Whenever I ask someone who’s been through a Client Lifecycle Management (CLM) platform implementation how it went, writes BeyondFS partner Matt Beattie, I’m usually met with a sigh or knowing look, as they cast their minds back to a harrowing period of their lives they would rather forget."
It took too long. The platform doesn’t work the way it should. Onboarding is still a headache, and in the worst cases, it feels like the. organisation spent millions only to be worse off than when it started.
So, what’s the problem? Why, in the world of corporate and investment banking, are so many CLM platform implementations falling short?
The reality is straightforward: some might see this a harsh assessment, but banks often lack a clear understanding of their own processes.
They are digitising something that hasn’t been fully defined. When the business itself doesn’t have a detailed understanding of how its products work or what the real needs are behind specific client transactions, it’s no surprise that the platform can’t automate the right processes.