The Right Compliance Software Can Impact More than Just Compliance

The value of deploying the right compliance technology is clear: it will save your firm money, it will align with the rules and regulations it is supposed to support, and it will be highly configurable so you can put your firm’s stamp on it.  These are all incredibly valid points that contribute to the value proposition.

But did you ever stop and think there may be more to it?  In the workplace it’s called “soft skills”.  These are the things that you may not know to look for, but when you find them, they provide more to your value proposition than you ever imagined. Think about it in terms of an interview for a new candidate to join your team. You always look to check the box on education, experience, knowledge of various software products, industry association involvement, and more. But how many of you dig into the interview and assess their soft skills? And honestly, aren’t soft skills just as important, if not more so, when hiring the right person that will move the needle and be a good fit in your organization?

I would argue the same holds true for your software. When choosing a solution provider, you need to look beyond “checking the box” and find the soft skills that will help set you and your firm apart and make you more successful.

Are Their Employees Knowledgeable? It’s More than Academics

When I think about knowledgeable people, I consider more than their academic background. I also try to get an understanding of how well they see the big picture, how well they know my business, how can they help me elicit and interpret my needs, how plugged into the industry they are, and how can they translate what I asked for into what I truly need.

Does the Software Provider Take a Consultative Approach?

In my opinion, firms that take a consultative approach to selling is probably one of the most important facets to consider, because it is what separates a vendor from a partner. You need to be confident that your software won’t just automate an existing, flawed process. Anyone can take a manual document and digitize it and anyone can read a procedural guide and build step-by-step screens to “automate” it. The real trick is looking beyond and challenging what is done today to build a better solution. And when that is done right, and done well, you now have a trusted partner that also delivers software for you.

Are They Service- or Servant-Minded?

Being service- or servant-minded is just as important as being consultative. You could argue they go hand-in-hand. You need a partner that is service-minded throughout your customer journey. It starts with Sales, ends with Customer Service / Client Success, and it needs to be everywhere in between – Product, Technology, Documentation, and Quality Assurance.  It is a culture and one that you should want to be a part of.

 

So why look for these soft skills when it comes to choosing compliance software (or any software for that matter)?  It is simple. The company that can provide you with this type of environment will provide you with a better overall software experience. Software that meets your specific requirements, is intuitive, and does what you need it to do now and in the future will contribute to higher user adoption, happier employees, greater job satisfaction, higher employee retention, and easier recruiting.

 

InvestorCOM prides itself on building strong relationships with our clients and being their most valued compliance solutions partner.  We have a long roster of clients that have been with us throughout our 30-year company history.  Contact us to learn how we can help you.

 

By: Randy Barnes, Director of Sales and Product Engineering, InvestorCOM