Financial Securities - OMS

Sales Force Automation we are talking here as part of Agency Management System. we talked Insurance SFA and Order Management System in our last post. Today we are going to talk about Financial securities as part of our talk on Order management system.

Financial Securities
Another use is as a software-based platform that facilitates and manages the order execution of securities, typically through the FIX protocol.

First, it has to allow firms to input orders to the system for routing to the pre-established destinations. It also has to allow firms to change, cancel and update orders. When an order is executed, the OMS has to update its database and send an execution report to the order's originating firm. An OMS should also allow firms access information on orders entered into the system, including detail on all open orders and on previously completed orders.

Some management functions of an OMS might include: establishing and modifying order routing tables, entering and modifying dividend and stock split transactions, and processing and managing underwriting functionality. An OMS may offer direct market access (DMA). Typically only exchange members can connect directly to an exchange.

An OMS encompasses five components:

• Connectivity to a broker or market, typically using FIX messaging.
• trading blotter
• post-trade support
• compliance
• portfolio modeling

An example of a buy-side order management systems is Eze Castle Software.

We talk on Multi-channel order management in our next post.

ref: agency management system, insurance sfa software, wikipedia

Sales Force Automation System

Insrance SFA system we are talking here as part of agency management software in this blog. We talk Insurance sfa - leadorganizer introduction to that in last post, today we continue our talk.

SFA also includes a sales lead tracking system, which lists potential customers through paid phone lists, or customers of related products. Other elements of a SFA system can include, sales forecasting, order management and product knowledge. More developed SFA systems have features where customers can actually model the product to meet their required needs through online product building systems. This is becoming more and more popular in the automobile industry, where patrons can customize various features such as color and interior features such as leather vs. upholstered seats.

An integral part of any SFA system is company wide integration among different departments. If SFA systems aren’t adopted and properly integrated to all departments, there might be a lack of communication which could result in different departments contacting the same customer for the same purpose. In order to mitigate this risk, SFA must be fully integrated in all departments that deal with customer service management.

ref: insurance crm, Insurance sfa software, wikipedia, agency management software