AI for Asset Management Firms: Managing Pipelines and RFPs

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The Advantages of AI for Asset Management Firms: Using AI to Manage Pipelines and RFPs

In today’s asset management industry, nothing is more important than data. Without access to the right information, you’ll miss out on countless opportunities. That’s why it’s essential to have the technology in place to allow for easy data access and management. In this video series, we look at 6 different ways your asset management firm can benefit from the implementation of Artificial Intelligence (AI) in day to day operations. If you haven’t had a chance, we suggest you take a look at the series introduction, 6 Ways Asset Management Firms Can Benefit from Artificial Intelligence, as well as Part 1 of the series, Managing Wholesaler and Retailer Lines of Business.


In this video, we look at how AI can help your firm manage RFPs and pipelines as efficiently as possible. At any given time, your firm is presented with numerous opportunities. The question is: how do you know which ones to pursue? Where should you invest your time? Before AI, firms would do one of three things in this situation: guess; evaluate various criteria by hand; or, try to respond to every opportunity rather than eliminating the less promising ones. None of these approaches is ideal. If you want to make the best possible decisions when evaluating business opportunities, you need the help of AI.


Knowing Which Opportunities to Pursue

In the past, account managers and wholesalers would typically work in the retail or wholesale space. These days, though, the line dividing those areas from institutional private spaces has blurred significantly. We now frequently see reps working on institutional sales engagements with private clients. This means engaging with third party consultants, and that means a steady stream of RFPs are part of the day to day routine.


When your firm has dozens (or even hundreds) of RFPs to sort through, it’s impossible to respond to each and every one. Traditionally, account managers and wholesalers could determine which projects to pursue -- but this can be incredibly time consuming and time is money. Plus, given the amount of data involved in this kind of decision making, these individuals often make mistakes which result in lower returns.


This is where AI can provide your firm with a competitive edge. With AI and software such as Microsoft Dynamics CRM, you can evaluate various RFPs and business opportunities more efficiently and effectively. AI has the ability to evaluate RFPs in terms of highly informative data sets. By taking consultant ratings, key accounts, approved strategies, and even other RFPs and various third parties into account, AI offers you a complete picture that can inform your decision making. As a result, you’ll save time and energy -- and you’ll be in a better position to pursue the most valuable opportunities.


AI isn’t a distant technology: it’s available for your business to use here and now. With the help of various AI features in software solutions like Microsoft Dynamics 365 for Sales, you can rest assured that you’re making the best decisions for your business.


Want to learn more about what AI can do for you? Check out the video below to find out how AI and machine learning can improve the way asset management firms respond to RFPs. Stay tuned for more videos in this 6-part series, AI benefits for asset management firms.

AKA specializes in making it easier to do business, simplifying processes and reducing risks. With agility, expertise, and original industry solutions, we embrace projects other technology firms avoid—regardless of their complexity. As a true strategic partner, we help organizations slay the dragons that are keeping them from innovating their way to greatness. Call us at 212-502-3900!

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