Calamos Cuts Quarterly Client Report Process Time by One-Third with EMC Document Sciences xPression
Automated Solution Enables Leading Investment Firm to Elevate Customer Experience by Expediting Production of Highly Personalized, Easy-to-Understand Account Reports.
HOPKINTON, Mass.- EMC Corporation (NYSE:EMC), the world leader in information infrastructure solutions, today announced that Calamos Investments, a diversified investment firm with $23.3 billion in assets under management as of January 2009, has successfully reduced its quarterly client report process time by one-third—from 30 days to 20 days—using the EMC Document Sciences xPression® software suite. The solution also enabled the firm to elevate the overall customer experience by providing more detailed, well-designed account reports with the ability to personalize information relevant to each individual investor.
xPression is a leading customer communications management solution that automates the creation of highly personalized and customized communications, including relationship statements, correspondence, contracts, policies and marketing collateral. The communications can be generated from a single platform in real time, on demand and in high-volume batch for multichannel delivery via print, web, e-mail, SMS/MMS and/or archive. EMC Document Sciences is a business unit within the Content Management and Archiving Division of EMC Corporation.
Prior to installing xPression, Calamos’ quarterly client package – which includes a detailed account report, market commentary and comparisons to relevant industry benchmarks – took between 28 and 30 days to process after the close of a quarter. The process involved gathering relevant client data from multiple sources, personalizing the content, compiling an eight- to 25-page account report, conducting a quality control review, and assembling, printing and delivering the materials. xPression expedited the lengthy process by automating the personalization, content review, quality control, data population, compilation, production and delivery of the document.
“Calamos is committed to providing exceptional client service, and a part of that service is to provide clients with market commentary and a customized portfolio review—especially in today’s economic climate,” said Maryann Bianchini, Calamos’ Senior Vice President, Director of Client Relationship Management and Chief Administration Officer for Institutional Clients. “Consequently, we want to put our investment team’s views into our clients’ hands as soon as possible. The xPression software suite has allowed us to segment our client base and create a process where personalized commentaries are written for specific clients in specific asset classes. All this client-specific information is automatically populated into templates and applied to the appropriate investment strategy, minimizing errors that may result from a more manual process. The report presented to our clients is visually rich and in an easy-to-follow format.”
In the first months after xPression was deployed, the feedback from Calamos clients was that the new report was a vast improvement over the previous report, offering clients more in-depth information regarding their portfolio positioning and performance. In addition, the firm’s client relationship managers indicated that their quarterly follow-up conversations with customers were more productive because of the ability to utilize the information presented in the quarterly reports.
“In the past, client relationship managers might have spent additional time creating a PowerPoint presentation,” Bianchini said. “Now they can utilize the quarterly report with some additional customization, leaving more time to work with our clients and develop deeper relationships.”
Calamos plans to continue evolving the manner in which it uses xPression to elevate the overall customer experience. The firm continues to work toward enhancing and increasing the efficiency of producing its quarterly client package, hoping to achieve a 66 percent overall reduction in time using xPression.
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