and can be integrated with the existing systems.

Birlasoft has developed a comprehensive and flexible framework to respond to both market dynamics as well as individual organization’s requirements. Our specialized offerings in building Swap Data Repository (SDR), Swap Execution Facilities (SEF), large Derivatives Service Providers (DSP) and Application Programming Interfaces (API) will enable organizations to mitigate risk, improve transparency in financial reporting and enhance the organization’s performance.

One of our key partners in driving the GRC strategy in the Capital Market space would be William B. Aimetti who has been inducted as a Strategic Advisor - Birlasoft Americas. B. Aimetti would bring about a significant value and competitive advantage in our integrated GRC solutions and strategy.

The right level of risk management capability can position the organization for better economic returns, lower risk, improved value and increased confidence of the stakeholder and hence we are proud to have a pioneering offering in this space which can yield that edge.

It is the time for Sales in organizations to re-design their Selling strategy and approach. The Sales should create an experience that would make customers invite them into their offices. Consultative Selling was the first step towards this, especially in the IT Industry as it positions Salespeople as valuable advisors and empowers Salespeople with more knowledge to share with customers. But when buyers are able to obtain information through varied channels what they perceive as more reliable sources, the role of Salespeople in the buying process has reduced to discount providers.

When customer is asking for a discount, he is basically saying, “I do not see any rational linkage between your price and the value/services that you propose to deliver.” Indeed this is the time when the Salesperson can enhance the experience enough to justify the price.

Following are the customer experience design principles that Sales Leader ought to apply in the Sales process:ƒ Educate: Provide customers with relevant knowledge that makes them smarterƒ Engage: Demonstrate a personal under-standing of the customers' unique problems ƒ Empower: Provide customers with capabili-ties they did not have prior to our Sales visitƒ Personalize: Make the customer feel that

he is the only one who matters to usƒ Easy: Make the buying experience as easy, simple and economical as possibleƒ Authentic: Make the buyer feel that he is buying/getting the services from the trusted source

"Share valuable experiences with customers prior to any business being transacted”. As they receive certain experiences from us, our customers need to feel that they cannot possibly acquire those experiences from any other place. The litmus test is simple. How long would the buyer remember the experience he had with our Salesperson? Generally Sales experiences/interactions are uninteresting and forgettable. The rare ones are memorable to the point at which the customer feels he must have it! These Salespeople do not really sell, rather, they educate, empower, engage, and individualize.

Experience is as vital as being educated, qualified or certified. A BRM (Business Relationship Manager) and a Delivery Manager play a vital role in establishing a relationship and providing services to a customer. In short, they create the right environment for the customer and help them in making a right decision.

So let’s stop selling and start delighting as there is no substitute for experience.