City Fios

2000 - Our first client - City Fios Bring Improved Sales Tracking to Rabobank

Rabobank First To Use New Generation of Evaluation Software

Rabobank is the first bank to go live with a new system which quantifies the value and sales history of individual clients. The software will enable the financial institution to apply the same standards of revenue tracking, accountability and budget monitoring to the sales side of the business, as it applies to the trading floors.

The system was developed by Investment Banking Consultancy City Fios. By examining which of the bank's staff worked on each transaction, what the sales and marketing input was, and how other staff in offices around the world contributed, the bank can now calculate the client's value and their profitability.

The system can also assess how the bank's staff have contributed to the process, giving those involved in the sales process the kind of profitability history currently enjoyed by their colleagues on the trading floor. Unlike most sales credit systems, City Fios' system integrates with the bank's existing software, ensuring the results are drawn from all sources of data. The system also reconciles the sales value back to the revenue recorded in the trading books.

City Fios' partner Paul Byrne explains, 'Banks have always kept good records of profit and loss for the trading side of their business, but the sales side has traditionally been difficult to track. This system allows Rabobank to examine each part of the sales process, so they know exactly how each client interacts with the business, as well as being able to quantify the part played by each member of the team'.

Jonathan Laredo, Head of Rabobank International Capital Markets commented, "Fios has been a vital tool in moving Rabobank International from being a product focused institution to one which focuses on clients and delivering value to our target client base. It now plays a key role in helping management monitor our business activity and client-oriented strategy."

City Fios are currently customising the system for several other clients in the financial arena. Each installation of the system will be backed up by a suite of services, which includes consultancy advice on sales strategy, sales organisation, and the approach to sales value and the temporary placement of a data administrator, in order to train in-house members of staff.