Can Virtual Data Rooms be used as CRM for investment bankers?

Virtual Data Room and CRM systems are software products for automating and increasing the efficiency of customer interaction processes. What about their functionality?

Development of CRM technologies in the banking sphere

Recent years have revealed clear trends throughout the world – an increase in the speed of movement of people and information. In these conditions, for marketers of companies and banks working with a “mass” market, the tools for establishing and maintaining personal relationships with the client are of critical importance.

In modern customer relationship management, banks are actively using information technology. Without a clearly structured system that provides detailed information about the client, the range of services provided by the bank, a set of tools for analysis and planning of relations with him, the task of retaining the client for the bank becomes almost impossible to perform

The creation and operation of the CRM system (Customer Relationship Management) involve the development of business processes of customer relations, a certain technical base, and appropriate organizational solutions of the bank’s management. Thus, CRM is a profitable attraction and retention of customers by implementing a customer-oriented strategy based on special information technologies.

Virtual Data Room and CRM: what is the connection?

The ideology of CRM provides for the transition from a strategy of mass marketing and mass sales to individual (One-to-One) sales or services, customized or modified so that they meet the personal requirements of customers. As a result, this will make the relationship between the company and the partner more comfortable and effective, designed for the future.

Classic full-featured CRM systems involve the automation of marketing business processes based on personal work with each of the customers (bringing the contact to a deal), as well as customer service and support. CRM system should provide quick access to all available information, implementing a different form of its presentation for different users. In this case, CRM has similar functionality to Data Room software. Data Rooms as CRM systems provide the ability to collect information coming through any of the channels in a single database. Such solutions provide a secure collaborative environment for business transactions.

According to, the bank’s CRM system can be compared to the Data Room through a set of three functions and corresponding tasks:

Creating a single information space of the bank:

  • Formation of a single methodological base (uniform regulations for working with clients, content of actions, templates of documents);
  • Saving the history of customer relations in a single database;
  • Formation of a single customer base by combining the bases of divisions (including functional, branches, offices, trading platforms);

 Obtaining operational information on existing customers (accounting system).

  • Creating analytical tools for individual clients and their groups:
  • Segmentation of clients by various parameters (status, industry, significance);
  • Formation of statistical and analytical reports by individual clients and groups of clients.

Creating tools for planning and monitoring the work of managers:

  • Automation of business processes to attract customers, distribution of tasks to managers;
  • Formation of necessary documents according to the created templates and forms;
  • Formation of reports to monitor the work of managers.

What are the advantages?

The economic effect of banking reengineering through the implementation of a CRM system can be assessed as:

  • increase in the number of clients served by one manager;
  • reduction of customer losses due to the late transmission of information and inability to get through to the bank;
  • the possibility of cutting off “unnecessary” clients of the bank to reduce losses from the provision of services to clients who incorrectly fulfilled the conditions of previous agreements and did not meet the criteria of the bank’s client policy;