Decimal Finalizes Proprietary CRM System

DEFINED CONTRIBUTION & SAVINGS PLAN ALERT
October 10, 2005

Decimal, a nascent San-Francisco-based 401(k) platform provider that delivers customer service applications via the Internet, is working to install an automated customer relationship management (CRM) system by yearend. "We're trying to stay ahead of the curve. We're building a proprietary CRM so we can service our clients in a more efficient way," said Chad Parks, CEO.

Decimal designed the system to track customer service efficiency and keep a running log of comments stemming from financial advisor and participant customers. Recording and cataloguing financial advisor, third-party adminstrator and participant customer responses is critical to assesing the feasability of future strategic initiatives, Parks added.

Although fully automated CRM systems are commonplace among the largest 401(k) providers, the technology provides a low-cost competitive edge for smaller competitors, such as Decimal, said Mike McLuaghlin, senior consultant as New York-based kasina, a consulting firm. "As a small player, if you can use technology, it's a clear way to level the playing field," he said.